Philippines Morning News For June 6

QT Steel Could See Manila High-Rises Collapse in Big Quake Warns Engineer
A Filipino engineer has warned that many of the countries towering high-rise buildings could be severely damaged, with some possibly collapsing, due to the use of Quenched Tempered (QT) steel bars in their construction.
— AEC News Today

Quezon City gives informal settlers P1.2-million to move to Rizal
The 37-member Quezon City council has given Mayor Herbert Bautista the green light to extend P1.2 million in financial aid to informal settlers affected by road improvement projects.
— Manilastandard.net

Cebu container port project gets $173-million South Korea funding
South Korea has extended a $172.64 million loan agreement to the Philippines for the construction of the Cebu International Container Port, according to the Department of Finance (DOF).
— Philippine Star

PH immigration authorities nab Korean for allegedly defrauding almost US$40,000
39-year-old Korean Yun Jong Sik, who had been apprehended in Makati City for allegedly committing fraud, now faces deportation, the Philippines’ Bureau of Immigration (BI) announced today.
— Coconuts Manila

Duterte Harry: Fire and Fury in the Philippines
Our Philippines editor Nicole Curato talked to Jonathan Miller, the author of Duterte Harry: Fire and Fury in the Philippines, after the book’s Canberra launch at the Australian National University on 31 May.
— New Mandala

DOJ takes over $10-million estafa suit vs Okada
The Department of Justice (DOJ) has taken over the $10-million estafa cases filed against Japanese gaming tycoon Kazuo Okada.
— Philippine Star

The Asian Development Bank preaches bond destiny
Fifteen years after the Asean+3 (China, Japan and South Korea) countries launched their local bond market initiative in the aftermath of the financial crisis, the Asian Development Bank, which coordinates it, prepared an updated good practice guide to build on “remarkable progress.”
— Asia Times

S.Korea investments expected to generate 50,000 jobs
South Korean businessmen are interested in investing in the Philippines with the signing of 23 business deals with an estimated value of $4.858 billion.
— Manila Bulletin

PHL asks SoKor to slash tariffs on imported fruits to 5%
MANILA has urged Seoul to slash tariffs on agricultural imports to least 5 percent so Filipino planters could expand their fruit shipments to South Korea.
— Business Mirror

Ride-hailing service provider sees net loss of P3B
Ride-hailing firm MYTAXI.PH Inc., a subsidiary of Grab Inc., is expected to report a net loss until next year according to Brian Cu, Grab Philippines country head.
— Malaya

DAR needs P10B to distribute government-owned lands
THE planned distribution of government-owned lands under the Duterte administration’s agrarian-reform program will cost the government at least P10 billion more on top of the annual budget of the agency under the General Appropriations Act (GAA), an official of the Department of Agrarian Reform (DAR) said.
— Business Mirror

BFAR sets 3-month fishing ban in southern Mindanao
Mackerel, scad and trevally are now off limits to more than 40,000 fishermen in southern Mindanao following the suspension of commercial fishing at the 308,000-hectare Davao Gulf from June 1 to Aug. 31.
— Philippine Daily Inquirer

Duterte says ‘radical changes’ to happen in coming days
President Rodrigo Duterte warned of “radical changes” in the coming days.
— CNN Philippines

Duterte: Sending soldiers on ‘suicide’ mission could lead to ouster
President Rodrigo Duterte said Tuesday night that the Armed Forces of the Philippines (AFP) could oust him if he were to send soldiers to fight China in the disputed areas of the West Philippine Sea.
— Inquirer.net

Manila waterway choked with plastic
The blanket of trash on a creek that flows between the makeshift homes of a Manila slum is so dense it appears one could walk across it like a paved street.
— Gulf Times

A bill to allow divorce in the Philippines could mean freedom for some women in New York
When Neriza Caspe said goodbye to her four children in the Philippines 18 years ago, she didn’t know how long she’d be gone — just that she wanted to work abroad to better provide for them, and escape her abusive husband.
— PRI

SC orders government to answer petition vs ICC withdrawal
The Supreme Court (SC) has ordered Malacañang to answer the petition filed last month by six opposition senators challenging the administration’s withdrawal of the country’s membership in the International Criminal Court (ICC).
— Philippine Star

PH manufacturing output accelerates in April
FACTORY output — both in volume and value terms — continued to accelerate in April with the expansion also faster compared to a month earlier, the Philippine Statistics Authority (PSA) reported on Tuesday.
— The Manila Times

Unemployment declines, underemployment up in April
The proportion of unemployed Filipinos slightly dropped in April, the government reported on Tuesday.
— Philippines Magazine

Despite higher inflation, economic managers reject TRAIN law suspension
The country’s economic managers on Tuesday, June 5, rejected calls to suspend the implementation of the tax reform law amid higher transportation costs and prices of basic goods that drove inflation to a new 5-year high.
— Rappler

Philippines awards five firms in 250,000-tonne rice tender
The Philippines’ National Food Authority on Tuesday made final awards to five trading houses in its purchase of 250,000 tonnes of rice in an international tender issued on May 22, European traders said.
— Business Recorder (media release)

D&L seeks more partnerships, to pay P1.86-B cash dividend
D&L Industries the country’s largest specialty foods ingredients, plastics and oleochemicals firm, is aiming to seal more partnerships with large multinational firms seeking to establish a presence in Asia.
— Manila Bulletin

Philippine City Passes Law Against LGBT Discrimination
The Philippine city of Mandaluyong has approved an ordinance to protect the rights of lesbian, gay, bisexual, and transgender people from discrimination, the latest in a slew of local laws passed across the country.
— Human Rights Watch

Homegrown companies urged to tap 1.4-B Chinese market in upcoming import expo
THE Center for International Trade Expositions and Missions (Citem) bared that it is currently in talks with various local companies keen to tap into the 1.4-billion Chinese market by joining the Philippine Pavilion for the upcoming China International Import Expo 2018 (CIIE) in Shanghai from November 5 to 10.
— Business Mirror

PSBank looks to use proceeds of planned LTNCD sale to expand consumer segment
PHILIPPINE SAVINGS Bank (PSBank) said it will raise funds through long-term negotiable certificates of time deposit (LTNCD) to expand its consumer banking segment.
— BusinessWorld Online

NEDA: 625,000 jobs created in April, with majority in construction
More than a third of April’s new employment came from the construction industry, and the government said it is mainly driven by the massive infrastructure push.
— ABS-CBN (video)

ABS-CBN, GMA clash over TV ratings anew
Media and entertainment firm ABS-CBN Corp. claimed it remained the preferred television (TV) network nationwide in May, while rival GMA Network Inc. said it was the top choice of urban households.
— Philippine Star

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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.

Philippines Morning News For June 6 added by Stella-maris Ewudolu on June 6, 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.