Philippines Morning News For April 21

Philippine economy likely to grow close to 7 percent in next three years
he Philippines is likely to grow close to 7 percent in the next two to three years, and will remain a top performer in the East Asia and Pacific Region, according to the World Bank Philippines Economic Update released today.
– The World Bank

FNI’s net profit falls 97% to P37.5 million
Global Ferronickel Holdings, Inc. reported that its subsidiary Platinum Group Metals Corporation (PGMC) reported that net income plunged 97 percent to P37.5 million last year from P1.11 billion in 2015 amid sluggish nickel ore prices and poor weather conditions.
— Manila Bulletin

China shoos away Pinoys from Spratlys
A congressman on Thursday urged the government to file a strong diplomatic protest against China for firing warning shots to drive Filipino fishermen away from Union Bank, in the heavily disputed Spratly archipelago in the South China Sea.
— Inquirer.net

$459M of net hot money exited PH in March – BSP
FOREIGN portfolio investment in the net amount of $459.86 million left the Philippines in March this year, the central bank said on Thursday.
— The Manila Times

Philippines faces hurdles in following Indonesia’s tax amnesty
Weeks after Indonesia reported netting more than US$10 billion from a tax amnesty, the Philippine government said it’s mulling a similar move. Implementing it may not be that easy.
— The Business Times

Fiscal balance swings to deficit in February
The national government’s fiscal balance swung back to a deficit last February as revenue generation failed to offset spending during the period, data from the Bureau of the Treasury (BTr) showed.
— The Philippine Star

U.S. troubled by increasing extrajudicial killings in Philippines
The United States said on Thursday it was troubled by the growing number of extrajudicial killings in Philippine President Rodrigo Duterte’s war on drugs and called on Manila to stick to its commitment to investigate them.
— Reuters

ICTSI cleared to put up $30-M Cavite terminal
International Container Terminal Services Inc. (ICTSI) has secured government approval for its proposal to build a $30- million common-user barge and Roll-on/Roll-off terminal in Cavite.
— The Philippine Star

Philippines’ first Ro-Ro barge terminal for container vans opens
International Container Terminal Services Inc. said Friday its subsidiary opened the country’s first container roll-on roll-off barge terminal in Cavite province.
— ABS-CBN

Russian warship visits port of Manila
The commander of the Russian guided-missile cruiser warship described yesterday their four-day port call in Manila as a very important mission for the Russian Pacific Fleet.
— The Philippine Star

BDO earnings grow 6% in Q1
BDO Unibank Inc. reported a six percent rise in its net income for the first quarter, mainly driven by higher net interest income and customer loans.
— The Philippine Star

PH halts plan to raise flag in disputed islands
The government has postponed plans to raise the Philippine flag in some of the disputed islands in the South China sea, military officials said Friday.
— ABS-CBN

ASG leader ready to surrender
One of the hunters of Abu Sayyaf Group (ASG) leader Radullan Sahiron has confirmed the willingness of the bandit chief to surrender due to old age, fatigue, and incessant military pressure.
— Manila Bulletin

FGV to market seeds in Indonesia, Philippines
Felda Global Ventures Holdings Bhd (FGV) has appointed exclusive agents to market its oil palm seeds in Indonesia and the Phillipines.
— The Star Online

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Philippines Morning News For April 21 added by Stella-maris Ewudolu on April 21, 2017
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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.