BusinessWeek Mindanao (June 10, 2020)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 2

AS OF 6:00 PM JUNE 5, 2020 (FRIDAY)

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Briefly Unemployment CLOSURE of businesses during the community quarantine is the reason for the spike to record-high Philippines unemployment rate last April, thus Finance Secretary Carlos Dominguez III believes the uptick in the number of unemployed persons is temporary. Citing the recent statement of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, Dominguez said the unemployment rate in the fourth month this year “is not due to any other reason other than the lockdown.”

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AMMERED by natural disasters and the coronavirus disease 2019 (Covid-19) pandemic, the Philippine economy is projected to contract by 1.9 percent in 2020. But there are good chances that the country can bounce back in the next two years, according to the World Bank’s latest Philippines Economic Update released Tuesday. The eruption of Taal Volcano and most importantly, t he g lobal outbre ak of

Covid-19 including the strict containment measures ECONOMY/PAGE 6

Travel permits no longer needed within Davao

Covid loan THE PHILIPPINES has signed an agreement with the Asian Infrastructure Development Bank (AIIB) committing the multilateral lender to extend a loan of up to $750 million to support government efforts to suppress the coronavirus disease 2019 (COVID-19) outbreak and augment the funds needed to address this health crisis. This loan accord cements AIIB’s commitment to cofinance with the Asian Development Bank (ADB) the Philippines’ COVID-19 Active Response and Expenditure Support (CARES) program, a quick-disbursing budget support facility designed to fund the government’s efforts to combat COVID-19 and mitigate the adverse impact of the contagion on the economy. Finance Secretary Carlos Dominguez III and AIIB Acting Director General Rajat Misra signed the loan agreement last Friday (June 5).

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Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

By WARREN ELIJAH E. VALDEZ, MindaNews

DISINFECTING GROUND ZERO. Personnel from Barangay Carmen in Cagayan de Oro City spray disinfectant Monday evening along Dabatian Street where a 34-year-old female who died of COVID-19 resided. Health and police officials have cordoned two blocks in Dabatian Street and advised residents to quarantine themselves for 14 days. mindanews photo by froilan gallardo

DAVAO City – Securing travel permits or travel authority for individuals travelling within Davao Region is no longer required, Mayor Sara Duterte said on Monday.

This, as the local government units in the region have agreed to no longer require travel authority (TA) for individuals travelling PERMITS/PAGE 5

Worm infestation in NorMin not alarming, says DA-10 THE Department of Agriculture in Region 10 (DA-10) has assured that the reported fall armyworm (FAW) infestation on corn plantations in some areas in Northern Mindanao

has not yet reached an alarming level, adding that measures have already been taken to contain the damage. In a statement released Sunday, WORM/PAGE 6

Gov’t vows support to private media amid COVID-19 crisis THE national government is committed to support private media entities as the coronavirus disease (COVID-19) crisis takes

toll on employment and health concerns of journalists. Presidential Communications MEDIA/PAGE 3

CHILDHOOD MEMORIES. This would have been a perfect summer snapshot save for the face masks and shields that Cassy 6, and her sister Hallie, 2 are wearing, as they play at the Boulevard in Dipolog City. The facial protection measures betray a childhood rudely interrupted by the COVID-19 pandemic. photo by armand b. frasco

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