BusinessWorld
April 30, 2021 | 5:25 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
STOCKS declined on Friday following the release of data showing the National Capital Region’s (NCR) output contracted by double digits in 2020, which weighed on the Philippine economy.
The Philippine Stock Exchange index shed 116.64 points or 1.79% to close at 6,370.87 on Friday, while the all shares index dropped by 44.93 points or 1.13% to 3,923.03.
“The market slid especially during the last minute of trading as investor sentiment was affected by the PSA’s (Philippine Statistics Authority) report that the NCR shrunk 10.1% in the year 2020,” Darren Blaine T. Pangan, trader at Timson Securities, Inc., said via Viber message.
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+ April 30, 2021 BUSINESS leaders in Cebu have reiterated their appeal to speed up the Covid-19 vaccination rollout and urged businesses to invest in other industries like manufacturing and tourism following the drastic decline of Central Visayas’ economic performance in 2020.
Region 7 ended the pandemic year of 2020 with its worst economic performance of negative 9.9 percent growth.
Mandaue Chamber of Commerce and Industry president Steven Yu noted that because Cebu is an economy propped up by service and service-related industries, it cannot survive on a new normal based on restricting social and human interactions.
“That is why we need to get vaccinated soon. Let us continue to hope and pray that we will sustain this modified general community quarantine while we do our vaccinations. This is our only hope for exiting this pandemic-induced economic maelstrom,” he said.
PhilSys Step 1 open online to public today visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
(PHILIPPINE STATISTICS AUTHORITY)
“We apologize for any inconvenience caused by the downtime of the pilot launch of the PhilSys (Philippine Identification System) online Step 1 Registration website earlier today (April 30),” PSA said in a statement.
It pointed out that the agency received more than 40,000 registration requests during the first minutes of the pilot launch.
“This caused delays in the sending of the one-time passwords (OTPs) necessary to proceed with the registration,” PSA said.
“We are urgently looking into the issue and updating the website to resolve this technical challenge,” it added.
PSA said it will provide an update on its PhilSys Facebook page as soon as the website is once again operational.
Lower fuel prices saved the day from spike in pork costs, says BSP Lower fuel prices saved the day from spike in pork costs, says BSP
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MANILA, Philippines Prices of goods and services likely rose by the same magnitude in April as it did in March as lower fuel prices helped prevent higher food costs from blowing inflation up, according to the Bangko Sentral ng Pilipinas (BSP), the Philippine central bank.
In a statement, BSP economists projected the April 2021 inflation rate to settle within the range of 4.2–5 percent the same estimate range they made for March, which eventually saw consumer price index settle down officially at 4.5 percent.