Philippines Morning News For June 29

Philippines Morning News For June 29
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Philippines morning newsPhilippines plans $5 bln domestic borrowing in Q3
The Philippines’ Bureau of the Treasury said on Thursday it plans to raise as much as 270 billion pesos ($5 billion) from the sale of treasury bills and bonds in the third quarter, 17 percent less than it had programmed for the current quarter.
— Reuters

PHL one of 10 most dangerous nations for women exploited by traffickers — global poll
The Philippines is one of the world’s most dangerous countries for women exploited by human traffickers and forced to wed, work and sell sex, a global experts’ poll found on Tuesday.
— GMA News

Hot money trickles out mid-June
Bangko Sentral ng Pilipinas (BSP) data showed that more foreign investors pulled out of the country in mid-June.
— CNN Philippines

Government spending P319-million to replace aerobridges at Terminal 1 of Naia
The Manila International Aiport Authority said it will spend P319 million to modernize the aerobridges at the Ninoy Aquino International Airport’s Terminal 1.
— Manilastandard.net

BIR files P215.4-M tax raps vs. 9 bizmen
The Bureau of Internal Revenue (BIR) on Thursday filed separate criminal complaints before the Department of Justice against nine delinquent individual and corporate taxpayers amounting to PHP 215.4 million.
— Philippine News Agency

Taiwan extends visa-free privileges for PH, Thailand, Brunei until July 2019
Visitors from Thailand, Brunei, and the Philippines will have visa-free privileges for another year until July 31, 2019, according to a Taiwan official.
— Philippines Magazine

China won’t budge on sea claims
Chinese President Xi Jinping stiffly defended his country’s claim to disputed islands in the South China Sea after US Defense Secretary James Mattis questioned the militarization of the region in a day of meetings in Beijing on Wednesday with top officials.
— Inquirer.net

Thousands of street loiterers arrested in The Philippines
Police have arrested more than 10,000 people for loitering in the streets in the last two weeks, after President Rodrigo Duterte issued a directive to round up “idlers” in order to avoid “potential trouble for the public.”
— Aljazeera

Gov’t revenues grow 19% in January-May: DOF
National Government (NG) revenues rose by 19.0 percent in the first five months of 2018 as the first phase of TRAIN took effect and tax administration improvements were enhanced, almost doubling nominal GDP growth which registered 9.7 percent during the first quarter, the Department of Finance (DOF) reported in its latest economic bulletin.
— Philippine News Agency

Ayala Group to build $493M wind power plant in Vietnam
The Quang Binh provincial government of Vietnam has signed a memorandum of understanding with the Ayala Group for a 352-megawatts (MW) wind energy project in the region estimated to cost up to $493 million.
— Malaya

DOT pushes marketing amid decline in Taiwanese arrivals
THE Department of Tourism (DOT) will be stepping up its promotions and marketing programs in Taiwan, after recent tourism arrivals reports indicated some sluggishness, and a new public survey showed the Philippines as an unpopular destination.
— Business Mirror

Philippines to launch ‘Aadhaar’
The Union government’s Aadhaar programme may be facing legal hurdles in India for its ‘violation of privacy’ but it seems to have caught the fancy of the Philippines government.
— The New Indian Express

Philippines cautious on infra loans from China
The Philippines is exercising caution in accepting Chinese loans for infrastructure projects, a senior government official said Wednesday, after Sri Lanka gave up control over a port built on Chinese debt to reduce its liability.
— Panay News (media release)

Joma Sison: No more peace talks, better to oust Duterte
Communist Party of the Philippines (CPP) founder Jose Maria “Joma” Sison on Thursday, June 28, said the communist guerrillas “can no longer negotiate” with the Duterte administration.
— Philippines Magazine

AIIB wants to fund more Philippine projects
Beijing-based Asian Infrastructure Investment Bank expressed interest in investing more in the Philippines’ ‘Build, Build, Build’ infrastructure program amid the government’s sustained efforts to shift to investment-led growth.
— Manilastandard.net

Digital transformation to add $8B to economy
The Philippine Chamber of Commerce and Industry (PCCI) yesterday called on business to seize the benefits of digital transformation, saying this has the potential to boost economic growth for the country.
— Malaya

Russia to send first designated defense attaché to PH
Russian President Vladimir Putin on Wednesday has signed an order to send his country’s first designated defense attaché to the Philippines, the Russian Embassy in Manila announced Thursday.
— Northbound Philippines

Tax effort improves in 5 months
The share of the national government’s tax collections to the country’s gross domestic product (GDP) rose to 16.33 percent in the first five months, the Department of Finance (DOF) said yesterday.
— The Philippine Star

IDC: IT revenues in PHL slip 3.5% in 2017
WHILE the total outsourcing services revenues in the Philippines grew by 8.2 percent to $300 million in 2017, the information-technology (IT) outsourcing market in the Philippines saw earnings slip by 3.5 percent last year due to the lack of development in local tech deployment and skills.
— Business Mirror

GT Capital buying $200-M shares in bullish Toyota
Ty family-led conglomerate GT Capital Holdings is set to invest up to $200 million in shares of Japanese powerhouse Toyota Motor Corp., citing attractive valuation of the world’s largest automotive manufacturer.
— Philippine Daily Inquirer

Alien work permits suspended for Boracay employment
THE Department of Labor and Employment (DoLE) has suspended the issuance of alien employment permits (AEP) for those intending to work on Boracay in the wake of the resort island’s six-month rehabilitation.
— BusinessWorld Online

MMDA to launch mobile app on traffic and flood updates
The Metropolitan Manila Development Authority (MMDA) is eyeing to develop a mobile app that will provide real-time traffic updates, flood alerts and information on disaster and emergency preparedness.
— Business Mirror

Leptospirosis deaths hit 99 — DOH
The Department of Health (DOH) has recorded a total of 99 deaths out of 1,030 leptospirosis cases in various government hospitals nationwide from Jan. 1 to June 9, Health Secretary Francisco Duque III said yesterday, as cases of the flood-borne disease continue to soar nationwide.
— The Philippine Star

Public warned against new scam using fake BSP documents
The Bangko Sentral ng Pilipinas yesterday warned the public against unscrupulous parties using fraudulent loan documents, deposit certificates, fund transfer documents or other commercial papers allegedly issued, secured or guaranteed by the central bank.
— Philippine Daily Inquirer

State auditors flag Teo’s P2.7-M duty-free spree
THE Commission on Audit (CoA) has told state-owned Duty Free Philippines Corp. (DFPC) to bill the Department of Tourism (DoT) for P2.71 million in purchases of luxury goods, beddings, chocolates and other items.
— The Manila Times

High-sugar product manufacturers buck ‘warning’ mark on labels
The sugar sweetened beverage industry, which has been reeling from the impact of TRAIN 1, has opposed to putting a “warning” or “caution” mark for high-sugar content products, but agreed that sugar content in the label will be prominently displayed in the front of the product.
— Manila Bulletin

Finance dep’t sees GDP targets within reach due to revenue, spending growth
GOVERNMENT revenue and disbursements as a share of the economy rose in the five months to May, the Department of Finance (DoF) said, improving the prospects for achieving economic growth targets this year.
— BusinessWorld Online

Jeepney operators to receive P5,000 fuel vouchers in July: LTFRB
Some 179,000 jeepney operators will start receiving their P5,000 fuel vouchers each as early as next week to help them cope with rising pump prices, a transport official said Thursday.
— ABS-CBN

Farmers still hungry over 30 years of agrarian reform
With barely enough rest and a rumbling stomach, 68-year-old Galbert Jamora gathered all his remaining energy to march with fellow farmers around the Quezon City Memorial Circle.
— 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.

 

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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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