Philippines Morning News For March 12

ADB to provide technical aid, $5M for Marawi rehabilitation
The Asian Development Bank (ADB) said it will provide technical assistance and $5 million worth of funding to support the rehabilitation of Marawi City following last year’s five-month siege.
— BusinessWorld Online

Philippines struggles in war against human trafficking
Michelle thought her prayers had been answered when she finally left her home in the Philippines for Saudi Arabia last year to work as a maid.
— UCA News

PH startup expanding to Asean countries
Filipino startup Acudeen Technologies plans to expand to six countries with a combined total market of over $400 billion.
— Manila Standard

NFA to buy 6M sacks of palay from farmers
The National Food Authority (NFA) is targeting to buy 6 million sacks of palay this year to boost its buffer stock and rice distribution despite its failure to secure an increase in its buying price.
— Philippine Daily Inquirer

SC protest to ramp up ‘Sereno resign’ calls
THE pressure for Maria Lourdes A. Sereno to step down as Chief Justice of the Supreme Court (SC) is expected to intensify, as groups of judges, lawyers and court employees vowed to join protests calling for the chief magistrate’s resignation even before the impeachment trial against her begins.
— Business Mirror

Peso likely to weaken against US dollar this week
THE PESO is expected to weaken against the dollar this week, after the latest US labor report showed the continued strengthening of the US economy.
— BusinessWorld Online

British MP vows scrutiny of spy equipment sale to Philippines
A member of the British parliament on Sunday vowed to scrutinize his country’s export of surveillance equipment to Manila, saying this may make UK “complicit” in the alleged extra-judicial killings under the Philippines’ war on drugs.
— ABS-CBN

Meralco seeks regulator’s nod for P21-billion capex for 2019
POWER retailer Manila Electric Co. (Meralco) has applied for a capital expenditure (capex) of about P21 billion for 2019.
— Business Mirror

At least 44 militants killed in clash with Philippine troops: army
At least 44 pro-Islamic State militants were killed and 26 more were wounded when Philippine soldiers shelled positions held by the rebels in southern Maguindanao province, the army said on Sunday.
— Reuters

Casino operators settle for $2.6B
Okada Manila mother company Universal Entertainment Corp. (UEC) said it has ended its dispute with partner Wynn Resorts Limited through a $2.6-billion settlement.
— Malaya

Japan turns over equipment for Marawi rehab
Japan is set to turn over this month 27 units of heavy machinery and other equipment to the Philippine government to aid in the reconstruction and rehabilitation efforts for Marawi City, the Department of Finance (DOF) said.
— Malaya

PLDT to borrow P16 B to refinance maturing obligations
PLDT Inc. is set to borrow P16 billion this year to refinance its maturing obligations.
— Philippine Star

Govt debt payments down in 2017 on lower amortization
Debt payments made by the government last year dropped from 2016 due to lower amortization costs, Bureau of the Treasury data showed.
— The Manila Times

DMCI bags P16 billion worth of projects in 2017
Premier construction firm D.M. Consunji, Inc. (DMCI) nearly doubled its newly-awarded projects in 2017 to P16 billion worth of infrastructure, energy, buildings, and utilities and plants projects from P8.2 billion in 2016.
— Manila Bulletin

Philippines to lift Kuwait labor ban if following measures are in place
Philippines and Kuwaiti officials are finalizing a bilateral agreement that they hope will lift a current ban on Filipino domestic workers in the Gulf state.
— Al-Arabiya

The customs agencies of the Philippines and China agree on data exchange
The customs agencies of the Philippines and China agreed to set up a data exchange system to facilitate the timely sharing of trade information and aid the two nations in their respective campaigns against smuggling and tax evasion.
— Update Philippines

Feature photo Fabio Achilli

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.

Philippines Morning News For March 12 added by Stella-maris Ewudolu on March 12, 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.