Should a boss loan money to a worker?

I’m the human resource manager of a small business established 10 years ago. We don’t have a cash advance policy for employees. It is a long established rule, in place since we started the business. Because of that strict policy, our employees have resorted to borrowing money from each other, including their immediate supervisors and […]

DBP extends P1.1-B loan to Abejo Waters

STATE-OWNED Development Bank of the Philippines (DBP) granted a P1.097-billion loan to Cebu-based firm Abejo Waters Corp. (AWC) to fund its water system projects in Cebu and Quezon provinces, the bank’s top official said. DBP President and Chief Executive Officer Emmanuel G. Herbosa said the proceeds of the loan will be used by the 22-year-old […]

Cebu Pacific operator sets final terms of stock rights offer

CEBU AIR, Inc., the listed operator of budget carrier Cebu Pacific, announced Wednesday the final terms of its stock rights offer to raise almost P12.5 billion, partly aimed at addressing the impact of the pandemic crisis on its operations. In a statement, the company said it intends to raise P12,499,999,984 from the issuance of peso-denominated […]

UnionBank sets sights on mass market, small firms

UNIONBANK of the Philippines Inc. is looking to expand its client base to include more micro-, small-, and medium-sized (MSMEs) enterprises as these firms move to digitize their operations amid the coronavirus pandemic. “It’s a large market and we think that this segment needs attention at this time,” UnionBank Executive Vice-President and Chief Mass Market […]

Dining In/Out (02/18/21)

1 of 10 LAMB CALDERETA CHICK’N BITES Crimson Hotel offers take home CRIMSON Hotel’s Café Eight now offers its signature dishes for delivery. Best shared with family and friends, each dish is good for three to four persons and is served with rice. They are: Lamb caldereta (P899), lamb shoulder meat is prepared sous vide […]

Stocks drop on Taal’s activity, inflation concerns

PHILIPPINE SHARES fell on Wednesday as concerns over the Taal volcano recent activity and the peso’s weakness caused the market to become cautious. The Philippine Stock Exchange index (PSEi) dropped by 77.63 points or 1.1% to finish at 6,966.43 on Wednesday. The broader all shares index also declined by 35.31 points or 0.83% to close […]

Peso sinks to weakest close in 3 months

THE PESO weakened further against the greenback on Wednesday on risk-off sentiment following the stock market’s decline and amid concerns over rising commodity prices. The local unit finished trading at P48.38 per dollar on Wednesday, losing 13 centavos from Tuesday’s close of P48.25, data from the Bankers Association of the Philippines showed. This was its […]

Gov’t agrees not to file suits in case of vaccine side effects

THE PHILIPPINE government has agreed not to press charges against coronavirus vaccine makers in case of injuries, according to the presidential palace. The government would assume responsibility for the emergency use of their vaccines under so-called indemnification agreements, vaccine czar Carlito G. Galvez, Jr. told a televised news briefing on Wednesday. Among those covered by […]

Congressmen seek P500-M fund for vaccine harm or loss

CONGRESSMEN are considering creating a P500-million fund that will cover damage claims in case people get sick from coronavirus vaccine shots. The fund will cover any adverse effects and ensure that the government’s vaccination program goes smoothly, Quirino Rep. Junie E. Cua said in his sponsorship speech on Wednesday. The clause was inserted in House […]

Local shares rise on potential lockdown easing

LOCAL STOCKS climbed on Tuesday as global equities rallied and following the National Economic and Development Authority (NEDA) chief’s suggestion to further ease quarantine restrictions to help boost consumption. The benchmark Philippine Stock Exchange (PSEi) rose by 84.85 points or 1.21% to end at 7,044.06 yesterday. The all shares index also went up by 41.18 […]

Peso drops to P48:$1 level as oil prices climb

THE PESO returned to the P48-per-dollar level on Tuesday amid rising oil prices and bargain hunting by investors. The local unit closed at P48.25 versus the dollar on Tuesday, sinking by 32 centavos from its Monday finish of P47.93 against the greenback, data from the Bankers Association of the Philippines showed. The peso opened the […]

‘Vaccine nationalism’ may slow pandemic recovery

WASHINGTON — The World Trade Organization’s (WTO) incoming chief on Monday warned against “vaccine nationalism” that would slow progress in ending the COVID-19 pandemic and could erode economic growth for all countries — rich and poor. Ngozi Okonjo-Iweala told Reuters her top priority was to ensure the WTO does more to address the pandemic, saying […]

Election protest of late dictator’s son rejected

THE SUPREME Court has rejected for lack of merit the election protest of defeated vice presidential candidate Ferdinand “Bongbong” R. Marcos, Jr., according to its spokesman. The 15-member court, sitting as the Presidential Electoral Tribunal, dismissed the lawsuit unanimously, court spokesman Brian Keith F. Hosaka told an online news briefing on Tuesday. “Out of the […]

Philippines will have enough vaccines for adults, palace says

By Kyle Aristophere T. Atienza and Vann Marlo M. Villegas, Reporters THE PHILIPPINES will have enough coronavirus vaccines for its adult population this year, according to the presidential palace. The government will get 44 million doses of vaccines under a global initiative for equal access and 25 million doses from China’s Sinovac Biotech Ltd. that […]

Senate recommends cancellation of ‘half-baked’ privatized vehicle inspection policy

THE SENATE public services committee has recommended the repeal of the Department of Transportation’s (DoTr) order delegating motor vehicle inspection system to private operators. Under Committee Report No. 184, the panel chaired by Senator Grace Poe-Llamanzares said the order is “half-baked” and will have to go through the legislative process. “The policy of ensuring only […]

Nationwide round-up (02/16/21)

NPC tells teachers: Don’t post photos, videos of students in online classes THE National Privacy Commission (NPC) is warning teachers against posting on social media photos or video clips collected from online classrooms to protect the privacy of students. The commission said in a statement on Tuesday that schools should enforce social media policies that […]