Philippines Morning News For July 13

Philippines Morning News For July 13

Philippines morning news

Government to allow 70% foreign equity in telcos, utilities
President Duterte wants to allow foreign investors to own up to 70 percent of telecommunication firms and all public utilities, according to the National Economic and Development Authority (Neda), and this will probably be reflected in the updated Regular Foreign Investment Negative List (RFINL) due in August.
— Business Mirror

Philippines: Drilling for oil in disputed sea may resume
Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December.
— Bangkok Post

New oil and coal contracting round to cover 4.8-M ha. prospecting area
A NEW contracting round is in the works for petroleum and coal, the Department of Energy (DoE) said on Wednesday, in a move that the agency hopes to create wealth for the industry to fund more energy development projects.
— BusinessWorld Online

The Philippines is aiming for an energy boom with Duterte’s latest reform
Philippine President Rodrigo Duterte’s latest attempt to reform the Philippine economy is a major change for the energy industry there.
— CNBC

PH shares end at 3-week high
Philippine shares break past the 7,900 level for the first time in three weeks as the local stock market outperformed its Asian peers.
— ABS-CBN (Video)

Alcoholic drinks to start bearing tax stamps in 2018
The Department of Finance (DOF) will start implementing the tax-stamps scheme for alcoholic beverages early next year.
— Business Mirror

Philippine government blacklists 43 garlic importers
The Department of Agriculture said Wednesday it had blacklisted 43 garlic importers for allegedly contributing to the increase in prices.
— Fresh Plaza

India sends $5 Lakh help to Philippines fight Terrorism
At a time when world media attention is focused on liberation of Mosul in Iraq and Reqqa in Syria from the clutches of IS terrorists, India has rushed financial assistance of $500,000 (Rs 3.2 crore) to the Philippines, while its security forces were engaged in a constant battle for last seven days.
— APN Live

Palace has P1.4 B in unused donations — COA
Malacañang has more than P1.412 billion in unused donations stashed in the Bureau of Treasury (BTr), which President Duterte can use for economic development projects and other needs such as the rehabilitation of war-torn Marawi City and rebuilding the earthquake-stricken province of Leyte, according to the Commission on Audit (COA).
— The Philippine Star

PH shipbuilders urged to participate in modernization of Navy
Help us modernize the Armed Forces of the Philippines (AFP) especially the Navy. This was the appeal of Department of National Defense (DND) Secretary Delfin Lorenzana to local maritime industries during the opening of the PHILMARINE (Philippines Marine) 2017 Conference at the SMX Convention Center in Pasay City Tuesday.
— Update Philippines

Japan Tobacco offers to buy embattled Philippine rival for $890m
Japan Tobacco has offered to buy beleaguered Philippine cigarette manufacturer Mighty and related assets for 45 billion pesos ($890 million), the Philippine Department of Finance said on Wednesday.
— Nikkei Asian Review

At least 300 civilians still trapped in Marawi — AFP
About 300 civilians are still trapped in areas held by Maute terrorist group in Marawi City as fighting entered its 51st day.
— Manila Bulletin

Villar: Lifting tax exemption on low-cost houses would burden OFWs
Sen. Cynthia Villar disagrees with proposal of the Department of Finance (DOF) to lift the tax exemption on the purchase of houses and other properties worth P3 million and below.
— Inquirer.net

There’ll be 105M Pinoys by year-end
The population of the Philippines will hit 105.75 million at the end of the year, the Population Commission (PopCom) said on Tuesday.
— Philippine Daily Inquirer

Philippine president Duterte’s pivot to China a ‘game changer’: Official
The Philippines is set on maintaining “good neighbourly relations” with Beijing, even as experts warn that China may start building in three years an island fortress just off the main Philippine island of Luzon.
— The Straits Times

Duterte criticized for inaction on sea dispute with China despite legal victory
Two members of the Philippine legal team that won in 2016 the arbitration case against China on the territorial dispute in the West Philippine Sea expressed disappointment over the Duterte administration’s continued inaction on the issue, in effect disregarding the country’s victory.
— Inquirer.net

Carpio: PH ‘dropped the ball’ on arbitration victory against China
A Supreme Court justice said the Philippines has “dropped the ball” on its 2016 arbitration victory against Beijing on the South China Sea dispute. He added, the government should lodge a similar complaint if China ends up militarizing Scarborough Shoal.
— ABS-CBN (Video)

Philippines, Asean states warned vs investment deals with China
Member-countries of the Association of Southeast Asian Nations (ASEAN), especially the Philippines, should be cautious when entering into massive investment deals with China as they may end up paying more than what they bargained for, a scholar and former United Nations ambassador from India has warned.
— The Philippine Star

Corporate regulator sees ‘really big investigation’ into 2GO’s condition
THE SECURITIES and Exchange Commission (SEC) is giving 2GO Group, Inc. until Friday to submit a written clarification on substantial revisions to its 2015 and 2016 audited financial reports.
— BusinessWorld Online

Duterte’s first year: Philippine health agenda ‘a sham’
The Duterte administration continues to pursue neoliberal policies. Its flagship health plan, the Philippine Health Agenda or ACHIEVE, is a sham, having failed to address the health needs of the people and create substantial changes in the Department of Health’s (DOH) policies and programs.
— Rappler

Careful balance needed on regulation of TNCs
ON Tuesday, the Land Transportation Franchising and Regulatory Board (LTFRB) slapped fines of P5 million each on popular transport network companies (TNCs) Grab and Uber, mainly for deploying vehicles without certificates of public convenience, or franchises. Grab, for instance, was found to have 28,000 vehicles, but only 4,000 have permits, confirming suspicions that many of its vehicles on the road are, in local slang, “colorum” or illegal.
— The Manila Times

PHL’s goal to be Southeast Asia’s LNG hub gets ‘great interests’ from 5 countries
The Philippine government has received “great interests” from five countries that want to be involved in the liquefied natural gas (LNG) sector.
— Business Mirror

Palawan named Best Island in the World anew
The island of Palawan has been named the Best Island in the World by US magazine, Travel + Leisure for the second year in a row.
— Manila Bulletin

P25M budget for NegOcc’s anti-terror, disaster measures
The Provincial Disaster Risk Reduction and Management Council (PDRRMC) of Negros Occidental approved on Wednesday a PHP25-million allocation for the province’s anti-terrorism and disaster response measures.
— Philippine News Agency

DA proposes P175-B for Tier 2 budget in 2018
The Department of Agriculture (DA) has proposed a PHP175 billion for Tier 2 of its budget for next year.
— Philippine News Agency

P7.2-M drug rehab center rises in Albay
Civil works for the construction of a P7.2-million drug rehabilitation center in Ligao City in Albay province will start this month, Gov. Al Francis Bichara said recently.
— Philippine Daily Inquirer

AFP yet to recover P105-M from dead pensioners – COA
The Commission on Audit has called out the Armed Forces of the Philippines for not recovering yet, the excess payment of P105.33 million in benefits to pensioners who have already died.
— Philippine Daily Inquirer

433 families in Kapai, Ditsaan Ramain towns to receive relief goods
Four hundred thirty three families in the municipalities of Kapai and Ramain towns of Lanao del Sur will receive five kilos of rice each.
— Philippine Information Agency

Duterte: PH to seek Russia, China aid to fight terrorism
PRESIDENT Rodrigo Duterte said Wednesday that the Philippines would seek the help of China and Russia to combat terrorism in the country.
— Sun 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.

 

 

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Stella-maris Ewudolu

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 2004 and February 2011 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.
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