It was a bad day for the country on Thursday after it was confirmed that the country's economy has hit rock bottom. Here are the stories making the headlines on ANC today:
The country's gross domestic product (GDP) had its largest drop since the Philippines became a democracy, plunging the country into its first recession in 30 years. The economy also recorded the worst contraction in Philippine history and as compared to ASEAN economies. And all that in one day. But trust Central Bank Gov. Ben Diokno to have a positive spin and see the glass half full. He said the worst is behind us and there's no way to go but up.
No. 1 in Southeast Asia
Aug. 6 proved to be a really bad day for the country as it passed Indonesia with the most number of COVID-19 cases in Southeast Asia. The number of confirmed COVID-19 cases in the country is closing in on 120,000. Meanwhile, the Japanese government provided the country with Avigan tablets as part of the clinical trials for a possible treatment to COVID-19.
Shredded and minced
It was another bad day for officials of the Philippine Health Insurance Corp. (PhilHealth). After being shredded to pieces in the Senate for allegations of corruption, the officials were minced in another probe, this time in the lower House. Congressmen asked the officials to submit their statements of assets, liabilities and net worth (SALNs). PhilHealth Senior Vice President for Operations Augustus de Villa submitted his resignation. The Presidential Anti Corruption Commission (PACC) said 10 PhilHealth officers will face criminal complaints while 11 more are being probed.
There are heartbreaking stories coming out of the Filipino fatalities in the Beirut blast. Authorities said they are probing the incident, and the world waits for the results.
Conservation architect Gerard Lico shared photos of the Philam Life Building in Manila before it is to be redeveloped by SMDC. It's a last glimpse at an elegant performance that was famous for its design and acoustics.