Philippines Morning News For April 9

Philippines Morning News For April 9

Philippines morning newsHelicopter ride-sharing service takes off in Manila
TECH START-UP Ascent has introduced its helicopter ride-sharing service in Manila, targeting both local and foreign businessmen who are looking for a way to avoid the traffic in the Philippine capital.
— BusinessWorld Online

COA questions trade expo execs over P3 million in gadgets
The Commission on Audit (COA) has asked the Center for International Trade Expositions and Missions (CITEM) to explain its “unnecessary” purchase of high-end gadgets amounting to P2.957 million in 2017.
— Rappler

BIR ordered to refund nearly P900M to PAL
THE Court of Tax Appeals (CTA) ordered the Bureau of Internal Revenue (BIR) to refund Philippine Airlines, Inc. (PAL) nearly P900 million in taxes on jet fuel imports.
— BusinessWorld Online

DoubleDragon inks P4.97 B in deals for more SM Savemore supermarkets
DoubleDragon Properties Corporation (DoubleDragon), through subsidiary CityMall Commercial Centers Incorporated (CityMall), has signed a deal that will see more supermarkets sprouting across the provinces.
— Rappler

5 Philippine cities among 10 safest in Southeast Asia
Five cities in the Philippines have been named among 10 safest in Southeast Asia.
— Philippine Star

Manila to order 250,000 tonnes of emergency rice import from Thailand or Vietnam
The Philippines is considering an emergency purchase of up to 250,000 tonnes of rice either from Thailand or Vietnam to replenish its depleging rice reserves for domestic consumption, according to The Manila Times Online report on Saturday (April 7).
— Thai PBS

Duterte to make pitch for inclusive growth
President Duterte is expected to make a pitch for inclusive growth or prosperity felt by all when he participates in a regional economic forum in China this Tuesday.
— Manila Bulletin

Philippines’ Boracay workers appeal for aid after order to close
Along the shores of Philippines’ top holiday island, Boracay, businesses like massage parlours, souvenir stalls, tattoo shops and boat rentals are still thriving while tourists bask in the sun on the powdery white sand, but not for long.
— The Straits Times

Philippines regulator orders pushback in Uber’s shutdown amid ongoing review
The Philippines’ anti-trust agency said on Saturday it has ordered Uber Technologies Inc to continue domestic operations as it reviews the ride hailing firm’s deal to sell its money-losing Southeast Asian business to rival Grab.
— Deal Street Asia

Subic power firm signs P750-M lease extension
One Subic Power Generation Corp., a fully owned subsidiary of Phinma Energy Corp., has signed a 10-year lease extension agreement for the operation of the diesel-power plant here, a contract that will yield P750 million in lease and revenue shares to the Subic Bay Metropolitan Authority (SBMA).
— Business Mirror

PHL industries get P56.6-billion subsidies in 2015
The subsidies extended by Filipino taxpayers to various industries increased 44.3 percent in 2015, according to the Philippine Statistics Authority (PSA).
— Business Mirror

Govt reforestation program to focus on rehab of 143 critical watersheds
The Duterte administration’s reforestation program will focus on the rehabilitation of the country’s 143 critical watersheds, an official of the Department of Environment and Natural Resources (DENR) said.
— Business Mirror

BSP plans to set up overnight index swap system (OIS)
The government plans to introduce the overnight index swap (OIS) system when it expands the repurchase (repo) market, which it has already initiated in November last year.
— Manila Bulletin

Debt payments jump in January
Government debt service jumped by almost a fifth in January owing to higher principal payments due to the depreciation of the peso relative to the US dollar, data from the Bureau of the Treasury showed over the weekend.
— Manila Bulletin

400% pension hike for veterans gets House panel’s nod
The House committee on appropriations has approved a proposed law that raises the old-age pension of war veterans to P20,000 from P5,000.
— ABS-CBN

P155 pay hike petition filed
At least six labor organizations had petitioned for an across-the-board wage increase in Central Visayas, according to the Department of Labor and Employment’s (DOLE) Regional Tripartite Wages and Productivity Board in Cebu.
— Philippine Daily Inquirer

2,000 Boracay IPs to get jobs under DOLE emergency employment program
Thousands of informal and indigenous peoples (IPs) working on Boracay will be given jobs once the six-month shutdown is enforced.
— CNN Philippines

LTFRB wary on PCC order allowing Uber to continue ops
The Land Transportation Franchising and Regulatory Board (LTFRB) has expressed concern that the order of the Philippine Competition Commission (PCC) for ride-sharing firms Uber and Grab to maintain their separate business operations beyond April 8 would adversely impact the safety and welfare of the riding public.
— Philippine News Agency

More wet ballots, grass found as VP poll recount continues
The camp of former senator Ferdinand “Bongbong” Marcos Jr. discovered more wet ballots in ballot boxes from the hometown of Vice President Ma. Leonor “Leni” Robredo.
— The Manila Times

Fintech firm Acudeen Technologies delays $35-million coin offering to May
LOCAL financial technology startup Acudeen Technologies has pushed back its $35-million coin offering to May in order to conduct more road shows in Asia.
— BusinessWorld Online

Network declares P2.43B dividends
GMA Network’s board of directors approved the declaration of cash dividends totaling P2.43 billion or P0.50 per share, during a meeting held at the GMA Network Center on April 5.
— Malaya

Pag-IBIG Fund Mindanao home loans rise 10% in 2017
State-run Home Development Mutual Fund, or Pag-IBIG Fund, issued P7.33 billion worth of loans in 2017 in Mindanao, up 10% from a year earlier.
— BusinessWorld Online

Experts push for law on open data
A multi-sectoral forum of scientists, academics, government and civil society experts are pushing for a new law that provides open access to data that are crucial in responding to disasters.
— Manila Standard

Tugade sacks personnel of entire LTO branch in Nueva Vizcaya
Department of Transportation (DOTr) Secretary Arthur Tugade has relieved the employees and personnel assigned at the Land Transportation Office (LTO) in Nueva Vizcaya province following reports of extortion activities while conducting law enforcement operations.
— Philippine Canadian Inquirer

Blue chips could weigh on PSEi
The stock market could test the 7,700 level following blue chip declines last week and continued concerns over a trade war between the United States and China, analysts said.
— The Manila Times

EDC sets lower capital spending for 2018 shares
Lopez-led Energy Development Corp. (EDC) has set a lower capital spending this year as it completed major rehabilitation projects and focused on improving the reliability of its geothermal power plants.
— Philippine Star

Duterte orders military to step up intel ops
President Duterte has ordered the military to step up intelligence operations to combat lingering security threats such as terrorism and insurgency.
— Tempo

Philippine Airlines to suspend Kuwait flights from May 16th
Philippine Airlines (PAL) will temporarily halt its ‘economically unsustainable’ flights to and from Kuwait from May 16, the airline announced on Saturday.
— MENAFN

Chicken inventory in Davao region down
THE Philippine Statistics Authority in Davao Region (PSA 11) reported a 15.36-percent decline in the inventory of all types of chicken in the region.
— Sun Star

Negros Oriental commits to be coal-free
Negros Oriental has joined the growing list of Philippine provinces that have
committed to be coal-free for the protection of residents and the environment.
— Philippine Star

 

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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