Philippines Morning News For July 26

Philippines Morning News For July 26

Philippines morning newsPhilippines buys 250,000 tons of rice to boost stockpiles
THE NATIONAL FOOD AUTHORITY (NFA) purchased 250,000 metric tons (MT) of rice in a tender yesterday from suppliers in Vietnam, Thailand and Singapore, as it rushed to boost thinning state stockpiles.
— BusinessWorld Online

PH gov’t told to pay Maynilad over P3B for delayed tariff hike
The Philippine government will have to pay Maynilad Water Services Incorporated a total of P3.42 billion for losses incurred from delayed tariff adjustments, an arbitral tribunal ordered.
— Rappler

Duterte demands US return symbolic church bells
Philippine President Rodrigo Duterte has demanded the United States return church bells seized by American forces in a bloody campaign more than a century ago, in another blast at his country’s traditional ally.
— The News International

Thai military ready to aid Philippines
The Royal Thai Army (RTA) is ready to send troops to the restive city of Marawi to provide humanitarian aid if the Philippines seeks help from Thailand.
— Bangkok Post

Rodrigo Duterte pushing Philippines’ drugs market to Indonesia, anti-narcotics chief says
Indonesia’s anti-narcotics chief has declared Indonesia to have the “biggest” illicit drugs market in the world, revealing 72 international drug syndicates were detected last year.
— ABC Online

Tourist arrivals in Davao City down by 19%
TOURIST arrivals in Davao City dropped by 19 percent to 123,343 in June 2017 from 152,678 in the same period last year.
— Sun Star

Arbitral tribunal orders PH gov’t to pay P3.4-B to Maynilad
Consumer groups are urging government to check Maynilad’s books first before it complies with the Singapore-based tribunal’s ruling on delayed tariff rate implementation.
— ABS-CBN (video)

How to Set Up in the Philippines – New Issue of ASEAN Briefing Magazine
Within ASEAN, the Philippines has proved to be the least vulnerable country to external economic shocks. Sound macroeconomic fundamentals, a steady economic growth rate, and a steadfast commitment to good governance by successive governments in the last decade offer foreign investors a stable base to consolidate their ASEAN operations.
— Asean Briefing

Makati condo unit yields P2-M ‘shabu,’ cocaine, marijuana, Joanne Cuachon
Makati Mayor Abby Binay on Tuesday called on condominium administrators to implement security measures to prevent illegal drug activities within their premises following Monday night’s raid that yielded some P2 million worth of suspected “shabu” (methamphetamine hydrochloride), cocaine, marijuana and ecstasy.
— Philippine Daily Inquirer

US to help resolve PH efforts to recover Balangiga bells
The United States (US) government vowed to work with its Filipino partners to find a resolution to the attempts made by the Philippine government to recover the famous Bells of Balangiga that the US Army took from the town church of Balangiga in Eastern Samar as war booty after reprisals following the Balangiga incident in 1901 during the Philippine-American War.
— Manila Bulletin

2nd quarter business registration up by 118%
THE Davao City Investment and Promotions Center (DCIPC) noted a 118 percent increase in the number of renewed and newly-registered businesses to 4,610 during the second quarter of 2017 from 2,110 in the same period last year.
— Sun Star

AirAsia exec urges gov’t to scrap outbound travel tax for Pinoys
AIRASIA Group chief executive officer Anthony Francis Fernandes urged the Philippine Government to consider removing the travel tax on outbound Filipino tourists to stir up more international flights in the country particularly outside Metro Manila like Davao City.
— Sun Star

DA to inspect 25 meat plants in Brazil
The Department of Agriculture (DA) on Tuesday said it will inspect some 25 meat establishments in Brazil next month, following the temporary ban it imposed earlier on meat imports from the Latin American country.
— Business Mirror

Gov’t rejects bids for 20-year bonds as rates rise
THE GOVERNMENT rejected all bids for the reissued 20-year Treasury bonds (T-bond) it auctioned off yesterday due to weak investor demand amid offshore uncertainties and as the papers fetched higher rates.
— BusinessWorld Online

Govt to reduce carbon emissions
THE government is looking for ways to use alternative energy and reduce carbon emissions of the aviation sector in compliance with the International Civil Aviation Organization, and to make Philippine skies environment friendly.

RFM allocates P400M for capacity expansion
FOOD and beverage firm RFM Corp. said on Tuesday it is allocating P400 million this year for expansion, a portion of which will be spent to upgrade the equipment of its flour mill lines.
— The Manila Times

PSEi inches higher as consolidation continues
THE MAIN INDEX inched higher on Tuesday as investors seemed to gain confidence in the administration’s direction following President Rodrigo R. Duterte’s State of the Nation Address (SONA) on Monday.
— BusinessWorld Online

Tourism a ‘bright spot’ in PHL economy with PHP220-B revenues in first year
Setbacks did not slow Philippine tourism down as it continued to flourish in the first year of the Duterte administration in terms of foreign arrivals, revenues and staging of various international events.
— Philippine News Agency

Mining shares fall after Duterte threat to tax miners ‘to death’
MINING SHARES dropped on Tuesday, a day after President Rodrigo R. Duterte threatened to ban the export of metal ore, and to impose higher taxes on miners.
— BusinessWorld Online

China backs joint energy development with Philippines in disputed sea
China’s foreign minister on Tuesday said he supported the idea of joint energy ventures with the Philippines in the disputed South China Sea, warning that unilateral action could cause problems and damage both sides.
— Channel NewsAsia

Infra spending pickup points to GDP growth of 6.6% in Q2
THE expansion of government spending on infrastructure will support estimates of Gross Domestic Product (GDP) growing by as much as 6.6% in the second quarter from 6.4% three months earlier, Nomura Global Markets said.
— BusinessWorld Online

Duterte ends talks with Reds; to recruit 35000 fighters as counter-measure
President Rodrigo Duterte said he is moving for the recruitment of additional 20,000 soldiers and 10,000 to 15,000 police commandos formally known as Philippine National Police (PNP)-Special Action Force (SAF). The President revealed this in a press conference after delivering his State of the Nation Address speech.
— Update Philippines

Duterte: Donor to grant P1M each to kin of slain soldiers,cops in Marawi
AN ANONYMOUS donor will grant P1 million each for the families of policemen and soldiers slain in the ongoing armed conflict in Marawi City, President Rodrigo Duterte announced on Monday.
— Sun Star

64,032 drug surrenderers in Davao Region since July 2016
IN A span of one year, the Police Regional Office (PRO)-Davao has recorded a total of 64,032 drug surrenderers from July 2016 up to July this year across the region during their intensive anti-drug campaign.
— Sun Star

BPI launches microfinance bank to target underserved entrepreneurs
Ayala-led Bank of the Philippine Islands (BPI) launched a microfinance bank to target an emerging and underserved sector of the market in the name of financial inclusion.
— Rappler

DOH: In May alone, 15 died of AIDS
Fifteen persons died from acquired immunodeficiency syndrome (AIDS) in May when 1,098 new cases of human immunodeficiency virus (HIV) were reported, according to the Department of Health (DOH).
— Philippine Daily Inquirer


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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