Philippines Morning News For June 15

Philippines Morning News For June 15
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Philippines morning news

PH seen as ASEAN’s next ‘tiger economy’
Although a worsening infrastructure deficit, poverty and underemployment, and weaker global export demand have presented challenging headwinds, the Philippine economy is on track to surpass recent highs, making it the most likely to become the next “tiger economy” among ASEAN countries, according to the latest report by Oxford Business Group (OBG).
— Manila Bulletin

Most dangerous countries for tourists: Philippines ranks 11th
The Philippines is the 11th most dangerous country for tourists, according to the 2017 Travel and Tourism Competitiveness Report of the World Economic Forum.
— The Philippines Star

PAL to spend $80M to upgrade A330 aircraft
PHILIPPINE AIRLINES (PAL) is spending $80 million this year to reconfigure its A330 aircraft which will be used to expand its services in “mid-market” destinations in the region.
— BusinessWorld Online

ILO: Children in war-torn areas recruited as soldiers, spies
About 250 million children worldwide live in areas affected by clashes and a majority of them are recruited to work as soldiers and spies, the International Labor Organization (ILO) reported yesterday.
— The Philippines Star

UN report: Migrants sending billions more home than in 2007
Migrants are sending home billions of dollars more than they did a decade ago — and the rate of growth in remittances is almost double the increase in migration, according to a U.N. report released Wednesday.

Villar urges ban on ‘unli-rice’
Sen. Cynthia Villar on Wednesday called for a ban on the offering of unlimited rice servings or “unli-rice” in restaurants amid government efforts towards rice self-sufficiency.

Number of out-of-school Pinoys down – survey
ONE in every 10 Filipinos aged 6 to 24 is an out of school child and youth (OSCY), a government survey showed.
— The Manila Online

MPIC boosts Meralco stake
Metro Pacific Investments Corp. (MPIC) has further expanded its presence in the power sector with the purchase of additional stake in Manila Electric Co. (Meralco), in line with its goal to invest across the entire energy spectrum.
— The Philippines Star

Philippines: Abducted Crewman Escapes
ReCAAP has reported that one of the crew of the abducted fishing vessel Ramona 2 has escaped after five months of captivity.
— The Maritime Executive

SEC raises minimum public ownership to 20%
THE Securities and Exchange Commission (SEC) is requiring publicly-listed companies to increase their minimum public ownership to 20 percent, or double the current requirement.
— The Manila Online

No bombing of mosques, no new deadline for AFP
The military will not bomb mosques occupied by Maute group and Abu Sayyaf gunmen in Marawi and will not set a new deadline for liberating the city from the terrorists, the spokesperson for the Armed Forces of the Philippines said on Wednesday
— Philippine Daily Inquirer

DSWD to donate P5k for every family displaced from Marawi
The Department of Social Welfare and Development (DSWD) has released guidelines for the distribution of cash assistance, worth P5,000, for families displaced from the predominantly Muslim city of Marawi which has been besieged by a terror group since May 23.
— Philippine Daily Inquirer

DOJ moves to cancel Lascañas’ passport
Justice Secretary Vitaliano Aguirre II said on Thursday, June 15 that he will be requesting the Department of Foreign Affairs (DFA) to cancel the passport of retired cop and self-confessed Davao Death Squad (DDS) hitman Arturo Lascañas.
— Rappler

Palace backs original tax reform version
PRESIDENT Rodrigo R. Duterte “stands by” the original version of the first of up to five tax reform packages, which now moves to the Senate for action after the House of Representatives approved a watered-down version of the Department of Finance (DoF)-backed bill.
— BusinessWorld Online

Fund-raising surge seen from higher float level
THE BOURSE could see billions in additional funds raised starting next year as listed firms start moving to meet a higher minimum public ownership (MPO) requirement, Vicente Graciano P. Felizmenio, Jr., director of the Securities and Exchange Commission’s (SEC) Market and Securities Regulation Department, said in a public consultation yesterday at the Philippine International Convention Center in Pasay City.
— BusinessWorld Online

Companies allot billions for corporate social responsibility
Various companies allocated billions of pesos for corporate social responsibility this year. This, as they expect a decrease in foreign aid in the Philippines.

3 child evacuees die of severe dehydration; financial aid to IDPs increased to P5,000
Three child refugees in jampacked evacuation centers have succumbed to severe dehydration as health issues continue to hound Marawi residents seeking refuge in other evacuation centers.
— Manila Bulletin

80 social media accounts eyed for possible cyber-sedition
The Armed Forces of the Philippines (AFP) said it is now looking into the taking down of some 80 social media accounts suspected of cyber-sedition in relation to the Marawi attacks.
— Manila Bulletin


Feature photo  Mekong
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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