Philippines morning news for April 30

Philippines morning news for April 30

Philippines morning newsPhilippines, China to address ‘irritants’ through bilateral mechanisms: Palace
The Philippines and China will address “irritants” in disputed waters using bilateral mechanisms, President Rodrigo Duterte’s spokesman said Monday.
— ABS-CBN News

DFA warns Duterte gov’t vs Huawei amid warming ties with China
The Department of Foreign Affairs (DFA) has warned President Rodrigo Duterte’s government about the risks of partnering with telecommunications giant Huawei in government projects, an internal memorandum obtained by Rappler showed.
— Rappler

DOH’s low budget use continues; unused funds amount to billions
Unused funds earmarked for the Department of Health (DOH) continue to balloon – with some P9 billion unused funds in 2018, a lawmaker pointed out Monday.
— Inquirer.net

China Telecom signs $5.4bn agreement to launch the Philippines’ third telco
China Telecom has signed a $5.4 billion agreement with the Udenna Corporation to launch Mislatel – the Philippines’ long awaited third telco.
— Total Telecom

PCSO to release P6.5 million to earthquake-hit Pampanga, Zambales
The Philippine Charity Sweepstakes Office (PCSO) will release a total of P6.5 million in financial aid to Pampanga and Zambales – provinces hit by the recent magnitude 6.1 Luzon earthquake.
— Rappler

S&P sees little factory boost for GDP
THE PHILIPPINES and many other major Asia-Pacific economies will not be able to rely on manufacturing to fuel growth just yet, S&P Global Ratings said in an April 29 report, noting that “despite improvement in PMI (purchasing managers’ index) data, the region’s industrial production data continue to be weak.”
— BusinessWorld Online

PH seeks $400-M World Bank loan to bolster disaster defense
With the Philippines located along the path of strong typhoons and the earthquake-prone “Ring of Fire,” the government is seeking a $400-million loan from the World Bank to partly boost resilience to natural calamities.
— Philippine Daily Inquirer

Fire rages through 21-storey Manila building, 1 dead
A fire raged through the top floors of a 21-storey residential building in the Philippine capital on Monday, in the middle of a scorching summer.
— Bangkok Post (annoying pop-ups)

‘Brownouts will hound PHL in next few years’
THE chairman of the country’s largest power-distribution firm warned on Monday that the country would continue to experience power shortage in the next few years unless more capacity is added to the grid.
— Business Mirror

‘Supervening condition’ needed before DOLE acts on wage petition
The Department of Labor and Employment (DOLE) on Monday said the Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) will entertain the new wage petition if there is a “supervening condition”.
— Philippine News Agency

200K local, overseas jobs up for grabs in Labor Day job fair
Some 200,000 local and overseas jobs will be offered during the nationwide job and business opportunities fair on May 1, the Department of Labor and Employment (Dole) said.
— Inquirer.net

Rate cut a matter of timing as oil gains
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Sunday it was only a matter of timing as to when monetary policy is eased after last year’s series of interest-rate increases, even as authorities closely monitor oil prices.
— Manila Bulletin

Neda: P5 billion in RCEF for farmers released in Q3
THE P5 billion under the Rice Competitiveness Enhancement Fund (RCEF) as mandated by Republic Act (RA) 11203 or the Rice Liberalization Act will be released in the third quarter of this year, the National Economic and Development Authority (Neda) said on Monday.
— Business Mirror

Philippines tourism to benefit from China economic rebalancing
Other than the manufacture of more finished goods, tourism products is another export subsector that can help Philippine businesses benefit from the continued rebalancing of China toward a consumption-led economy, according to a top economist of the World Bank.
— The Philippine Star

Philippine cbank chief: Reserve ratio should be single digit before 2023
Philippine central bank governor Benjamin Diokno said on Monday that the country’s reserve requirement ratio (RRR) for banks, currently at 18 percent, should be reduced to a single digit before his term ends in 2023.
— Yahoo News

Philippines backs legally binding instrument on aging
The Philippines conveyed its support for a legally binding instrument on aging to ensure that the rights, needs and wellbeing of older persons are promoted, protected and fulfilled.
— The Philippine Star

WB, ADB working to eliminate duplication in PHL programs
THE World Bank Group is now working with a coordinated country program to help eliminate project redundancies with the Asian Development Bank (ADB), according to the Department of Finance (DoF) on Monday.
— BusinessWorld Online

Palace: No need for China consent to declare Pag-asa, E. Kalayaan protected areas
Malacañang on Monday said the Philippines does not have to seek China’s consent to declare Pag-asa Island and Eastern Kalayaan in the West Philippine Sea marine protected areas.
— GMA News

Campaigners on election day to be arrested by police, COMELEC warns
Candidate supporters caught still campaigning during election day or distributing sample ballots and doing “generous” acts for voters especially in the vicinity of the precincts will be detained at least until the end of the voting hours, an official of the Commission on Elections (COMELEC) warned.
— Philippine Information Agency

More than 300T tourist arrivals in MisOr town
The local government unit of Initao has reached a total of 325,029 tourists who visited its tourist destinations in 2018.
— Philippine Information Agency

Ateneo Human Rights Center exec says report on 7,000 killed in drug war came from media
An official from the Ateneo Human Rights Center on Monday said the record on the 7,000 drug-related killings since President Rodrigo Duterte took power was based on media reports.
— GMA News

DOH to declare measles outbreak over only when vaccination target reached
Nearly 3 months since a measles outbreak was declared in several regions in the country, Health Secretary Francisco Duque III said the Department of Health (DOH) would only lift that declaration when the target vaccination coverage rate of 95% is reached.
— Rappler

PHL, China ink deal to jointly combat corruption
The Philippines and China have inked a deal to combat corruption.
— Eagle News

Philippine film foundation flipped the script for a ‘dead’ industry
Nearly two decades ago, the Philippine film industry was widely considered “dead.” Now it is regarded as one of the brightest lights in Asian cinema, with the Cinemalaya Foundation leading a revival of independent movies.
— Nikkei Asian Review (paywall)

Gov’t revives Food Terminal to support agri producers
The government-owned Food Terminal Incorporated (FTI) gets a total refurbishment in a bid to provide necessary aid to Filipino agricultural producers.
— Philippine News Agency

DTI sees drop in rice prices
Trade Secretary Ramon Lopez said prices of rice will go down to P30 to P32 per kilo within the year under a liberal environment but said President Duterte can intervene whenever there is a marked increase or decrease in prices to ensure both consumers and farmers are protected.
— Malaya

Agencies divided on P10-B agri fund
As farmers anticipate the prompt release of assistance in transition to a new rice regime, misunderstanding hounds government agencies on the proper allocation and utilization of the P10-billion Rice Competitiveness Enhancement Fund (RCEF) of the Rice Tariffication Law.
— The Manila Times

Palace sees no conflict of interest in Dante Ang’s role in ‘ouster matrix’ story
Malacañang said on Monday it sees no conflict of interest on the part of Manila Times chairman emeritus Dante Ang, an appointee of President Rodrigo Duterte who wrote the article that alleged a plot among veteran journalists and other groups to oust the chief executive.
— GMA News

DTI vows price cap if cement price hits P240/bag
The Department of Trade and Industry (DTI) will impose a price cap on cement should retail prices hit P240 per bag in light of the delay in Tariff Commission hearings.
— Business Mirror

Philippines: Ayala launches $150m VC fund targeting tech innovations
Philippine-listed conglomerate Ayala Corporation and its subsidiares are raising a new venture capital fund that will invest globally in new technologies, particularly in e-commerce, fintech, and healthtech, Chairman and CEO Jaime Augusto Zobel de Ayala said.
— Deal Street Asia 

PNP chief orders probe into Huawei controversies
PNP chief Police General Oscar Albayalde has directed the Directorate for Investigation and Detective Management to look into the allegations of other countries against Chinese company Huawei.
— GMA News

LGUs told to junk polluters’ permit
The government on Monday told local government units not to issue building permits to establishments unless they have wastewater treatment facilities that conform with environmental laws and policies.
— Manilastandard.net

Cancellations hound Cebu Pacific
LOW-COST carrier Cebu Pacific remains unsure if operations would return to normal next month after canceling flights due to what it had described as an “unprecedented level of disruption.”
— The Manila Times

Moody’s gives ‘Baa2’ to govt’s euro bond offer
MOODY’S Investors Service on Monday assigned an investment grade score on the government’s planned euro debt issuance.
— The Manila Times

‘PH gaming earnings will still grow’
THE Philippine gaming industry will sustain its growth momentum despite uncertainty in the regulatory environment, according to Fitch Ratings.
— The Manila Times

‘Pagcor must issue casino license for Waterfront Hotel’
The Court of Appeals has sustained its earlier decision ordering the Philippine Amusement and Gaming Corp. to issue a license to Waterfront Philippines Inc. for a casino-hotel it plans to build in Entertainment City in Parañaque City.
— Manilastandard.net

Euro bond road shows completed this week
THE GOVERNMENT plans to determine next week when to price its planned benchmark-sized euro-denominated notes, after getting feedback from institutional investors in Europe at road shows that end this week, the Bureau of the Treasury (BTr) said.
— BusinessWorld Online

Cagayan pushes for stricter conservation measures in Callao Cave
CAGAYAN, Philippines – With the discovery of Homo luzonensis in Callao Cave in Peñablanca, Cagayan, many tourists have taken a keen interest in the area.
— Rappler

Magnitude 4 quake jolts Surigao del Norte again
A magnitude 4 earthquake of tectonic origin struck General Luna in Surigao del Norte on Monday night.
— Inquirer.net

PHL, foreign lawyers ‘disturbed’ by attacks vs. NUPL
Seventy-five Filipino and foreign attorneys on Monday stood behind the National Union of Peoples’ Lawyers and said they are disturbed by attacks against the group of human rights lawyers.
— GMA News

Oil price hike set for April 30
Oil prices will rise on Tuesday, April 30, as petroleum-exporting countries continue to withhold supply.
— Rappler

 

Feature photo Bong Santisteban/ Rappler

This week’s Philippines morning news feature photo acknowledges World Press Freedom Day, May 3.

 

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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