Philippines Morning News For May 19

Philippines Morning News For May 19
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Philippines morning news

Philippines’ Duterte bans smoking in public, and asks citizens to help
President Rodrigo Duterte, who has overseen a deadly campaign to eradicate drug use in the Philippines, has now ordered a strict public ban on smoking and called on citizens to help local authorities apprehend smokers.
– The Straits Times

BIR urges DOJ to indict top officials of Mighty Corp
The Bureau of Internal Revenue (BIR) on Thursday urged the Department of Justice (DOJ) to order the indictment of top officials of homegrown cigarette manufacturer Mighty Corp. in the P9.6-billion tax evasion case it filed against them.
– Philippine Daily Inquirer

PH, Russia to sign defense deal during Duterte visit
The Philippines and Russia will sign a defense cooperation agreement and other bilateral deals when President Rodrigo Duterte goes on a 5-day official visit to the country next week.
– Rappler

Economic expansion slowed in Q1
The first-quarter GDP growth was next to China’s 6.9 percent and surpassed the rate of growth in most of the emerging Asian economies, Socioeconomic Planning Secretary Ernesto M. Pernia said in a press conference.
– Philippine Daily Inquirer

Tax reform to upgrade Philippine credit rating – Diokno
The Philippines could potentially enjoy a credit rating upgrade should the government implement its tax reform program, Budget Secretary Benjamin Diokno said yesterday.
– Philstar Global

PH posted $51.49-M net inflow of hot money in April on bullish investor sentiment
Investors’ anticipation of sustained strong economic growth in the first quarter attracted a net inflow of foreign portfolio investment or hot money worth $51.49 million in April, the Bangko Sentral ng Pilipinas (BSP) said.
– Philippine Daily Inquirer

Lower Q1 growth dampens stock trades
Share prices tumbled yesterday or lower-than-expected first quarter economic growth and jitters over the political environment in the US, analysts said.
– Philstar Global

Is China unstoppable in the South China Sea?
Manila and Beijing are to hold direct talks on the South China Sea for the first time Friday, a move that may strengthen Beijing’s hand in the festering dispute.

Lower consumption ‘main source of disappointment’
The country’s first quarter year-on-year economic growth of 6.4 percent disappointed financial markets as this was below the consensus forecast of at least 6.7 percent expansion.
– Philippine Daily Inquirer

Slower GDP growth, US political jitters drag market down
The local stock barometer slipped yesterday on rising US political jitters and slower-than-expected first quarter domestic economic growth alongside the liquidity-siphoning effect of two local initial public offerings in the market.
– Philippine Daily Inquirer

Japan, New Zealand underscore arbitral ruling on South China Sea, angering China
Japan Prime Minister Shinzo Abe and New Zealand Prime Minister Bill English have expressed concern over the disputed South China Sea following their meeting in Tokyo on Wednesday.
– Philstar Global

Senior State Department official to visit Philippines, China next week
A senior State Department official in charge of Asian affairs will travel to the Philippines and China next week, the department announced Thursday.
– The Korea Herald

Business group backs Naia, Clark redevelopment
The Management Association of the Philippines (MAP) has called for a holistic solution to Greater Manila Area’s clamor for a more modern, spacious and efficient aviation system, backing the redevelopment of both the Ninoy Aquino International Airport (Naia) and Clark International Airport (CIA).
– Philippine Daily Inquirer

Demand for shares of Eagle Cement surges
Cement-maker Eagle Cement Corp.—offering a new infrastructure spending play and a better growth story compared to its peers—has seen brisk demand for its P8.62-billion initial public offering (IPO), its underwriters said.
– Philippine Daily Inquirer


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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