Philippines Morning News For October 11

Philippines Morning News For October 11

Philippines morning newsIMF, AMRO see slower PHL growth for this year
THE PHILIPPINES will likely remain a growth leader in Southeast Asia, the International Monetary Fund (IMF) and regional think tank ASEAN+3 Macroeconomic Research Office (AMRO) said, pencilling a 6.6% forecast for 2017 compared to 2016’s 6.9%.
Business World 

Philippines earns WB praises for support of migrant workers
WHILE intra-Asean migration significantly rose during the past decade, more Filipinos were able to find greener pastures outside the region, thanks to government policies that reduced costs for migrant workers, the World Bank said on Monday.
The Nation

Senators hit 70% cut in housing budget
SENATORS Franklin Drilon and Joseph Victor Ejercito on Tuesday deplored the 70% reduction in the proposed budget of the housing sector next year—from P15.3 billion in 2017 to P4.5 billion in 2018.
The Manila Times

July flows worsen FDIs’ year-to-date fall
NET foreign direct investment (FDI) inflows fell for the first time in three months in July to the smallest amount in over a year, according to central bank data yesterday that also showed investors rebalancing to equity capital from debt instruments.
Business World

Islamic State’s backdoor to the Philippines
At every stroke of midnight, Sarangani township on the southern Philippine island of Mindanao is plunged into darkness until the break of dawn as electricity is cut to save on scarce energy.
Asia Times 

PHL to lift ban on Brazilian meat imports
The Philippine government may lift the ban on meat imports from Brazil this month following an inspection of meat plants in the Latin American country, according to Agriculture Secretary Emmanuel F. Piñol.
BusinessMirror 

Rice inventory declined by nearly 20% in September
The country’s rice inventory as of September 1 declined by almost 20 percent to 1.422 million metric tons (MMT), from 1.775 MMT a year ago, according to the latest report of the Philippine Statistics Authority (PSA).
BusinessMirror 

Critics told President Duterte his honeymoon period is over
Critics of President Rodrigo Duterte on Monday called on the government to rethink the war on drugs and to stop the extrajudicial killings following the president’s 18-point drop in popularity rating, The Manila Times Online reported on Tuesday.
Thai PBS 

Senate approves P10.2B DAR budget for 2018
THE Senate has approved the P10.27 billion proposed budget of the Department of Agrarian Reform (DAR) for 2018.
The Manila Times 

Trade balance still in deficit despite rise in exports
Exports extended their growth trajectory for the ninth consecutive month in August, driven by double-digit growth in shipments to ASEAN, EU and other Asian trade partners, the Philippine Statistics Authority (PSA) said yesterday.
Philstar 

Factory activity rebounds in August
Manufacturing activities picked up pace in August following a contraction in July mainly due to the increased production of construction-related materials, the Philippine Statistics Authority (PSA) said.
Philstar 

Smart transportation seen gaining ground
Integrated mobility solutions are expected to compete with private car ownership and public transport, business consulting firm Frost & Sullivan said.
The Manila Times 

Peso, ore prices boost Nickel Asia shipment value
NICKEL Asia Corp. (NAC) said on Tuesday that the estimated value of shipments in the first nine months of the year rose by 16 percent to P11.65 billion driven by higher ore prices combined with a weaker peso exchange rate.
The Manila Times 

SC upholds drug raps vs de Lima
SEN. Leila de Lima will stay in detention as the majority of Supreme Court (SC) justices voted to deny her petition to dismiss drug-related charges and nullify the arrest order issued against her by a Muntinlupa court.
The Manila Times 

DILG defends drug war drop boxes
The Department of the Interior and Local Government on Wednesday stood by its plan to put up drop boxes for anonymous tipsters to put in the names of drug suspects and corrupt officials.
ABS-CBN

PH’s largest water project gets approval from Davao City council
An Aboitiz-led joint venture has passed a legal hurdle here as it gained a majority vote from the city council to establish a P10-billion water treatment facility.
Rappler 

Manila cruise port to open before end of Duterte term
To meet the growing demand for cruise lines in key Philippine destinations, a cruise port facility will be opening in Manila before the end of the Duterte administration in 2020.
Philippine News Agency 

PH 1st country to get global extractives transparency standard
The Philippines is the first country to have successfully obtained a ‘satisfactory progress’ assessment under the 2016 Extractive Industries Transparency Initiative (EITI) Standard.
Philippine News Agency

DPWH to use drones, geotagging to combat ghost projects
The Department of Public Works and Highways (DPWH) is transitioning to a new monitoring system, which aims to use technology to track the accomplishment of public works and infrastructure.
Rappler 

Australia Warships Move to Philippines Amid Big Asia Military Deployment
This week, Australian warships docked in the Philippines for a goodwill visit as part of one of the largest coordinated task group deployments by Canberra to the region in decades. The interaction put the spotlight on the Australia-Philippine defense relationship as well as Australia’s security role in the region more broadly.
The Diplomat

New York plot suspect to fight extradition from Philippines
A Filipino doctor accused of wiring money for a foiled jihadist plot targeting New York’s subway and Times Square rejects the allegations and has vowed to fight US extradition, his lawyer said Tuesday.
ABS-CBN 

Duterte hopes Marawi crisis over in one week
President Rodrigo Duterte on Tuesday said he hopes the crisis in Marawi would be resolved in one week, as the military makes its final push to liberate the strife-torn Islamic city.
ABS-CBN 

Growth forecast for PH lowered
Think-tank Asean+3 Macroeconomic Research Office (Amro) has cut its 2017 and 2018 growth forecasts for the Philippines partly on the back of slower investment and consumption in the first half even as it flagged risks related to the government’s delivery of its ambitious infrastructure plan.
Philippine Daily Inquirer 

PAL to launch Cebu-Bangkok flights
Flag carrier Philippine Airlines (PAL) is opening up flights between Cebu and Bangkok, Thailand ahead of the Christmas holiday season—in response to strong demand and growing congestion in the country’s main gateway in Manila.
Philippine Daily Inquirer 

Dominguez eyes higher sin tax collection from JTI
Finance Secretary Carlos Dominguez III said government revenues from sin taxes will get further boost in 2018 as Japan Tobacco Inc. (JTI) pays the remaining tax deficiencies of Mighty Corp., which it recently bought.
Philippine News Agency 

Intensify anti-drugs operations, mayor urges police
Dumaguete Mayor Felipe Antonio Remollo has directed the city police chief to intensify their operations against illegal drug suspects through house-to-house and barangay visitations.
Philippine News Agency 

WB: PH can serve as model for migrant workers’ support system
Other Association of Southeast Asian Nations (ASEAN) members can adopt the Philippine support system for its migrant workers, the World Bank (WB) said, as it called on easing restrictions on labor migration to boost workers’ welfare and accelerate regional economic integration.
Philippine News Agency 

Chanel plans to open store in PHL by first quarter of 2018 –D.O.T.
French luxury brand Chanel is set to open its first outlet in the Philippines by the first quarter of 2018.
BusinessMirror 

Workers in retail, BPO may lose jobs due to automation–Unctad
Over 80 percent of workers in the retail and business-process outsourcing (BPO) sectors are at “high risk” of losing their jobs due to automation, according to the United Nations Conference on Trade and Development (Unctad).
BusinessMirror 

EDITORIAL – Out of school, unemployed
Approximately 4.2 million youths are out of school or unemployed and face bleak job prospects, according to data from the Department of Labor and Employment. That’s 21.7 percent of the 19.84 million youths in the country. The DOLE report estimated that 3.14 million of the youths do not have access to education or skills training and employment due to poverty, health problems and lack of required qualifications.
Philstar

 

Feature photo Bernard Spragg. NZ
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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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