Philippines Morning News For June 13

Philippines Morning News For June 13
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Philippines morning newsADB approves $350 million additional SME trade financing
The Asian Development Bank (ADB) has approved $350 million in additional funding to expand the scope of a program that bridges gaps in trade financing for small and medium-sized enterprises (SMEs).
— Philippine Star

RTWPB 6 hikes West Visayas wages by as much as P41.50
The Regional Tripartite Wages and Productivity Board (RTWPB) of Western Visayas has approved an increase of P13.50 to P41.50 in the daily minimum wage of private-sector workers in the region.
— Business Mirror

Net exports to hit $120B in 2022
Net exports of Philippine goods and services are expected to hit $122 billion to $130 billion by 2022, growing at least 8 to 9 percent compounded annually over the next four years to achieve the low-end of the target.
— Malaya

City turns over P3.3-M vehicles for food aid
THE city Government of Davao turned over P3.3 million worth of vehicles to barangays for faster delivery of food assistance to communities, especially in times of disasters and emergencies.
— Sun Star

1.29K jobseekers join Independence Day fair in Luneta
Despite the continuous rains, more than 1,200 applicants registered for the 2018 Independence Day job and business fair at the Luneta Park here, the Department of Labor and Employment said on Tuesday.
— Philippine News Agency

PH ranks 3rd in international math contest
The Philippine team won third place at the International Regions Mathematics League (IRML) in Las Vegas in early June.
— Rappler

Female OFWs send more money than males
DESPITE the gender pay gap, Filipino women working overseas send more funds for their children’s education than their male counterparts, a United Kingdom-based digital money transer company said on Monday.
— The Manila Times

Duterte wants Boracay residents to get land so they can sell it to big firms
Once rehabilitation of Boracay Island is complete, President Rodrigo Duterte wants to distribute the land to the locals so that they can sell it to big businesses if they wish.
— Philippine Daily Inquirer

Thailand ready to supply PH sugar requirements
Thailand, the world’s second largest sugar exporter, is hoping to bag most of the deals to supply the Philippines with cheaper, imported sugar.
— Manila Bulletin

TESDA allots 3K scholarship slots for MILF, MNLF members
The Technical Education and Skills Development Authority (TESDA) is allotting 3,000 scholarship slots for members of the Moro Islamic Liberation Front (MILF) and the Moro National Liberation Front (MNLF).
— Philippine News Agency

Biggest AI start-up steps up fund-raising to $1.2 billion
SenseTime Group Ltd. has raised $620 million at a valuation of more than $4.5 billion just months after scoring a similar amount from investors led by Alibaba Group Holding Ltd. and Singapore’s state investment firm.
— Business Mirror

Dole turns over P2 million livelihood at Kalayaan activity in Bacolod
ASIDE from the annual job fair, the Department of Labor and Employment (Dole) in Western Visayas is turning over today P2 million worth of livelihood projects to various beneficiaries in the province.
— Sun Star

Philippines women’s march tells Duterte ‘enough’
More than 1,000 women marched in Manila on Tuesday to tell President Rodrigo Duterte they have had enough of what they termed his repeated misogynistic words and deeds.
— Arab Times

Flood damage would double without coral reefs; PHL at risk —study
oss of coral reefs around the world would double the damage from coastal flooding, and triple the destruction caused by storm surges, researchers said Tuesday.
— GMA News

Government critics asked government to scrap Train Law​
Progressive groups here ​mounted a petition-signing around the oldest ​public market here to ask govenment to scrap its Tax Reform for Acceleration and Inclusion (TRAIN) Law​, which they described as anti-people.
— Davao Today

Gov’t eyes imports to stabilize prices
The country’s agriculture chief has issued a warning to “market speculators” to stop using the new tax law to increase prices in the market, adding that he would not hesitate to resort to importation to stabilize prices.
— Philippine Daily Inquirer

P23.5B for CALAX seen ready by end-July
THE Metro Pacific group is hoping to close the fund-raising for the construction of the Cavite-Laguna Expressway (CALAX) by next month.
— BusinessWorld Online

Solon allays foreign debt trap fears amid ‘BBB’ infra build up
PARTY-LIST Rep. Lito Atienza of Buhay on Independence Day allayed fears that the Philippines might get entangled in a foreign debt trap, as the Duterte administration embarks on an P8-trillion economic infrastructure-spending program dubbed as “Build, Build, Build” (BBB) program to make up for a massive backlog.
— Business Mirror

The Philippines: From independence to economic powerhouse
Emilio Aguinaldo was only 19-years-old when he issued a decree on 12 June, 1898 declaring the independence of the Philippines from Spain.
— The Asean Post

DTI expects exports to recover in 2nd quarter
The Department of Trade and Industry (DTI) expects exports to recover in the second quarter of the year, even though April marked the fastest decline in 2018 so far.
— Philippine Daily Inquirer

BSP poised to liberalize foreign exchange rules on investments
The Bangko Sentral ng Pilipinas plans to liberalize further the foreign exchange rules on investments in a bid to attract more foreign investor and help spur economic growth.

PH should be ready for global trade war
A global trade war could provide some upsides for the Philippines but the country will still need to prepare for the fallout, a government official said.
— The Manila Times

BSP sets deadline for reporting project finance exposures of banks
The Bangko Sentral ng Pilipinas (BSP) is directing banks to submit the enhanced reportorial requirements for project finance and real estate exposures by July 31 and October 19 this year as a pilot run.
— Manila Bulletin

78% of Pinoys satisfied with democracy
About 78 percent of adult Filipinos are satisfied with the way democracy works in the country, while 60 percent prefer democracy to other forms of government, according to Social Weather Stations (SWS) surveys, the results of which were released Tuesday, Independence Day.
— Philippines Magazine

China to punish Coast Guard members in spat with PH fishermen – envoy
Chinese Ambassador to the Philippines Zhao Jianhua assured Tuesday that members of his country’s coast guard who take some of the catch of Filipino fishermen around the disputed Scarborough Shoal would be punished.
— CNN Philippines

Japan still PH’s top ODA source
Japan remains as the top fund source of official development assistance (ODA) to the Philippines, accounting for at least 37.14 percent of ODA loans and grants in 2017, data from the National Economic and Development Authority (NEDA) showed.
— Malaya

Applauding two new business-friendly laws
Hopefully, President Duterte would sign into law the Secured Transactions Systems bill soon enough to be able to trumpet two business-friendly laws during the forthcoming State of the Nation (Sona) in July.
— Business Mirror


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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