Philippines Morning News For April 13

Philippines Morning News For April 13

Philippines morning news

Philippines: Accion, DeepBlue upsize First Circle’s seed fund to $2.5m
Global venture capital firms Accion Venture Lab and DeepBlue VC have led an investment round into Philippine-based online lending startup First Circle, bringing the fintech company’s total seed funding to $2.5 million.
— Deal Street Asia

Philippine’s Duterte retracts vow on Spratlys flag
Philippine President Rodrigo Duterte on Wednesday (Apr 12) pulled back from a vow to place his country’s flag on an island in the Spratlys chain claimed by China and other regional states.
— Channel NewsAsia

Saudi business deals signed during state visit seen worth $470M
Seven business-to-business deals worth an estimated $470 million are to be signed by Filipino and Saudi businessmen during President Rodrigo R. Duterte’s three-day state visit here.
— BusinessWorld Online

DOLE allocates P10-M fund for completion of OFW IDs
he Department of Labor and Employment (DOLE) has allocated P10 million to fund and complete the development of its new overseas Filipino workers (OFW) ID this year.
— Manila Bulletin

Investors shift to RTBs from term deposits
Investors continued to ignore the auction of term deposits as funds shifted to retail treasury bonds (RTBs) offered by the government as well as the foreign exchange market.
— Phil Star

Rice shortage, price hike loom – FEF
The Foundation for Economic Freedom (FEF) is warning of “significant shortages” and “increased rice prices” in the country following President Duterte’s recent order to suspend rice importation.
— Phil Star

Benham expedition deferred due to LPA
The government has deferred its plan to embark on another exploratory trip to the 13-million-hectare Benham Rise this week due to an expected low-pressure area in the vicinity.
— Phil Star

Duterte’s anti-crime campaign to draw Saudi investors to PH – Palace
President Rodrigo Duterte’s campaign against criminality and corruption could further convince Saudi investors to establish businesses in the Philippines, Presidential Spokesperson Ernesto Abella said.

Philippines Shuts Down Boiler Room Scam
The Securities and Exchange Commission in the Philippines has closed down a boiler room operation being run by foreign nationals.

Fierce firefight as ASG rebels invade popular tourist destination in Bohol
Government security forces clashed with Abu Sayyaf Group (ASG) bandits in a town in Bohol on Tuesday, leaving 14 people dead, including four government troops, The Manila Times Online reported on Wednesday.
— Thai PBS

Tax amnesty plan faces hurdles – Credit Suisse
Investment bank Credit Suisse said an effective tax amnesty program would face hurdles in the Philippines due to the country’s strict banking secrecy law.
— Phil Star

Pinay in UAE death row won’t be executed, Bello claims
Labor Secretary Silvestre Bello on Wednesday said Jennifer Dalquez, the overseas Filipino worker (OFW) who is currently on death row in Abu Dhabi, will be spared from execution.

Finance chief cites ‘hostile environment’ for tax reform bill
TAX REFORM — which the government, multilateral lenders and credit raters regard as indispensable support for efforts to spur state spending — currently faces “a pretty hostile environment” due to populist pressures lawmakers could succumb to, the Finance department said in a statement on Wednesday.
— BusinessWorld Online

BIR lists down individual taxpayers required to file tax return
The Bureau of Internal Revenue (BIR) has listed down individual taxpayers who are required to file income tax returns (ITR) even as the deadline for its submission is on Monday (April 17).
— Manila Bulletin

Bulacan cops report 11 deaths in 3-week drug operations
A drug suspect was killed in a police operation early Wednesday (April 12) in Hagonoy town, one of the 11 suspects who fired at policemen and were killed in Bulacan’s anti-drug campaign for the last three weeks, police said.

Facebook takes down CPP page
Social media giant Facebook has suspended the accounts maintained by the Communist Party of the Philippines (CPP).
— Phil Star


Feature photo Danny O
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Philippines morning news by AEC News Today is your one stop source for Philippines news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.




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Stella-maris Ewudolu

Journalist at AEC News Today

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005.

Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.

She joined AEC News Today in December 2016.

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