ANC will be covering these stories today:
Wheels of development
It’s the second day of the Asian Development Bank (ADB) Board of Governors’ Meeting in Pasig. ANC business reporters Michelle Ong and Warren De Guzman will continue their coverage of the activities there and will report live throughout the day. A notable event is the 8 a.m. ADB briefing on Southeast Asia by an economist.
Missile envy redux
According to reports, China has installed anti-ship cruise missiles and surface-to-air missiles in the Spratlys. This despite a statement by Chinese Premier Xi Jinping at the recent Boao Forum that China wants to refrain from “seeking dominance.” U.S. Ambassador Sung Kim said the US is concerned about the militarization of the South China Sea. He also said the US will continue freedom of navigation operations despite protests by Beijing. Magdalo Rep. Gary Alejano said the missiles were proof of “continuous aggression” by China and that the missile system threatens the Philippines. This comes just a day after the Philippines announced it has acquired its first-ever missile system. ANC will tackle the subject with interviews with defense analysts and experts and even Alejano himself.
Circus in town
The circus is coming to town. It’s the start of the campaign period for the barangay and SK elections. Besides the usual campaign stories, ANC will pick out the candidates' usual and unusual ways to win votes. Also, the Comelec is due to hold a press conference during the day. ANC will be ready to air this live. At the same time, we will be monitoring the command conference of PNP Chief Dir. Gen. Oscar Albayalde in Baguio City and the 9 a.m. press conference of the NCRPO. Security operations related to the elections are sure to be discussed.
ANC will continue to report on other audits done by the COA as well as the fallout from the DOT controversy. It was confirmed that Wanda Tulfo-Teo’s husband Roberto Teo sits as director of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), the DOT’s infrastructure arm. This comes after the COA flagged the P60-million ad placement of the DOT with a media company run by the Tulfo brothers. The Palace made no categorical statement on whether Teo still enjoys the trust and confidence of President Duterte. The COA also questioned the travel expenses of Philhealth interim president Dr. Celestina De La Serna to the tune of more than P600,000 even as PhilHealth reported a net income loss of nearly P9 billion.
An analyst says the Philippine economy may be overheating. At 9 am, the April inflation numbers are due to be released. And Nomura says the country’s remittances from OFWs may take a hit due to the permanent OFW deployment ban to Kuwait. All this is threatening to weigh heavily on the market. The PSEi already plunged back to levels of over one year lows on Thursday, dragged by negative sentiment in the Asian markets and the weak peso. Will we end the week in the doldrums or will buying perk up the PSEi somehow?
- President Duterte lands on the cover of Time Magazine related to a story on the “new strongmen.”