Philippines Morning News For April 24

Philippines is 3rd top remittance receiving country in the world
The Philippines is the third largest remittance receiving nation in the world in 2017, according to a World Bank report Monday.
— Philippine Star

DTI eyes P300M for Boracay businesses
The Department of Trade and Industry (DTI) is seeking P300 million to provide other means of livelihood for businesses and workers on Boracay island during its six-month closure, which begins on Thursday.
— The Manila Times

PH to limit mine areas
The Philippines is planning to limit the amount of land that miners can develop at any one time to boost environmental rehabilitation, a move that miners say may cut output of nickel ore in last year’s top supplier to China.
— Malaya

Palace finds US State Dep’t report inconsistent with Trump remark
Malacanang on Monday said the report of the United States (US) State Department is not consistent with the stand of President Donald Trump who praised the campaign against illegal drugs of President Rodrigo Duterte.
— Philippine News Agency

This ain’t a fluke: Palace assures economic growth will be sustained
Malacañang on Monday assured that the country’s robust economic growth will be backed up by solid macroeconomic fundamentals and sustained investments in infrastructure and social services.
— Politiko (blog)

Philippine unicorn Revolution Precrafted bags $300m Caribbean deal
Philippine-based unicorn startup Revolution Precrafted has sealed a $300-million exclusive deal in the Caribbean for the supply of its prefabricated units.
— Deal Street Asia

URI will try to improve fisheries management in Philippines
The University of Rhode Island says it will use a $25 million federal grant to help improve the Philippines’ struggling fishing industry.
— Longview News-Journal

AirAsia launches Manila-Bangkok flights
BANGKOK, Thailand — Filipinos can now fly to Bangkok from Manila via AirAsia.
— ABS-CBN

Asian Development Bank and the Philippines: Fact Sheet
ADB’s support to the Philippines focuses on three main pillars: accelerating infrastructure investments, promoting local economic development, and increasing social investments.
— Asian Development Bank

CA junks GSIS’s plea on sale of P10-million sale of NPC mural
THE Court of Appeals (CA) has denied the plea of the Government Service Insurance System (GSIS) for the reversal of its earlier decision dismissing the estafa complaint it filed against former board officers and members of the National Press Club (NPC) in connection with the 2007 sale of a Vicente Manansala mural to a private gallery for P10 million.
— Business Mirror

ABS-CBN shutters global remittance business
ABS-CBN Corp. on Monday said it is shutting down its remittance businesses in the United States, Canada and United Kingdom, amid “significant losses.”
— BusinessWorld Online

Davao fisherfolk get P2-m Pamana fund to enhance seaweed industry
The City Government of Davao has received P2 million from the Department of Agriculture to aid the needs of fisherfolk in the city through the Payapa at Masaganang Pamayanan or Pamana program of the national government.
— Manila Standard

Security Bank awarded ‘The best retail bank in the Philippines’ by the Asian Banker
Security Bank (SBC) was recognized by The Asian Banker as Philippines’ Best Retail Bank at the recently concluded International Excellence in Retail Financial Services 2018 Awards ceremony held in Kuala Lumpur, Malaysia, the first time the bank bested the country’s larger financial institutions that used to dominate the Retail banking category.
— Manila Bulletin

500 Grab drivers suspended, banned amid complaints of commuters
Some 500 drivers of Grab in Metro Manila were suspended or banned by the app-based transport network company (TNC) in the wake of mounting complaints against its picky drivers.
— Philippine Daily Inquirer

Philippine power dispute heads to ICC in Singapore
As the ICC Court announces a new case management office in Singapore, it has emerged that a dispute relating to the Philippines’ national power grid has been submitted to ICC arbitration in the city-state.
— Global Arbitration Review

Local pharma sector to become a P200-B industry by 2022: BMI Research
The Philippine pharmaceutical sector is expected to grow into a PHP198.9-billion industry by the year 2022 from its current value of PHP162.3 billion, a unit of Fitch Group forecasted.
— Philippine News Agency

To save money, Duterte to take 8-seater plane to Asean summit in Singapore
President Rodrigo Duterte wants to save money and will take an 8-seater plane to Singapore instead of the Philippine Airlines Charter Flight PR001 as he attends the 32nd Association of Southeast Asian Nations (Asean) this April.
— Asia One

‘New rebel group may rise if gov’t fails to heed concerns in Marawi’
Another rebel group may rise if the national government fails to heed the concerns of displaced families in Marawi City, according to an expert.
— ABS-CBN

Duterte urges Sison to come home for peace talks
President Rodrigo Duterte has urged the Communist Party of the Philippines and its armed and political wings, the New People’s Army and the National Democratic Front to seize the opportunity of the government’s 60-day window to resume peace negotiations, The Manila Times Online reported on Monday (April 23).
— Thai PBS

Lenders, e-money issuers set up InstaPay platform
BANKS and e-money issuers have set up a new clearing house for real-time fund transfers yesterday, with seven lenders now able to process interbank transactions in a matter of seconds.
— BusinessWorld Online

Lawmaker calls for privatization of Duty Free Philippines
A lawmaker in the House of Representatives is calling for the privatization of Duty Free Philippines, saying the government firm can even be considered a competitor of local businesses.
— Philippine News Agency

Top 10 e-commerce sites in the Philippines 2018
With a dynamic economy and a large population proficient with digital technologies, the Philippines is a fast-growing market for e-commerce in Southeast Asia.
— Asean Up

Soldiers to get free MRT rides starting April 25
Active personnel of the Armed Forces of the Philippines (AFP) can get free rides at the Metro Rail Transit Line 3 (MRT3), starting Wednesday, April 25.
— Rappler

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.

Philippines Morning News For April 24 added by Stella-maris Ewudolu on April 24, 2018
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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.