Philippines Morning News For May 31

‘Infra program at risk from stalled tax reform’
The envisioned golden age of infrastructure under the Duterte administration may end up becoming the “bronze age” even or “dark age” if Congress does not pass the proposed tax reform bill, a Cabinet official said yesterday.
— Phil Star

Govt set to fund most infra projects
The government will tap its own budget to fund most infrastructure projects under the 2017-2022 Public Investment Program, National Economic and Development Authority Undersecretary Rolando Tungpalan said Tuesday.
— Manila Standard

Govt sees better Q2 economic growth
The Philippines’ chief economist expects the country to post improved gross domestic product (GDP) results in the second quarter compared with the first on the back of sustained domestic demand and investment.
— The Manila Times

Reduced tax perks bad for BPO firms
Property consultancy firm Colliers International has warned of the adverse impact on the country’s business process outsourcing (BPO) industry of reduced tax perks proposed under the first package of the tax reform program.
— Phil Star

Philippines: Mindanao conflict impacts new investments
Fighting between government forces and rebels affiliated with so-called Islamic State (IS) on the Philippine island of Mindanao has put potential investments in limbo, although local authorities insist major metropolis Davao City is still open for business.
— Fresh Fruit Portal

Philippines-bound travelers cautioned of checkpoints
Amid the busy summer travel season, Philippines-bound Guam travelers are advised to be prepared for police and military checkpoints in Metro Manila because of heightened security.
— The Guam Daily

Ayala Land luxury unit builds new subdivision after sales hit record
Ayala Land said it was building its 8th subdivision in the south following record sales in the first three months on the year for its luxury unit.
— ABS-CBN

San Miguel to build $150-M brewery in Los Angeles
San Miguel Corp said Wednesday it was planning to build a $150-million brewery in Los Angeles, its first in the US.
— ABS-CBN

Financial markets weather impact of martial law – ING
Dutch financial giant ING Bank said the political impact on the financial markets is likely to remain low a week after President Duterte declared martial law in Mindanao as government forces continued to run after terrorists.
— Phil Star

Future-Proofing the Philippines’ BPO Sector
The Philippines’ Business Process Outsourcing (BPO) industry remains one of the world’s most vibrant and flourishing industries. Not only does it provide jobs for millions of Filipinos, but it also helps sustain the country’s economy. In fact, it is estimated that the BPO sector would bring in revenues of up to $24 billion by the end of the year.
— Philippine Daily Inquirer

Manila Water optimistic on growth prospects
Manila Water Co. Inc is confident of its financial growth this quarter despite its net income dipping in the first three months of the year, driven by higher billed volume and as well as opportunities overseas.
— Phil Star

It’s final: Pres. Duterte to skip Japan trip
Duterte is set to deliver a speech at the 23rd Nikkei International Conference on the Future of Asia in Tokyo, Japan on June 5 and 6.
— Manila Bulletin

EU group: China still treats foreign firms unfairly
Doing business in China remains difficult for many European companies and most are still being treated unfairly, a lobby group said Wednesday, undermining Beijing’s claims that it welcomes foreign investment.
— Philippine Daily Inquirer

Lalamove creates new App for quicker delivery
At this time when technology is king, the easy transport and delivery of goods and services can be had by simply tapping on one’s mobile phone, tablet or PC.
— Manila Standard

Philippine shares yield to profit-taking
Investors pocketed gains Tuesday in line with a regional downtrend, driving share prices lower on the Philippine Stock Exchange.
— GMA

Share prices take breather
The stock market took a back seat yesterday on lack of leads due to the holidays in some key markets abroad.
— Phil Star

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Philippines Morning News For May 31 added by Leakhena Khat on May 31, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.