El Niño causes P4 billion agriculture losses

Jean Mangaluz 04/25/2024

MANILA, Philippines — The El Niño weather pattern has led to around P4 billion in losses for agriculture, a government official announced on Wednesday. Joey Villarama, a spokesperson for the El Niño Task Force, stated that this…

PCSO losing P.5 million a day due to canceled lotto tickets

Jean Mangaluz 01/18/2024

MANILA, Philippines — The Philippine Charity Sweepstakes Office (PCSO) reported on Thursday that the agency is losing approximately half a million daily due to canceled lotto tickets. During the hearing of the Senate committee on ways and…

Iloilo lost P3.7B during 3-day power outage

Ruchelle Denise Demaisip 01/13/2024

ILOILO CITY — Iloilo incurred more than P3.7 billion in economic losses during last week’s three-day power outage on the islands of Panay and Guimaras and parts of Negros. Mario Nillos, head of the Provincial Planning and…

BEEP Cebu announces suspension of operations for 6 months

Futch Anthony Inso 09/25/2023

LAPU-LAPU CITY, Cebu – A modern jeepney company in Cebu has decided to temporarily suspend its operations as it suffers from “severe problems.” In a Memorandum dated September 22, 2023, BEEP Cebu said that it will suspend…

ABS-CBN’s TeleRadyo shuts down on June 30

John Eric Mendoza 05/23/2023

MANILA, Philippines — ABS-CBN on Tuesday announced that TeleRadyo, which formerly airs dzMM programs, would cease operations on June 30 due to financial losses. “TeleRadyo has been incurring financial losses since 2020,” the network said in a…

Business groups bargain for terms in proposed P150 wage hike

Alden Monzon 05/13/2023

MANILA  -Three major, local business groups are seeking a compromise to the planned P150 across-the-board daily wage hike in the Senate, including the exemption of local firms engaged in direct exporting, as well as a “graduated” implementation…

As Cebu Air deals with empty seats, costly plane upkeep, losses hit P14.7B

Miguel R. Camus 11/12/2020

Heavy losses continued for the operator of budget airline Cebu Pacific amid the COVID-19 pandemic. Cebu Air Inc. disclosed on Wednesday a net loss of P14.7 billion by the end of September this year—a reversal of the…

PAL losses widened to P9.4B in 1st quarter

Miguel Camus - Philippine Daily Inquirer 06/06/2020

The listed operator of Philippine Airlines (PAL) posted a P9.4-billion loss in the first quarter of 2020, reflecting the stagge­ring impact the new coronavirus disease (COVID-19) pandemic has unleashed on the aviation sector. Taipan Lucio Tan’s PAL…

Cebu City Sharks can’t afford any more losses

JONAS PANERIO 12/27/2018

THE Cebu City Sharks-Casino Ethyl Alcohol are treating every game from hereon end as must-win situations as they bid to make the playoffs of the Maharlika Pilipinas Basketball League Datu Cup. The Sharks convened for practice for…

GRECON: Rice SRP would bring huge losses to traders

Irene Sino-Cruz and Futch Anthony Inso 11/13/2018

If Cebu rice retailers implement the suggested retail prices (SRP) for rice, this move would cripple their businesses. During yesterday’s orientation on the implementation of the SRP on rice in Cebu, Consolacion Mayor Teresa Alegrado, president of…

Job-skills mismatch causing losses to economy, says exec

Rosalie O. Abatayo 05/17/2018

Cebu economy is losing about P80 million because of unfilled job vacancies. This is according to Wesley Chiongbian, Mynimo.com CEO during a press briefing on Thursday. Chiongbian said he based his figure on a Mynimo informal study…

Traffic losses

Editorial 04/05/2018

A traffic study done by the Japan International Cooperation Agency (Jica) detailing how Metro Cebu sustained daily economic losses amounting to P1.1 billion due to poorly planned infrastructure projects may convince some Cebu City officials and the…

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