Philippines Morning News For May 25

Philippines Morning News For May 25

Philippines morning news

Market shrugs off Mindanao martial law
Investors shrugged off President Duterte’s declaration of martial law as the stock market advanced to its fourth day winning streak yesterday.
– The Philippine Star

Business group expresses concern over martial law declaration in Mindanao
The Philippine Chamber of Commerce and Industry (PCCI) on Wednesday expressed concern over President Rodrigo Duterte’s declaration of martial law in Mindanao.
– ABS-CBN

Nationwide martial law eyed
With the likelihood of violence in Marawi City spilling over into the Visayas and Luzon, President Duterte said yesterday he might expand the coverage of his martial law declaration for Mindanao to include the entire country.
– The Philippine Star

Private sector backs martial law in Mindanao
Business sector leaders and analysts remained supportive of actions taken by President Duterte, who declared martial rule on the island of Mindanao in response to a Muslim extremist attack in Marawi City, Lanao del Sur.
– Philippine Daily Inquirer

DTI head to sign trade deals with Russia
Trade and Industry Secretary Ramon M. Lopez said he was staying behind in Russia to sign bilateral agreements with the foreign government in a bid “to deliver the message that business will continue” in spite of the terrorist attacks on a city in Mindanao.
– Philippine Daily Inquirer

Did China threaten war against the Philippines?
Filipino President Rodrigo Duterte claims Chinese leader Xi Jinping made the threat during recent private discussions in Beijing on the South China Sea
– Asia Times

SWS: Net satisfaction rating of Duterte admin performance rises in March
Net satisfaction rating of the Duterte administration’s performance rose in the latest Social Weather Stations survey.
– Eagle News

PH key fiscal indicators improve in 1st quarter
The country’s key fiscal indicators improved in the first three months of the year as the rise in state tax collections continued to outpace growth, while the national government’s budget gap and outstanding debt remained very well managed.
– Manila Bulletin

PH, Chinese firms ink business deals
Six agreements between Chinese and Filipino firms were signed this week, following a business
– Philippine Daily Inquirer

NAIA, MPD terror alert up
Amid a series of attacks by the Islamic State-inspired Maute terror group in Marawi City that prompted President Duterte to declare martial law in Mindanao, authorities yesterday placed the Ninoy Aquino International Airport (NAIA) and the city of Manila on full alert.
– The Philippine Star

Hybrid PPP scheme worries businessmen
Filipino businessmen are quietly raising concerns over the government’s proposed hybrid approach for public-private partnership (PPP) infrastructure projects which President Duterte is expected to present during his official visit here.
– The Philippine Star

Philippines to gain from US trade sanctions on other countries
Potential US trade sanctions on major Asian economies are seen to significantly benefit the trade and investment relationship of the Philippines with the world’s largest economy, a trade official said.
– The Philippine Star

Policy upheavals buffet mining in Philippines, Indonesia
In the eyes of Diosdado Alota, chief of Guinabon village in the northwest Philippines, the mining industry is key to his community’s health.
– Nikkei Asian Review

More joint venture deals with China are finalized
More agreements on various joint ventures were signed between Filipinos and Chinese business groups in the latest economic campaign offensive by China for its new ally, the Philippines.
– Manila Bulletin

Excise tax on sugar-sweetened drinks to hike prices up to 140%
Carbonated drinks, energy drinks, sweetened tea and coffee, fruit drinks and other similar products are expected to see minimal to substantial price increases should the proposed excise tax adjustments on sugar-sweetened beverages be pushed by the Congress, data from the Department of Finance (DOF) showed.
– The Philippine Star

DA seeks immediate tariff scheme for rice
The Department of Agriculture (DA) is calling for the immediate implementation of a tariff scheme for rice as the quantitative import restriction (QR) regime will end by end-June, contrary to reports that it has been extended for three more years.
– The Philippine Star

Insular Life reports 179% income growth to P4.9 B in 2016
Insular Life Assurance Co. said that its consolidated net income nearly tripled last year due to higher gains from sale of shares of stocks and properties, investment income as well as earnings of its associates.
– Manila Bulletin

Term deposit yields decline
Term deposits fetched lower yields yesterday as trust entities continued to stay away from the term deposit facility (TDF) as mandated by the Bangko Sentral ng Pilipinas (BSP).
– The Philippine Star

No Philippines-Russia security alliance, but closer economic ties
The Philippines may be acquiring weapons from Russia, but the two countries will not forge a strategic security alliance and will only focus on boosting economic ties, an envoy said yesterday.
– The Philippine Star

Singapore state fund takes direct stake in BPI
GIC Private Ltd. of Singapore now has a direct stake in Ayala-led Bank of the Philippine Islands (BPI) more than three years after it acquired a stake in the country’s third largest lender.
– The Philippine Star

BDO ties up with Japan’s Seven Bank
Sy-led BDO Unibank Inc. has partnered with another Japanese bank to further cement its dominance in the international money transfer business.
– The Philippine Star

Philippine Red Cross opens vocational school in Leyte
THE Philippine Red Cross (PRC) has completed its vocational training center in Tacloban City to enhance employment opportunities in communities affected by Super Typhoon Yolanda nearly four years ago.
– SunStar

Mega drug rehab center to rise in Tarlac
The government has allocated P1 billion for the construction of another mega drug rehabilitation center.
– The Philippine Star

 

Feature photo Brian Evans
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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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