Philippines Morning News For June 18

Philippines Morning News For June 18

Philippines morning newsBSP revises FDI projection upward to $9.2 B
The Philippines is seen booking over $9 billion worth of foreign direct investments (FDIs) this year amid the improving global perception of the country as an investment destination.
— Philippine Star

PAF earmarks P110.9-M for attack helicopter parts
The Philippine Air Force (PAF) is setting aside the sum of PHP110,917,000 for the acquisition of spare parts needed for the maintenance of its AgustaWestland AW-109 attack helicopters.
— Philippine News Agency

DTI seeks P4-B fund for MSMEs in 2019
The Department of Trade and Industry (DTI) is seeking to double its funding for micro, small and medium enterprises (MSMEs) to P4 billion next year, but exporters believe this is insufficient to cushion the impact of a shifting global value chain and a national policy on contractualization.
— Business Mirror

PHL to conduct road show in Japan for Samurai bonds, infra projects
Philippine economic managers are scheduled to visit Japan this week to discuss possible partnership prospects in infrastructure projects, as well as the planned issuance of the Samurai bonds.
— GMA News

Banks’ exposures to property sector up 15%
Banks’ lending to the real estate sector went up by 14.67 percent year-on-year to P1.915 trillion as of end-March 2018 from P1.670 trillion in the same period in 2017, data from the central bank show.
— Manila Bulletin

bsp unfazed by uptick in external debt to $73.2B
THE volatility in the value of global currencies pushed the Philippines’s debt stock against the rest of the world to increase in the first quarter of the year, but the Bangko Sentral ng Pilipinas (BSP) said the increase remains “marginal” compared to its level in end-2017.
— Business Mirror

Ease of setting up and closing down business operations
Last June 6, I attended the “Seminar on Protecting your Trademarks and Inventions Overseas” jointly organized by the Philippine Chamber of Commerce and Industry (PCCI) and the World Intellectual Property Organization (WIPO), held at the PCCI building in McKinley Hill, Taguig City.
— BusinessWorld Online

Manila airport authority denies return of bullet planting scam
Bosses at Manila’s airport have denied that the infamous ‘tanim-bala’ bullet planting scam has made an unwelcome return.
— Philippines Lifestyle

Government may need more time to pass BBL, Duterte says
Moros should give the government more time to thresh out their concerns if the proposed Bangsamoro Basic Law does not hurdle Congress, President Rodrigo Duterte said, as he stressed that he does not want to declare a war against fellow Filipinos.
— Philippine Star

PLDT eyes P200-million interconnection losses
DIGITAL services provider PLDT Inc. stands to lose roughly P200 million in revenues due to the proposed adjustment of interconnection fees, something its chairman described as a “mild impact” of the company’s topline.
— Business Mirror

Duterte vows to step down once federation is in place
Philippine President Rodrigo Duterte has reiterated his plan to step down from the presidency once his term ends and a federal form of administration is in place.
— Gulf News

BSP net income surges to P9.82B at end-March
THE BANGKO SENTRAL ng Pilipinas (BSP) saw its bottom line surge fivefold during the first quarter largely on the back of gains from currency trading.
— BusinessWorld Online

Philippines repositioning itself in ties with Taiwan: MECO official
The Philippines is positioning itself as Taiwan’s “gateway” to Southeast Asia and hopes to spur two-way economic and educational exchanges with Taiwan, an official with the Manila Economic and Cultural Office in Taipei (MECO) said recently.
— Focus Taiwan

Filipino jobseekers cry foul over Philippine job fair in Dubai
Filipino jobseekers who flocked to the job fair at the recent Philippine Independence Day celebration in Dubai took to social media to voice their frustration over the event, with many saying they were lured to stay on for hours just to boost the crowd numbers.
— Gulf News

New Zealand aids Phl in ease of doing business reform
New Zealand’s Creative HQ has clinched the project aimed at ramping up the Philippines’ efforts to significantly improve ease of doing business, the Department of Trade and Industry (DTI) said.
— Philippine Star

Lawmaker says President endangering PH security
Magdalo Rep. Gary Alejano on Saturday lashed back at high government officials, saying it was President Rodrigo Duterte himself and not he who was endangering the security of the country.
— Philippine Daily Inquirer

LTFRB mulling moratorium on new ride-hailing companies
THE LAND Transportation Franchising and Regulatory Board (LTFRB) is mulling a moratorium on the entry of more transport network companies (TNC), following the new department order tasking the agency to regulate the transportation segment.
— BusinessWorld Online

Marawi digitized database to help IDPs, says official
The man who oversees the national government’s public information infrastructure said efforts are underway to digitize information of those forced to flee their homes after a conflict.

Energy management to boost training programs
Energy management and automation firm Schneider Electric partnered with MFI Polytechnic Institute on Friday to improve its training experiences for vocational technical education programs.
— The Manila Times

DOLE looking into adaptability of ‘work from home’ scheme in PH
Last month, the House of Representatives approved a bill letting private sector employees to work from home.
— ABS-CBN (video)

Navy needs more technically-skilled people for new assets
With more modern assets arriving, the Philippine Navy (PN) said it is now in need of highly-qualified computer experts and engineers to man these platforms.
— Northbound Philippines

Ruling party offers to help boost ties between Philippines, North Korea
The ruling Partido Demokratiko Pilipino-Lakas ng Bayan has offered its services to the Department of Foreign Affairs to help improve the Philippines’ ties with North Korea.


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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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