Philippines Morning News For April 23

Philippines Morning News For April 23

Philippines morning newsPH joins global call: Ban plastic pollution
The Philippines focused on the cleanup of Boracay on Sunday as it joined other countries in highlighting the global problem of plastic pollution on Earth Day.
— Philippine Daily Inquirer

Philippines Country Reports on Human Rights Practices for 2017
— US Department of State

PhilWeb sees 1Q18 revenue surge 236%
Philippines gaming services provider PhilWeb Corporation has announced a 236.7% surge in revenue to Php87.8 million for the three months to 31 March 2018.
— Inside Asian Gaming

Conglomerate invests $20M in overseas funds
Ayala Corp. has invested $20 million in a number of investment funds overseas as it looks for the next hot opportunity that would perk up its portfolio.
— Malaya

COA hits agency monitoring GOCCs over ‘excessive hiring’
The Commission on Audit (COA) found that the state agency monitoring government owned and controlled corporations (GOCCs) incurred unnecessary expenses related to excessive hiring.
— Rappler

China’s show of force pushes Philippines back to America
Earlier this month, China conducted its largest-ever military exercise in the South China Sea, raising new concerns about the future of freedom of navigation and overflight in the contested maritime region.
— Asia Times

P23-M allocated for repair of PAF trainer plane
The Philippine Air Force (PAF), through its Bids and Awards Committee, is allocating the sum of PHP23,216,000 for the acquisition of spare parts needed for the maintenance of the “crew escape system” of an FA-50PH “Fighting Eagle” light-lift fighter trainer.
— Philippine News Agency

Developer sets P23B capex
Developer’s Filinvest Land, Inc. (FLI) expects to spend P23 billion this year, up 4.5 percent from last year’s P22 billion, as itcontinues to expand its businesses.
— Malaya

‘Overheating’ risk exaggerated: NEDA
THE National Economic and Development Authority (NEDA) allayed concerns about imminent risks of overheating, saying that the country’s solid macroeconomic conditions and ongoing reforms make the economy ready for sustained and higher growth.
— Sun Star

CEO out to put Maybank in PH on Asean map
For many Filipino entrepreneurs and corporations, the Philippines is no longer big enough to contain their growth ambitions, thus have set their sights on expanding further afield, starting in neighboring countries in Southeast Asia.
— Philippine Daily Inquirer

New base for Chinese submersibles in Sth China Sea
China is to build facilities for its deep-sea exploration program in the South China Sea, which some observers believe may also serve a military purpose.
— Asia Times

Ghana taps PH firm for power distribution
The Millennium Development Authority (MiDA) of Ghana has tapped Manila Electric Co. (Meralco) for the management, operation and investment in the electricity distribution business of the Electricity Co. of Ghana (ECG).
— Malaya

Economist poll bares view of 4.1% inflation
BANK ECONOMISTS broadly expect inflation to settle above four percent this year as new taxes, a weaker peso and rising oil prices drive up the cost of basic goods and services, the central bank said.
— BusinessWorld Online

LGBT group warns of more sex workers after Boracay closure
The Iloilo Pride Team (IPT), an alliance of LGBT community in Iloilo warns of a possible increase of sex workers all over the country because of the imminent closure of this resort island.
— Business Mirror

City of Pines orders use of reusable containers
In line with the national government’s drive toward clean and green environment in the country, the implementation of the Plastic and Styrofoam-Free Baguio Ordinance has already been observed gradually by local residents of this city shortly before its May 2018 full implementation.
— Business Mirror

Aboitiz Equity sets P77-B capex for 2018; eyes ASEAN expansion
Conglomerate Aboitiz Equity Ventures Inc. (AEV) is more than doubling its capital expenditure (capex) budget to PHP77 billion this year, mainly to bankroll key power projects here as it looks at opportunities to build footprint in Southeast Asia.
— Philippine News Agency

Structures encroaching on highways to be demolished
THE Department of Public Works and Highways (DPWH) has urged those who are encroaching on the national highways to voluntarily remove their structures or these will demolished.
— Sun Star

DoLE to hire 5,000 Boracay informal workers, IPs for island rehab work
THE DEPARTMENT of Labor and Employment (DoLE) will hire 5,000 informal workers and indigenous people (IPs) members in Boracay as part of its 30-day emergency employment program amid the island’s closure starting April 26.
— BusinessWorld Online

AirAsia appeals to 5 agencies: Halt travel tax
AS IT expands its operations in the Philippines, linking cities like Cebu to other gateways, AirAsia Philippines reiterated its appeal to the government to scrap the travel tax for outbound passengers.
— Sun Star

Raid yields P80M fake cigarettes
Cigarette company Japan Tobacco International (JTI) Philippines lauded the government’s recent efforts against cigarette smuggling, after the Bureau of Internal Revenue (BIR) Strike Force spearheaded the raid of several warehouses last week.
— Malaya

PHL sugar output down 11.3%
Philippine raw-sugar output in the current crop year (CY) has reached 1.584 million metric tons (MMT) as of April 1, 11.3 percent lower than the 1.786 MMT recorded a year ago, the latest data from the Sugar Regulatory Administration (SRA) showed.
— Business Mirror

Gross borrowings down 8.6% as of end Feb
The government’s gross borrowings as of end-February fell by 8.65 percent, as it borrowed less from local lenders versus the same period last year.
— Malaya

Kuwait protests Philippine envoy’s rescue of abused OFWs
Kuwait has summoned Philippine Ambassador Renato Pedro Villa for his alleged “inflammatory comments” against the Arab state and for perceived misconduct in the rescue of distressed Filipino workers by Philippine diplomatic staff.
— Philippine Star

BDO bullish, eyes record income of P31-billion this year
BDO Unibank Inc., the country’s biggest lender controlled by tycoon Henry Sy, is aiming at a record P31-billion net income this year following a remarkable performance in 2017.
— Manila Standard

PH growth likely hit 6.8% in Q1– Moody’s Analytics
The Philippine economy is currently in a “sweet spot” with growth likely having accelerated in the first three months of the year, Moody’s Analytics said.
— The Manila Times

Export growth of up to 10% seen until 2022
Despite a slowdown in February, the Philippine Exporters Confederation (Philexport) expects the country’s exports to grow between 8 percent and 10 percent annually.
— The Manila Times

Rody sets 60-day window to restart talks with Reds
President Duterte said over the weekend that he had set a 60-day timeframe for peace talks he is seeking to revive with communist guerrillas, urging the rebels’ exiled leader to come home to hammer out a deal.
— Manila Bulletin

Nearly 80,000 jobs available in Labor Day fairs – DOLE
Nearly 80,000 jobs here and abroad will be available in Labor Day fairs nationwide this year.
— Rappler

2 Makati centenarians get P.1 M each
Two centenarians in Makati have received a cash gift of P100,000 each from the city government.
— Philippine Star

Peso likely to weaken
THE PESO could weaken against the dollar this week on bets of stronger economic growth in the United States as well as hawkish comments from foreign central banks.
— BusinessWorld Online

ANC Stock Market Wrap
The Philippine Stock Exchange climbed back above the 7700 level on Friday, reversing losses after plunging the most in over two years in the previous session.
— ABS-CBN (video)


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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