Philippines Morning News For April 19

Philippines Morning News For April 19

Philippines morning newsDuterte spooks foreign investors with tax ‘sword of Damocles’
Philippine President Rodrigo Duterte’s administration received an impassioned plea from within its ranks on the night of April 11.
— Nikkei Asian Review (metered paywall)

Philippine Business Bank raising P5 B for capital expenditure
Philippine Business Bank (PBB) hopes to raise P5 billion as it continues to explore capital raising avenues to strengthen the bank’s balance sheet.
— Philippine Star

Trump’s SC pick votes in favor of Filipino fighting deportation
Conservative Justice Neil Gorsuch cast a surprise vote in a decision released Tuesday favoring a Filipino immigrant fighting deportation, siding with the US Supreme Court’s left-leaning wing.
— Manila Bulletin

Cooler ride for LRT 2 commuters with P350-million air-con replacement deal
The government has tapped MRail Inc. and partner Multiscan Corp. for the P350-million replacement of the air-conditioning units of 10 train sets of the Light Rail Transit (LRT) Line 2.
— Business Mirror

Business pushes work plan on trade barriers
ABAC (APEC Business Advisory Council) Philippines welcomes the successful completion of the Philippines’ Trade Policy Review (TPR) of the World Trade Organization (WTO) held last March 26 to 28 in Geneva, Switzerland.
— Malaya

41% undecided, 35% not open to hiring K-to-12 grads — poll
K-TO-12 GRADUATES are expected to be on the losing end of the employment market, according to a job website which citing employers as saying they will likely not hire the batch this year.
— BusinessWorld Online

Logistics firm’s profit falls 23% to P703M
LBC Express Holdings, Inc. posted profits of P703.88 million last year, down 23.62 percent from P921.6 million the previous year.
— Malaya

How China is winning in South China Sea
Earlier this month, the USS Carl Vinson became the first American aircraft carrier to visit Vietnam since the Vietnam War ended in 1975.
— The Hans India

LBC incurred flat income to P1.37 billion before tax in 2017
COURIER LBC Express Holdings Inc. (LBC) said its income before tax last year was flat at P1.37 billion, compared to the P1.33 billion it made in 2016.
— Business Mirror

DBM caps planned 2019 cash budget at P3.47T
The Department of Budget and Management has capped at P3.469 trillion the proposed 2019 national budget, the first-ever to be cash-based.
— Philippine Daily Inquirer

Crypto Fraudsters Face Jail Time, Warns Philippines Securities Regulator
The Philippines Securities and Exchange Commission (SEC) has officially warned against 14 cryptocurrency investment schemes seeking to attract consumers in the country.
— CoinDesk

Senate to probe missing P59.8-M SAF allowance
The Senate committee on public order and dangerous drugs is set to conduct an investigation into the alleged withholding of some P59.8 million in daily subsistence allowance and hazardous pay for members of the Special Action Force (SAF).
— Philippine Star

Senator pushes for SIM card registration, mobile number portability
Mobile phone subscribers will be able to retain their phone numbers even if they switch telcos if a bill pending before Congress gets approved.
— ABS-CBN

Solons urge protest over PH reef incident
An opposition lawmaker warned on Wednesday that it was only a matter of time before China deployed warplanes on its artificial islands in Philippine waters, after the Inquirer published surveillance photos showing Chinese military transport planes on Panganiban Reef.
— Inquirer.net

Lawyers ask UN to probe attacks on PH judiciary
Groups led by the Integrated Bar of the Philippines (IBP) have asked the United Nations special rapporteur on the independence of judges and lawyers to look into the Duterte administration’s actions that undermine the judiciary and threaten the lives of lawyers.
— Philippine Daily Inquirer

Energy storage in Southeast Asia
Rio Tuba, located in the Municipality of Bataraza on the island of Palawan in the Philippines is a predominantly mountainous region with roads riddled with potholes making it almost inaccessible especially during bad weather conditions.
— The Asean Post

Rodrigo Duterte says he ordered investigation into Australian nun Patricia Fox
Philippine President Rodrigo Duterte says he personally ordered an investigation into a 71-year-old Australian nun with a view to deporting her for “disorderly conduct” and being an “undesirable alien”.
— ABC News

ALI’s P10-B bond sale oversubscribed
Ayala Land, Inc. (ALI) reported that its ongoing P10-billion fixed-rate bond offering, which is part of its P50 billion debt securities program, is already 1.5 times oversubscribed.
— Manila Bulletin

Better outlook for fruit industry in Philippines
The fruit industry of the Philippines is expected to benefit from at least two projects for bananas and mangoes, which are funded by the Australian Centre for International Agricultural Research (ACIAR) and the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology (DOST-PCAARRD).
— Fresh Plaza

LTFRB accredits ride-hailing companies Hype and Hirna
The Land Transportation Franchising and Regulatory Board (LTFRB) approved on Wednesday, April 18, the accreditation of two ride-hailing companies.
— Rappler

The Philippines agrees to address illegal fishing amid UN and scientists’ pressure
The Philippine government has acceded to the Food and Agriculture Organization (FAO) of the United Nations’ (UN) agreements to combat illegal fishing and encourage environmental protection.
— Food Navigator Asia

PNP wants extension of deadline in submitting drug war records to Supreme Court
The Philippine National Police needs more time to gather documents on the controversial war on drugs for submission to the Supreme Court, outgoing Police Chief Ronald “Bato” Dela Rosa said on Wednesday.
— CNN Philippines

‘Anti-employer’ proposals slammed
The Employers Confederation of the Philippines (ECOP) branded as anti-employer moves by certain sectors to totally ban contract employment and impose absolute security of tenure, saying these will “shutter” businesses.
— Malaya

Remittances forecast to grow 4.5% this year; peso weakness to persist
Remittances are expected to increase higher than what the central bank has estimated for 2018 but not enough to support a recovery for the local currency, according to a ING Bank.
— Manila Bulletin

Sales of sugar-sweetened drinks slump in Feb. amid higher taxes
ALREADY REELING from a shift in consumer preference to healthier options, sales of sugar-sweetened beverages weakened in February following the implementation of higher excise taxes, according to performance management company Nielsen.
— BusinessWorld Online

Starbucks to open 5th store in Davao City
Coffee chain Starbucks is planning to open its fifth store in the city within the year.
— BusinessWorld Online

Aquino ‘not criminally liable’ for Dengvaxia mess : Gatchalian
Senator Sherwin Gatchalian said Wednesday he signed the draft Senate committee report on the Dengvaxia mess with reservations because he is not convinced that former president Benigno Aquino III is criminally liable for the botched PHP3.5-billion dengue vaccination program.
— Philippine News Agency

Grab justifies extra surge in fare
HIGHER booking demand with the closure of Uber’s Southeast Asian operation has caused a surge in fares, ride-hailing firm Grab said.
— Manila Standard

DBS: Inflation likely to peak at 5-6% in Q2
Inflation in the Philippines could hit 5.0-6.0 percent in the second quarter of the year and monetary authorities will likely move to address rising prices by hiking key interest rates next month, Singapore-based bank DBS said.
— The Manila Times

DFA repatriates 175 more Filipinos under Kuwait amnesty on April 18
The Department of Foreign Affairs (DFA) is repatriating 175 more Filipinos Wednesday (April 18) under the amnesty program extended by the Kuwaiti government to the Philippines.
— Philippine News Agency

PH main equities gauge recovers, Peso holds ground
Bargain hunting lifted most of the country’s equities indices Wednesday and the Philippine Peso continued to remain sound against the Greenback despite gloomy external developments.
— Philippine News Agency

State of calamity for Boracay expected this week
A state of calamity may be declared in Boracay within this week.
— Northbound Philippines

 

Feature photo Brian Evans

 

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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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