Philippines Morning News For May 4

Philippines Morning News For May 4

Philippines morning news

Up to $770-M water, sanitation projects in 2017-2019 pipeline for ADB approval
Up to $770 million worth of Philippine water- and sanitation-related projects for implementation in 2017-2019 are up for Asian Development Bank (ADB) approval, according to a table the regional lender distributed to visiting journalists here by e-mail.
— BusinessWorld Online

Cebu Pacific passenger traffic slipped in Q1
The operator of budget airline Cebu Pacific Air saw passenger growth contract in the first quarter of 2017, partly on increased competition with domestic rivals.
– Philippine Daily Inquirer

EU trade perk boosts RP exports to 1.7bn euros
THE PHILIPPINES has exported 1.7 billion euros worth of goods to the European Union (EU) last year under a trade perk that allowed zero tariff for various local products, a nearly 10-per cent increase from 2015 that raised the stakes for the trade benefit, which the country might lose due to the government’s anticrime efforts. The Generalised System of Preferences Plus (GSP +) status, a condition.
— The Nation

Stop firing at Filipino fishers, DFA tells China
THE Department of Foreign Affairs (DFA) on Wednesday asked China “to refrain from the threat or use of force,” including firing warning shots, in driving away Filipino fishermen from the West Philippine Sea (South China Sea).
– The Manila Times

Dennis Uy bags license to put up $300M gaming hub in Cebu
Davao-based businessman Dennis Uy has obtained a provincial license from the state-controlled Philippine Amusement and Gaming Corp. (PAGCOR) to develop a $300-million integrated gaming resort in Cebu.

GMR in race for $800-m airport project in Philippines
The GMR-Megawide consortium which is currently operating the Mactan Cebu international airport in the Philippines, is in race for the Davao airport in the Far Eastern nation.

Philippines: Regina Lopez, mine-closing environment minister, sacked
Lawmakers in the Philippines have removed the environmental secretary, who angered the mining industry by ordering the closure of more than half the country’s existing mines.
— BBC News

Senate to probe Aquino admin’s MRT-3 contract
SENATOR Grace Poe on Wednesday filed a resolution calling for a Senate investigation into the reportedly anomalous Metro Rail Transit Line 3 (MRT-3) maintenance contract between the previous Aquino administration and Korean firm Busan Universal Rail Inc.
– The Manila Times

Mining funds, politics played hand in Gina Lopez rejection—Reds
The Communist Party of the Philippines said it lost a friend in its struggle to defend the environment with the Commission on Appointments’ rejection of the appointment of Gina Lopez as Environment secretary.

The Truth About Duterte’s ASEAN South China Sea Blow
To say that Philippine President Rodrigo Duterte’s chairman’s statement issued on April 29 following the 30th ASEAN Summit in Manila was a little soft on China “would be an understatement,” a Philippine diplomat told me hours after its release.
— The Diplomat

Suspects charged with Filipino newsman’s killing
A governor, his aide, and a police officer were charged with murder in the Philippines on May 2, on the eve of International Press Freedom Day, for the killing of a journalist in December.
— UCA News

Philippines: SM Prime sets interest rates for $300m retail bonds
SM Prime Holdings Inc marked its fourth listing of retail bonds with its issuance of up to $300 million (P15 billion) fixed rate bonds due in 2024.
— Deal Street Asia

ADB sees continued strong growth for Philippines
While political risks are “worrisome,” the Asian Development Bank (ADB) sees continued strong economic growth for the Philippines.
— The Philippine Star

UN says Philippines’ deal with rebels helped protect children
The government and rebels in the country’s south have made “significant progress” in preventing the recruitment of children in armed conflicts although children’s deaths and injuries remain a concern, a United Nations report said.
— The Philippine Star

House panel approves tax on diesel, lower income tax
The House of Representatives committee on ways and means approved yesterday a consolidated bill imposing a P6 diesel tax and increasing levies on other oil products and on cars.
— The Philippine Star

PDEA: Philippines has 4.7 M drug users
The Philippine Drug Enforcement Agency (PDEA) now estimates that there are 4.7 million drug personalities in the country, the highest figure cited by the administration since launching the drug war last July.
— The Philippine Star

Business, gov’t leaders discuss infrastructure for inclusive growth in ADB annual meeting
After the ASEAN Summit in the Philippines, the discussion on sustainable and inclusive growth for the region continues, as 5,000 participants from all over the word gather here, for the 50th Asian Development Bank (ADB) Annual Meeting.
— Rappler

P300-K worth of shabu seized in CDO drug bust
Authorities seized P300,000 worth of shabu from a drug suspect in a buy-bust operation in this city Wednesday night.

Risks flagged with delay of tax reform package
A GLOBAL BANK has raised concern about the delayed passage of the Finance department’s tax reform program, saying that holding the much-needed tax reforms hostage in Congress would negate the government’s ambitious infrastructure spending plans for the next six years.
— BusinessWorld Online

Transport sector to average 9.5% growth until 2022 — BMI
BMI RESEARCH, an arm of Fitch Ratings, said the government’s aggressive spending program will help the transport sector grow by an average of 9.5% annually over the medium term, though risks to growth include delays in certain projects funded via public-private partnerships.
— BusinessWorld Online

Lower House passes public Wi-Fi, 44 other bills
The House of Representatives approved on third and final reading 45 bills as the chamber’s leadership moved to act on at least 10 more bills of national application that have been included in the list of legislative priorities this month.
— Manila Bulletin

PHL shows populism still a boon for equity markets
If the last two decades of anti-establishment rule are any guide, the world may be on the brink of some monster stock rallies as it takes a turn toward populism.
— Business Mirror



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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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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