Philippines Morning News For July 19

Philippines Morning News For July 19

Philippines morning newsPeso depreciates to near 11-year low
The peso continued to weaken against the dollar yesterday, shedding another seven centavos to close at its lowest level in almost 11 years.
— The Philippine Star

Shell reverses P1.36 B in books after favorable SC tax case ruling
Pilipinas Shell Petroleum Corp. is cancelling its financial exposure amounting to P1.36 billion after the Supreme Court junked its tax case.
— The Philippine Star

Faster internet seen to attract more investors in Davao City
A faster and reliable internet connection would result in more investors coming in to further boost the business climate in Davao City.
— TechnoChops (press release) (blog)

PH shares inch closer to 8,000 mark
Philippine shares closed higher for a second day as investors shrugged off disruptions. These include a pending extension of martial law in Mindanao and an accident at the construction site of a major infrastructure project.
— ABS-CBN (video)

Thai agri experts vow to assist PH in food safety benchmarking
AGRICULTURE officials of Thailand have expressed willingness to help the Philippines improve its food safety program through more benchmarking activities.
— Sun Star

US gives spy planes to help Philippines fight militants in the south
The US will send to the Philippines two spy planes to help the military fight militants in Marawi city, an American envoy has said.
— Gulf News

‘Robust remittances to help balance PH current account’
Remittances from overseas Filipino workers (OFW) will continue to grow briskly this year and could help counter the impact of a widening trade deficit on the country’s current account, global financial institutions DBS Bank and ING Bank said in their latest market reports.
— The Manila Times

LTFRB orders deactivation of 50,000 Uber, Grab cars
The public should expect a shortage of transport next week as the crackdown on more than 50,000 illegal and unauthorized Uber and Grab cars is enforced on July 26, transport officials said yesterday.
— The Philippine Star

We have 7 endangered cities if ocean levels rise
A massive iceberg, said to be as large as the United States state of Delaware split off from Antarctica’s Larsen C Shelf in the South Pole early this month. The iceberg is said to have an area of about 5,800 square kilometers – bigger than our Cebu island – and weighs over a trillion tons.
— Manila Bulletin

IC studies proposal to lower insurance costs for jeepney operators
THE Insurance Commission (IC) is studying the proposal to trim premiums imposed on comprehensive motor insurance, and allow insurance firms to provide credit to jeepney operators, amid the government’s jeepney modernization program.
— BusinessWorld Online

Heroes photos in, Duterte portraits out
President Rodrigo Duterte is eyeing to issue an order to prohibit the display of his framed photos in all government offices.
— Inquirer.net

AFP: Martial law extension to stamp out Maute threat
The public should not fear the extension of martial law in Mindanao since its extended implementation is needed to weed out terrorists in Marawi City, the military said on Tuesday.
— The Manila Times

Senator says 75% of garlic, onion supply controlled by cartel
The chair of the Senate committee on agriculture said up to 75 percent of the country’s supply of garlic and onion is controlled by a cartel, citing data from the Department of Justice.
— Philippine Daily Inquirer

DICT rolls out online business permits, licensing system
The Philippines has made strides in global ease of doing business surveys in recent years, but it remains a laggard in Southeast Asia. Government hopes to change that by rolling out an online business permits and licensing system.
— ABS-CBN (video)

Many dev’t goals missed in last 6 years — scorecard
A GOVERNMENT SCORECARD that details the Philippines’ progress in meeting economic development targets in the last six years showed that the country failed in many of them.
— BusinessWorld Online

NPA to launch series of attacks in Davao to humiliate Duterte — PNP
The New People’s Army (NPA) is planning to humiliate President Duterte in his second State of the Nation Address (SONA) next week by launching a series of attacks in Davao region.
— Manila Bulletin

DTI told to probe price hikes triggered by CTRP
The anticipated inflationary effect of the administration’s tax-reform program has already reared its ugly head even before the first tranche of the tax package is passed into law, as evidenced by the increases in the cost of basic commodities and vehicles.
— Business Mirror

$10-M bio-charcoal facility to be built in Nueva Ecija
A $10 million bio-charcoal facility will be built here later this year that is expected to be a major source of renewable and sustainable energy, and will provide more employment in the province, according to the MacKay Green Energy, Inc. (MGE).
— Manila Bulletin

Consumers urged to buy PH-made products
The president of Association of Negros Producers (ANP) on Tuesday encouraged consumers to buy local products to support Philippine manufacturers and help create jobs for Filipinos.
— Philippine News Agency

BFP allocates P50 million for 7 fire stations in Negros
BACOLOD. Chief Superintendent Leonard Bañago, acting chief of BFP, and Senior Superintendent Fred Trajeras, director of BFP-NIR, with the firemen recruits during the recognition rites at Panaad Stadium in Bacolod City Monday, July 17, 2017. (Glazyl Y. Masculino)
— Sun Star

Closure order against 10 EDSA bus terminals out today
The Metropolitan Manila Development Authority (MMDA), Land Transportation Franchising and Regulatory Board (LTFRB) and the Quezon City government are set to issue closure orders today against 10 illegal bus terminals operating along Epifanio Delos Santos Avenue (EDSA).
— Manila Bulletin

Robinsons Bank says first-half net income hits P150.7 million
GOKONGWEI-LED Robinsons Bank Corp.’s net income in the first six months of the year has already surpassed its profit for the full year 2016, the lender’s chief said.
— BusinessWorld Online

SSS to collect more than P13B under LRP
The Social Security System (SSS) has collected more than P5.22 billion in overdue loan payments from member-borrowers who availed of the Loan Restructuring Program (LRP) in the last 12 months, and expects to collect nearly P9 billion more in the next five years.
— Philippine Information Agency

Cloud Security Alliance marks new milestone with CSA Philippines Summit 2017
At the first Cloud Security Alliance (CSA) Philippines Summit last July 11, twenty-six leading IT companies and start-ups demonstrated innovations across sectors of Cloud technology including Security, Datacenter, Enterprise, Mobile Apps, and E-Commerce.
— Inquirer.net

PUV modernization seen costing P198 billion over 3 years
The cost of modernizing the country’s public transport fleet of jeepneys at some P66 billion a year over three years is just too much for the operators to shoulder alone, the umbrella group Kilusan sa Pagbabago ng Industriya ng Transportasyon (Kapit) said.
— Business Mirror

United Services Automobile Association Has $2.94 Million Stake in PLDT Inc. (PHI)
United Services Automobile Association increased its stake in PLDT Inc. (NYSE:PHI) by 23.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 91,380 shares of the technology company’s stock after buying an additional 17,200 shares during the period. United Services Automobile Association’s holdings in PLDT were worth $2,939,000 as of its most recent filing with the SEC.
— Chaffey Breeze

Duterte turns over 3,000 pistols to AFP
In fulfillment of his promise to Filipino soldiers, President Rodrigo Duterte on Tuesday turned over 3,000 units of caliber .45 pistols to the Armed Forces of the Philippines (AFP) in a simple ceremonies held in Malacañang.
— Philippine News Agency

DOTr eyes completion of 1,900 km of railway by 2022
The Department of Transportation (DOTr) is eyeing to complete about 2,000 kilometers of railway during the Duterte administration, its chief said on Tuesday.
— Philippine News Agency

 

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

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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