BusinessWeek Mindanao (September 16, 2020)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 44

Market Indicators AS OF 6:00 PM SEPT. 15, 2020 (TUESDAY)

FOREX US$1 = P 48.400

11

PHISIX 6,018.21

X X Briefly

cents

21.07 points

Shrinking economy THE Philippine economy is forecast to contract by 7.3 percent in 2020 amid the coronavirus disease 2019 (Covid-19) pandemic before growth returns to 6.5 percent in 2021, according to a new report from the Asian Development Bank (ADB) released Tuesday. The Asian Development Outlook (ADO) 2020 Update projects a deeper decline in the Philippines’ economy than ADB’s April forecast of 3.8-percent contraction, with subdued private consumption and investment expected for the rest of the year and uncertainties about the global economic recovery. The economy is expected to rebound in 2021 as the outbreak is contained, the economy further opened, and more government stimulus measures are implemented.

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NGCP upgrades system www.businessweekmindanao.com

Wednesday|September 16, 2020

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By MYRNA M. VELASCO, Contributor

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RIVATE transmission firm National Grid Corporation of the Philippines (NGCP) is stepping up on the upgrade and modernization of its facilities – a move that is also reinforcing the digitalization of its operations which is crucially needed in this time of a pandemic. The company apprised the media that in its operations, it equipped three of its helicopters “with high definition photo and video cameras with gimbal stabilizers, infrared scanning and UV detection equipment to monitor, inspect and evaluate the condition of transmission lines and equipment.” NGCP said such modernization on its facilities is particularly beneficial in areas that are inaccessible “due to terrain and environmental restrictions.” The transmission company’s facilities sweep through mountainous terrains and mostly hard-toreach domains; hence, the deployment of drones and other digital equipment could be a boost in UPGRADES/PAGE 7

LOCKDOWN IN ILIGAN. Two Maranao women wear their face masks and shields and appropriate color coded quarantine pass as they walk the streets of Tambacan, Iligan City. An armored vehicle of the Army’s 2nd Mechanized Infantry Brigade patrols the area to remind residents to follow health protocols as the city was placed under Modified Enhanced Community Quarantine because of the surge of local COVID-19 transmission. mindanews photo by richel v . umel

Contingency fund THE Philippine and Japanese government on Tuesday signed a 50-billion yen (P22.93 billion) contingency fund to support the country's early recovery after natural and health-related disasters. Foreign Affairs Secretary Teodoro Locsin Jr. and Japanese Ambassador Koji Haneda signed and exchanged diplomatic notes on the Post Disaster Stand-by Loan Phase 2 (PDSL 2) at the Department of Foreign Affairs (DFA) on Tuesday. The DFA said the fund would help the Philippines better manage its vulnerability to natural disasters, to combat the Covid-19 pandemic, and to mitigate the adverse effects of these risks on the country’s economy.

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‘Surprise’ your departed loved ones with a visit ahead of Undas By ANTONIO L. COLINA IV, MindaNews

DAVAO City -– Mayor Sara Duterte urged Dabawenyos to “surprise” their departed loved ones with a visit to cemeteries where they are laid to rest earlier, rather than join the crowd on November 1 to 2 and

risk contracting the coronavirus disease (COVID-19). In her program over Davao City Disaster Radio (DCDR 87.5) last Friday, Duterte encouraged VISIT/PAGE 7

Urban gardening pushed to fight hunger, climate change EARLY VISIT. A mother holds her son as he lights a candle at the tomb of their departed loved ones at the Roman Catholic Cemetery in Davao City on All Saints Day. mindanews photo

DAVAO CITY – The Rotary Club of East Davao and the Philippine Institute of Certified Public Accountants (PICPA) have seen the urban container gardening (UCG) as one of the best solutions to address hunger and climate change, especially as the country

faces a health crisis. “Urban gardening is a practical and uncomplicated method of growing plant-based food that doesn’t require wide agricultural lands or even a backyard. You simply need to repurpose or GARDENING/PAGE 7

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