Philippines Morning News For August 25

Philippines Morning News For August 25

Philippines morning newsPH real estate market struggles to keep pace with ASEAN neighbors
Because of restrictions to foreign ownership, the Philippine property market will continue to struggle in keeping pace with its Southeast Asian neighbors in terms of being lucrative investment havens, a data from real estate services firm JLL showed.
— Manila Bulletin

PSEi gains .08%, breaches 8,000 level
The local stock barometer yesterday crept back to the 8,000 level in thin trade ahead of a closely watched central bank symposium in Jackson Hole.
— Philippine Daily Inquirer

190,000-Strong national police to counter ouster plot against Duterte
The Philippine National Police said it is prepared to counter groups that are calling for the ouster of President Rodrigo Duterte.
— Update Philippines

One of 31, student killing an ‘isolated case’ in Duterte’s war on drugs, says law chief
The top law office in the Philippines has claimed the execution of a high school student that sparked a public outcry across the country was an “isolated case” and “collateral damage” was inevitable in President Rodrigo Duterte’s war on drugs.
— The Sydney Morning Herald

Davao projects P722-M revenue boost
The city is projecting additional revenue of P722 million with the approval of new assessment levels for real property and amendments to the 2005 Revenue Code of Davao City.
— BusinessWorld Online

Grab under fire for surge pricing, difficulty in booking
Ride-sharing company Grab defended its service after receiving complaints of surge pricing and booking difficulties from passengers. More from Jacque Manabat.
— ABS-CBN (video)

PHL all set to ship more sugar to US
Some 55,000 metric tons (MT) of sugar will be exported to the United States before October 31 to fill the additional sugar quota granted by Washington to the Philippines, according to the Sugar Regulatory Administration (SRA).
— Business Mirror

BOI signs masterplan for dev’t of Leyte Ecological Industrial Zone
The Board of Investments (BOI) has signed a Memorandum of Cooperation (MOC) with the Visayas State University (VSU) for the development of a masterplan and feasibility study for the Leyte Ecological Industrial Zone (LEIZ), which will largely focus on the development of the copper industry in the Leyte.
— Manila Bulletin

Nickel Asia outperforms PH stocks
Nickel Asia outperformed once again at the Philippine Stock Exchange, enjoying heavy volume and hefty gains despite another lackluster session for the market.
— ABS-CBN (video)

Wealth of 50 Filipinos account for 24% of PH’s 2016 GDP
No other man benefits more from the country’s brisk economic growth than Henry Sy Sr, whose fortune ballooned to a high of $18 billion, making him the Philippines’ richest man for the 10th consecutive year.
— Rappler

Bangko Sentral to issue P1 commemorative coins
The Bangko Sentral ng Pilipinas (BSP) on Thursday announced that it would be issuing commemorative circulation coins to celebrate the birth anniversaries of a Jesuit historian and two heroes of the Philippine Revolution.
— The Manila Times

Drilon wants Faeldon placed under witness protection program
Senate Minority Leader Franklin Drilon on Thursday urged the Department of Justice (DOJ) to consider placing former Bureau of Customs (BOC) Commissioner Nicanor Faeldon under its witness protection program (WPP) to expose what he knew of this massive corruption within the bureau.
— Philippine Canadian Inquirer

Brokerage activities generate P52B
The premium income generated from brokerage activities totaled to P52.07 billion in 2016, up by 2.46 percent from P50.82 in 2015, according to the Insurance Commission (IC).
— Malaya

Sison denies link with police, military group​ ​seeking Duterte’s ouster
Communist Party of the Philippines founder Jose Maria Sison said he has nothing to do with the group called the Patriotic and Democratic Movement (PADEM) that is calling for the ouster of Philippine President Rodrigo Duterte.
— Davao Today

Debt prepayments climb 35% to $2 B
Debt prepayments by Philippine borrowers including the national government rose 35.1 percent in the first four months, resulting in the further weakening of the peso against the dollar, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— The Philippine Star

Govt cheers P110-b foreign investments
The Finance Department said the recent decision of two foreign companies to invest P110 billion in local companies reflects a vote of coincidence in the Duterte administration.
— Manilastandard.net

Ayala allotting P1.3b for FamilyDoc clinics
Ayala Healthcare Holdings Inc., a unit of conglomerate Ayala Corp., is spending up to P1.3 billion to expand the chain of FamilyDoc clinics to a hundred facilities by 2020, a top executive said Thursday.
— Manilastandard.net

Agriculture Department: PH bird flu strain transmissible to humans
The bird flu that has hit parts of the Philippines has been confirmed to be H5N6 – a strain that can be transmitted to humans.
— CNN Philippines

Australia, Philippines to hold ASEAN Women’s Business Forum
The Australian Government and the Philippine Department of Trade and Industry, will co-host the ASEAN Forum on ‘Women’s Economic Empowerment: the Next Driver of ASEAN’s Success’ on 29 August 2017 at the Philippine International Convention Centre (PICC).
— Philippine Information Agency

Peso ends at two-week high
THE PESO strengthened versus the greenback yesterday to log its best showing in nearly two weeks, with dollar inflows and negative remarks by US President Donald J. Trump allowing the currency to firm up for the third straight day.
— BusinessWorld Online

Uber suspension cuts Metro Manila travel time by 5% — MMDA
THE SUSPENSION imposed against Uber Philippines, a unit of Uber Systems, Inc., has improved travel times on Metro Manila’s roads, Metropolitan Manila Development Authority (MMDA) Chairman Danilo D. Lim said.
— BusinessWorld Online

Fisheries production declines in Q2
Fisheries production in the country slightly declined in the second quarter amid lower output in most sub-sectors.
— The Philippine Star

Peso to open JobStart on Aug. 25
THE Public Employment Service Office (Peso) will be opening its third wave of the JobStart Philippines program on Friday, August 25, urging the unemployed youths to apply.
— Sun Star

Innoland to invest P13 billion for 2 projects
CEBU-BASED property developer Innoland Development Corp. is investing about P13 billion to fund two projects in Cebu and Makati cities this year.
— Sun Star

Drone sellers told to educate buyers on rules
The Davao City Police Office (DCPO) is intensifying awareness on flying unmanned aircraft vehicles (UAVs), commonly known as drones, urging sellers to also inform buyers of existing regulations by the Civil Aeronautics Aviation of the Philippines (CAAP).
— Philippine News Agency

Philippines defeats Thailand to win first ever SEA Games ice hockey gold
The Philippines avoided a mid-game collapse to win the inaugural ice hockey gold medal at the Southeast Asian Games over Thailand, 5-4, on Thursday, August 24 at Empire City Mall in Kuala Lumpur, Malaysia.
— Rappler

Jeepney, van operators urged to form coops
Jeepney and van operators in the Cagayan Valley region were urged to organize themselves into cooperatives or join any of the existing transport coops in the region to avail of franchise and bank loans.
— Philippine Information Agency

Thousands of new HIV cases in Philippines raise concern
At least 1,103 people tested positive for the human immunodeficiency virus (HIV) in the Philippines in June, official figures show.
— Gulf News

 

Feature photo ILO in Asia and the Pacific
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.

 

 

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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.

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