Philippines Morning News For April 4

Philippines Morning News For April 4
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Philippines morning news

Duterte’s China gambit yet to pay dividends
Beijing has pledged US$24 billion worth of investment and loans to jumpstart the Philippine economy but the funds have glaringly not yet arrived.
— Asia Times

Japan donates P826 M for Philippine drug rehabilitation
The Japanese government yesterday donated some 1.85 billion yen (P826 million) to the Department of Health (DOH) for the upgrading of rehabilitation centers and enhancement of treatment protocols for drug dependents.
— Phil Star

Ayala completes deal for Chevron’s geothermal assets in Indonesia
AC ENERGY Holdings, Inc. and its joint venture partners have completed the acquisition of Chevron Corp.’s geothermal assets and operations in Indonesia, its parent firm Ayala Corp. told the stock exchange on Monday.
— BusinessWorld Online

New Zealand warship now in Philippines
Philippine Navy BRP Rajah Humabon (FF11) today rendered customary meeting procedures at the vicinity of Corregidor Island and escorted the Her Majesty’s New Zealand Ship (HMNZS) Te Kaha (F77) to its designated berthing area in Manila’s harbor.
— Update Philippines

MPTC planning to spend P153 billion on projects
METRO PACIFIC Tollways Corp. (MPTC) is spending about P153 billion this year up to the first quarter of 2018 to start construction of projects in its pipeline and expand its existing assets.
— BusinessWorld Online

PMI gains round off ‘solid’ quarter
PHILIPPINE factory activity expanded for a second straight month in March, according to a monthly survey compiled by IHS Markit for Nikkei, but at a pace that was just second-fastest in Southeast Asia after Vietnam ranked as the no. 1 performer for two months in a row.
— BusinessWorld Online

Corruption in Philippines courts a trade barrier – US
The prevalence of corruption in the Philippines – including in the judiciary – has remained a significant barrier to trade with the United States, a report by the Office of the US Trade Representative (USTR) shows.
— Phil Star

Philippines’ Duterte fires interior minister over corruption allegations
Philippine President Rodrigo Duterte has fired his interior minister for “loss of trust and confidence”, the most senior government executive to be removed for corruption issues, two Cabinet officials said on Tuesday.
— Channel NewsAsia

ANZ bets on five BSP rate hikes in two years
THE BANGKO SENTRAL ng Pilipinas (BSP) could raise rates by as much as five times within the next two years to 2018 on the back of faster inflation and robust economic growth, with the first hike likely to be delivered as early as July, analysts at ANZ Research said.
— BusinessWorld Online

CTRP to unlock PH economic potential
THE main authors of the Comprehensive Tax Reform Program (CTRP) pending in Congress believe their combined proposals to convert the current tax system into a more progressive taxation will help unlock the full potential of the Philippine economy and ensure a brighter future for the country’s young Filipinos.
— The Manila Times

GT Capital nets P14.6B for 2016
GT CAPITAL Holdings, Inc. reported profits grew 21% in 2016, driven by strong revenues from its automotive business and gains from the sale of Global Business Power Corp.
— BusinessWorld Online

BI manpower shortage exposes PH to terror threats – Aguirre
Justice Secretary Vitaliano Aguirre II yesterday expressed concerns that the country may be more vulnerable to the entry of terrorists due to lack of Bureau of Immigration (BI) personnel manning air and sea ports.
— Manila Bulletin

PH security at risk due to shortage of Immigration personnel: Aguirre
Justice Secretary Vitaliano Aguirre II expressed concerns that the country may have exposed itself to the entry of terrorists due to understaffed Bureau of Immigration (BI) personnel manning the air and sea ports.
— Manila Bulletin

Govt, Reds agree to discuss truce
THE government and communist rebels on Monday agreed to negotiate an interim ceasefire agreement as peace talks resumed in the Netherlands after a one-day delay over President Rodrigo Duterte’s insistence on a clear bilateral truce.
— The Manila Times

Duterte ready to use force if peace talks with Reds fail
President Rodrigo Duterte gets tough with the National Democratic Front of the Philippines, setting preconditions to the resumption of peace negotiations. The chief executive says he is ready to use force against the Communists if the talks fail. – The World Tonight, ANC, April 3, 2017

‘China may have collected samples from Benham Rise’
PHILIPPINE Ambassador to China Chito Santa Romana on Monday bared that a Chinese survey ship may have collected maritime samples at Benham Rise.
— The Manila Times

The Philippines pursues renewable energy expansion
Construction has begun on the Philippines’ largest solar power project, with further interest being stimulated by foreign companies.
— Climate Action

Firm Takes Legal Action After Customs’ Bunker Seizure in the Philippines
Contesting a recent seizure of bunkers, Philippines-based San Miguel Corporation (SMC) is suing the Philippines’ Bureau of Customs (BoC), asserting that the seizure was carried out without due process and in the face of a complete set of import documentation, Philippine media reports.
— Ship & Bunker

Mass resignations, leaves plague immigration bureau
Long lines of travelers are back at Ninoy Aquino International Airport and Justice Secretary Vitaliano Aguirre II is blaming it on President Duterte’s order stopping the overtime pay of Bureau of Immigration officers at the airports.
— Inquirer.Net

M’sia regional favourite, gets the most from inflow of funds
Malaysia has emerged as the most favoured emerging market in South-East Asia year-to-date based on foreign liquidity flow in the local stock market, beating Thailand, Indonesia and the Philippines.
— The Star Online

China says it respects PH sovereign rights over Benham Rise—DFA
China has reaffirmed the Philippines’ sovereign rights over the mineral-rich Benham Rise according to the Department of Foreign Affairs (DFA).
— Inquirer.Net

DOJ to probe contract between BuCor, Tadeco
The Department of Justice (DOJ) is set to investigate the alleged anomaly in the contract between the Bureau of Corrections (BuCor) and the Tagum Agricultural Development Co. (Tadeco) owned by Davao del Norte 2nd District Rep. Antonio Floirendo Jr. Justice Secretary Vitaliano Aguirre II yesterday said he would create a team to conduct a fact-finding investigation on the allegations of Speaker Pantaleon Alvarez about the joint venture agreement (JVA) for the lease of 5,300 hectares of the Davao penal farm to Tadeco.
— Phil Star

LTO chief sued for withholding info on multimillion-peso license card deal
Advocacy group Anti-Trapo Movement (ATM) Monday filed a criminal complaint against Land Transportation Office (LTO) chief Edgar Galvante and executive director Romeo Vera Cruz for allegedly withholding several documents pertaining to its multimillion-peso project for the supply of driver’s license cards with five-year validity.
— Phil Star

Philippine soldiers kill ‘more than 10’ militants in bid to free captives
Philippine soldiers killed “more than 10” Islamic State-linked Abu Sayyaf militants in an attempt to free Vietnamese captives held on a remote southern island as troops fired howitzer shells on rebel positions, an army general said on Monday.
— Reuters

Philippines’ Largest Bitcoin Firm and Bitsquare Reject Bitcoin Unlimited
Major startups, companies, service providers, exchanges and wallet platforms within the Bitcoin industry have unanimously rejected Bitcoin Unlimited as both a hard fork solution and as a bitcoin software.
— The Merkle


Feature photo Brian Evans
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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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