Philippines Morning News For March 15

Philippines Morning News For March 15

Philippines morning newsWar on Terrorism: The Making of a Philippine Scout Ranger (video)
The Philippines is on the front line in the global war on terrorism with recent  reports saying that Maute-ISIS remnants are regrouping and preparing to mount additional attacks.
— AEC News Today (video)

US expert claims he warned Sanofi about health risks of Dengvaxia
An American expert on tropical diseases told the Philippine Senate on Tuesday that he warned French pharmaceutical giant Senofi Pasteur about the risks of using anti-dengue vaccine Dengvaxia in 2016, The Manila Times Online reported on Wednesday.
— Thai PBS

PH startup to launch $35-M coin offering in Singapore
FILIPINO start-up Acudeen Technologies, Inc. is set to launch a $35-million cryptocurrency offering in Singapore next month.
— The Manila Times

Watch In Horror As The Philippines Bulldozes Priceless Sports Cars To Combat Smuggling
Grab a box of tissues, because you’re about to witness 14 amazing sports cars—including a BMW Z1, Porsche 911 GT3, Mercedes SL55 AMG, Opel Manta and BMW Alpina B12—get smushed into thin sheets by a bulldozer and a backhoe. It’s not pretty.
— Jalopnik (video)

Duterte to Withdraw Philippines From ICC After ‘Outrageous Attacks’
The Philippines said on Wednesday (14/03) that it is withdrawing from the International Criminal Court due to what President Rodrigo Duterte called “outrageous” attacks by UN officials and violations of due process by the ICC.
— Jakarta Globe

ADB issues $3.25-billion 5-year bonds to boost capital resources
The Asian Development Bank (ADB) has returned to the US dollar bond market and issued $3.25 billion worth of debt papers to boost its ordinary capital resources.
— Business Mirror

Remittance growth to pick up as OFWs benefit from weaker peso — HSBC
CASH REMITTANCES are expected to grow faster this year as overseas Filipino workers (OFWs) will likely take advantage of a weaker peso to send more funds to their families back home, analysts at a global bank said, even as they flagged risks from a deployment ban to Kuwait.
— BusinessWorld Online

Alegria Oil Field in Cebu found to produce oil, natural gas
The Department of Energy (DOE) announced on Wednesday that the Alegria Oil Field in Cebu has commercial quantities of oil and natural gas resources.
— Philippine News Agency

Philippine Airports Could Get a $3.8 Billion Makeover
Aboitiz Equity Ventures Inc., a Philippine conglomerate mainly invested in power, is ready to spend about 200 billion pesos ($3.8 billion) in upgrading the Southeast Asian country’s rickety and overcrowded airports.
— Bloomberg

Nickel Asia profit jumps 41% to P2.7B
NICKEL Asia Corporation, the country’s top nickel miner, posted core net income of P2.77 billion in 2017, up 41 percent from the previous year as higher prices offset lower output.
— The Manila Times

P50 billion earmarked for Ortigas East property development
Land developer Ortigas & Company announced plans to redevelop its Frontera Verde property along Ortigas Avenue and Julia Vargas Avenue into a new estate which it envisions as a natural extension to the Ortigas Central Business District base.
— Rappler

Asean what? SWS finds 45% of Pinoys ‘not much’ aware of it
About 45 percent of Filipinos are “not much” aware of what the Association of Southeast Asian Nations (Asean) is, a nationwide Social Weather Stations (SWS) survey taken in the last quarter of 2017 revealed.
— Inquirer.net

US allocates additional P100-M aid for Marawi rehab
The United States will be providing additional P100 million assistance for Marawi residents displaced by the 5-month siege that left the city in ruins.
— ABS-CBN

Gov’t workers’ uniform allowance raised to P6,000
Government workers will receive a uniform allowance of P6,000 this year, up from the previous P5,000, Budget Secretary Benjamin E. Diokno said on Wednesday.
— Philippine Daily Inquirer

San Miguel Pure Foods profit up 16% at P6.9B
SAN Miguel Pure Foods Co. Inc. (Pure Foods) saw its net income grow 16 percent in 2017 to P6.9 billion from the P6 billion in 2016, backed by higher volumes from poultry, meat, and branded value-added businesses.
— The Manila Times

Micro apartments offer relief for Metro traffic woes
Traffic-weary office workers now have the option to rent a small but conveniently located apartment in the capital, its developer said Wednesday.
— ABS-CBN (video)

Metrobank sets final terms for P60-B stock rights offer
METROPOLITAN BANK & Trust Co. (Metrobank) has set the final terms for its stock rights offering (SRO), through which it looks to raise P60 billion to fund its business operations and expansion.
— BusinessWorld Online

Govt earmarks P700M for farm mechanization
The government, through the Department of Agriculture (DA) and the Sugar Regulatory Administration (SRA), has allotted P700 million that farmers can avail of as loans to mechanize their farms and boost productivity.
— The Manila Times

Manufacturing investments grow 244 pct in 2017: trade chief
Manufacturing investments grew 244 percent to $1.15 billion in 2017, reflecting the potential of the sector to drive economic growth and create jobs, Trade Sec. Ramon Lopez said Wednesday.
— ABS-CBN

DBM allots P2 billion for national IDentification system implementation
Budget Secretary Benjamin T. Diokno expressed hope Congress will pass the proposed national identification (ID) system into law as early as next week.
— Business Mirror

Term deposit rates rise further
Term deposits continued to fetch higher rates as banks awash with cash swarmed yesterday’s auction anew.
— Philippine Star

Smart ramps up rollout of LTE-Advanced
SMART Communications, Inc. is ramping up the deployment of LTE-Advanced (LTE-A) and carrier aggregation technology, as it seeks to improve mobile data services to its subscribers.
— BusinessWorld Online

PH shares join regional downturn amid fears over US protectionism
Philippine shares slipped to their lowest level for the year, joining a regional downturn amid fears of rising US protectionism.
— ABS-CBN (video)

House passes divorce bill on second reading
The divorce bill hurdled the House of Representatives on second reading Wednesday.
— CNN Philippines

ARMM okays P290-m banana farm expansion
The Autonomous Region in Muslim Mindanao has approved 50 more hectares of corporate banana farms’ expansion worth P290 million in Maguindanao, the Regional Board of Investments said Wednesday.
— Manila Standard

Govt allots P2.5B for ‘green’ program
The government has allotted P2.5 billion for a “Green Green Green” program aimed at transforming Philippine cities into more livable and sustainable communities, the Budget department announced on Wednesday.
— The Manila Times

ICC Cabinet approves Mindanao flood control project, 2 others
THE National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved three new projects, including a flood control project in Mindanao and a traffic-alleviating project in Metro Manila.
— Sun Star

IC orders closure of 5 non-life insurers
The Insurance Commission (IC) ordered the closure of five non-life insurance companies and placed them under conservatorship for failure to meet the statutory capital requirement.
— Manila Bulletin

Peso keeps ground vs USD; PSEi slips anew
An anticipation of a 0.2 percent hike in US inflation rate for February 2018 failed to greatly affect the Philippine peso unlike the Philippine Stock Exchange index (PSEi).
— Philippine News Agency

Philippines Lawmaker Seeks Tougher Penalties for Crypto Crimes
People in the Philippines face heavier sentences for crimes involving cryptocurrencies if a proposed new bill is passed into law.
— Coindesk

 

Feature photo Fabio Achilli

 

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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