Philippines Morning News For March 13

Philippines Morning News For March 13

Philippines morning newsMigrant workers’ protection: Quo vadis?
Once again, the world bears witness to the cruel realities that migrant workers face everyday in their host countries.
— The Jakarta Post

CIMB Bank partners with PLDT of the Philippines in bid of its Asean expansion
CIMB Bank Bhd, through its branch that is being set up in the Philippines, CIMB Bank Philippines Inc, recently entered into partnership agreements with CIS Bayad Center Inc and FINTQnologies Corp.
— New Straits Times

Philippine indigenous activist shot dead in ‘increasingly hostile climate’
Authorities must thoroughly investigate the murder of an indigenous activist in the Philippines, where defenders of land and environment are increasingly under attack, said a group of Southeast Asian lawmakers on Monday.
— Reuters

GSIS to sell port area land for P20B
State pension fund Government Service Insurance System (GSIS) will auction off its property in Port Area, the biggest of its assets, for a minimum cash price offer of P20 billion.
— Malaya

Philippine central bank supervisor takes aim at male-dominated boards
The Philippine central bank’s female deputy in charge of supervising the nation’s lenders has a message for their chief executives: Get more women onto your boards.
— Deal Street Asia

ISIS alive and well in the Philippines
Almost five months after Philippine troops flushed out Islamic State-aligned militants in the southern city of Marawi, fierce clashes erupted anew in restive Maguindanao province, leaving 44 Islamic militants killed, according to the military.
— Asia Times

Philippines: 4.5 mln euro invested in banana project for ARMM
Last Saturday, the Chairman of the Philippine Regional Board of Investments in ARMM (the Autonomous Region in Muslim Mindanao), Ishak Mastura, announced that the Board had approved the PHP 290 million (€ 4.5 mln) investment application for the Cavendish banana plantation project of EKASALAM AgriVentures Corp. in Kauran, Ampatuan, Maguindanao.
— Fresh Plaza

Bargain hunting lifts PSEi; peso keeps ground
The Philippine Stock Exchange index (PSEi) ended its two-day slide and recovered by 0.97 percent, or 80.99 points, to 8,453.50 points, which a trader attributed to bargain hunting after days of losses.
— Philippine News Agency

Strengthen US security through development in PH
The United States should seize the opportunity to transform its recent military success, assisting the Armed Forces of the Philippines (AFP) in the island of Mindanao, into a durable peace using adaptive measures that focus on key factors for improving human development.

Foreign Investment In The Philippines Hits Another High
The Philippines recorded another all-time high in foreign direct investments (FDI) in 2017, although the growth was substantially lower than in 2016. The volume reached $10 billion last year, up by 21.4 per cent compared to 2016.
— Investvine

Strengthen political parties to end dynasties, experts say
Southern Leyte Rep. Roger Mercado on Monday said strengthening political parties can help end political dynasties.

Malaysia pushes for stronger trade with PH, but cautious on Mindanao
Malaysian investors are bullish on increasing bilateral trade relations with the Philippines but the negative perception on Mindanao is the “biggest challenge” preventing businesses from expanding in the south, Malaysia’s Trade Minister said on Monday.

Govt OKs P30-M Banaue irrigation projects
The government has approved P30.42 million worth of communal irrigation system (CIS) projects aimed at ensuring rice sufficiency and a steady supply of irrigation water, and fixing abandoned rice terraces in Banaue town, Ifugao province.
— The Manila Times

Cebu Doctors Group invests P200 M for MDH upgrade
The Cebu Doctors’ Group of Hospitals is investing some P200 million to expand its hospital in Mactan Island in the next two years to meet the increasing population and demand for healthcare in the locality.
— Philippine Star

SM Group plans to spend P66.3b to expand units
Conglomerate SM Investments Corp. said Monday it will spend P66.3 billion this year mostly to expand its property, banking and retail businesses.
— Manila Standard

Fuel prices to go down Tuesday
Some gas stations begin offering discounts to public utility vehicles, including cars from ride-hailing services Grab and Uber.
— ABS-CBN (video)

China credit rater gives top marks to PHL’s panda bonds
A CHINESE debt watcher has given its highest credit rating to the Philippines’ planned yuan-denominated securities, citing the country’s “strong and consistent economic growth,” the Finance department said in a press release on Monday.
— BusinessWorld Online

BSP says proposed law can help regulate cryptocurrencies
The Bangko Sentral ng Pilipinas said there is a piece of legislation in the works and well on its way to passing Congress, which will help it better regulate cryptocurrencies.

Rediscounting loans hit P5.8 B end-Feb. – BSP
The Bangko Sentral ng Pilipinas (BSP) released P5.81 billion worth of loans under its peso rediscount facility as of end-February this year, significantly higher compared to only P11 million same time in 2017.
— Manila Bulletin

‘Duterte gov’t move to declare 600 persons as terrorists, a prelude to massive crackdown on critics’
The Department of Justice (DOJ) has sought the declaration of the Communist Party of the Philippines (CPP), its armed wing, New People’s Army (NPA), and at least 600 progressives as “terrorists.”
— Davao Today

Ayala to spend record P249B for capex in 2018
THE AYALA GROUP is ramping up its capital expenditure budget by nearly half this year to support the expansion of its business units after sustaining double-digit profit growth for the sixth consecutive year.
— BusinessWorld Online


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.


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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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