Philippines Morning News For May 14

Philippines Morning News For May 14

Philippines morning newsDOF denies China asking for Philippines natural resources as loan collateral
Loans and other financing support granted by the Chinese government to the country do not involve any of the Philippines’ natural resources as collateral, the Department of Finance (DOF) said.
— Philippines Star

Remittances likely grew in March despite deployment ban
MONEY sent home by overseas Filipino workers (OFWs) likely kept growing in March despite a deployment ban to Kuwait, HSBC Global Research said.
— BusinessWorld Online

Supreme Court ousts Sereno in historic ruling
Maria Lourdes Sereno has become the first Chief Justice to be ousted by the Supreme Court.
— CNN Philippines

PHL rice imports to hit 1.1 MMT in 2019–report
The country’s rice imports in 2019 could decline by 21.42 percent to 1.1 million metric tons (MMT), as the increase in palay output would allow the Philippines to end 2018 with more stocks.
— Business Mirror

Philippines has the fastest growing HIV epidemic in Asia
The Human Immunodeficiency Virus (HIV) situation continues to be a serious public health problem in the Philippines as health officials reported 912 new HIV cases in March 2018.
— Outbreak News Today

PAL incurs bigger loss of nearly P800 M in Q1
The operator of flag carrier Philippine Airlines (PAL) saw its net loss widen in the first quarter this year from a year ago due to higher expenses.
— Philippines Magazine

DMCI Holdings earnings rose 5% to P4.3B in Q1
ENGINEERING conglomerate DMCI Holdings Inc. said its net income grew a slim 5 percent during the first quarter of the year to P4.3 billion from P4.1 billion last year.
— Business Mirror

TUV Rheinland certifies over 60 Data Protection Officers
TUV Rheinland has become the first independent testing, inspection and certification services organization to offer Personnel Certification for Data Protection Officers (DPO) in the Philippines. The move follows the signing of a cooperation agreement with the National Association of Data Protection Officers of the Philippines (NADPOP).
— AEC news Today/ PR Newswire

Anchor Land breaks ground for P1.5-B Cosmo Suites
ANCHOR LAND Holdings, Inc. is venturing into the “bedspace” business, starting with the development of a P1.5-billion project in the Bay Area that looks to cater employees of the business process outsourcing (BPO) sector in the area.
— BusinessWorld Online

DA loses 50K hectares on illegal land conversion
The Department of Agriculture (DA) is seeking an end to the illegal conversion of prime agricultural lands in the country as the government is losing an estimated 50,000 hectares yearly.
— Philippine Star

Yields on government debt climb following central bank rate hike
YIELDS on government securities (GS) traded in the secondary market rose slightly last week on demand following the highly anticipated decision of the Bangko Sentral ng Pilipinas (BSP) to hike rates.
— BusinessWorld Online

5 nabbed, P6.1 million beauty aids seized in spa raid
Five persons and P6.1 million worth of assorted slimming and skin whitening products were seized during a raid on a spa in Mandaluyong City last Tuesday, an official said yesterday.
— Philippine Star

Total fish output slips 3% in Q1
Fish production in the Philippines decreased by 3.03 percent to about 1 million metric tons (MMT) in the first quarter of 2018, the Philippine Statistics Authority (PSA) said.
— The Manila Times

GLOSFER, COINVIL to Establish Cryptocurrency Exchange in the Philippines
GLOSFER, a first-generation blockchain company in Korea, announced that it has signed an agreement with COINVIL on operating a cryptocurrency exchange in the Philippines.
— AEC news Today/ PR Newswire

Bill exempts from probes those who pay 20% more tax
House Deputy Speaker Eric Singson and Minority Leader Danilo Suarez have filed a bill seeking to exempt individual and corporate taxpayers from tax audit and investigations in exchange for paying the equivalent of 20 percent of the previous year’s tax payments.
— Philippine Daily Inquirer

Cash utilization by government agencies falls to 65% in April
NATIONAL GOVERNMENT agencies’ cash utilization fell to 65% in April, the Department of Budget and Management (DBM) said.
— BusinessWorld Online

ATI net income up 19% in Q1
Net earnings of Asian Terminals Inc. (ATI) rose by nearly a fifth in the first quarter from a year ago due to higher revenue from operations in the ports of Manila and Batangas.
— Philippine Star

PH partially lifts ban on Kuwait labor deployment
Malacañang announced on Saturday the partial lifting of the ban on the deployment of Filipino workers to Kuwait following the signing of a labor protection agreement in the Gulf state.
— Philippine Daily Inquirer

PhilHealth belies owing hospitals billions of pesos
The Philippine Health Insurance Corporation (PhilHealth) has belied allegations that it owes a number of hospitals some PHP7 billion to PHP9 billion in unpaid claims, calling the figures “erroneous and inaccurate”.
— Philippine Canadian Inquirer

Davao City taps online platform to help farmers with direct sales
THE DAVAO City Agriculturist Office (CAO) has launched two programs tapping social media to increase interest in agriculture among the young.
— BusinessWorld Online

Pre-poll violence: 4 die, mayor survives ambush
A MAYOR accused of drug trafficking survived an ambush Sunday, four months after President Rodrigo Duterte publicly threatened to kill him, while at least four other people were killed in the run-up to Monday’s barangay elections.
— Manila Standard

Uniqlo to open largest outlet in PH, SE Asia
The Philippine will host the largest Uniqlo store in the country and in Southeast Asia, Japanese retail holdings company Fast Retailing Co. Ltd. announced over the weekend.
— Manila Standard

Forex gain narrows PXP Energy net loss
PXP Energy Corp. narrowed its consolidated net loss to P8.4 million in the first quarter of 2018, compared with P8.5 billion a year ago, because of a foreign exchange (forex) gain of P15.5 million.
— The Manila Times

More missiles eyed for PH Navy
Aside from the newly-delivered Rafael Advanced Defense Systems Spike-ER missiles, Philippine Navy (PN) ships will be soon armed with torpedoes and with bigger and longer range surface-to-surface missiles.
— Northbound Philippines

 

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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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