Philippines Morning News For June 29

Philippines Morning News For June 29
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Philippines morning news

PH keeps Tier 1 ranking in human trafficking
The Philippines has maintained its Tier 1 ranking in the US State Department’s 2017 Trafficking in Persons Report (TIPR) after fully meeting the minimum standard for the elimination of human trafficking.
— Manila Bulletin

Philippines approves $6 bln worth of infrastructure projects
A Philippine government panel led by President Rodrigo Duterte has approved 305.64 billion pesos ($6.05 billion) worth of infrastructure projects aimed at spurring one of Asia’s fastest growing economies.
— Nasdaq/ Reuters

More infrastructure work on launch pad
PRESIDENT Rodrigo R. Duterte is ending his first year in office on June 30 with more infrastructure and social service projects — cumulatively worth some P304.45 billion — readied for launch, having bagged final approval from the National Economic and Development Authority (NEDA) Board in its meeting last Monday.
— BusinessWorld Online

Philippine banana exports to China drop by 33%
Philippine banana exports to China have dropped by 33 percent for the first four months of 2017 compared to the same period of 2016. PBGEA executive director Stephen Antig said they have already foreseen the drop after the production of all major banana producers in the country was severely hit by a long dry spell last year.
— Fresh Plaza

Gov’t plans sale of $500-M bonds to OFW
The government is planning to raise $500 million by selling bonds next year to overseas Filipino workers (OFWs), the Bureau of the Treasury (BTr) said yesterday.
— The Philippine Star

China probes Phl drug rehab donor for graft
A Chinese billionaire and philanthropist who donated P1.4 billion for the construction of a major drug rehabilitation center in Nueva Ecija is being investigated by Chinese authorities on corruption charges, according to a report by the Financial Times.
— The Philippine Star

JG Summit sets P48.2-B spending plan
JG SUMMIT Holdings, Inc. is jacking up its capital expenditure budget this year to jump-start the $700-million expansion of its petrochemical business.
— BusinessWorld Online

PH shares fall as peso weakens to over 10-year low
Philippine shares tumble alongside most Asian markets, amid a renewed sell-off in tech stocks.

PHL’s 2020 vision: Top 20 of ‘doing business’ ranking
The government and the private sector have taken on the gargantuan task of pulling the Philippines from its current ranking of 99th in the International Monetary Fund’s (IMF) Ease of Doing Business Report all the way to the top 20 by 2020.
— Business Mirror

PCSO made P5B from STL
The Philippine Charity Sweepstakes Office (PCSO) has earned P5 billion from Small Town Lottery (STL) in the first five months of the year, officials said on Wednesday.
— Philippine Daily Inquirer

Over 5,200 undocumented Filipinos repatriated from Saudi Arabia
The labor department makes a last-minute appeal to undocumented Filipino workers in Saudi Arabia to avail of the country’s amnesty program which will end on June 29.

Albay reports huge increase in quarry income
The provincial government of Albay reported generating P69.2 million in taxes on sand and gravel in less than a semester of 2017.
— Philippine Information Agency

Duterte: Shoot dead armed terrorists who don’t surrender
President Duterte on Wednesday said that he was willing to risk losing the Presidency in his war against illegal drugs.
— Philippine Daily Inquirer

CDC president faces ax over alleged corruption
President Duterte wants Clark Development Corp. (CDC) president Noel Manankil out of his post following reports that he has been demanding P2 million each from locators in the freeport.
— The Philippine Star

P4.6M proposed for drug detox program in Ilocos Norte
The Provincial Government of Ilocos Norte and the Department of Health have proposed a more than Php 4.6-million fund for the detoxification program of former drug dependents here.
— Philippine News Agency

China pushes joint training, intel gathering with Phl
China yesterday pushed for joint military training and intelligence-gathering exercises with the Philippines in the fight against terrorism.
— The Philippine Star

‘Lawmen facing raps in drug war to walk free’
President Duterte reiterated yesterday that no policeman or soldier would be put behind bars for following his orders to go after drug personalities.
— The Philippine Star

Philippines bill proposes jail time for unenthusiastic anthem singers
The country’s House of Representatives has approved a bill requiring members of the public to sing the country’s national anthem, Lupang Hinirang, “with fervor” whenever it is played publicly.

Turkey donates search, rescue equipment to Philippines
Turkish aid agency on Wednesday made a donation of vital search and rescue equipment to a non-government organization in Philippines.
— Anadolu Agency

Australia urged to join regional IS fight
A United States general is urging Australia to join the fight against Islamic State extremists in south-east Asia.

Philippines: STI-ESG divests 20% stake in Maestro Holdings
STI Education Services Group Inc (STI-ESG), a wholly-owned subsidiary of Philippine-listed STI Education Systems Holdings Inc, is divesting 20 per cent of its stake in Maestro Holdings Inc which holds capital stocks in top local insurance companies.
— Deal Street Asia

Cybercrime on the rise
The country has seen a rise in cybercrime and cyber bullying because of a shortage of police personnel dedicated to handle such cases, the Philippine National Police (PNP) said on Wednesday.
— The Manila Times

BSP gives banks until end-2017 to improve reporting standards
Banks have until the end of 2017 to make necessary changes in systems and processes and comply with the central bank’s stiffer rules on reporting standards.
— The Manila Times

Manufacturing’s rebound to attract even more foreign investors — UA&P
A STEADY REBOUND in the local manufacturing sector should attract more foreign investments to the Philippines and will in turn drive economic growth closer to the government’s goal, economists of the University of Asia & the Pacific (UA&P) said yesterday.
— BusinessWorld Online


Feature photo Rain Rannu
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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