Country risk measurement

Following the reports from various European medical agencies regarding the possible link between blood clotting and the AstraZeneca vaccine, and with the Department of Health and the Food and Drug Administration (FDA) announcing announcing their move of temporarily suspending AstraZeneca vaccination for persons below 60, Presidential Adviser for Entrepreneurship and Go Negosyo Founder Joey Concepcion 3rd highlighted that we should focus on and not forget the huge benefits of the vaccine, which outweigh its potential risks. “Of course, any information like this is a point of concern. Most especially, we are expecting around 22 to 26 million total combined doses of AstraZeneca from the Covax facility for local government units (LGUs) and private sector procurement. However, it’s important to note that the majority of the workforce in the private sector as well as LGUs belong to the age group below 60. So, this greatly affects our population. Vaccinating Filipinos is critical to our ... » Learn More about Concepcion: Huge benefits outweigh risk of AstraZeneca vaccine

Employers must ensure that staff members work from home as far as possible, said the multi-ministry task force handling the coronavirus outbreak, as it turned its attention to securing workplaces. Manpower Minister Josephine Teo said her ministry is looking to increase potential penalties - including stop-work orders and fines - for firms which avoid implementing telecommuting. "Employers must allow your employees to work from home as far as reasonably practicable. This applies to all workplaces regardless of size, and it should be for all times, all days, and not some times, some days," she said at a virtual media conference - the first such briefing by the task force. The Manpower Ministry estimates that only 40 per cent of workers in the Central Business District currently work from home. The new measures on workplaces came as the task force noted the worrying trend of increasing local cases and stressed the importance of safe distancing to protect vulnerable groups like ... » Learn More about Coronavirus: Workers must work from home as far as possible, says MOM

Banks in the Philippines could experience a systemic solvency impact if additional downside risks materialize despite their ability to withstand the exceptionally severe shocks, according to the International Monetary Fund (IMF). In a report released over the weekend, the IMF said the key risks to financial stability stem from the coronavirus disease 2019 (Covid-19) pandemic and bank-corporate linkages. “Distress to the corporate sector could be widespread even in the baseline and sharply rise in adverse scenarios, elevating credit risks to banks,” it stressed. In the baseline scenario, the IMF said banks’ total capital adequacy ratio (CAR) slides from 15.6 percent to 11.7 percent by 2022, still higher than the 10-percent minimum requirement even without sectoral policy effects. However, CAR plunges to 9.3 percent in the adverse scenario, and 4.9 percent in the severe adverse scenarios. “The second-round effects from such distress might reduce the real GDP (gross domestic ... » Learn More about IMF warns banks of systematic impact

SINGAPORE - From June 2, pre-schools will start to resume general services for children in stages, Minister for Social and Family Development Desmond Lee said on Tuesday (May 19). Kindergarten 1 and Kindergarten 2 children - five- and six-year-olds - will be the first to return from June 2, while Nursery 1 and Nursery 2 children may go back a week later, from June 8. From June 10, the youngest group of children in infant care and playgroups may return. In tandem with circuit breaker measures, pre-schools have been closed  since April 8 to most children except for a small group who need care support. When they reopen, centres will have to adhere to safe management measures such as compulsory mask or shield wearing for all staff and children aged two years and older, having smaller groups of children during activities, as well as staggering drop-off and pick-up timings of children. Speaking at a press conference by the multi-ministry task force tackling Covid-19 in Singapore, ... » Learn More about Pre-schools in Singapore to open from June 2 in stages, with K1 and K2 kids returning first

SINGAPORE - Ms Jayme Tan received the "best Mother's Day present" last Wednesday (May 6): her husband back home. Mr Xie Jiahao was finally reunited with his wife and children after 51 days away battling Covid-19 - all because of a good deed. On March 16, the 37-year-old decided to comfort his bereaved friend, who had just lost his wife, by staying over at his home for a week. His friend, who had just returned from Britain, tested positive for Covid-19 on March 22. Mr Xie, an assistant vice-president of digital marketing, was immediately quarantined and tested positive on March 30. He was moved to D'Resort NTUC in Pasir Ris on April 5 as his mild symptoms had subsided. It took another month before he finally scored two consecutive negative swab tests and was discharged - fortuitously, on his mother's birthday and two days after his own. After coping on her own with two pre-schoolers, Ms Tan, who is 14 weeks pregnant with her third child, says: "I'm overwhelmed by happiness. ... » Learn More about Managing the home while hubby battles Covid-19: 3 mums and the challenges they face

PHNOM PENH : Cambodia’s strongman premier Hun Sen threatened quarantine-breakers with jail time on Saturday and warned civil servants they could lose their jobs if they go unvaccinated, as the country grapples with a growing coronavirus caseload. In the past two days Cambodia has registered more than 1,000 infections — many among garment workers and market vendors — bringing the country’s tally to 4,081 cases and 26 deaths. Authorities this week banned travel between provinces, imposed a night-time curfew in the capital Phnom Penh and shut down popular tourism sites including the famed Angkor Wat archaeological park. Wearing face masks is now mandatory in Phnom Penh and violators face a fine of up to $250. But Prime Minister Hun Sen on Saturday threatened harsher measures, saying anyone who flouts a two-week quarantine period would face a “quick trial” and jail time. “People who break Covid measures must be sentenced,” he said on state-run TV. “I accept being called a ... » Learn More about Cambodian PM threatens quarantine-breakers

SINGAPORE - A study of the management boards of charities has found that greater diversity of board members shows better financial performance for the charity. The study by Conjunct Consulting, a charity which provides consultancy services to charities and social enterprises, collected data on the board composition and financial performance metrics of 204 Institutions of a Public Character (IPC). IPCs are charities that are allowed to collect tax-deductible donations. It did the study, as there were none done on board diversity and organisational performance of charities here, said Conjunct's executive director Yasmine Tan. The study focused on financial indicators, as IPCs span a range of sectors from the arts to social services to sports and it is hard to find other common indicators to measure organisational performance or impact. Ms Tan said: "As board members are tasked with the crucial role of guiding the charity's strategy and direction, we believe it is imperative for ... » Learn More about Greater diversity on charity management boards associated with better financial performance: Study

WHILE vaccines, vaccine passports and vaxications are tempting, reachable goals to restore normalcy in travel and migration mobility, the Covid-19 virus remains the indecipherable variable holding up a new normal. For international travel “to come back,” more people must be vaccinated, and a government has to feel that it is safe to open its borders to visitors — and migrants. On April 2, the Centers for Disease Control and Prevention (CDC) announced that people who are fully vaccinated with a Food and Drug Administration (FDA)-authorized vaccine can travel safely within the United States. An individual is considered “fully vaccinated two weeks after having received the last required dose of the Covid-19 vaccine.” UK’s Global Travel Taskforce sets out a new traffic light system and green watchlist to safely reopen international travel. The traffic light system categorizes countries “based on risk alongside the restrictions required for travel and the vaccine roll-out from ... » Learn More about Migration laws allow, but Covid forbids

The Bank of Thailand has issued a sombre warning that the ongoing ban on foreign tourists returning to Thailand may have an even worse impact next year. Don Nakornthab, from the BOT’s economic and policy department, says if international tourists are not allowed back into the country soon, Thailand’s tourism industry will face even bigger threats next year. A report in the Bangkok Post says both the Tourism and Sports Ministry and the National Economic and Social Development Council have already reduced their forecasts of foreign tourists this year to 6.7 million (the vast majority of that number arriving in Q1, 2020) and 12 million for 2021. To put that in context, in 2019, Thailand welcomed nearly 40 million international tourists, with the resulting revenue accounting for nearly 20% of the total Thai GDP. The month of July was the fourth consecutive month in which Thailand received no foreign tourists. The borders remain largely sealed, while discussions about how to open ... » Learn More about Bank of Thailand issues stark warning over ongoing ban on foreign tourists

Asia United Bank (AUB), one of the country’s fastest-growing universal banks, sees competition in the electronic wallet (e-wallet) space to intensify further this year. The Covid-19 global pandemic has led to restrictions on mobility with the enforcement of enhanced community quarantine (ECQ) measures. This has driven more Filipinos to embrace digital tools such as e-wallets. Even without the ECQ, however, AUB President Manuel Gomez said e-wallets and mobile transactions will continue to proliferate as many consumers, who made the digital pivot, are already discovering and growing accustomed to cashless and contactless modes. This, in fact, has led to shifts in consumer attitudes, behaviors and consumption patterns. In November 2019, two months before the Covid-19 outbreak, AUB unveiled its own digital wallet, HelloMoney, which enables account holders to perform various financial transactions such as fund transfer to any bank account via InstaPay, bills payment, prepaid mobile ... » Learn More about AUB sees fever-pitch competition in e-wallets