Philippines Morning News For April 2

Philippines Morning News For April 2

Philippines morning newsIMF extends PH’s $1-B loan commitment to 2019
The Philippines’ $1-billion loan commitment to the International Monetary Fund (IMF) will expire on December 31, 2019 while other arrangements are reviewed quarterly.
— Manila Bulletin

US: Corruption in Philippines remains among barriers to trade
Corruption continues to be a major headache for the United States when it comes to doing trade with the Philippines, a new report by the Office of the US Trade Representative (USTR) shows.
— Philippine Star

34,724 Cebu households get P2.4T subsidy
A TOTAL of 34,724 poor households in Cebu have received the unconditional cash transfer of P2,400 for the year intended to mitigate the impact of the increase in the prices of oil and basic commodities brought by the passage of the Tax Reform for Acceleration and Inclusion (Train) law.
— Sun Star

EDC sets P4.29-B spending for 2018
LOPEZ-LED Energy Development Corp. (EDC) has programmed P4.29 billion in capital expenditures (capex) for this year, with most of the funds to be used for improving the geothermal facilities of its subsidiaries.
— The Manila Times

Boracay tourist arrivals up despite closure plan
Tourist arrivals in Boracay climbed in March compared to the same month last year, even as the government mulled shutting down the holiday island to address its pollution problem, authorities confirmed Sunday.
— ABS-CBN (video)

GT Capital spending over P100 billion in 2018
GT Capital Holdings Incorporated is spending as much as P111.9 billion this year, mainly to fund its banking unit’s improvement of capital ratio and expansion of electronic banking channels.
— Rappler

German conglomerate offers proposal to build PH war ships
German industrial engineering company thyssenkrupp AG submitted a proposal to the Philippine government to build defense ships in the country.
— Manila Standard

Smooth sailing seen for Asia’s cruise tourism industry
After years of seat sales and ticket discounts, cruise lines are betting that more and more travelers are ready to see the world by ship.
— The Philippine Star

WTO review cites PHL performance on trade, fisheries, MSMEs
THE World Trade Organization (WTO) fifth policy review of the Philippines concluded with members noting the strides the country has made in growing its economy, specifically its role in strengthening the global trading system and its “active” role in advancing negotiations for fisheries subsidies.
— BusinessWorld Online

P400-million Calapan water project faces government delay
The Calapan City government is halting the full implementation of the P400-million water improvement project by the lone water service provider here as it expressed strong opposition to the renewal of the water firm’s expired Certificate of Public Convenience.
— Manila Standard

Medical facilities for tourists lacking
House Speaker Pantaleon Alvarez said he, Surigao del Norte Gov. Sol Matugas and Surigao del Norte (First District) Rep. Francisco Jose Matugas 2nd are “already taking steps to address…the lack of first aid and medical facilities” in the case of Siargao.
— Manila Times Online

N. Mindanao accounts for most traded commodities in PH
The five provinces in Northern Mindanao accounted for 22 percent of the total quantity of all traded commodities in the country in the fourth quarter of 2017, which was the highest among all regions nationwide, a preliminary report of the Philippine Statistics Authority (PSA) said.
— Manila Bulletin

Painful homecoming in battle-torn Marawi
After fleeing for their lives nearly a year ago, some residents of the battle-scarred Philippine city of Marawi were allowed back Sunday for the first time — to dig through the rubble that was once their homes.
— ABS-CBN

Garbage collector returns P.4 million cash
A garbage collector returned the P427,798 in cash he found in a pile of trash that he and his companions collected here on Saturday.
— Philippine Star

Ortigas & Co allots P9 billion for capital expenditures
Ortigas & Co. has allocated P9 billion in capital expenditures this year as it continues to pump up its projects.
— Philippine Star

Soybean meal imports seen rising by 5.45% this year
Philippine soybean meal (SBM) imports this year would go up by 5.45 percent to a record-high of 2.9 million metric tons (MMT) due to the continuous expansion of the livestock and poultry sectors, according to a Global Agricultural Information Network (Gain) report.
— Business Mirror

US to PHL: Reduce barriers to farm trade
Washington called on President Duterte to liberalize agricultural trade between the Philippines and the United States by reducing the barriers to imported farm products.
— Business Mirror

COA asks state rubber firm execs to return P4.7-M pork
The Commission on Audit (COA) has ordered officials of the defunct Zamboanga del Norte Agricultural College Rubber Estate Corp. (ZREC) to return the P4.71-million financial assistance sourced from the Priority Development Assistance Fund or pork barrel of former Sen. Jinggoy Estrada.
— Philippine Daily Inquirer

‘Green farming’ a key challenge for PH, WB says
A NEW World Bank (WB) study emphasizes the benefits for agricultural countries like the Philippines of addressing agricultural pollution, noting how reforms and incentives can support the industry’s competitiveness, development, and sustainability.
— Sun Star

Twitter turns 12, cites PH as one of fastest growing markets globally
Social networking platform Twitter marked its 12th year on Wednesday, and cited the Philippines as one of its fastest-growing audience markets in the world.
— Northbound Philippines

March inflation likely higher than 4% – poll
Inflation likely rose further in March to beyond the government’s target band, raising the possibility of a hike in key interest rates later this year, analysts polled by The Manila Times said.
— The Manila Times

QC allocates 1% of budget for disabled
THE Quezon City government has allocated 1 percent of its collected taxes for the welfare of all persons with disabilities in the city.
— Manila Standard

Holy Week busts yield P8.5M shabu
FOR Cebu City Police Office (CCPO), the observance of the Holy Week does not only mean securing the pilgrims and tourists. It also means preventing drug players from plying their wares.
— Sun Star

Market recovery seen as new quarter starts
The stock market could begin to post a recovery with the first quarter over and the end of a Lenten break, analysts said.
— The Manila Times

123,648 arrested, 4,075 slain in ops
The government has kept the momentum of its war on illegal drugs, posting an increase in the numbers of drug personalities arrested, illegal drugs seized, and drug dens dismantled in recent months.
— Manila Bulletin

 

Feature photo Andrew and Annemarie

 

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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