Latest Stories

Businessmen brace for impact of ‘Maring’ on economy



MANILA, Philippines—The Philippine Chamber of Commerce and Industry (PCCI) is hopeful that the impact of storm Maring on local firms will not be as damaging, even if Metro Manila, shut down for business over the past two days.

“Definitely, there is a lot of damage. Apart from agriculture, there were no trading activities over the past two days. The logistics industry has been largely affected too because of the floods and because people can’t go to work,” PCCI president Miguel B. Varela said in a phone interview.

According to Varela, the biggest hit by the storm among industries was the manufacturing sector in Luzon as the heavy rains brought by Maring flooded areas where a lot of factories and facilities are located, including Cavite, Laguna, Pampanga and Zambales, among others.

The Calabarzon area was reportedly the hardest hit region by the torrential rains, affecting some 600,000 people in the area, a Philippine Daily Inquirer report stated. Also badly affected were the southern parts of Metro Manila.

“I hope that the impact will not be that big considering that flood waters receded quickly and the typhoon did not really hit much of the agricultural areas. What was more affected were the manufacturing plants, in terms mostly of halted or low production. Recovery will be faster then,” Varela explained.

Varela said he would have estimates on the probable impact of Maring and business closures by Friday at the latest.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , cyclones , economy , Finance , financial markets , floods , logistics , manufacturing , Maring , Philippine Chamber of Commerce and Industry , rains , relief and rehabilitation , rescue , Stock Market , storm , Trami , Weather

  • dotCommer64

    Ayos lang yan basta tuloy tuloy ang “soft projects” nila congressman, me budget tayo doon. Pero dito sa flooding at hard projects o yung mga nakakaapekto sa national level sorry wala daw tayong budget dyan, tutal baha lang naman daw yan sabi nila economy experts tongressman.

    • dotCommer64

      Ang solusyon dyan ayon ke Tongressman bigyan nalang daw tayo ng isang kilong bigas at noodles, ayun ang solution nila. Darating panahon wala nang middle class sa pilipinas dahil lahat naghirap na, dalawa nalang ang klase ng tao sa pinas, ang mahihirap at mga pulitiko. Salamat mga Congressman.. wag nyo kalimutan isulat pangalan nyo don sa plastic ng relief goods ha? Nakakahiya naman sa inyo kung wala yung pangalan doon.

  • http://inquirer.net unokritiko

    what kind of economist is this! He holds the chairmanship and yet his message is enormously means to increase the prices.
    It would be much better for this bad mouth economist to shut up otherwise show some proof that the prices of some commodities will go up.
    His message is not just a forecast but a trending to increase the price of commodities.
    thats how a corrupt practices is made by this people.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Camilla’s brother dies of NYC head injury
  • Nepal officials go to Everest to try to end crisis
  • Escudero ready to defend self should name appear in Napoles’ list
  • Obama calls for peaceful end to island dispute
  • Russia not abiding by agreement on Ukraine—Obama
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Marketplace