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Philippine Lockdown Gives $3.4 Billion Boost to PLDT, Globe

  • Pandemic accelerating use of mobile phones for transactions
  • Virus gives a push to fintech ambitions of Philippine carriers
A resident rides a bicycle at a slum community during a lockdown in Manila on May 4.
A resident rides a bicycle at a slum community during a lockdown in Manila on May 4.Photographer: Ezra Acayan/Getty Images
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While the coronavirus grinds the $331 billion Philippine economy to almost a halt, a boom in mobile digital payments is reviving investor interest in the nation’s two telecom carriers.