Philippines Morning News Roundup For March 1

Philippines Morning News Roundup For March 1
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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 morning news


Govt allocating P7.89T for 3-year infra buildup
SOME 5,215 projects have been identified for public funding under the P7.89-trillion Three-year Rolling Infrastructure Program (TRIP) from 2018 to 2020, data obtained by the BusinessMirror from the National Economic and Development Authority (Neda) showed.
Business Mirror

Foreign investors turn more cautious after Duterte’s tirades
The Philippines needs to attract more foreign direct investments to achieve the gross domestic product growth target of 7 percent to 8 percent this year, DBS Bank of Singapore said Tuesday.
The Standard 

February inflation likely exceeded 3%, an over 2-year high — Tetangco
A combination of higher minimum fare in public utility vehicles and increases in electricity as well as oil prices likely pushed inflation to its highest level in over two years, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said Monday.
Philippine Daily Inquirer 

Gov’t debt stock hit record high in January
The government’s outstanding debt hit P6.115 trillion, a record high, in January as the government sold more debt paper to finance infrastructure expenditures.
Philippine Daily Inquirer 

PH banks seen to sustain loan growth
The country’s biggest commercial banks are expected to sustain robust loan growth in the next two years amid an expanding economy, although global debt watcher Fitch Ratings warned of a potential overheating in real estate lending.
Philippine Daily Inquirer 

China-Philippine economic ties stable
The economic relationship between China and the Philippines is expected to post stable development, given increasing Chinese investment in the Philippines under the One Belt and One Road initiative and rapid bilateral trade growth driven by free trade agreements.
Global Times 

Philippines likely to continue with strong economic growth in near-term, says ANZ
The Philippines’ robust economic growth is expected to sustain, according to an ANZ research report. However, it also weakens the external accounts. The Philippine authorities have taken a benign view of the situation as the decline in current account is mainly because of imports of capital goods.
Econo Times 

PAL prepares for entry of strategic investor
The consolidation of taipan Lucio Tan’s Philippine Airlines under listed PAL Holdings Inc.— a key step before a new strategic investor can enter PAL—has been given the go-ahead by the Philippine Competition Commission (PCC).
Philippine Daily Inquirer 

Duterte signs Paris climate deal
Despite his misgivings, President Rodrigo Duterte has signed the Paris Agreement on Climate Change.

Philippine president apologizes for failing to rescue German hostage
Philippine President Rodrigo Dutere on Tuesday apologized to the German government and the family of Juergen Kantner after the Philippines failed to save the German hostage from being beheaded by the Abu Sayyaf group.
Global Times 

Plan to tax lottery winnings opposed
State-run Philippine Charity Sweepstakes Office (PCSO) is opposing the Department of Finance’s proposal to tax lottery winnings, saying revenues intended for health and other services will be slashed once bettors get deterred by taxed winnings.
— Philippine Daily Inquirer 

Rice sector awaits government help
THE government announced last week it has decided to extend an executive order (EO) that reduces the tariffs on raw materials used for making processed-meat products, such as offal and mechanically deboned meat (MDM).
Business Mirror 

SMC Philippines mulls airline industry comeback
Filipino food, beverage and packaging multinational San Miguel Corporation (SMC) is considering returning to the airline business, CAPA has reported.

Why miners are not ready for Gina Lopez
Mining industry players did not invest enough in building goodwill. And this explains why they were not prepared for someone like Gina Lopez.

Peso weakens to fresh over 10-year low of 50.27:$1
“Uncertainty” in local politics coupled with global markets’ anticipation of US President Donald J. Trump’s first speech before the US Congress pulled the peso to a fresh over 10-year low of 50.27:$1 on Monday.
Philippine Daily Inquirer 

Duterte fires campaign spokesman as NIA chief
The President mentions his decision to fire Peter Laviña in a recent meeting with labor groups.

Presidential immunity: a catch-22
The public admission of a confessed leader of the much-storied Davao Death Squad or DDS raises the specter of criminal prosecution of an incumbent president.
Philippine Daily Inquirer 

Rule of law, not rule by one
Because of the complexity of the physical world, the sound management of the environment has always required a balancing act, the involvement and cooperation of people and a whole range of stakeholders. This means a brand of environmental governance that sees the forest in addition to the trees, passionate but not discriminatory.
Philippine Daily Inquirer 

PHL’s ‘Smart Cities’ dream: Too slow?
INTERCONNECTION is important in building smart cities. This means that each component of a city should “communicate” with one another in order to make life easier for its population.
Business Mirror 

P125-B ecozone in Quezon awaiting Palace proclamation
The application to convert more than 1,500 hectares in Quezon province into an economic zone was approved by the Philippine Economic Zone Authority (PEZA) in January.
BusinessWorld Online 



Feature photo: Jose Rodriguez T. Señase



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




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