Philippines Morning News For July 10

Gov’t borrowings up 67% in Jan-May
Government borrowings jumped 67 percent to P453 billion in the first five months from a year ago, data from the Bureau of the Treasury (BTr) showed.
— The Philippine Star

Dollar reserves lower by $764M in June–BSP
The so-called foreign-currency operations of the Bangko Sentral ng Pilipinas (BSP), essentially when the Central Bank itself plays the foreign-exchange market to manage the exchange rate, helped diminished the country’s dollar reserves in June by some $700 million.
— Business Mirror

Factory output likely up 7.8% in May
PHILIPPINE manufacturing output likely rose 7.8 percent in May, accelerating from a 5.9 percent increase in April, Moody’s Analytics said in an estimate ahead of the release of official data next week.
— The Manila Times

Philippines national ID system to ensure secure delivery of social benefits
The Philippine Department of Finance (DOF) Undersecretary recently said that the government is set to allot a budget of $39.5M (USD) for the 2018 roll-out of its biometrics-based national identification system.
— Biometric Update

PH votes for treaty prohibiting nuclear weapons
The Philippines has joined 121 other nations in adopting a legally binding treaty that will prohibit the manufacture and use of nuclear weapons.
— Manila Bulletin

Peso to weaken on positive US jobs data
THE PESO is set to weaken further this week versus the dollar after the US created higher-than-expected jobs, based on data released last Friday.
— BusinessWorld Online

Maute ‘child warriors’ asked to behead a target before ‘graduation’
A 17-year-old “child warrior” of the Maute group painted a grisly picture of the initiation Maute fighters had to go through to be part of the Islamic State-linked terrorist group.
— ABS-CBN

No lifting of martial law before SONA
Duterte, in a brief interview posted over the Presidential Communications Facebook page, said he has no plans to repeal Proclamation 216 which placed Mindanao under martial law.
— Manila Bulletin

Over 500 aftershocks recorded after Leyte quake
More than 500 aftershocks were recorded from the magnitude-6.5 earthquake that hit Leyte on Thursday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported.
— The Philippine Star

Private sector cool to PPP hybrid financing
The private sector remains uncomfortable with the government’s hybrid approach for infrastructure projects.
— The Philippine Star

Pinoys to soon be granted visa-free entry to Taiwan
Seeking to strengthen the long-standing friendship between the Philippines and Taiwan, the Taiwan government will soon grant visa-free entry treatment for all Filipinos.
— Manila Bulletin

Conditions seen right for panda bonds if needed
THE GOVERNMENT will find conditions suitable should it proceed with a plan to sell yuan-denominated debt papers this semester in order to diversify funding sources further, according to a senior executive of First Metro Investment Corp. (FMIC).
— BusinessWorld Online

FLI unit Cyberzone sees continued uptrend in BPO building take-up
CYBERZONE Properties Inc., a unit of publicly listed Filinvest Land Inc., said it sees no slowdown in the take-up of their expansion projects for the business-process outsourcing (BPO) sector despite US President Donald J. Trump’s “America First” policy.
— Business Mirror

Meeting global standards for the global Filipino CPA
THE International Federation of Accountants (Ifac) is the global organization for the accountancy profession for which the Philippines is a member-country. The organization supports the development, adoption and implementation of international standards for accounting education, ethics and the public sector, as well as audit and assurance.
— Business Mirror

Philippines breaks world record on way to four-gold haul in Taiwan Dragon Boat meet
THE Philippines set a new world record en route to a gold medal finish in the 20-seater men’s 200 meters and topped three other events in the 2017 Taiwan International Dragon Boat Championships.
— Sports Interactive Network Philippines

Espenilla prefers voluntary lending over mandated credit
The Bangko Sentral ng Pilipinas (BSP) said major stakeholders in the banking industry should help fix the barriers to lending so the regulator could do away with mandated lending.
— Philippine Star

PSALM seeks to impose additional universal charge on electricity users
The Power Sector Assets and Liabilities Management Corporation (PSALM) plans to collect from consumers a universal charge of P0.0429 per kilowatt hour (kWh) a month for one year, in a bid to pay off the P3.7-billion stranded debt of the National Power Corporation (Napocor).
— Rappler

Hitachi Solutions Philippines to Exhibit Microsoft Dynamics 365 for Retail Loyalty and POS at the National Retail Conference and Stores Asia Expo 2017
Leading POS, Ecommerce, Loyalty, and ERP solution provider Hitachi Solutions Philippines Corporation will be sponsoring and exhibiting at the National Retail Conference and Stores Asia Expo 2017 (NRCE) on August 10 – 11, 2017 at the SMX Convention Center, Mall of Asia Complex, Pasay City.
— PR Web (press release)

Rappler, Philippine Red Cross ink tie-up on disaster preparedness
Rappler and the Philippine Red Cross (PRC) are partnering on a project to educate a wider audience about disaster preparedness and risk reduction by maximizing the internet, especially social media.
— Rappler

19 W. Visayas police chiefs sacked
Nineteen police chiefs in Western Visayas have been relieved from their posts for failing to enforce the anti-drug campaign in their jurisdictions.
— Philippine News

Tarlac centenarians get additional P100,000 FEATURED
Centenarians in Tarlac have received an additional P100,000 cash each from the provincial government, apart from a similar amount given to them by the national government.
— Philippine News

Congress seen to back martial law extension
Members of the two chambers of Congress are expected to support an extension of martial law in Mindanao in case Malacañang asks for it.
— Philippine News

GLOBAL BILLET WRAP: Prices rise following higher scrap costs
Steel billet prices increased in most regions last week, despite a slight weakening in China’s domestic market, amid higher scrap prices and reduced supplies.
— Metal Bulletin

New drug rehab facility to rise in Oriental Mindoro
The Department of Health’s (DOH) regional office in Mimaropa region will build its own drug rehabilitation and treatment center to serve more than 500 patients.
— Philippine Daily Inquirer

Ombudsman urged to act on plunder case vs reclamation execs on 1988 deal
A civil society group has pressed the Office of the Ombudsman to soon resolve the plunder and graft complaint it filed more than two years ago against former officials of the Public Estates Authority, now called the Philippine Reclamation Authority.
— Philippine Daily Inquirer

PhilMech taps youth to bridge technical literacy to aging farmers
The Philippine Center for Postharvest Development and Mechanization (PhilMech) is tapping the young generation of farmers the technical literacy to aging farmers as attempt to encourage use of mechanized farming technologies.
— Philippine News Agency

Mega Manila gets almost half of govt flagship infrastructure projects–Neda
Nearly half of the government’s flagship projects aimed at easing traffic and increasing transportation options will be rolled out in Mega Manila, according to the National Economic and Development Authority (Neda).
— Business Mirror

6,000 cops to secure SONA
At least 6,000 police officers will be deployed to secure the Batasang Pambansa complex in Quezon City during President Duterte’s second State of the Nation Address (SONA) on July 24, an official said yesterday.
— The Philippine Star

Feature photo Brian Evans
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 July 10 added by Stella-maris Ewudolu on July 10, 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.