Businesses urged to innovate, prepare for digital-based economy

Businesses urged to innovate, prepare for digital-based economy

“The enterprises must be ready to more aggressively innovate, to shift more rapidly to take advantage of new digital technologies and to identify emerging business opportunities. These are not only moving into the ‘new normal.’ We should be purposefully moving toward a ‘new economy,’” Finance Secretary Carlos Dominguez III said.

PH economy in recession as Q2 GDP plunges 16.5%

PH economy in recession as Q2 GDP plunges 16.5%

The Philippine economy plunged 16.5 percent in the second quarter, the worst drop since democracy was restored in 1986 as lockdowns caused by the Covid-19 pandemic took a heavy toll on businesses.

San Miguel F&B revenues down nearly a fifth in first half

San Miguel F&B revenues down nearly a fifth in first half

San Miguel Food and Beverage, Inc. (SMFB) on Wednesday, Aug. 5, reported that consolidated revenues declined by 19 percent to P122.82 billion in the first half, reflecting the impact of lockdowns caused by the Covid-19 pandemic.

Inflation accelerates to 2.7% in July

Inflation accelerates to 2.7% in July

The Philippine Statistics Authority (PSA) reported a higher inflation rate of 2.7 percent for July 2020, from June’s 2.5 percent, as the economic crunch due to the pandemic bore down on transport costs.

DTI: Dine-in restaurants, gyms, salons ‘not allowed’ under MECQ

DTI: Dine-in restaurants, gyms, salons ‘not allowed’ under MECQ

Dine-in restaurants, barbershops, salons, gyms, and other businesses have been ordered to temporarily shut down as Metro Manila and other nearby provinces were placed under the Modified Enhanced Community Quarantine (MECQ) by President Rodrigo Duterte from Aug. 4 to 18.