Philippines Morning News For April 6

Philippines Morning News For April 6

Philippines morning news

PEZA takes in over $4.5-billion US, Mideast investment pledges
THE AGENCY in charge of economic zones bagged more than $4 billion investment pledges from the US and Middle East, following its “aggressive” investor roadshows conducted during the first quarter.
— BusinessWorld Online

Philippines secures $500-million investment commitments from Middle East
The Philippines has secured $500 million worth of investment pledges from Middle East countries ahead of President Duterte’s visit there next week.
— Phil Star

Karnataka mulls river sand import from Indonesia and Philippines
Hit by acute shortage of sand and its skyrocketing price, the Karnataka government may allow import of sand from Indonesia and the Philippines.
— Times of India

World Street Food Congress back in ‘undiscovered’ Philippines
Get ready to toss your diet out the window as the World Street Food Congress (WSFC) is coming back to Manila.
— CNN Philippines

Truce deal signed
The Philippine Government (GRP) and the National Democratic Front (NDF) signed on Wednesday an Agreement on an Interim Joint Ceasefire (AIJC) in Noordwijk, the Netherlands that will move peace negotiations significantly closer to resolving 48 years of armed conflict in the Philippines.
— Manila Bulletin

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Duterte’s Philippine Tax Plan May Reverse Foreign Fund Exodus
Philippine equities can lose their tag as the only emerging Asia market to suffer foreign fund outflows this year — with a helping hand from President Rodrigo Duterte.
— Bloomberg

India may dilute China-led Asia trade pact
India’s foot dragging on a China-championed Asia trade pact has increased the risk the deal gets diluted or delayed.
— BusinessWorld Online

Immigration chief cancels all approved leaves of employees
Immigration Commissioner Jaime Morente on Wednesday threatened to declare absent without official leave (Awol) Bureau of Immigration employees who would not report back to work after he ordered the cancellation of all approved leaves for this month.
— Inquirer.Net

Defence relations in a globalized world
Philippines’ developing defence links with New Zealand augur well for regional security in an uncertain era.
— Phil Star

Duterte’s ratings take a hit
PRESIDENT Rodrigo Duterte continued to enjoy majority approval and trust ratings but the figures have started to decline, the latest survey by Pulse Asia showed.
— The Manila Times

Duterte fires Undersecretary over rice importation ‘irregularities’
President Rodrigo Duterte has fired another official on Wednesday for purportedly defying the National Food Authority’s (NFA) decision to put rice importation activities on hold, Agriculture Secretary Emmanuel Piñol said Wednesday.

Kadamay won’t stop takeovers, wants end to housing monthly dues
Urban poor group Kadamay on Thursday said it cannot promise to stop occupying idle government housing projects even after President Rodrigo Duterte allowed their members to remain in the housing units they laid claim to in Bulacan.

BSP sees rates steady for now
THE CENTRAL BANK still has enough room to keep interest rates steady despite faster inflation in March, the Bangko Sentral ng Pilipinas (BSP) chief said yesterday, noting that the general price uptick was still within expectations.
— BusinessWorld Online

Bank of China: Alibaba, Tencent headed to Philippines on investment mission
The Bank of China announced on Tuesday that representatives from Chinese tech giants Alibaba and Tencent are heading to the Philippines to discuss investments in the country.
— Asia Times

Term deposits undersubscribed as investors shift to retail bonds
DEMAND for the central bank’s auction of term deposits remained tepid yesterday, failing to fill up the P180-billion offering for the third straight week, as some market players shifted their placements on retail Treasury bonds (RTBs) just before the sale period lapses, with yields sought by firms also rising.
— BusinessWorld Online

After standoff, SBMA threatens to shut down marine theme park in Subic
Officials of the Subic Bay Metropolitan Authority (SBMA) have threatened to close down Ocean Adventure here following the latest standoff in the marine theme park resulting from a management rift.
— Inquirer.Net

BI appeals for transition period for employees
The Bureau of Immigration (BI) has reiterated its appeal to President Duterte to give employees of the agency a transition period during which they can continue receiving their overtime pay until Congress passes a new immigration law.
— Manila Bulletin

Maynilad, Manila Water to hike rates
Water rates will go up this summer as the Metropolitan Waterworks and Sewerage System (MWSS) approved its concessionaires’ implementation of an increase in their foreign currency differential adjustment (FCDA) to recover foreign exchange losses incurred in the previous months.
— Phil Star

Pinoy executives in France to inspect boats for PCG
Filipino officials inspected four brand new 24-meter fast patrol boats in France purchased by the Philippine government to modernize its Coast Guard fleet.
— Phil Star

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ASEAN bats for globalization amid protectionist threats
The Philippines led nine other Southeast Asian nations on Thursday in vowing support to economic openness, particularly among themselves, at a time populist governments in the US and Europe embrace protectionism.
— Phil Star

ADB: Asian growth seen steady, US policy uncertainty a risk
The Asian Development Bank says Asia’s developing economies will see steady growth this year and the next, though the evolving policies of President Donald Trump’s administration are a major uncertainty.
— Phil Star

Group targets 4,000 more gov’t houses for takeover
Leaders of the urban poor group Kalipunan ng Damayang Mahihirap (Kadamay) on Wednesday asked President Duterte if they could take over other housing projects meant for soldiers, policemen and firemen in Bulacan province.
— Inquirer.Net


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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