President Rodrigo Duterte is taking on a couple of scams. Here are the stories making the headlines on ANC today:
President Duterte ordered a reorganization of the Philippine Health Insurance Corporation (PhilHealth) in the wake of a “ghost” health treatment scam. But spokesperson Shirley Domingo said officials of the agency are on the way out anyway to make way for new appointments in accordance with the Universal Healthcare Law. PhilHealth deputy spokesman Rey Balena will be guest on "Early Edition" to talk about the scam and the impending reorganization.
Speaking of scams, President Duterte also ordered the Philippine National Police and the National Bureau of Investigation to end get-rich-quick schemes in Mindanao. The Securities and Exchange Commission will hold a press conference on this at 1:30 p.m. ANC will be ready to air this live.
Analyst Jay Batongbacal said Chinese ships might have left the vicinity of Pag-asa Island because of the end of the fishing season. This is in reaction to Mon Tulfo’s boast that the ships have already sailed away and that the withdrawal was a result of backdoor talks in April.
Optimism despite concerns
Finance Secretary Sonny Dominguez said the Philippines can attain an “A” rating in two years. It’s a statement that might affect the market down the line. But for the present, the index closed higher last Friday despite thin trade. An analyst said investors are shrugging off concerns on the U.S.-China trade war. But for how long traders will shrug off these concerns, given dire warnings of an impending global recession due to the trade war, is anyone’s guess.
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