Philippines Morning News For August 7

Consumer spending to boost GDP in H2
The expected increase in household and government consumption would help GDP grow by more than 7 percent in the second half of the year, according to the National Economic and Development Authority (Neda).
— Business Mirror

Duterte’s ‘Build, Build, Build’ plans hit Philippine peso
Philippine construction firm Teravera Corp is planning to raise a fourth dollar loan in a year, after borrowing around $2.5 million to buy dozens of excavators, road rollers and dump trucks from China, South Korea and Japan.
— The News International

First-half gov’t borrowing P505 billion
GOVERNMENT borrowing grew nearly 60% year on year after increased bond issues, pushing borrowing in the first half to over half a trillion pesos, according to the Treasury bureau.
— BusinessWorld Online

Tax court voids P34-million tax case of Kepco Ilijan
THE COURT of Tax Appeals (CTA) has voided the Bureau of Internal Revenue (BIR)’s tax assessment on independent power producer Kepco Ilijan in consideration of payments made during its sale to a Government-Owned and Controlled Corporation (GOCC). The First Division of the CTA, in a decision dated July 24, granted Kepco Ilijan’s Petition for Review on the cancellation and withdrawal of BIR’s Final Decision on Disputed Assessment on the company’s deficiency Value Added Tax (VAT) worth almost P34.3 million.
— BusinessWorld Online

10M still jobless but optimism ‘very high’
THE RANKS of jobless Filipinos steadied around the 10 million mark in the second quarter from the preceding three months and from a year ago, according to a Social Weather Stations (SWS) survey that nevertheless showed net optimism on job availability in the next 12 months improving to “very high” category.
— BusinessWorld Online

ADB raises $1.25 B for climate plan
Manila-based Asian Development Bank (ADB) has raised $1.25 billion from a dual tranche sale of five-year and 10-year green bonds, proceeds of which will be used to fund climate change projects across the Asia Pacific region.
— The Philippine Star

Maute death count now 523
The Armed Forces of the Philippines (AFP) yesterday said that the number of Isis-inspired Maute Group terrorists killed in the ongoing battle inside Marawi City continued to increase following the death of another enemy.
— Manila Bulletin

Over 2 M Pinoys blind, sight-impaired
Over two million people nationwide are blind or suffering from poor vision, the Department of Health (DOH) reported yesterday.
— The Philippine Star

World-class hospital to rise in Manila for cleft lip, palate patients
The city government of Manila is eyeing the establishment of a world-class medical center that will focus on the treatment and rehabilitation of patients with cleft lip and palates and other facial disfigurement.
— Manila Bulletin

470 poor families to become homeowners
Another batch of families who have been illegally occupying private lots in Manila will soon get a chance to have their own houses.
— Philippine Daily Inquirer

Lawmakers urged: Give up ‘pork’ to fund free tuition
Funding the free college education law that President Duterte signed last week will not be a problem if the government taps unused appropriations and lawmakers give up their pork barrel in the 2018 national budget, Sen. Panfilo Lacson said yesterday.
— The Philippine Star

Alvarez formally files dissolution of marriage bill
House Speaker Pantaleon Alvarez formally filed his bill seeking to legalize the dissolution of marriages.
— ABS-CBN

Court to junk plea to exhume Marcos
The Supreme Court (SC) is poised to lay to rest the case filed by some lawmakers seeking the exhumation of the remains of former president Ferdinand Marcos at the Libingan ng mga Bayani (LNMB).
— The Manila Online

Davao allots P3M for holy pilgrimage of 16 Muslims
THE Davao City Government has allotted more than P3 million for the holy pilgrimage, or Hajj, of 16 Muslims coming from different tribes and Muslim organizations within the city.
— Sun Star

Phl losing 80% of seas – Carpio
Patrol our exclusive economic zone; seek recompense for China’s environment ruin; file for extended continental shelf. Such moves can fortify Manila’s victory in the UN maritime arbitration, says Supreme Court Senior Justice Antonio T. Carpio. But certain acts weaken the UN ruling, he told the Stratbase-Albert del Rosario Institute, in this last of four parts:
— The Philippine Star

Philippines backs new UN sanctions on NoKor
The Philippines yesterday supported the United Nations Security Council’s decision to impose stiffer economic sanctions on North Korea.
— The Philippine Star

Feature photo Asian Development Bank
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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 August 7 added by Stella-maris Ewudolu on August 7, 2017
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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.