Philippines Morning News For August 17

Uber charged with violating Public Service Act
Several transport groups on Wednesday charged transport network company Uber with violation of the Public Service Act before the Quezon City Prosecutors’ Office, the first case filed against the foreign company.
— Manila Bulletin

Manila Water inks deal with WB investment arm
Manila Water Co. Inc.’s overseas business unit has signed a memorandum of understanding with the International Finance Corp. (IFC) on working together in projects in the Asia Pacific region, particularly in the south east.
— Philippine Daily Inquirer

BIR to go after big, medium-scale firms to collect P500 B
The Bureau of Internal Revenue (BIR) is reviewing the tax compliance of big and medium-scale businesses to collect billions of pesos in deficiency taxes from these sources.
— Manila Bulletin

Legalization of marijuana to boost horticulture, local economy — governor
IN HIS State of the Province Address (SOPA) on Aug. 15 at the Provincial Capitol, Benguet Governor Crescencio C. Pacalso remarked that the legalization of the use of marijuana, and the concomitant legalization and the cultivation of marijuana plants (Cannabis sativa), will surely boost the local economy and confer benefit especially to those who know how to cultivate it.
— BusinessWorld Online

Megawide parent sells P5.7-B stake to new affiliate
Citicore Holdings Investment Inc. (CHII), the parent company of Megawide Construction Corp., has sold its 313.8 million shares in the listed construction firm to newly-formed company Megacore Holdings for P5.7 billion.
— The Philippine Star

PH mobile internet speed ranks 100th in first Speedtest rankings
Speedtest, long a go-to internet speed testing service, now has a monthly ranking of internet speeds across the globe, officially called the “Speedtest Global Index.”
— Rappler

Philippines Sees the Bloodiest Night of Duterte’s Drug War With 32 Killed in Raids
Philippine police have killed 32 people in a series of drug raids near the capital Manila, in what’s believed to be the bloodiest night of President Roderigo Duterte’s drug war.
— Time

Arcade City Activates Hundreds of Philippines Drivers, Responds to LTFRB Shutdown Order
More than 200 drivers now available in Manila, Cebu City, Angeles, and Batangas after Uber withdrawal yesterday ended 66,000 driver jobs
— Asia One

Pampanga to cull 600,000 chickens
Around 600,000 chickens in Pampanga province, north of Manila, will be culled to help prevent the spread of the H5 avian flu virus, Secretary Emmanuel Piñol of the Department of Agriculture (DA) said on Wednesday.
— The Manila Times

5G service revenue in region to reach $4.5B
5G service revenues in the Asia-Pacific are expected to reach $4.5 billion by 2022 from estimated subscriptions of 280.4 million, according to research by market consultancy firm Frost & Sullivan.
— The Manila Times

Stocks stay above 8,000 ahead of GDP results
The stock market managed to stay above the 8,000 level yesterday ahead of the release of second quarter gross domestic product (GDP).
— The Philippine Star

PH shares up for 3rd day ahead of Q2 GDP
The Philippine Stock Exchange Index notched a third straight day of gains, as hopes run high for the country’s second-quarter GDP growth.
— ABS-CBN (video)

DPWH vetting C3 elevated expressway proposal
DEPARTMENT of Public Works and Highways (DPWH) Secretary Mark A. Villar said the agency is studying the unsolicited proposal of AC Infrastructure Holdings Corp. and SM Investments Corporations (SMIC) to build a C3 Elevated Expressway (C3EX) Project.
— BusinessWorld Online

PHL may rely on imported chicken to stabilize supply
The government is likely to remove import restrictions to entice traders to bring in additional shipments of cheaper chicken, as a shortage in poultry supply looms due to the bird-flu outbreak, according to Agriculture Secretary Emmanuel F. Piñol.
— Business Mirror

BSP allays concerns as peso skids to fresh 11-year low
There is no fundamental reason to panic as the peso continued to weaken against the dollar due to the rising tension between the US and North Korea as well as the projected deficit in the country’s current account (CA), the Bangko Sentral ng Pilipinas (BSP) said yesterday.
— The Philippine Star

PH needs to invest in missile defense technology – Lorenzana
With the threats of long-range missile bombardment now a looming reality, there is a need for the Philippines to invest in missile defense technology to fully protect itself against these threats.
— Update Philippines

LandBank earned P7.4b in 1st half
State-owned Land Bank of the Philippines, the country’s third-largest lender in terms of assets, said Wednesday net income in the first semester reached P7.43 billion, nearly unchanged from last year, but exceeding the mid-year target of P6.88 billion by 8 percent.
— Manilastandard.net

Proposed animal crematorium approved
A PROPOSED construction of animal crematorium in Davao City near the city pound in Maa was approved and recommended by the City Council Committee on Agriculture and Food on Wednesday, August 16.
— Sun Star

Mayor Parojinog, wife buried amid supporters’ call for justice
Ozamiz City Mayor Reynaldo Parojinog and his family were buried on Wednesday in their family mausoleum at the Mount Malindang Memorial Park, amid renewed calls for justice from their families and supporters.
— CNN Philippines

Feature photo Stephanie Azarias & Alexander Olpindo
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.

Philippines Morning News For August 17 added by Stella-maris Ewudolu on August 17, 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.