Philippines Morning News For April 4

Philippines Morning News For April 4

Philippines morning newsNAIA Consortium seeks quick approval of P350 billion rehab plan
The NAIA Consortium has urged government to expedite the approval process for its P350-billion proposal to rehabilitate the main international gateway, saying an upgrade of the Ninoy Aquino International Airport (NAIA) would help drive the country’s economic growth and create more than a million jobs.
— Philippine Star

Duterte reneges on promise to end contractualization – Makabayan
Progressive lawmakers on Tuesday denounced the Duterte administration for claiming that it is powerless to eradicate contractualization in the country.
— Davao Today

Philippines becomes top ASEAN destination for Taiwan banks
The Philippines has become the top destination for Taiwanese banks planning to extend their reach in the Association of Southeast Asian Nations (ASEAN) market, according to a research paper released Tuesday by the Taiwan Academy of Banking and Finance (TABF).
— Focus Taiwan

Duterte’s China policy reaping economic benefits for PH – solon
A senior opposition congressman is confident that the best is yet to come in the country’s continued economic progress as a result of President Duterte’s bid for closer ties with China.
— Manila Bulletin

Gov’t raises P10B from three-year bonds
THE GOVERNMENT raised P10 billion worth of reissued three-year Treasury bonds (T-bonds) yesterday as yields saw a minimal rise despite persistent concerns on domestic inflation and uncertainties in the global market.
— BusinessWorld Online

MPIC unit eyes P22.5 billion Cavitex extension
Metro Pacific Investments Corp. (MPIC) unit Cavitex Infrastructure Corp. (CIC) is set to submit to the Toll Regulatory Board (TRB) a proposal for the Segment 5 toll road covering Kawit to Rosario in Cavite of the Manila-Cavite Toll Expressway (CAVITEX) within this quarter, after completing the feasibility study for the project.
— Philippine Star

DOST’s P128-million ‘smart farm’ to be established in Quezon City
AN agency of the Department of Science and Technology (DOST) will shell out P128 million to establish a farm in Quezon City, a very highly urbanized city.
— Business Mirror

DENR wants illegal land titles on Boracay cancelled
The government is still seeking the cancellation of land titles issued illegally by personnel of the Department of Environment and Natural Resource (DENR) on Boracay Island seven years ago.
— Philippine Daily Inquirer

Workers’ groups accept limited ban on contractualization
Workers no longer see the possibility of a total ban on all forms of job contractualization, but labor groups still expect President Duterte to issue a policy regulating short-term employment schemes.
— Philippine Star

Customs collection tops March target
The Bureau of Customs (BOC) collected P45.398 billion last month, slightly exceeding its target for the period due to the strong performance of most of the country’s ports.
— Philippine Star

Parties say four head revisors in VP ballot recount step down
The camp of former senator Ferdinand “Bongbong” Marcos Jr. and Vice President Leni Robredo announced that four heads of panels in the recount of votes in the 2016 vice presidential race resigned on Tuesday, April 3, a day after the Supreme Court (SC), acting as Presidential Electoral Tribunal (PET), started the repetition of tabulation.
— Philippine Canadian Inquirer

BSP’s 2017 income up 28% to P22.84B
The Bangko Sentral ng Pilipinas (BSP) saw double-digit growth in 2017 net income, on Tuesday reporting an unaudited result of P22.84 billion, 28 percent higher compared to the P17. 81 billion recorded the previous year.
— The Manila times

Vista Land nets P9.1B
Villar-led property developer Vista Land & Lifescapes (VLL) reported a banner year in 2017, growing net profit by 12 percent to P9.1 billion as higher earnings from its leasing business complemented the growth in its core housing business.
— Philippine Daily Inquirer

Palace official: NFA rice not yet depleted
Assistant Secretary Jonas Soriano of the Office of the Cabinet Secretary on Tuesday belied reports that the rice reserve of the National Food Authority (NFA) has been depleted.
— ABS-CBN (video)

ALI issuing P10-billion bonds to fund expansion
Property giant Ayala Land, Inc. is raising P10 billion from the issuance of 10-year fixed rate bonds as part of its three-year Debt Securities Program (DSP) of up to P50.0 billion.
— Manila Bulletin

China eyes PH airport funding
China is interested to finance an airport project in the Philippines, while San Miguel Corp.’s proposal to build an “aerotropolis” in Bulacan will soon be up for President Duterte’s approval, the National Economic and Development Authority said Tuesday.
— Philippine Daily Inquirer

ICTSI rolling out first barge terminal in the Philippines
The country’s first roll-on roll-off barge terminal project is set to be launched this month, the Department of Transportation (DOTr) said.
— Philippine Star

PSEi pushes above 8,000 despite U.S.-China trade war worries
Philippine shares appear to shrug off trade war fears on Tuesday as the PSE Index pushes further above the 8,000 level.
— ABS-CBN (video)

Lending to MSMEs approaches P1 billion
LOANS issued to small businesses surged in 2017 to nearly P1 billion, the Bangko Sentral ng Pilipinas (BSP) said, with lending supported by new rules on credit surety which took effect last year.
— BusinessWorld Online

Poverty gains at risk from rising inflation
Poverty reduction efforts are at risk from rising inflation and the government must implement immediate reforms to ensure that gains over the last few years are protected, the National Economic and Development Authority (NEDA) said on Tuesday
— The Manila times

PH can become upper middle income country by 2019 – NEDA
Banking on the high growth of the country’s gross national income (GNI), the National Economic and Development Authority (NEDA) sees the Philippines becoming an upper middle income country by next year, or 3 years ahead of target.
— Rappler

GT Capital raises P25B to fund participation in Metrobank’s SRO
GT CAPITAL Holdings, Inc. secured fresh debt to participate in the stock rights offer of Metropolitan Bank & Trust Co. (Metrobank), which will use the funds for its business operations and expansion.
— BusinessWorld Online

Agricultural trade down 4% in Q4
The country’s agricultural trade decreased by 4 percent to $4.19 billion (at least P218.2 billion) in the fourth quarter of 2017 as exports fell and imports rose, the Philippine Statistics Authority (PSA) said.
— The Manila times

Coffee conquers conflict for business-savvy farmers in the Philippines
Five years ago, Filipina farmer Marivic Dubria would buy Nescafe sachets to serve visitors because she was embarrassed by the quality of the coffee she grew next to her main vegetable crops.
— Reuters

Lifting of tattoo ban a disadvantage to PNP: exec
The lifting of the tattoo ban for police officers would be a disadvantage to the Philippine National Police (PNP), a police official said Tuesday.
— Philippine News Agency

Phoenix Petroleum revenue grew 45% to P44.43 billion in 2017
PHOENIX Petroleum Philippines Inc. continued to improve its market share, ending 2017 with 6.2 percent as against the previous year’s 5.7 percent.
— Business Mirror

NEDA body approves San Miguel’s Bulacan airport, 8 other projects
San Miguel Corporation’s P700-billion proposal to build, operate, and maintain an airport in Bulacan – along with 8 other infrastructure projects – has been approved by a National Economic and Development Authority (NEDA) body.
— Rappler

PHL, US enter into agreement on workplace discrimination against Fil-Ams
THE Philippine Embassy in Washington, D.C., and the United States Equal Employment Opportunity Commission (EOCC) have signed a memorandum of understanding (MoU) that would address workplace discrimination against Filipinos in the US, the Department of Foreign Affairs (DFA) said.
— BusinessWorld Online

PH could benefit from trade wars
A PHILEXPORT official believes a looming trade war between the United States and China may benefit other countries, including the Philippines.
— Sun Star

Comelec to look into ‘wet ballots’ in Marcos poll protest
The Commission on Elections (Comelec) will look into the allegations of former Senator Ferdinand Marcos, Jr., including the alleged wet ballots at the start of the recount proceedings on Monday, in connection with his election protest against Vice President Leni Robredo before the Presidential Electoral Tribunal (PET).
— Northbound Philippines

Peso slips on US-China tensions
THE PESO slipped against the dollar on Tuesday despite strengthening to the P51 level intraday as investors remained cautious amid escalating concerns over a possible trade war between the US and China.
— BusinessWorld Online

 

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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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