Philippines Morning News For March 29

Philippines Morning News For March 29

Philippines morning newsPH debt further swells to record P6.821 trillion in February
The national government’s debt stock further swelled to another new record-high P6.821 trillion in February partly as the peso further weakened against the US dollar that month.
— Philippine Daily Inquirer

Maybank sees PH GDP growing by 7% this year
Regional investment powerhouse Maybank Kim Eng Group sees the Philippines growing by 7 percent this year as the Duterte administration’s ambitious “Build, Build, Build” program may finally show more “visible impact” on the economy.
— Manila Bulletin

Average PH home prices up 3.6% in ’17
Residential real estate prices rose by 5.7 percent year-on-year in the fourth quarter of 2017 as the Residential Real Estate Price Index increased to 117.4 from 111.1 in the same quarter a year ago, the Bangko Sentral ng Pilipinas (BSP) said.
— Philippine Daily Inquirer

PHL, Indonesian businesses unable to provide volume to Roro shipping
Businesses from both the Philippines and Indonesia could still hardly provide the volume to sustain the recently opened and the only roll-on, roll-off (Roro) cargo shipping in the Celebes Sea, the sea-lane that once saw a regular barter trading between Filipino, Muslims and Indonesian traders for centuries.
— Business Mirror

No Grab monopoly: 3 ride-hailing companies applying for accreditation
The Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday said there will be no monopoly with Grab because three Transport Network Companies (TNCs) are applying for accreditation.
— CNN Philippines

DTI says profiteering, price violations triple in 2018
Many businesses have been caught jacking up the prices of commodities, putting the blame on the government’s tax reform.
— ABS-CBN (video)

Amid prospects for bilateral FTA talks, U.S. critiques Philippines at WTO
The U.S. criticized the Philippines over its intellectual property regime and food safety inspection measures during the World Trade Organization’s review of Manila’s trade policy this week, laying out what could be obstacles in talks for a potential bilateral trade deal.
— World Trade Online

Domestic trade volume rises in Q4, value declines
THE volume of domestic trade in goods rose in the fourth quarter of 2017 but declined in terms of value, the Philippine Statistics Authority (PSA) said.
— BusinessWorld Online

Multinational companies to grapple with second tax reform package
The finance department is not budging, even as the BPO sector continues to lobby for the retention of tax perks awarded to multinational companies.
— ABS-CBN (video)

Philippine international investment position weakens
The country’s international investment position (IIP) at the end of last year continued to weaken as its net liability position increased during the period, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— Philippine Star

PH miners face stiffer competition in world market
The local mining sector is expecting a tougher business environment this year as the return of Indonesia to the international market is seen to pose stiff competition, said the chief of the Chamber of Mines of the Philippines (COMP).
— Philippine Daily Inquirer

Money supply expands 13.5% in February
More money circulated in the country’s economy in February as lending grew a tad faster, the Bangko Sentral ng Pilipinas reported Wednesday.
— Philippine Star

Rate of 7-day TDF down on lower bids
Rate of the seven-day Term Deposit Facility (TDF) fell Wednesday after banks tendered lower bids.
— Philippine News Agency

Lone bidder qualifies for P84-million Baggao Water Supply Project
A lone bidder was declared qualified to participate in the auction for the P84-million water supply project of the municipal government of Baggao in Cagayan province.
— Rappler

ABS-CBN targets 6 million TVplus boxes sold by 2018
ABS-CBN Corp. looks to end 2018 with at least six million TVplus boxes sold, in a bid to expand coverage among households in the country.
— BusinessWorld Online

SMC saves 4 billion liters of water
San Miguel Corp. (SMC) said it has saved about 4 billion liters of water a year after it announced its flagship sustainability project to measure its water footprint and reduce consumption by 50 percent by 2025.
— The Manila Times

GT Capital core net income rises to P15B
GT Capital Holdings, Inc. yesterday disclosed that it achieved a 29 percent growth in core net income of P15 billion in 2017 from P11.7 billion in 2016.
— Sun Star

Duterte to PNP: Catch makers, sellers of fake medicines
President Rodrigo Duterte ordered police to arrest those who manufacture and sell fake medicines, announced Malacañang on Wednesday, March 28.
— Rappler

Asian markets tumble, as tech stocks in Wall Street plunge
Philippine shares closed in the red, joining the bloodbath among Asian stocks. Local stocks, however, might get a lift, if the next batch of corporate earnings could deliver stellar results.
— ABS-CBN (video)

Peso climbs on profit taking
THE PESO strengthened against the dollar on Wednesday on the back of profit taking ahead of the Holy Week break.
— BusinessWorld Online

BOC inspects P600-M worth of ‘fake’ beauty products
Bureau of Customs (BOC) Commissioner Isidro Lapeña, together with representatives of some known brands, on Wednesday inspected two warehouses in Manila where boxes of counterfeit beauty and skin care products and other merchandise estimated to be worth PHP600 million were found.
— Philippine News Agency


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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