When will lockdowns end? 66% of Pinoy CEOs dismayed by slow COVID-19 vaccination pace

Top Filipino business leaders are frustrated over the snail-paced rollout of COVID-19 vaccination in the country.

Based on a survey among 178 chief executive officers across industries, PwC Philippines found that 66% of these business leaders are “dissatisfied” with the pace of vaccine jabs, saying it would be the biggest hindrance that delays economic recovery.

Some 70% of CEOs said they lose at least 10% in daily sales each time there’s any type of lockdown. Although 74% said their businesses will experience growth in the next year, CEOs are not as optimistic when it comes to overall recovery. The same survey showed that 78% of executives think the Philippine economy will take more than two years to get back to where it was pre-pandemic.

Based on survey results, other pressing issues on the minds of CEOs include political uncertainty in the runup to the 2022 elections, the government’s reliance on lockdowns to curb COVID-19 infections, the threats of new COVID-19 variants, and the lack of financial support to hard-hit business sectors.

According to the poll, CEOs want the government to invest more in developing the local healthcare system, followed by infrastructure and education.

Armed client holds bank staff hostage to access savings

An armed customer threatening to set himself ablaze held bank workers hostage throughout the day Thursday in Lebanon’s capital, demanding to withdraw his trapped savings to pay hospital fees, security sources and a family member said.