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200,000 container ship crew stranded at sea due to pandemic

Agence France Presse 07/12/2020

LONDON — More than a dozen countries, including the Philippines, have called for urgent action to solve a seafaring crisis that has left some 200,000 container ship crew stranded at sea due to the new coronavirus pandemic.…

Cebu biz groups appeal for financial support to disrupted firms, MSMEs

Morexette Marie B. Erram 07/11/2020

CEBU CITY, Philippines — At least six business groups in Cebu made a request for the government to provide financial assistance to members of the business community severely impacted by the coronavirus disease 2019 (COVID-19) pandemic, particularly…

Online seller, friends in Cebu give their lasagna an added surprise

Immae Lachica 07/11/2020

  CEBU CITY, Philippines — The online world has been a platform for not just entertainment and information but has also become the avenue for businesses. And since the whole pandemic came to play, and because of…

SEC eyes new investment vehicle to cushion economic fallout from COVID-19

Rosalie O. Abatayo 07/11/2020

CEBU CITY, Philippines — As part of its efforts to cushion the economic fallout brought by the coronavirus disease 2019 (COVID-19) pandemic, the Securities and Exchange Commission (SEC) is working on a new investment vehicle for the…

1,500-hectare reclamation in Cordova to push through

Morexette Marie B. Erram 07/10/2020

CEBU CITY, Philippines – A proposal to reclaim land up to 1,500 hectares in the fishing town of Cordova on Mactan Island, Cebu will push through. This after local officials announced that SM Prime Holdings Inc. (SMPH)…

BOC-Cebu earns P2.1M from auctioned forfeited goods

Morexette Marie B. Erram 07/09/2020

CEBU CITY, Philippines — The Bureau of Customs in Cebu (BOC-Cebu) earned P2.1 million after auctioning off forfeited goods. BOC-Cebu, in a statement released on Thursday, July 9, said that they had auctioned off 28 containers filled…

COA to Cebu City: Remit P43M to BIR, GSIS, PAG-IBIG, Philhealth

Delta Dyrecka Letigio 07/09/2020

CEBU CITY, Philippines — The Commission on Audit (COA) has asked the Cebu City government to remit the P43,156,394.00 funds withheld in 2019 due to the Bureau of Internal Revenue, Government Service Insurance System (GSIS), PAG-IBIG Fund,…

COA: Lapu’s education fund utilization under 10% in 2019

Rosalie O. Abatayo 07/09/2020

CEBU CITY, Philippines —The Commission on Audit (COA) has flagged the underutilization of education funds by the Lapu-Lapu City government for 2019.  The city government, in 2019, appropriated a total Special Education Fund of P366,184,000 and P375,944,031…

Gov’t urged: More int’l flights for repatriated OFWS

Morexette Marie B. Erram 07/09/2020

CEBU CITY, Philippines — In an effort to boost the recovery of the tourism and hotel industry in Cebu, the largest group of hotels and resorts here is encouraging government agencies to have more international flights catering…

Corporate debt funds eyed to prevent financial crunch amid COVID-19 crisis

Doris Dumlao-Abadilla - Reporter / @philbizwatcher 07/09/2020

The Securities and Exchange Commission seeks to help prevent the coronavirus (COVID-19) pandemic from spawning local financial crunch by soon allowing the creation of new investment vehicles called corporate debt funds (CDFs) that will primarily invest in…

Capitol gets P1.2B supplemental budget for COVID response, recovery

Rosalie O. Abatayo 07/06/2020

CEBU CITY, Philippines — The Cebu Provincial Board has passed a P1.2-billion supplemental budget intended for the Capitol’s response and recovery projects from the effects of the coronavirus disease (COVID-19) and the subsequent lockdown that resulted to…

Double-digit plunge in MCIA traffic from January to May

Morexette Marie B. Erram 07/05/2020

CEBU CITY, Philippines — The Mactan Cebu International Airport Authority (MCIAA) recorded double-digit decline rates in airport traffic from January to May 2020. Statistics posted by MCIAA on their official website showed that all air, passenger, and…

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