Philippines Morning News For March 2

Philippines’ $2 billion LNG project draws interest from Tokyo Gas, three others
There are at least four potential investors for the Philippine government’s planned liquefied natural gas (LNG) import facility, including Tokyo Gas Co Ltd, a government energy official said on Thursday.
— Reuters

Landbank offering P1.5B for control of PDS
The Land Bank of the Philippines board is offering P1.5 billion for a majority stake in the Philippine Dealing System Holdings Corp. (PDS Group).
— Philippine Daily Inquirer

Tycoons’ Manila airport bid challenged by $3-billion offer
A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3-billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7-billion bid from a group that includes billionaires John Gokongwei and Lucio Tan.
— Business Mirror

McDonald’s PHL franchisee to spend P2B for new stores
THE exclusive franchisee of the McDonald’s brand in the Philippines plans to spend up to P2 billion for the rollout of at least 40 new stores this year, following the double-digit growth in sales the company booked in 2017.
— BusinessWorld Online

Manila urged to probe ‘maid auctions’ in Saudi Arabia
The Philippine government has been urged to investigate a claim that Filipino domestic workers are being auctioned in Saudi Arabia.
— Asia Times

PH shares fail to sustain intraday recovery
Aside from the slowdown in the manufacturing sector, fears of faster rate hikes in the U.S. and quickening Philippine inflation weighed on Philippine shares.
— ABS-CBN (video)

Group offers to rehab NAIA for P150B
The consortium of Megawide Construction Corp. and India’s GMR Infrastructure Ltd. yesterday submitted a $3-billion (approximately P150 billion) proposal to expand and rehabilitate the country’s main gateway, the Ninoy Aquino International Airport (NAIA).
— Malaya

Government promises new perks for investors in CTRP-2
While the rationalization of incentives under the proposed second package of the tax-reform measure would affect some investors, the Department of Trade and Industry (DTI) asked them to stay the course, saying that the government is planning to give them other perks.
— Business Mirror

Survey: PMI falls to 6-mth low in Feb
The country’s manufacturing PMI slipped to a six-month low in February, an IHS Markit/Nikkei survey found, reflecting job cuts and slower growth in input inventories.
— The Manila Times

Chelsea Logistics boosts income to P161 million
Listed Chelsea Logistics Holdings Corp.(CLC) reported a net profit of P161 million last year, 17.5 percent higher than the previous year.
— Philippine Star

Japan signs 3 grants for PH medical, educational facilities
The Japanese government signed this week three new grant contracts focused on enhancing and building medical and educational infrastructures.
— Philippine Canadian Inquirer

PH, China firm hold talks on joint oil hunt in SC Sea
The Philippines said Thursday it is in talks with a Chinese state firm for joint South China Sea energy resource exploration and extraction, in a proposed deal described by President Rodrigo Duterte as akin to “co-ownership” of contested areas.
— Manilastandard.net

Online hotline launched to report smoke-belching jeepneys
A new hotline has been launched that allows people to report smoke belching and dilapidated jeepneys and buses.
— Philippines Lifestyle News

3 oil firms to give P1 per liter discount to PUVs
Three oil firms have agreed to give a discount of PHP1 per liter of liquid fuels to public utility vehicles (PUVs), as they signed a memorandum of agreement (MOA) with the Department of Energy (DOE) on Thursday.
— Philippine News Agency

MPIC core net income rises 17% to P14.1B
METRO Pacific Investments Corp. (MPIC) reported a 17 percent rise in consolidated core net income to P14.1 billion for 2017 from P12.1 billion in 2016 on the strength of its increased presence in the power industry.
— Sun Star

DOF mulls tax-free shopping for tourists with VAT refunds
The Department of Finance (DOF) vowed to pass a law allowing foreign nationals visiting the Philippines to enjoy tax-free shopping during their stay in the country.
— Manila Bulletin

Exploration Deal with Beijing in South China Sea Permissible: Philippines
Manila can legally enter into a deal offered by the Chinese for joint exploration of South China Sea areas that lie within exclusive territorial limits of the Philippines, a senior Filipino government official said Thursday.
— Radio Free Asia

Senate panel begins Boracay pollution probe
The Senate will look into how one of the country’s most popular tourist destinations turned into what President Rodrigo Duterte called a “cesspool.”
— CNN Philippines

Philippines’ Duterte says no help for UN rights probe
Philippine President Rodrigo Duterte said on Thursday (Mar 1) he would not cooperate with UN investigators looking into extrajudicial killings under his rule, telling police and soldiers not to cooperate with any probe.
— ChannelNews Asia

Feature photo Ray in Manila

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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 March 2 added by Stella-maris Ewudolu on March 2, 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.