BusinessWeek Mindanao (May 18, 2020)

Page 1

BusinessWeek M I N DA N A O CREDIBLE

Volume X, No. 136

AS OF 6:00 PM MAR. 13, 2020 (FRIDAY)

FOREX

X

US$1 = P 51.030

18 cents

PHISIX 5,793.94

57.67 points

YOUR MINDANAO-WIDE BUSINESS PAPER

RELIABLE

X

Briefly Low sales M I C RO, s m a l l a n d m e d i u m enterprises (MSMEs) expect as much as 50 percent decline in sales and revenues this year due to the COVID-19 enhanced community quarantine (ECQ) as they asked government to provide additional working capital and allow all with online capabilities to resume operations during the lockdown. R o b e r t o C l a u d i o, p a s t president of Philippine Retailers Association, in a presentation before the webinar on “Helping MSMEs Survive the Pandemic” organized by the Management Association of the Philippines urged government to help save MSMEs, which account for 99.5 percent of total businesses in the country, employ 5.7 million jobs and contribute 35.7 percent to the economy. As working capital are depleted and cash flow are turning negative, Claudio said MSMEs need to continue paying for their obligations like salaries, utilities, suppliers, landlords, taxes among others.

Call for donations THE Philippine Eagle Foundation (PEF) is ramping up its call for donations online as it grapples with limited funds amid the lockdown prompted by the coronavirus d i s e a s e 2 0 1 9 ( C OV I D - 1 9 ) outbreak. The Philippine Eagle Center in Davao City run by PEF has been closed to paying visitors since midMarch due to COVID-19 related restrictions as well as a safety measure following a confirmed bird flu outbreak in Luzon. PEF Executive Director Dennis I. Salvador said while the center, which houses 31 Philippine Eagles and 81 other animals, has a steady fund from government, international organizations, and private sector sponsors, “the expanse of work requires more funding.”

IN-DEPTH

P15.00

Normin tourism suffers P1-B losses from Covid www.businessweekmindanao.com

Market Indicators

We strive for Excellence!

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

Monday|May 18, 2020

Thank you for trusting us!

N

ORTHERN Mindanao's tourism sector has been one of the hardesthit by the coronavirus disease 2019 (Covid-19) pandemic, with losses reaching as high as more than P1 billion. This assessment was made by the National Economic and Development Authority in Region 10 (NEDA-10) on Friday, based on the tourism outputs the region reported

in the previous year. N E DA- 1 0 d i re c t o r Myla Fe Cariño said that between March 15 to April 30, the estimated losses to the SUFFERS/PAGE 11

Davao Region posts lower fish production in 2019 By ANTONIO L. COLINA IV, MindaNews

SAD FIESTA. The San Isidro Cathedral in Malaybalay City has been closed since March this year due to the coronavirus pandemic. But devotees still offer candles, prayers and donations during the fiesta in honor of the saint on Friday, 15 May 2020. mindanews photo by h . marcos c . mordeno

PCG probes oil spill at CDO port THE Philippine Coast Guard in Northern Mindanao (PCG-NM) on Friday began investigating the oil spill that occurred on the seaport of Barangay Macabalan, this city. The oil spill was first reported to authorities by crews of the ships docked at the Macabalan port Thursday morning,

DAVAO City -- Fish catch in Davao Region decreased by 7.2 percent, or 48,245.89 metric tons (MT) in 2019 from 51,983.43 MT in 2018, according to the Philippine Statistics Authority (PSA).

The region’s fish catch last year was the lowest since 2015, when it recorded a production of 59,498.46 MT. Of the total regional fisheries output last year, PRODUCTION/PAGE 11

said Ensign Jerich Ybañez, PCG-NM spokesperson. “As soon as we got the information, we then referred it to our MEPU (Marine Environmental Protection Unit) which responded right away,” Ybañez said. He said the MEPU contained the SPILL/PAGE 11

Adidas reopens 3 Mindanao stores HARD hit, like many businesses are, by the COVID-19 pandemic, Adidas Philippines is slowly, steadily getting back into action. This developed following the reopening of the company’s three stores: Ayala Centrio Cagayan de Oro, Gaisano Mall of Digos, and SM Cagayan de Oro

Uptown. The shoe and apparel brand stressed that these reopening are “in line with local government guidance and in collaboration with our retail partners”. Cagayan de Oro and Digos are among the areas that transitioned to general ADIDAS/PAGE 11

CATTLE INDUSTRY. The robust cattle industry in Manolo Fortich, Bukidnon, remains resilient amid the Covid-19 pandemic. photo by gerry lee gorit

RADYO SERBISYO 106.3 FM CDO Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
BusinessWeek Mindanao (May 18, 2020) by Mindanao Daily News - Issuu