Companies

US department store chain JCPenney, which has not turned a profit since 2011 became the latest American retailer to be pushed into bankruptcy by the COVID-19 pandemic.

Global airlines, after incurring unprecedented losses and possible bankruptcy due to the COVID-19 pandemic, are bound to face a tough time convincing people air travel is safe when commercial flight operations resume under new normal protocols.

In post-COVID-19 lockdown scenario, half of Philippine restaurants might close shop, work-from-home (WFH) arrangements may not be suitable for many businesses and a number of upper-middle residential condominium could suffer reduction in value, according to property consultant David Leechiu.

Small business or those under the category of micro, small and medium enterprises (MSME) will have to adapt to overcome the grave economic effects of the COVID-19 pandemic.

The global response to the current COVID-19 pandemic have led to a decline in the global economy, with the majority of businesses, big or small, that run through physical stores being the most affected.

The gross domestic product (GDP) dipped 0.2 percent in the first quarter as the economy shrank after more than two decades due to the COVID-19 pandemic.

The country’s economic managers are deliberating a P80-billion to P100-billion stimulus package for micro and small businesses to help them cope with the disastrous economic effects of the COVID-19 pandemic, according to Department of Trade and Industry Secretary Ramon Lopez.

The Manila International Airport Authority (MIAA) has incurred over a billion pesos in financial losses due to air travel restrictions arising from the COVID-19 pandemic.

The Philippine Senate is seriously considering providing a “liability shield” for local businesses, on the trail of a similar bill filed in the US Congress that many American businessmen are clamoring when the US economy starts to reopen.

Statistics show that 77% or more than 7 out of 10 Filipinos have never been to a dentist. This is according to the National Monitoring and Evaluation Dental Survey conducted by the Department of Health. While the Philippine Dental Association (PDA) reported that 78% of Filipino children below 12 years old have dental problems.