Philippines morning news for April 8

Philippines morning news for April 8

Philippines morning newsPolicy easing now more likely as inflation slows to 3.3%
HEADLINE inflation slowed to a 15-month low of 3.3 percent in March, the Philippine Statistics Authority (PSA) reported on Friday, bolstering the chances that monetary authorities could begin relaxing policy next month.
— The Manila Times

Gov’t borrowings surge to P309 B
The national government’s gross borrowings in the first two months rose almost two-fold compared to year-ago level due to the higher volume of domestic securities issued during the period, according to the Bureau of the Treasury.
— The Philippine Star

Philippines President Duterte warns China of ‘suicide attacks’ if it invades island
It’s a tactic not seen since the dying days of World War II: desperate soldiers, sailors and pilots flinging themselves at their enemies in suicide attacks.
— News.com.au (video)

Boracay closure pulls down West Visayas arrivals, tourism receipts
TOURIST arrivals in Western Visayas dropped by 15.33 percent to some 4.96 million in 2018, largely due to the closure of Boracay Island for six months.
— Business Mirror

PDEA seizes highest volume of illegal drugs in Q1 of 2019
Authorities seized a total of PHP5.27 billion worth of shabu in the first quarter of the year, posting the highest volume of illegal drugs seized in the country’s drug law enforcement history, the Philippine Drug Enforcement Agency (PDEA) said Sunday.
— Philippine News Agency

Combined bonds, TDF to mop up large liquidity – BSP
The central bank plans to use a combination of debt instruments and term deposit facility (TDF) for a more effective monetary operations after it has restored its authority to issue Bangko Sentral ng Pilipinas (BSP) stabilization bonds.
— Manila Bulletin

PHL insurance firms improve in Asean index
INSURANCE companies and mutual benefit associations (MBAs) in the Philippines have shown an improvement in terms of corporate governance for the year 2018, based on a regional scorecard tracking such entities in Southeast Asia, according to the Insurance Commission (IC).
— Business Mirror

PSE finds 55 firms to be Shariah-compliant
THE Philippine Stock Exchange, Inc. (PSE) found 55 listed firms to be compliant with Islamic principles of finance as of March 25.
— BusinessWorld Online

Indonesian player on offense in Philippines’ $1bn coffee war
A coffee war is brewing in the Philippines after Indonesia’s PT Mayora Indah announced plans to produce instant coffee locally to take on Swiss giant Nestle and local food and beverage juggernaut Universal Robina.
— Nikkei Asian Review (paywall)

PCIJ to Duterte: Explain wealth instead of losing your cool
The Philippine Center for Investigative Journalism (PCIJ) responded to what it called President Rodrigo Duterte’s “broadsides” aimed at PCIJ’s recent reports on the Duterte family’s wealth, saying there was no reason for the President to “lose his cool.”
— Rappler

Chinese arbitration body’s standards questioned amid Philippine loans
The government must find out whether the arbitration body in Beijing that will resolve possible disagreements between the Philippines and China over the loans extended will follow international standards in handling such disputes, Sen. Sherwin Gatchalian said yesterday.
— The Philippine Star

Australia sets aside $85-M dev’t aid for PH: Envoy
The Australian government has allocated about USD85 million in development assistance to the Philippines, Australian Ambassador Steven Robinson said.
— Philippine Canadian Inquirer

Meralco, Japan partners investing P6.3b in Clark
The joint venture of Manila Electric Co., Marubeni Corp., The Kansai Electric Power Co. Inc. and Chubu Electric Power Co. Inc. are investing P6.3 billion over 25 years to operate and maintain the electric power distribution system in New Clark City.
— Manilastandard.net

Rice prices fall again after signing of new tariffication law’s IRR
THE average farmgate price of palay, or unmilled rice, fell 0.47% week-on-week to P18.87 per kilogram in the fourth week of March, according to the Philippine Statistics Authority (PSA), continuing to decline as the Rice Tariffication Law moved forward to full implementation.
— BusinessWorld Online

U.S. senators urge PH gov’t to drop charges vs. De Lima, Maria Ressa
Five senators from the United States have filed a measure seeking to drop the charges against Philippine Senator Leila De Lima and journalist Maria Ressa.
— CNN Philippines

Corporate regulator drafting guidelines on issuance of ASEAN social bonds
THE Securities and Exchange Commission (SEC) is currently drafting guidelines on the issuance of social bonds aligned with regional standards, as it looks to offer new ways of financing social projects.
— Business Mirror

Agri-agra loans grow 23% in 2018
Loans extended by Philippine banks for agriculture and agrarian reform jumped by more than 23 percent last year but remained below the threshold mandated by the law.
— The Philippine Star

Russian firm inks P30-billion fertilizer supply deal with PPI
VIGOROUS Alliance, a Dubai-based Russian-owned company, signed a P30-billion fertilizer supply agreement with Planters Products, Inc (PPI), according to Agriculture Secretary Emmanuel F. Piñol.
— BusinessWorld Online

BARMM launches ‘full disclosure’ portal on official financial deals
The new Bangsamoro government has opened an online portal showing its financial operation and transactions, from budgeting to income expenditures, in a step toward full disclosure.
— Business Mirror

DA to deploy ‘meat sniffing’ K9s in airports to combat threat of African Swine Fever
The Department of Agriculture (DA) is deploying meat sniffing dogs in all international airports across the Philippines in a bid to strengthen the country’s defenses against the entry of African Swine Fever (ASF).
— GMA News

Recto seeks probe on sand, gravel quarrying
SENATE President Pro Tempore Ralph Recto has urged the government to review existing policies on sand and gravel quarrying, transport and sale amid the global shortage of sand and rising local demand for construction materials.
— The Manila Times

Cybercrime arrests up by 291% in 2018
The number of people arrested for cybercrime offenses in the country increased by 291 percent last year, the Philippine National Police Anti-Cybercrime Group (ACG) reported.
— The Philippine Star

BSP conducts successful operation vs. currency mutilation
Operatives of the Currency Management Sector of the Bangko Sentral ng Pilipinas (CMS-BSP) recently conducted a successful operation against currency mutilation in Real, Quezon which led to the arrest of two suspects, the BSP revealed in a statement over the weekend.
— Philippine News Agency

Rody suspends law on motorcycle plates
President Rodrigo Duterte on Saturday decided to temporarily suspend the implementation of the Motorcycle Crime Prevention Act, or Republic Act 11235, after thousands of motorcycle riders opposed the law mandating the use of bigger license plates.
— Manilastandard.net

BSP signs currency settlement deals with ASEAN central banks
THE BANGKO SENTRAL ng Pilipinas (BSP) has forged agreements with the central banks of Indonesia, Malaysia and Thailand as they look to set up direct settlement systems across currencies.
— BusinessWorld Online

OFW deployment drops in Jan-June 2018
The number of overseas Filipino workers (OFWs) deployed in the first semester of last year declined by 67 percent, preliminary records from the Philippine Overseas Employment Administration (POEA) showed.
— The Manila Times

Australia begins review of PHL’s banana safety standards
Canberra is now reviewing the documents submitted by Manila to resolve the sanitary and phytosanitary (SPS) concerns of Australia in importing Cavendish bananas from the Philippines.
— Business Mirror

PH now Australian business’ top expansion destination
Australian businesses in Southeast Asia have picked the Philippines as the most preferred destination for their expansion, a recent survey showed.
— Inquirer.net

Filipinos’ retirement savings lowest in Asia — Manulife survey
Filipinos have set aside only 3.6 months’ worth of personal savings for their retirement, the lowest among eight countries in Asia, according to a survey conducted by Manufacturers Life Insurance Co. (Manulife).
— The Philippine Star

Duterte can’t evade command responsibility for EJKs – Joma Sison
President Rodrigo Duterte could not escape command responsibility for extrajudicial killings linked to his war on drugs, as he has apparently incited the police and military to kill suspects, according to exiled Communist Party of the Philippines (CPP) founder Jose Maria “Joma” …
— Inquirer.net

‘US to remain Phlilippines’ only military ally’
The United States will remain the only military ally of the Philippines, Foreign Affairs Secretary Teodoro Locsin Jr. said yesterday.
— The Philippine Star

Metro Manila hits 35.4 C, highest recorded yet in 2019 — Pagasa
METRO Manila’s hottest temperature so far in 2019 was recorded on Saturday at 35.4 degrees Celsius (C), the state weather bureau said.
— The Manila Times

DoLE asks for 5,000 inspectors to monitor foreign workers
THE Department of Labor and Employment (DoLE) said it will need 5,000 labor inspectors to monitor foreign workers, and estimated the funding requirement at P2.5 billion.
— BusinessWorld Online

PHL participation in Biofach and Vivaness 2019 earns $20-million sales
THE Philippines’s Outbound Business Matching Mission (OBMM) to Nuremberg, Germany, with Biofach and Vivaness 2019 held on February 11 to 20, 2019, earned actual sales of over $1 million and over $19 million in negotiated sales.
— Business Mirror

DOST allocates P17.7M for tech upgrading of NegOcc MSMEs
The Department of Science and Technology (DOST) has allocated PHP17.7 million for the implementation of technology innovation projects of micro, small, and medium enterprises (MSMEs) in Negros Occidental for 2019.
— Philippine News Agency

ABS-CBN wins $27 million anti-piracy case in US
Media and entertainment giant ABS-CBN Corp. has won an anti-piracy case in the US and is set to receive $27 million in damages.
— The Philippine Star

Duterte tells military, police to ‘learn the art of assassination’
President Rodrigo Duterte over the weekend said he instructed the police and the military to learn the art of assassination to counter the Sparrow Unit, the hit squad of the New People’s Army (NPA).
— GMA News

Robredo: ‘Ready but not eager’ to take over presidency
Vice President Leni Robredo clarified on Sunday that she would be “ready but not eager” to take over the country’s top post should President Rodrigo Duterte declare a revolutionary government.
— Inquirer.net

Duterte slams PCIJ report on family’s wealth
President Rodrigo R. Duterte has criticized the report of the Philippine Center for Investigative Journalism (PCIJ) for scrutinizing his family’s wealth and accused journalists of being paid hacks.
— Philippine News Agency

Hackers deface gov’t websites for bragging rights –NBI
National Bureau of Investigation’s Cybercrime Division believes that hackers who defaced government agencies’ websites primarily did so for bragging rights.
— GMA News

PRRD would rather not be politician forever
President Rodrigo R. Duterte said he has no interest in prolonging his term of office beyond 2022 because he would rather not be a politician forever.
— Philippine News Agency

5.2-magnitude quake jolts Eastern Samar
A 5.2-magnitude earthquake hit Eastern Samar on Sunday, April 7. The Philippine Institute of Volcanology and Seismology said the quake struck 43 kilometers northeast of Maydolong at 5:58 a.m.
— Eagle News

PCOO eyes new training center in Bukidnon; Andanar thanks China for donation
Presidential Communications Secretary Martin Andanar thanked the Chinese government on live radio on Friday, saying the country has offered P100 million to fund an upcoming project of the Presidential Communications Operations Office.
— GMA News

President Duterte sees no need to name celebrities with drug links; they’re civilians not running for public office, he says
President Rodrigo Duterte said he is not in favor of releasing the names of those in the entertainment industry who are involved in drugs, as they are civilians, unlike public and government officials, including those running for public office, whose names should be known by the public.
— Eagle News

NPA owns up to abducting 3 people in Oriental Mindoro
The New People’s Army (NPA) assumed responsibility for the brief “arrest” of three people, including a village chief, in Bansud town in Oriental Mindoro province on Friday evening.
— Inquirer.net

Envoys join Filipino business leaders in ushering attendees to Franchise Asia Philippines 2019 International Expo
THE 2019 edition of the International Franchise Expo of the Franchise Asia Philippines 2019 – Asia’s grandest and biggest 4-in-1 franchising event held on March 27 to 31, 2019 at the SMX Convention Center Manila – opened with a big bang, with state officials and diplomats from different participating countries joining local business leaders in the ribbon cutting rites to signal the start of the three-day show held from March 29 to 31, attracting another record number of attendees.
— The Manila Times

PCC files case vs developer over condo’s ‘exclusive’ internet setup
THE Philippine Competition Commission (PCC) recently filed a case against a property company for “abuse of dominance” over its exclusive deal with an internet service provider (ISP) covering a low-cost residential condominium project in Manila.
— BusinessWorld Online

New Valenzuela pumping stations to ease floods, says DPWH
The government expects two new pumping stations in Valenzuela City to ease flooding in low-lying areas.
— Rappler

Let your travel attest beauty of PH, PRRD tells bikers
President Rodrigo Roa Duterte urged members of various motorcycle clubs in the country to let their travel serve as proof that it’s indeed more fun in the Philippines.
— Philippine News Agency

There is need to build public ethic that respects nature: Dominguez
Finance Secretary Carlos Dominguez III in a statement on Sunday underscored the need for fresh efforts to instill in the public consciousness the importance of a mutually beneficial relationship between man and nature, which is the underlying goal behind the ongoing efforts to save the …
— Philippine News Agency

NCRPO on full alert for Holy Week
National Capital Region Police Office (NCRPO) director, Maj. Gen. Guillermo Eleazar, said cops will be on full alert status during the Holy Week in anticipation of the exodus of travelers.
— Philippine News Agency

 

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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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