WASHINGTON - The wealthy Bill & Melinda Gates Foundation called Wednesday for global cooperation to ready COVID-19 vaccines for seven billion people, while offering $150 million toward developing therapeutics and treatments for the virus. While it is likely to take as many as 18 months to develop and fully test a safe coronavirus vaccine, global authorities and businesses need to start now on plans to manufacture it, said foundation chief executive Mark Suzman. "It's normal to have, at maximum, hundreds of millions of doses manufactured," he said. "When you are dealing with a novel pathogen like COVID-19, as and when we get to identifying a successful vaccine, we are going to need billions of doses." "There are seven billion people on the planet," he said. "We are going to need to vaccinate nearly every one. There is no manufacturing capacity to do that." Suzman announced the foundation, started and controlled by mega-billionaire Microsoft founder Bill Gates and his wife Melinda Gates, is adding $150 million to the $100 million it announced in February to help in international efforts to battle the coronavirus pandemic. Much of the money is to support the development of COVID-19 diagnostic tests, therapeutic treatments and vaccines, and to make them globally available, he said. Some is also for helping the poorest countries in South Asia and Sub-Saharan Africa, which lack supplies, equipment and infrastructure to counter the new epidemic. But the foundation has its focus on preparing for the creation of a vaccine that could effectively halt the spread of coronavirus. Some 100 potential vaccines are being developed and tested by scientists around the world, Suzman said. Many might appear hopeful in initial, small tests, he said, but most will fail in larger trials. "A successful vaccine has to be available for seven billion people. You need to test if there are unexpected side effects, or side effects within cohorts or groups, whether it's pregnant women or the elderly or the very young," said Suzman. "The vast majority of vaccine candidates fail in those larger trials, the so-called phase-three trials." 'FASTEST VACCINE EVER' But even as those trials take place, he said, there needs to be an international group of experts, countries and companies honing in on those with the most promise and preparing ahead of time to manufacture them. He said both China and the United States have to be part of the joint effort, as well as the World Health Organization. On Tuesday, US President Donald Trump said he was cutting off US funds for the WHO. "Clearly for us, the World Health Organization is a very strong, reliable partner," Suzman said, noting the Gates Foundation is WHO's second-largest source of funding after the US. Earlier Wednesday, European Commissioner chief Ursula von der Leyen called a donors conference for May 4 to fund the creation and global deployment of a vaccine, calling it "our collective best shot at beating the virus." Suzman said the Gates Foundation is "reasonably optimistic" that one or more successful vaccines can be proven within 12 to 18 months. "This will be the fastest vaccine ever developed in human history," he said. Yet getting the production going, he estimated, will cost several billion dollars. Each vaccine finally approved will require its own manufacturing process, and if people don't begin to prepare within months, a lot of time will be lost, he warned. "There will be no return to 'normal' until there is a vaccine," Suzman said. "But there are no dramatic ways to short-cut it." Agence France-Presse
MANILA - TikTok is encouraging users to promote positivity on the dance video platform during the COVID-19 lockdown, as frontliners in scrub suits go viral, its Philippines head said Thursday. Users are uploading more videos focused on safety and positivity after the enhanced community quarantine was imposed, said TikTok Philippines' User, Content and Community Operations manager Emmanuel John Castro. The World Health Organization (WHO) and the Department of Health (DOH) are among agencies that tapped TikTok to reach a wider audience, he said. "We make sure that these videos are shown in the Philippines because these promotes positivity we’ve always been craving for as Filipinos," Castro said.
"We try to promote the right kind of information out there because TikTok has been like a big platform of users for different ages," he said. Millions in Luzon have turned to social media platforms and the internet for entertainment during the lockdown of Luzon, which was extended until April 30. source: news.abs-cbn.com
MANILA -- Canned sardines maker Mega Global said Thursday it was working to increase capacity to meet heightened demand during the Luzon lockdown. Mega is transporting employees to its plant in Zamboanga to raise capacity to 75 percent from 50 percent, said its founder, William Tiu Lim.
The company's plant in Valenzuela City north of Metro Manila is helping the company meet demand in the region, he told ANC. "We are looking at ways and means to get more people coming in so capacity will be bigger," he said. source: news.abs-cbn.com
SAN FRANCISICO - Is now the time to launch a new iPhone? Despite a pandemic-induced global economic crisis, Apple is widely believed to be set to release a reduced-priced handset that aims to fill a gap in its lineup, as early as this month. Google could also follow a similar path, after Samsung last week unveiled new devices costs less than $500. Reports suggest that the new Apple handset, to be called iPhone SE or iPhone 9, could have a starting price under $400, and generate some growth with the timetable uncertain for a new flagship smartphone for the California giant. "While launching a mid-cycle budget/entry-level smartphone into the backdrop of a consumer global lockdown and unprecedented pandemic will be head-scratcher to some, we note that Apple is viewing this as a low volume, low touch release with little fanfare as the phones are already ready to ship," Wedbush Securities analyst Daniel Ives said in a research note. Ives said Apple is likely to be able to sell 20 million to 25 million of the new devices before a new flagship iPhone 12 is ready to ship. Any new smartphone release would be without the splashy unveiling for which Apple is known, and would rely on online sales with most retail stores closed. CONSUMERS SEEKING UPGRADES South Korean colossus Samsung last week introduced new smartphones that included a model designed to work on much-hyped new-generation 5G mobile networks and priced less than $500. "People might have less money to spend, but at the same time they want better technology," said Creative Strategies analyst Carolina Milanesi. "In the US, where it was very high-end or cheap smartphones and the middle had disappeared, that mid-tier has come back." Milanesi said these new phones could have some appeal to financially strained consumers, as some high-end devices reach dizzying prices as much as $1,500. TIS THE SEASON Design and production of smartphones launching this year began long before the coronavirus pandemic, meaning makers are locked into model specifications. "We are getting into the season," Milanesi said of escalating rumors that Apple and Google are poised to announce new handsets. But some of the new devices may end up being timely in appealing to budget-minded consumers seeking an upgrade or replacement. A mid-priced iPhone has potential to appeal to users more interesting features such as cameras, screens, and battery life and less interested in "gimmicks" prized by early adopters, Milanesi maintained. "This is not a response to coronavirus for sure; it just seems to suit the market better," she said. Apple has remained mum on any iPhone plans. Google has been known to introduce devices at its annual developers' conference, which was slated for next month but canceled due to the pandemic. The likely entry for Google would be a Pixel 4A -- a successor to its reduced-price sibling for its flagship Pixel smartphone. Analyst Patrick Moorhead of Moor Insights and Strategy said Apple and others are being forced to consider the economic upheaval. "Forced to chose between buying a new iPhone and eating, people will chose to eat," Moorhead said. "It's important for Apple to just not lose iPhone sales." It remains to be seen if the new devices can generate traction during the deep economic slump. The new models will be arriving at a time of surging use of desktop or laptop computers by people staying home instead of being out and about relying on smartphones, according to Milanesi. "A lot of people are home, so mobility is not a top priority," the analyst said. Agence France-Presse
MANILA - The Philippines' business process outsourcing industry may stand to benefit from the "next wave" of outsourcing as companies around the world cut costs due to the COVID-19 pandemic, an industry expert said on Sunday. Derek Gallimore, CEO of Outsource Accelerator, said the Philippine BPO industry presents "incredible savings" to companies abroad who are looking to slash workforce expenses with uncertainties facing the global economy. Gallimore said that while the average salary of a US worker is around $60,000 a year, a Filipino's salary would be just around $6,000 a year. Medium and small enterprises in English-speaking countries, which were badly affected by the pandemic, would likely look to outsourcing, Gallimore said. He also dismissed suggestions that technologies such as artificial intelligence are making outsourcing obsolete. "Absolutely not, it is exactly the opposite," Gallimore said noting that the BPO industry in the Philippines is moving away from low-value repetitive tasks that are vulnerable to automation. High-value tasks like coding, design, marketing are replacing low-value outsourcing, he said. source: news.abs-cbn.com
MANILA – Credit card users don’t need to worry about paying late fees and finance charges during the 30-day grace period for payments due within the enhanced community quarantine in Luzon, the Bangko Sentral ng Pilipinas said on Thursday. BSP managing director Pia Roman-Tayag said that under the implementing rules and regulations of the Bayanihan to Heal As One Act, collecting these fees is not allowed during the lockdown period. “There, it is very explicit, that no fees and charges will be incurred, and no interest,” said Tayag, who heads the BSP’s Center for Learning and Inclusion Advocacy. Credit card issuers are allowed to collect interest charges on people who pay only the minimum amount required, Tayag said. But this interest will be paid on a staggered basis to spare credit card users from a “bill shock,” the BSP official said. People who pay their credit card bills in full will not get any extra charges in their bills, which means their due date is effectively extended, Tayag said. The BSP said the grace period applies not only to consumer loans, such as credit card, auto and housing loans, but also to commercial loans. Tayag added that the grace period covers not just loans extended by banks and financial institutions supervised by the BSP, but to all businesses that extend loans, including real estate companies with in-house financing. The entire island of Luzon was placed under enhanced community quarantine to stop the spread of COVID-19 from March 17 to April 12. source: news.abs-cbn.com
MANILA – Central banks should take advantage of low inflation to “print lots of money” to support their economies as governments around the world implement lockdowns to check the spread of COVID-19, an analyst said on Tuesday. The risk of sparking hyperinflation, similar to what happened in Zimbabwe and Argentina is very low right now, according to Jeffrey Halley, senior market analyst at currency trader OANDA. “It's actually not a bad time to do it because we basically have zero to no inflation in the world,” Halley said in an interview with ANC. "There’s never been a better time for governments to go and print lots of money and throw it at the economy." Halley said small businesses could benefit from central banks “directly giving money” to businesses because firms are more concerned about cash flow rather than interest rates. “Small businesses don’t care what their borrowing costs are. They care about having enough money to pay their staff and their invoices at the end of the month.” He said that some of the major world economies might be in for a “hard landing” despite the stimulus programs they have announced. “I think what we really have to understand here is that these stimulus packages are here to keep the lights on in the global economy they’re not there to be a magic panacea that turns that ship around and immediately starts growth up again.” source: news.abs-cbn.com
MANILA – Poultry farmers are finding it difficult to supply chicken to Metro Manila and parts of Luzon because local government units are not implementing the policies laid down by the national government, the head of an industry group said on Sunday. The United Broiler Raisers Association (UBRA) said some LGUs have set up roadblocks and personnel restrictions that have affected their deliveries and supply chains. This was in spite of the order from the national government to allow food deliveries through checkpoints. “There was an LGU in Nueva Ecija who piled 2 dump trucks in the middle of the road and no one can pass (not) even their constituents. Things like those disrupt the supply chain and also the movement of essential personnel,” UBRA president Bong Inciong said in an interview with ANC. Central Luzon and the Calabarzon areas are particularly critical to the supply of poultry to Metro Manila and Luzon, Inciong said. Poultry farmers, he said, hope that by this week, the national government will be able to convince LGUs to withdraw restrictions on the movement of poultry farm personnel; the delivery of feeds, medicines and other supplies; as well as the delivery of poultry to markets. “If we don’t straighten this out… in 30 days we will start to feel the effects.” The poultry industry has also been battered by the drop in demand, which plunged farmgate prices of chicken to P30 on Saturday from P69 before the lockdown, Inciong said. source: news.abs-cbn.com
MANILA - Twelve Filipino doctors have died fighting the COVID-19 pandemic, an official of the Philippine Medical Association said Sunday. "We still have some other patients confined and fighting the illness at this time. Hopefully, we don’t add more to the list of deaths among our practitioners, our physicians," Dr. Oscar Tinio, chair of the association's commission on legislation, told ANC. "We’re still grieving but, at this point, we cannot do anything about what has lapsed already, what has been done already." The country's latest death toll from the novel coronavirus outbreak stood at 68, as of Saturday, out of the countrywide tally of 1,075 cases. Tinio estimates that more than 5 percent of the country's health workers are also currently on quarantine due to the nature of their work in directly dealing with the disease. To underscore the need of protecting all healthcare professionals in the country amid the COVID-19 pandemic, Tinio disclosed that the doctor-to-patient ratio currently stands at 1:40,000, far from the ideal 1:10,000. The country also does not have enough nurses, as they would "rather work somewhere else," he added. "In Metro Manila, we have an over-concentration of physicians. In other areas, we have relatively very few doctors in remote areas of Luzon and all over the country as well," Tinio said. While he appreciates the effort of government to get volunteer health workers to augment the current active medical workforce, Tinio said "definitely, it's not fair" to offer them only P500 per day in allowance. According to the Department of Health, 690 individuals have signified interest, as of Sunday noon, to become HealthCare Warriors. Tinio, meanwhile, urged the DOH to augment the supply of medical equipment in public and private hospitals such as face masks and personal protective equipment (PPEs). "We're willing to procure them, (but) they're not available. The government, probably they would have supplies available," he said. Rustico Jimenez, president of the Private Hospitals Association of the Philippines, told DOH to "immediately release" PPEs to hospitals and do away with requests before giving supplies. "We still have to request to them when to deliver and where to deliver the donated PPEs and others. It should be distributed immediately to save our frontliners. There should be no delay," he told ANC in a separate interview. "Do not wait for more frontliners to die and to be quarantined." Tinio, meantime, thanked those who have been giving support to health workers and frontline personnel. "I would like to recognize and thank all those who have been active in providing for assistance and services to the medical professionals, all other healthcare providers as well, especially those people who have been giving us donations in the form of PPEs or food or anything to that effect," Tinio said. source: news.abs-cbn.com
The San Francisco Bay Area is on lockdown due to the coronavirus disease 2019 (COVID-19) pandemic. US President Donald Trump urges Americans on Monday to hold off most social activities for 15 days and not congregate in groups larger than 10 people. ABS-CBN North America bureau chief TJ Manotoc with the details. - Early Edition, ANC, March 17, 2020 source: news.abs-cbn.com
MANILA - A media law expert on Tuesday urged the Supreme Court to act judiciously on the quo warranto petition seeking to void ABS-CBN's franchise, saying the network's shutdown would be "a very dark day" for the country. On ANC's Headstart, lawyer Marichu Lambino, an expert on media law and ethics at the University of the Philippines College of Mass Communication, stressed that the right to a free press is vital to the nation. "We hope that the Supreme Court acts judiciously and follows all the precedents on whether or not it can repeal a legislative franchise, or whether or not it should exercise the administrative regulation reposed upon the National Telecommunications Commission," said Lambino. "The nation will not survive a single day without a free and independent press," she said. On Monday, Solicitor General Jose Calida filed a quo warranto petition against ABS-CBN Corp and ABS-CBN Convergence, citing supposed "abuses" in their franchises. "The filing of the quo warranto was resorted to because it can be fast, it can be granted in a quick manner, or it can be granted in a judicious manner depending on the Supreme Court," said Lambino. Lambino believes it is highly probable that Congress would not act on the network's franchise issue because they are going on recess on March 11. ABS-CBN Corp's franchise is due to expire by the end of March, while its subsidiary, which runs movie channel Kapamilya Box Office, will have its franchise lapse by June 30, 2022. Several bills are pending in Congress for the renewal of the ABS-CBN franchise, but no panel hearings have been set. President Rodrigo Duterte has several times expressed his opposition to allowing the network to continue airing. "I think it's very frightening when that day comes when we will just see a no signal. It would just be a very dark day for this country when that happens," she said. She added: "We need ABS-CBN to be there when we are all sleeping and your reporters are awake watching the world for us, watching if there are super typhoons, if there are disasters, if the world is going to crack open. We need ABS-CBN there." House Deputy Speaker Johnny Pimentel earlier cited 2 different legal experts' views on whether or not ABS-CBN could still air its programs if its franchise is not renewed. "Based on experience, there have been some franchisees that have been able to operate in spite of the expiration of their franchise and these are small telcos, local telcos, small radio station," Pimentel said. But Pimentel stressed that ABS-CBN's case is different. "We know very well that the President has been very vocal, has made some pronouncements that he does not want ABS-CBN to be renewed," he said. He said the network couldn’t do anything if the NTC orders it to stop airing its programs.
Lambino added that based on practice, the NTC grants a grace period. "But if there are orders from higher ups, we might see darkness on March 31," she said. Malacañang on Monday said the President's verbal attacks against ABS-CBN Corp. is not related to the filing of the quo warranto petition against the network. But Lambino believes otherwise. "The pronouncement of the president is policy, so it’s going to be followed by government officials," Lambino said. source: news.abs-cbn.com
MANILA -- Virus-stricken China poses a drag on the global economy, giving the world's central banks, including the Philippines, room to cut interest rates earlier than expected, ING Bank said Friday. World commodity prices will remain "depressed" due to weak demand from China, where millions are on lockdown and with many countries closing their borders to those from the mainland, said ING Bank analyst Nicholas Antonio Mapa. With Thailand cutting rates and the US Federal Reserve likely to cut this year due to the coronavirus outbreak, Mapa said investors seeking higher yields are unlikely to leave the Philippines. "If everyone's cutting, there's no change in the relative field," Mapa told ANC's Market Edge. "Everybody's alternatives are few and far between." Bangko Sentral ng Pilipinas Governor Benjamin Diokno fired the first half of his planned 50-basis point cut in the overnight borrowing rate last Thursday, calling it a "preemptive" move. Diokno said first half economic growth could be reduced by 0.3 point because of the virus. Mapa said he could lower his forecast for full year growth to 6.4 percent from 6.5 percent. The BSP governor is "very clear where he wants to be," Mapa said. "Transparency and good communications from the BSP will go a long way in maintaining financial market calm." source: news.abs-cbn.com
The devastating volcanic eruption of Mt. Pinatubo happened nearly three decades ago. Government volcanologists warn an explosive eruption by Taal Volcano will be different. - The World Tonight, ANC, January 16, 2020 source: news.abs-cbn.com
MANILA – The Taal Volcano is still erupting but its activity has gone weaker than in previous days, according to the country's chief seismologist on Wednesday. But how long the eruptions would last depends on the speed of the rise of magma. Phivolcs executive director Renato Solidum said Wednesday they still record a lot of earthquakes at the Taal volcano and its general area, and many of these temblors have been felt. "These can be interpreted as magma intruding from beneath the volcano causing fissures to move, causing earthquakes and also lifting off the ground. Hence, if these magma would continue to rise there can still be further activity related to the current situation," Solidum said on ANC's Headstart. Solidum cannot exactly tell how long Taal's eruptions will be as he said the volcano has exhibited various styles of eruptions in the past, lasting from a few days to several months. In 1911, Solidum said the eruption lasted for only 3 to 4 days. In 1965, it lasted for a month and in 1754, the eruption continued on for around 7 months. "These would be dependent on the ascent of the magma, how fast it would move up or whether the magma would stop moving. As we try to analyze this we rely on 2 things: the earthquakes and deformation on the ground," he explained. He said volcanoes have different styles and speeds of eruption and precursors. Taal’s behavior, he said, could go from having precursors and not erupting to having precursors and then erupting within several days to several weeks. “When any volcano would erupt, it has to show signs of the activities escalating. However, that volcano did not accelerate its activity and in fact even half a day or a day before there were no significant earthquake events or even maybe 12 or 6 hours before, if you look at seismic record, there was no record,” he said. The volcano’s activity accelerated in a span of around 6 hours, prompting Phivolcs to immediately raise its alert level. In comparison, Mount Pinatubo, which erupted in 1991, recorded activity that signaled its destructive eruption on June 15 of that year. There were quakes that March, phreatic eruptions a month later, steam emissions in May, and then a small ash emission prior to its major eruption. “You can see clearly the big difference in the timing and sequence of the events versus what happened last Sunday,” he said. Solidum said Phivolcs, the local government, and disaster management teams have been preparing for the possibility of Taal's hazardous eruption. "The explosive eruption scenario, and this is the scenario we have been preparing for together with the Batangas Provincial Risk Reduction [and] Management Office, is still possible simply because of the fact that we still have a lot of earthquakes and ground deformation within the area," he said. Sunday's activity initially started as a phreatic eruption. When the crater was depressurized, he said magma suddenly rose and produced more eruptions turning it into a phreatomagmatic eruption. "The highest eruption column that we saw was around 10 to 15 kilometers last Sunday, late afternoon and evening, and for many volcanoes that would really be considered hazardous," he said. Lava fountaining was observed by early Monday morning, resulting in a magmatic eruption. While it was hazardous, Phivolcs said they have not yet seen pyroclastic density currents or the flow of rocks and ash down the slope of the volcano or even horizontally-moving out of the crater towards the lake. "That is what we call a hazardous volcanic eruption when Taal would exhibit not only tall eruption columns, but horizontally-moving clouds more than 60 kilometers per hour that even reach the mainland and cross above the water," he said. Thousands of residents were evacuated after the volcano spewed ash and destroyed homes, plants, and animals on Sunday. "If the volcano would rapidly increase in activity then there will be additional evacuation and that has happened. Unfortunately the volcano changed its condition very rapidly," he said. source: news.abs-cbn.com
Online shopping and changes in local government policies are affecting sales of small vendors across Metro Manila this holiday season. ANC, Business Nightly, December 23, 2019 source: news.abs-cbn.com
In this edition of #MattersofFact, how can the ongoing impeachment inquiry against US President Donald Trump affect the global and Philippine economy? Jeffrey Halley, OANDA's Asia Pacific senior market analyst, and John Forbes, senior adviser of the American Chamber of Commerce share their thoughts. source: news.abs-cbn.com
Thousands of students gather at Berlin's Brandenburg gate to protest for climate protection. Meanwhile, in Asia, the global-climate strikes began in earnest, with groups calling for more concrete action from governments and the private sector. As Bruce Rodriguez reports, more companies in the Philippines are also taking part in sustainable initiatives. source: news.abs-cbn.com
Three Philippine online lending firms are charged with data privacy violations after borrowers complained their lending apps sent text messages on their own and took control of their phone cameras. Warren de Guzman with the details. - The World Tonight, ANC, September 6, 2019 source: news.abs-cbn.com
A muscle car is badder, louder, and more powerful than your typical daily driver. Howard Roxas, a self-proclaimed muscle car enthusiast, joins us and showcases his restored 1969 Ford Mustang Mach 1. Watch and see how this classic American muscle flexes its 5.7L engine to prove that it’s good to be bad. source: news.abs-cbn.com
