Philippines Morning News For April 10

Philippines Morning News For April 10

Philippines morning newsDuterte earmarks P2-billion for Boracay under state of calamity, junks casino
PRESIDENT Rodrigo Duterte said he would place Boracay Island under a state of calamity to release P2 billion in calamity funds for workers and residents hurt by the six-month closure, adding he would not also allow any casino to be built in the world-famous beach resort despite the approval from the Philippine Amusement and Gaming Corp.
— Manila Standard

Measles incidence–up 3,600%–could turn epidemic without vaccinations
Because of the Dengvaxia controversy, which has caused an exaggerated fear of the potential adverse effects of vaccinations, the government’s preventive health programs have taken a big hit.
— Philippine Daily Inquirer

Landbank gives FastCat P1.726-billion loan to build 5 ships by next year
AS part of its capital-raising initiative to bankroll its plan to operate 30 vessels by 2020, Archipelago Philippine Ferries Corp. (APFC) has sealed another loan deal worth P1.726 billion with the Land Bank of the Philippines (LandBank) for the construction of five new ships set to be delivered by middle of next year.
— Business Mirror

NTA gives P210M aid to tobacco farmers
The National Tobacco Administration (NTA) has provided P210 million worth of assistance for the Ilocos region to help tobacco farmers reach this crop year’s targeted national production volume of 45 million kilograms of cured tobacco.
— The Manila Times

Philippines eyes exploration deal with China in claimed areas
The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday.
— Bangkok Post

Philippines’ Duterte orders reforestation, threatens open pit mining ban
Philippines President Rodrigo Duterte on Monday ordered mining companies to conduct tree planting projects and threatened to ban all open pit mining next year.
— Reuters

Sugar sustains 5-week hike to P1,440.46/LKg
The average mill-site price of domestic sugar as of March 4 sustained a five-week increment and rose to a crop-year high of P1,440.46 per 50-kilogram bag (LKg), latest data from the Sugar Regulatory Administration (SRA) showed.
— Business Mirror

World Bank recommends free trade zone in Basilan, Sulu, Tawi-Tawi area
The World Bank recommended the creation of a free trade zone in the Basilan, Sulu, and Tawi-Tawi (Basulta) area, which can pave the way for prosperity there.
— Rappler

APFC gets P1.7-B loan to improve fleet
Roll-on-roll-off (RoRo) vessel operator Archipelago Philippine Ferries Corp. (APFC) has signed a P1.726-billion loan from Landbank of the Philippines (Landbank) to finance its ship modernization and expansion program.
— The Manila Times

Duterte banks on China to rebuild war-torn Philippine city of Marawi
China will have a chance to showcase warmer ties with the Philippines if it wins a contract to rebuild a city ravaged by Islamic State in Iraq and Syria-inspired terrorists last year, a Cabinet member said.
— The Straits Times

Philippines sees surge in cryptocurrency exchange applications
The number of businesses applying to operate cryptocurrency exchanges in the Philippines has been growing as the sector gains popularity, a senior official of the Bangko Sentral ng Pilipinas (BSP) confirmed.
— CoinGeek (media release)

Duterte urges Congress to ‘fast-track’ impeachment of top judge
Philippine President Rodrigo Duterte has told members of parliament they must “fast-track” the impeachment of the country’s top judge after she hinted that he might be behind the moves to sack her.
— Aljazeera

Diarrhea kills 8, downs 200 in Sulu
Eight persons have died and more than 200 have been affected with diarrhea in three barangays in Pata, Sulu since two weeks ago.
— Philippine Star

Energo Boost Clean Energy Production through Qtum Blockchain implementation in Philippines
Qtum Foundation Pte Ltd announce today that Energo Foundation Pte Ltd has implemented Qtum blockchain platform in its latest cooperation with First Gen, the largest producer of clean energy in the Philippines, on the company’s blockchain microgrid project.
— AEC News Today/ PR Newswire (media release)

Philippines Department of Finance establishing online payment gateway for government transactions
The PHPay system is designed to be a secure and reliable collection system in which government clients can transfer payments online for government services, anytime and anywhere.
— Open Gov

Grab to keep Uber app open until April 15
In compliance with an order from the Philippine Competition Commission (PCC), transport network company (TNC) Grab will keep the Uber app running until April 15 although this will not only defeat the purpose of the order but also put the riding public at risk, according to its officials.
— Philippine Daily Inquirer

‘Philippines a better choice for FDI’
The Philippines is seen as a better choice for foreign direct investments over faster growing economies in Asia like China and Vietnam, an American diplomat said.
— Philippine Star

More than 600 on list of alleged ‘terrorists’
The United Nations Special Rapporteur for the Rights of Indigenous Peoples believes the government’s move to label her as a terrorist is an act of retaliation after she issued a warning on the effects of martial law in Mindanao.
— ABS-CBN (video)

60 securities deemed Shariah-compliant by Philippine Stock Exchange
THE COMPANIES adhering to the principles of Islamic finance remained intact in the first quarter of 2018, according to the results of a quarterly review published by the bourse.
— BusinessWorld Online

Pump prices on meager rollback this week
Prices at the domestic pumps will be on paltry rollback this week, with gasoline costs trimmed by P0.40 per liter; and diesel by P0.30 per liter.
— Manila Bulletin

World Bank study: PH progress depends on Mindanao development
In June 2017, the World Bank completed an all-inclusive study to effectively determine a strategy for regional development in Mindanao.
— Manila Bulletin

Peso to climb on weak US data
THE PESO is seen to strengthen against the dollar in the first few days of the week due to lukewarm US labor data and escalating trade tensions between the US and China.
— BusinessWorld Online

Sin products to fuel inflation
The Department of Finance (DOF) said the price adjustments in sin products, specifically tobacco, will continue to fuel inflationary momentum in the near term.
— Malaya

Eastern Communications sets P900 M for network upgrade
Eastern Communications announced that it is spending P900 million as part of its network modernization program this 2018.
— Manila Bulletin

San Juan to provide housing to public-sector employees
AFTER providing housing to more than 300 informal-settler families, the city government of San Juan will provide affordable housing to the teachers, policemen and those working in city hall through the Pag-IBIG-funded project F. Manalo Housing in Barangay Batis.
— Business Mirror

SBMA approves P750-M lease, revenue shares for power firm
THE Subic Bay Metropolitan Authority (SBMA) recently approved a total of P750 million in lease and revenue shares for One Subic Power Generation Corporation, which operates the 116-megawatt diesel generator plant here for a lease extension agreement of 10 years.
— Sun Star

Jan borrowings jump 22% on domestic loans
The government’s gross borrowings in January jumped by 21.81 percent due to the increase in domestic loans during the period, versus its year ago level.
— Malaya

BSP introducing 3D reform agenda
The Bangko Sentral ng Pilipinas (BSP) has adopted a three-pronged reform to ensure that domestic banks are ready for technological innovations to fully cater to their clients. BSP Deputy Governor Chuchi Fonacier said the domestic banking sector is “currently in a position of strength.”
— Philippine News Agency

PHL, China to sign deal on English teachers
PHILIPPINE President Rodrigo R. Duterte is expected to sign an agreement with China, allowing around 100,000 Filipino teachers in English teaching opportunities there.
— BusinessWorld Online

Inflation expected to peak at over 5%
Rising electricity and transport prices could cause inflation to top 5 percent in July before moderating, Standard Chartered Bank said.
— Philippine Magazine

Duterte wants charter change to ‘avoid accountability’ for EJKs – analyst
President Rodrigo Duterte may not be pushing for an entirely new constitution to shift to a federal system of government, but to allow him to stay in power beyond 2022 and thereby “avoid accountability” for the human rights violations committed during his term.
— Rappler

House technical panel crafts bill to modernize ‘Build, Build, Build’
The House Public Works Committee’s technical working group (TWG) has recently finalized the substitute bill for the proposed Public Private Partnership (PPP) Rationalization Act, designed to support President Rodrigo R. Duterte’s “Build, Build, Build” program.
— Philippine News Agency

 

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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