Philippines Morning News For June 5

Philippines Morning News For June 5

Philippines morning newsRoque: Duterte’s South Korea visit to reap ₱4.9B in investments
President Rodrigo Duterte’s trip to South Korea could prove fruitful, as billions of pesos in investments are expected to arrive.
— CNN Philippines

P1.9B budget sails through PB
THE Cebu Provincial Board approved a P1.9-billion supplemental budget, the Capitol’s first for this year, of which nearly 80 percent will be for a 20-storey new building.
— Sun Star

KILLER WASTE Shocking images show mountains of plastic and rubbish polluting rivers in India, Philippines and Vietnam
SHOCKING photos of polluted rivers filled with rubbish in India, Philippines and Vietnam have emerged ahead of the annual World Environment Day tomorrow.
— The Sun

Workers dun BIR for P20-billion refund
The country’s biggest labor federation on Monday demanded the return of P20 billion that they say was illegally collected by the Bureau of Internal Revenue from minimum wage earners for seven months in 2008.

Full award on 91-day, 6-month Tbills; rate on 1-yr tenor capped
The Bureau of the Treasury (BTr) made a full award on the 91-day and six-month treasury bills yesterday amid healthy demand for the government IOUs, while it capped the rate for the 364-day securities, opting for a partial award instead.
— Malaya

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Binays, Makati execs told to return P2.2B
The Commission on Audit (CoA) has ordered former Makati Mayors Jejomar Binay and Jejomar Erwin “Junjun” Binay Sr. as well as officials of Makati City to return to government coffers the P2.29 billion used to construct the Makati City Hall Parking Building 2.
— The Manila Times

Amazon firm opts to hold 1st cloud computing training event in PH
Recognizing Filipino talents, global cloud computing firm Amazon Web Services (AWS) launched its first cloud computing skills training in the Philippines on Monday for free.
— Philippine News Agency

Phinma cement unit obtains P875-million loan
PHINMA CORP. on Monday said its cement trading unit obtained a P875-million loan from Security Bank.
— BusinessWorld Online

Philippine leader Rodrigo Duterte draws fire for soliciting on-stage kiss
The often controversial leader of the Philippines, President Rodrigo Duterte, has again drawn condemnation for his treatment of women by kissing an overseas worker from his own country — on stage and in front of dozens of video cameras — during a visit to South Korea.
— CBS News

Bataan to combat suicide, drowning incidents
Alarmed by the increasing number of suicide and drowning incidents in Bataan, Governor Albert Raymond Garcia bared his strategies to further provide a positive and safe community for his constituents.
— Philippine Information Agency

Philippine Companies Start Feeling The Pinch From Rising Prices
It’s not only consumers who are taking a hit from rising prices in the Philippines. Companies are feeling the pressure as higher oil prices and a weak currency boost their costs.
— Bloomberg

Philippines Mulls Blockchain for Tax Collection, Business Improvement
The Philippine finance department is weighing the use of blockchain applications in a number of areas, among them tax payments and red-tape reduction.
— Cryptovest

BSP approves liquidity cover for big banks
he Bangko Sentral ng Pilipinas (BSP) is adopting the net stable funding ratio (NSFR) for the country’s large banks to further strengthen its liquidity-related stress response and will begin an observation period on July 1.
— Manila Bulletin

ERC urged to freeze FiT-All rate hike
THE Laban Konsyumer Inc. (LKI) is urging the Energy Regulatory Commission (ERC) to halt the collection of additional feed-in-tariff allowance (FiT-All) of P0.0733 per kilowatt-hour (kWh).
— Business Mirror

PHL helps spur ASEAN factory activity
THE PHILIPPINES stayed second in terms of manufacturing performance in the Association of Southeast Asian Nations (ASEAN) in May, despite logging its best Purchasing Managers’ Index (PMI) reading so far for the year.
— BusinessWorld Online

Bangko Sentral OKs 45 ‘branch lite’ units
Banking regulators have so far approved 45 “branch lite” units under a program aimed at expanding the availability of financial services nationwide, a senior Bangko Sentral ng Pilipinas (BSP) official said.
— The Manila Times

Congress pushes for climate-based crop insurance
Farmers can worry less about losing income due to natural calamities, should Congress pass a proposed law on climate-based crop insurance.
— Rappler

Gov’t to dump topsoil on Boracay – DAR
The government plans to dump soil on parts of Boracay to make its farmland productive as it seeks to implement President Rodrigo Duterte’s order to convert the island into an agrarian reform area, officials of the Department of Agrarian Reform (DAR) said on Monday.
— Philippine Daily Inquirer

PEZA, CEZA at odds over fiscal perks
With ongoing moves to overhaul fiscal perks under the second tax reform package, investment promotion agencies (IPAs) remain at odds over the importance of these incentives in attracting foreign investors.
— Philippine Star

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Students, teachers mark new school year with protest vs rising tuition
Students and teachers pin the blame on the tax reform law as the education department approves tuition hike petitions of over 800 private basic education schools.
— ABS-CBN (video)


Feature photo michellesimtoco


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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