For Filipinos, who have increasingly preferred traveling to de-stress, it has been a heavy blow. The rise in coronavirus cases earlier this year and the resulting reinstatement of restrictions did not help. While some spots did not entirely close for tourists within their bubbles, out-of-town trips remain a dream in hotspots until the numbers go…
Varying levels of quarantine restrictions imposed since March of last year to contain the spread of COVID-19 have drastically reduced traffic along the country’s main expressways. This has undeniably affected the bottom line of Metro Pacific Tollways Corp, the toll operations arm of Metro Pacific Investments Corp. (MPTC) that operates a network of toll roads…
With people now more conscious about their health and safety, businesses under the travel and hospitality sector, as they continue to bear the brunt of the pandemic’s economic impact, need to focus on the future of Philippine tourism: to become an industry that creates “low-density and high-value” experiences for consumers. In short, according to…
BORONGAN CITY, Eastern Samar—As the province has been able to keep COVID-19 cases to a minimum, some municipalities and this capital city have started to reopen their doors to leisure travelers, albeit just from the province for now. Borongan Mayor Jose Ivan Agda has allowed the opening and resumption of activities of local attractions…
Conglomerate Aboitiz Equity Ventures (AEV) saw a 276-percent year-on-year first quarter net profit growth to P7.6 billion, driven by the sharp earnings rebound across its power, banking, food, real estate and infrastructure businesses. Excluding non-recurring items, AEV’s core net income for the first three months of 2021 amounted to P7.8 billion, up by 243 percent…
The Philippine economy is well positioned for a sharp rebound after the coronavirus pandemic, thanks to structural reforms implemented after previous crises, especially in the banking system, according to the country’s chief financial regulator. In particular, Philippine banks are strong enough to weather the downturn brought about by the COVID-19 crisis due to their sufficient…
ILOILO CITY—Boracay Island’s tourism industry players are struggling to survive and are now pinning their hope on the government’s promised support under a “new normal” era that will focus on an eco-friendly strategy that combines “work and leisure” for tourists going to the island. “The current situation in Boracay is dire with most of the…
Recovery from the pandemic-induced recession will entail not only fast-tracking mass vaccination and sustaining infrastructure development but also some more additional reforms pushed by President Duterte’s economic team on Monday. Finance Secretary Carlos Dominguez III told the virtual forum that earlier reforms put in place by the Duterte administration eased COVID-19’s impact on the Philippine…
Technology giant Microsoft Corp. said over benefited from its digital skills training program during the COVID-19 pandemic. Launched last year, the initiative reached over people from and involved online courses from GitHub, LinkedIn and Microsoft in the areas of customer service, project management and data analysis. “Skills will be the new currency in the postpandemic…
Aboitiz-led Union Bank of the Philippines has invested some P1.9 billion to create new products and platforms that would contribute to social sustainability metrics amid the prolonged coronavirus (COVID-19) pandemic. This investment has, in turn, allowed the bank develop over 100 products and platforms that benefit the bank’s stakeholders and customers, Unionbank head of sustainability…