Philippines Morning News For May 5

Philippines Morning News For May 5
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Philippines morning news

Philippines is top economic performer in region – Asean research
The Philippines is “the top economic performer” in the region and the Duterte administration does not pose political risks that might make the country less attractive for investments, according to the ASEAN +3 Macroeconomic Research Office (AMRO).
— The Philippine Star

Philippine judge warns inaction over South China Sea dispute with Beijing is ‘unforgivable’
The warning was clearly directed at the Philippine president who, as Asean chair, moved to have the landmark tribunal award won by the Philippines against China last year off the agenda at last week’s summit in Manila
— South China Morning Post

PHL remains as ‘darling’ of economists in Asean
The Philippines continues to be the “belle of the ball” for many analysts, including the Asean+3 Macroeconomic Research Office (Amro), which projected the country’s economic growth to remain robust until next year.
— Business Mirror

Davao businessman Uy’s Udenna gets permit for $300-million Cebu casino
PHILIPPINE Amusement and Gaming Corp. (PAGCOR) has awarded a gaming license to a group led by Davao-based businessman Dennis A. Uy for the development of the country’s first integrated resort and casino outside Metro Manila seen to further improve tourism and expand the gaming market.
— BusinessWorld Online

Diesel tax, fuel levy hike to take effect in 2018
If passed by Congress, the tax on diesel and higher taxes on other oil products that members of the House committee on ways and means approved on Wednesday will take effect next year, Albay Rep. Joey Salceda said yesterday.
— The Philippine Star

DOH says 6M Filipinos ‘walking time bombs’
About 12 million Filipinos are hypertensive and half of them are “walking time bombs” who could succumb to a heart attack or stroke because they are unaware of their condition. To raise greater awareness of hypertension, the Department of Health (DOH) on Thursday launched a monthlong campaign to screen Filipinos for abnormal high blood pressure.

DOJ starts probe of P9.56-B Mighty tax case
The Department of Justice (DOJ) on Thursday started its preliminary investigation of the P9.56-billion tax evasion case the Bureau of Internal Revenue (BIR) filed against tobacco firm Mighty Corp.

Philippine Senate passes mental health bill
The Philippine Senate passed on May 2 a national mental health policy bill, the first of its kind in the country.
— UCA News

Unilever Philippines eyes Asian halal growth with new factory
Unilever Philippines will begin exporting halal meat to markets in southeast Asia, after obtaining certification for a new factory south of the country’s capital, Manila.
— FoodBev Media

Intellectual property, affordable medicine, and universal health care
MANILA IS SET to host the 18th round of the multilateral trade deal — the Regional Comprehensive Economic Partnership (RCEP) that encompasses 50% of the global population.
— BusinessWorld Online

Central bank sees weaker peso on Fed
PHILIPPINE POLICY makers have no reason to adjust borrowing rates too soon despite hawkish comments from the Federal Reserve, central bank officials said yesterday even as they flagged the likelihood of a weaker peso given optimism over the US economy.
— BusinessWorld Online

Inflation steady at 3.4% in April
The Philippine Statistics Authority (PSA) said that headline inflation last April held at 3.4%, same rate recorded in March, but faster than the 1.1% clocked in April 2016.
— BusinessWorld Online

PHL abaca export jumped 13.5% to $130.44 million in 2016
The country’s earnings from outbound shipments of abaca in 2016 rose 13.5 percent to $130.44 million, from $114.792 million in 2015, data from the Philippine Fiber Development Authority (PhilFida) showed.
— Business Mirror

DOTr keen on removing Davao airport rehab from PPP pipeline
With investments still pouring into the hometown of President Rodrigo Duterte, the government is keen on scrapping the auction for the rehabilitation, operations, and maintenance of the Davao International Airport, which was initially pegged at P40.57 billion.
— Rappler

Tax bill axes P90B in VAT exemptions
The House Committee on Ways and Means removed P90 billion worth of Value Added Tax (VAT) exemptions under 79 special laws and gave up P6 billion of potential government revenues from taxes on luxury cars in approving the Duterte administration’s tax reform bill dubbed as Tax Reform for Acceleration and Inclusion (Train).
— The Manila Times

PH delegation to present real state of human rights in Switzerland
A 16-member Philippine delegation left for Geneva, Switzerland, Thursday morning on a mission to present the real state of human rights in the country during the Universal Periodic Review (UPR) slated Monday, May 8.
— Manila Bulletin

Philippine justice writes online book on China’s sea claims
A Philippine Supreme Court justice launched a book on Thursday (May 5) that questions China’s historic claims to most of the South China Sea and said he will distribute it online to try to overcome China’s censorship and reach its people.
— Today Online

Why Did China’s Warships Visit the Philippines?
A closer look at the significance of the goodwill visit within the context of Sino-Philippine relations.
— The Diplomat


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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