Philippines morning news for May 24

Philippines morning news for May 24

Philippines morning news

‘Hot money’ outflows dip to $299M in April
FOREIGN portfolio investments or “hot money” net outflows reached $298.83 million in April, lower than March’s $739 million and reversing the $279.29-million inflow posted a year ago, Bangko Sentral ng Pilipinas (BSP) data showed on Thursday.
— The Manila Times

Debt-to-GDP ratio rises to 44% in Q1
The proportion of the national government’s debt to economic output rose to 44 percent in the first quarter of the year due to the increase in domestic borrowings, the Department of Finance (DOF) said yesterday.
— The Philippine Star

Philippines rejects Canada’s offer to ship back its trash by June 30
The Philippines said it has rejected Canada’s new proposal to ship back tons of trash it dumped in the Philippines by June 30, the spokesperson of Philippine President Rodrigo Duterte said on Thursday.
— Xinhuanet

Inflation among poor households eases to 16-month low of 4.3%
The increase in prices being felt by poor families further eased to a 16-month low of 4.3 percent in April amid slower food price increases.
— Philippine Daily Inquirer

ADB approves 2.75 bln USD loan to build elevated railway support in Philippines
The Asian Development Bank (ADB) has approved financing of up to 2.75 billion U.S. dollars for the construction of 53.1 kilometers of a passenger railway in the northern Philippines, the Manila-based bank said on Thursday.
— Xinhuanet

BSP cuts RRR for small banks
The central bank’s Monetary Board reduced the reserve requirement ratio (RRR) imposed on thrift/savings banks by 200 basis points (bps) while a 100 bps cut was decided on the smaller rural and cooperative banks.
— Manila Bulletin

Employers see FDI dropping due to anti-endo bill
EMPLOYERS said they expect foreign direct investment (FDI) to suffer when the Security of Tenure (SoT) bill is signed into law, after the Senate voted 15-0 to approve the bill on third and final reading.
— BusinessWorld Online

Rising employment gap, skills mismatch hound local IT industry
Dearth in skilled local IT, mismatch between job requirements and available skill set, and gaps in education and training have been identified as among the major challenges faced by the country’s IT sector today.
— Manila Bulletin

IFEX trade show hopes to generate $551.2M in orders
THE government expects to sign over P10.5 billion or $551.2 million worth of export and domestic orders at the upcoming International Food Exhibition (IFEX) Philippines later this month.
— BusinessWorld Online

CoA flags DND’s long-standing unliquidated project funds
THE Commission on Audit (CoA) said the Department of National Defense (DND) has failed to implement various projects which has been pending for three to 11 years and failed to return the funds associated with the projects, incurring long-running payables to other agencies.
— BusinessWorld Online

NEA plans to modify norms for evaluating co-ops
THE NATIONAL Electrification Administration (NEA) has proposed changes to the way it evaluates the performance of electric cooperatives by including their energization level among the parameters, the agency said on Thursday.
— BusinessWorld Online

Duterte signs law renaming Compostela Valley as Davao de Oro
President Rodrigo Duterte has signed a law changing the name Compostela Valley to Davao de Oro.
— Eagle News

Palace: PHL to send back Australian trash
MALACAÑANG on Thursday said the government wants the trash recently dumped in Misamis Oriental shipped back to Australia.
— BusinessWorld Online

EDC seeks perks on geothermal projects
Geothermal leader Energy Development Corp. urged the government to grant incentives to the development of geothermal energy to provide not only clean and reliable power but also jobs and livelihood to local communities.

Marawi’s fallen soldiers remembered on 2nd anniversary of conflict
The valiant soldiers who offered their lives for Marawi City’s liberation from terrorists in 2017 were commemorated at the Libingan ng mga Bayani in Taguig during the second anniversary of the start of the five-month conflict on Thursday.
— GMA News

‘Murang Kuryente’ measure hurdles bicam; ratification seen next week
THE SENATE and House of Representatives are set to ratify next week the proposed “Murang Kuryente Act,” which could end up taking effect in September.
— BusinessWorld Online

Greenpeace: PHL should ban entry of hazardous waste, recyclable or not
After the discovery of containers of trash shipped to the Philippines from South Korea, Canada and Australia in recent months, environment advocacy group Greenpeace said Thursday that the Philippines should ban the entry of all forms of hazardous waste, including those under the guise of recycling.
— GMA News

Medialdea warns public vs individuals using his office, OP to solicit money
Executive Secretary Salvador Medialdea on Thursday, May 23, warned the public against individuals using government offices to solicit funds.
— Eagle News

NFA palay procurement exceeds 4 million bags
THE National Food Authority (NFA) said its total procurement of palay, or unmilled rice, breached the 4-million bag mark in the year to date, when it lost its importing mandate and reorganized to focus on domestic procurement.
— BusinessWorld

PRRD to heed military recommendation on martial law in Mindanao
President Rodrigo R. Duterte will heed the military’s recommendation before deciding whether to lift or extend anew martial law in Mindanao, Malacañang said Thursday.
— Philippine News Agency

Malacanang warns against people asking for money in exchange for gov’t post
The office of Executive Secretary Salvador Medialdea warned the public Thursday against unscrupulous individuals using the name of his office and the Office of the President.
— GMA News

Crime incidents in Davao Region down during election week
The Police Regional Office-11 (PRO-11) has reported a decline in the number of crime incidents in Davao Region during the May 12 to 19 election period.
— Philippine News Agency

Huge number of OFWs in Dubai ‘big factor’ in Duterte’s decision to join Expo 2020 – DTI
Trade Secretary Ramon Lopez said the presence of a huge number of Filipinos in the United Arab Emirates played a “big factor” in the Philippines’ decision to join EXPO 2020 Dubai.
— Rappler

Businessman files P1-billion cyber libel raps vs Bikoy, Facebook, Youtube
Peter Joemel Advincula along with Facebook and Youtube face a P1-billion cyber libel complaint for having dragged the names of a Bicolano businessman and his resort in the “Bikoy videos.”
— Manila Bulletin

Myanmar, Philippines sign air services deal
Myanmar and the Philippines have signed an air services agreement, aimed at enhancing cooperation in the aviation sector, Myanmar’s Transport and Communications Ministry said on Thursday.
— Global Times

Biodiversity loss to bring more sickness
Two experts expect people’s health to further deteriorate if the environment continues to take a beating.
— Philippine News Agency

Philippine Navy’s first ever missile-capable warship hits water
The Philippine Navy’s first ever missile-capable warship, the future BRP Jose Rizal, hit the water on Thursday, May 23, during a launching ceremony in South Korea.
— Rappler

Congress OKs Mislatel’s transfer to Dennis Uy-China Telecom group
Businessman Dennis Uy’s bid to be the third player in the telecommunications industry can now move forward after changes to the franchise of Mindanao Islamic Telephone Company, Inc. (Mislatel) cleared Congress.
— CNN Philippines

Car importers register 12% sales growth
The Association of Vehicle Importers and Distributors Inc. reported a 12-percent increase in sales to 7,259 units in April from 6,476 units in the same month last year.

Farm industry suppliers signal eagerness to supply RCEF needs
THE Department of Agriculture’s potential partners from the private sector are eager to participate in the implementation of the Rice Competitiveness Enhancement Fund (RCEF), a farm equipment and seed company said.
— BusinessWorld Online

PHL dairy production up 1.53% in January-March
The country’s dairy output in first quarter rose by 1.53 percent to 6,150 metric tons (MT) due to the increase in milk-producing herd and high farm-gate prices offered by traders and processors, according to the National Dairy Authority (NDA).
— Business Mirror

The Philippines at war
In the area of governance, none perhaps seems more important than the State’s survival. And the matter of survival becomes more imperative when the country is dragged into war.
— BusinessWorld Online

Police-training bodies transferred to PNP
PRESIDENT Rodrigo R. Duterte has signed a law transferring the Philippine National Police Academy (PNPA) and the National Police Training Institute (NPTI) from the Philippine Public Safety College (PPSC) to the Philippine National Police (PNP) in a bid to “beef up” the agency’s internal cleansing efforts.
— BusinessWorld Online

OES warns vs. use of fraudulent schemes to solicit funds
The Office of the Executive Secretary (OES) on Thursday warned the public against persons using the office in “fraudulent schemes” to solicit funds.
— Philippine News Agency

No need to protest against Morales treatment in HK
Malacañang on Thursday said there is no need to file a protest against Hong Kong over how their immigration officials treated former Ombudsman Conchita Carpio-Morales when she was temporarily denied entry at the airport for allegedly being a “security threat.”
— Philippine News Agency

House party-list coalition to collectively vote for next Speaker
An organization of at least 50 party-list representatives in the 18th Congress is set to collectively vote for the next Speaker of the House.
— GMA News

DOH6 to launch 1st mall-based clinic in PH
The Department of Health – Center for Health Development (DOH-CHD) 6 is set to launch on May 28, 2019 at Robinsons Place Iloilo the country’s first mall-based clinic that will provide preventive and promotive health care.
— Philippine Information Agency

Sandiganbayan grants plea bargain for ex-NPDC exec in security services contract case
The Sandiganbayan has granted a plea bargain between the prosecution and the former acting executive director of the NPDC, who had been charged with graft in connection with her approval of a P12.63-million security services contract.
— GMA News

DepEd underscores importance of water, hygiene, and sanitation in schools
With more than 27 million students expected to flock to the classrooms starting next month, the Department of Education (DepEd) underscored the importance of water, hygiene, and sanitation (WASH) facilities in schools.
— GMA News

House party-list coalition takes in Cardema as member
A House party-list coalition has taken in former National Youth Commission chair Ronald Cardema as its member.
— Eagle News

PNC leads weight management project in Abra prov’l offices
The Provincial Nutrition Committee (PNC) leads a weight management project in provincial government offices for the total health improvement of public employees.
— Philippine Information Agency

Duterte appoints replacement for late BTA member
President Rodrigo Duterte has appointed Mudjib Compania Abu as member of the Bangsamoro Transition Authority (BTA), replacing the late Moro Islamic Liberation Front (MILF) vice chair Ghazali Jaafar, Malacañang said on Thursday.
— Philippine News Agency

Romualdez elated with House manifesto backing his speakership bid
Leyte Representative-elect Martin Romualdez is elated that many House members are reportedly supporting his bid to become Speaker of the 18th Congress.
— GMA News

Kalinga evacuation center nears completion
Construction of the two-storey evacuation center located at the Capitol compound here is nearing completion.
— Philippine Information Agency

DOLE-Camiguin intensifies 8-hour mandatory OSHS
The Department of Labor and Employment (DOLE)-X Camiguin Provincial Field Office (CAM-PFO) in coordination with the HSE International Health Safety and Environment International Consultancy (HSEIC) conducted a series of eight-hour training for Occupational Safety and Health Standards (OSHS), April 29-30 at Villa Paraiso Resort and Apartelle, here.
— Philippine Information Agency


Feature photo Philippine Beekeeping

This week’s Philippines morning news feature photo acknowledges World Bee Day, May 20.


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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