Philippines Morning News For April 13

Philippines Morning News For April 13
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Philippines morning newsWorld Bank sees 6.7% PH growth
The World Bank sees the Philippine economy growing by 6.7 percent this year and next, similar to the pace of expansion last year, amid expectations of strong growth prospects across the region.
— Philippine Daily Inquirer

China lends P3.14B for Chico river irrigation project
The Philippine and Chinese governments have signed the P3.135-billion loan agreement for the Chico River Pump Irrigation Project, the first flagship infrastructure project to be financed by China under the Duterte administration’s ambitious “Build, Build, Build” program.
— Philippine Daily Inquirer

Metrobank successfully completes P60-billion stock rights offer
Metropolitan Bank and Trust Co. (Metrobank) announced the results of its P60-billion stock rights offer after the offer period closed on April 4.
— Business Mirror

Automation to increase jobs but more training needed — ADB
THE ASIAN Development Bank (ADB) has allayed concerns over fears of job losses as a result of the so-called “fourth industrial revolution,” but added that economies need to offer specialized training to meet the demand for higher-skilled jobs.
— BusinessWorld Online

Duterte will travel to Kuwait for signing labor pact to protect Filipino workers
Philippine President Rodrigo Duterte said Thursday he will travel to Kuwait for the signing of the agreement that will guarantee protection to overseas Filipino workers (OFW), reports

Duterte back in PH with $9 billion China deals
President Rodrigo Duterte arrived in Davao City Friday dawn following his four-day visit in China and Hong Kong.

‘Putting politics before progress’: Industry boss slams anti-GM golden rice campaigners in the Philippines
Philippine activists opposing the cultivation of Golden Rice — which is biofortified to address vitamin A deficiency — have been accused of ‘shameful’ behaviour in trying to halt a ‘life-changing’ innovation.
— Food Navigator Asia

IS recruiting in PH, Southeast Asia to wage local acts of terror, says State Dept official
THE Islamic State (IS) is continuously recruiting new members in Southeast Asia, including the Philippines, but not to get them to join the fight in Syria and in Iraq but to launch acts of terrorism in their respective countries, an official of the US State Department said.
— The Manila Times

3 DOTr agencies to remit P11 billion dividends
Three agencies under the Department of Transportation (DOTr) will remit P11 billion in dividends to the state coffers today.
— Philippine Star

Unisys taps PesoPay to facilitate online payments for Philippine Statistics Authority (PSA)
Global information technology company Unisys Corporation has selected PesoPay, a leading payment service provider, to enable online payments on as part the Philippine Statistics Authority’s modernization program to improve the delivery of public services to Filipino citizens residing here and abroad.
— Manila Bulletin

Sales of cars, trucks slumped 23% in March
Car and truck manufacturers saw their biggest decline in sales so far in 2018, diving deep on the third month since the TRAIN law took effect.
— Philippine Daily Inquirer

SFA Semicon Philippines gets $30-million loan from parent
SFA Semicon Philippines Corp. (SSPC) obtained a loan from its parent company to fund capital expenditures and refinance debt.
— BusinessWorld Online

Philippines smartphone shipments fall for first time
Smartphone shipments in the Philippines have declined 7% to approximately 15 million units in 2017, according to IDC.

PSEi bucks Syria fears, returns to 8,000 territory
THE stock market bucked a regional decline to return to the 8,000 level on Thursday, with analysts pointing to the possibility of further gains ahead.
— The Manila Times

ALI’s Prime Orion to build 2 industrial parks
AYALA Land Inc.’s (ALI) logistics and industrial estate arm Prime Orion Philippines, Inc. (POPI) is set to launch two industrial parks this year and the next to capitalize on the growing manufacturing and logistics sectors.
— The Manila Times

PNB Savings hikes profit 51% in 2017
PNB Savings Bank posted a net income of P459 million in 2017, reflecting a hefty increase of 51 percent against its P305 million registered in 2016.
— Philippine Star

Prices of pad papers, notebooks increase by at least 15%
Prices of school supplies like pad papers and notebooks have increased by 15 to 20 percent due to the increase in the prices of imported paper in the world market.
— ABS-CBN (video)

DOE may snatch ERC’s ‘licensing role’ on retail power suppliers
With the never-ending dilemmas that the Energy Regulatory Commission (ERC) had been getting enmeshed with, the Department of Energy (DOE) is now intending to take hold of the former’s role as a licensing entity for retail electricity suppliers (RES) that shall be servicing the needs of contestable customers or those end-users that can already exercise power of choice on their electricity service preference.
— Manila Bulletin

DBS launches online remittance service for non-customers
Users can send money to Australia, Hong Kong, India, Indonesia, Malaysia, Philippines, the UK, and the US.
— Singapore Business Review

IS threat high in PH–study
The jihadi movement led by the Islamic State (IS) group is seen as posing a sustained threat to Southeast Asia, and the risk remains “high” in the Philippines, according to global professional services company Aon.
— Philippine Daily Inquirer

US carrier docks in Manila after South China Sea patrol
US aircraft carrier Theodore Roosevelt docked at the mouth of Manila Bay on Tuesday, PhilStar Global reports, ahead of visits from Australian and Japanese warships.
— Asia Times

Peso weakens anew amid rising tensions in US, China, Russia
THE PESO weakened anew against the dollar on Thursday as it traded within range due to continued geopolitical tensions abroad.
— BusinessWorld Online

Philippines’ Duterte makes public apology for 2010 HK tourists killing
Philippine President Rodrigo Duterte made a public apology for the August 2010 killing of eight Hong Kong tourists during a bus hostage incident in Manila, a gesture which his predecessor had declined to make.
— Reuters

WHO Rejects Reports Of New HIV Strain In The Philippines
UNAIDS and WHO have rejected international media reports claiming that a drug-resistant HIV strain has surfaced in the Philippines.
— Asian Scientist Magazine


Feature photo Brian Evans


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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