Philippines Morning News For March 10

Welcome to the Philippines morning news roundup by AEC News Today, your one stop for Philippines news on matters of governance and policies affecting Asean business communities.

Philippines exports grow at fastest rate in 3 years
Exports from the Phlippines grew at their fastest clip in three years in January as shipments of electronics took off.
— Financial Times

Philippines has slowest internet in Asia Pacific: study
The Philippines has the slowest internet speed in the Asia Pacific region, global tech company Akamai Technologies said Thursday.
— ABS-CBN

Chinese survey ship spotted in Benham Rise, says defense chief
China could be trying to explore Benham Rise, Philippines’ defense chief said, in what could be another source of conflict between the Asian neighbors.
— ABS-CBN

U.S. stopped China’s plan to build on Scarborough
China was set last year to build on Scarborough Shoal but the US was able to stop the plan, Defense Secretary Delfin Lorenzana revealed on Thursday, March 9.
— Rappler

Duterte warns of martial law
Help him solve security problems or he’ll declare martial law in Mindanao.
— Philippine Star

Senate OKs Paris climate change accord
The Senate has approved on second reading the resolution concurring in the accession to the Paris Agreement. If passed on third reading next week, it would signal complete concurrence with Malacañang’s ratification of the agreement.
— Philippine Star

Gov’t readies 13 more projects for Chinese financing
The Philippine government plans to pitch up to 13 projects that can be rolled out in the next two to three years for potential Chinese financing, the Department of Finance said Thursday.
— Philippine Daily Inquirer

Speaker wants to impeach justices over infra TROs
Supreme Court justices face impeachment if they intervene in government projects or contracts, Speaker Pantaleon Alvarez said.
— Philippine Star

Tax reform seen key to inclusive growth
TAX REFORMS proposed by the Finance department will help economic growth stay above six percent in the medium term while reducing the burden of the poor, analysts at BMI Research said, even as they flagged risk from “growing divisions” in the Senate that could delay their approval.
— BusinessWorld

BSP minutes: Domestic growth indicators to remain ‘favorable’
THE PHILIPPINE ECONOMY is seen keeping its upbeat growth momentum this year as domestic conditions remain intact, which would help cushion possible downturns in the global market, the Bangko Sentral ng Pilipinas (BSP) said in deciding to hold off policy tweaks last month.
— BusinessWorld

‘Too much work kills’: Poe seeks probe as more Filipinos overworked
Alarmed by a recent report that more than 8 million Filipinos are overworked, Senator Grace Poe now wants the Senate to look into the problem and propose legislative measures to address it.
— Philippine Daily Inquirer

Career diplomat takes over at DFA
Career diplomat Enrique Manalo, whose stint in the foreign service spans nearly four decades, has been named acting foreign affairs chief, replacing Perfecto Yasay Jr., who had to vacate his post after being rejected by the Commission on Appointments (CA) for lying about his US citizenship.
— Philippine Star

Meralco rate up by P0.66/kWh in March
POWER distribution utility Manila Electric Co. (Meralco) announced on Thursday that the March electric bill for a typical residential household would increase by P0.66 per kilowatt-hour (kWh), bringing the overall rate to P9.67 per kWh from last month’s P9.00 per kWh.
— Manila Times

The Philippines’ oldest conglomerate goes back to school
The Ayala Corporation, the oldest conglomerate in the Philippines, has made a push to invest in businesses that could play a major role in shaping the country’s “social infrastructure,” the company’s chief executive said.
— CNBC

Feature photo: Asian Development Bank

The Philippines morning news roundup is published M-F by AEC News Today: Governance, not government; policies not politics.