Philippines Morning News For October 18

Philippines Morning News For October 18
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Philippines morning newsPH exports to EU seen topping $10B
Philippine exports to the European Union could top $10 billion with companies continuing to benefit from the Generalized System of Preferences Plus (GSP+) scheme.on with companies continuing to benefit from the Generalized System of Preferences Plus (GSP+) scheme.
The Manila Times 

Vehicle sales zoom 16% in 9 months
Vehicle sales accelerated double digits in the first three quarters this year despite a slowdown in September.
Philstar 

Can PHL wean itself off coal?
A REPORT for educational and informational purposes by the Institute for Energy Economics and Financial Analysis (IEEFA) and the Institute for Climate and Sustainable Cities (ICSC) provides an overview of the country’s coal sector.
BusinessMirror 

Duterte to jeepney drivers, operators: Modernize by year-end or get out
President Rodrigo Duterte warned jeepney operators and drivers he would drag away their jeepneys if they fail to comply with the government’s public utility vehicle (PUV) modernization program by the end of the year.
Rappler

Govt eyes incentives for local PUV makers
Domestic public utility vehicle (PUV) manufacturers will be given “more favorable incentives” to make them more competitive amid government plans to modernize the transportation sector, a Cabinet official said.
The Manila Times 

Pres. Duterte declares liberation of Marawi City
President Rodrigo Roa Duterte on Tuesday, October 17, declared that Marawi City has been liberated from terrorists after more than four months of battle against the ISIS-inspired Maute group.
Philippine News Agency 

Philippine military pushes to defeat last Marawi fighters
Gunfire rang out sporadically and explosions thudded as Philippine soldiers fought Tuesday to regain control of the last pocket of Marawi controlled by Islamic militants, with President Rodrigo Duterte declaring the southern city liberated from “terrorist influence.”
Post Gazette 

China Gives New Equipment to Philippines for Marawi Recovery
Last week, China delivered some heavy equipment to the Philippines as the Southeast Asian state undertakes a major rehabilitation effort in the southern city of Marawi. An ongoing conflict in Marawi between Islamic State-backed militants and government forces had erupted back in May and is set to end soon. The development was yet another sign of Beijing’s growing security ties with Manila, a longtime U.S. treaty ally, under President Rodrigo Duterte.
The Diplomat 

CBCP belies ‘fake news’ on prelate denouncing terror leaders’ death
The Catholic Bishops’ Conference of the Philippines (CBCP) cried foul over a viral post claiming that its president Archbishop Socrates Villegas condemns the killing of top terrorist leaders Isnilon Hapilon and Omar Maute in Marawi City, tagging it as fake news.
Philippine News Agency 

PH-EU economic ties remain strong
The Department of Trade and Industry (DTI) and the European Chamber of Commerce of the Philippines (ECCP) reaffirmed strong economic relations of the Philippines and the European Union (EU).
Philippine News Agency 

Duterte gives transport groups until end of 2017 to comply with PUV modernization
President Duterte has given transport groups until the end of the year to comply with the government’s modernization program for public utility vehicles.
Manila Bulletin

EU keen to hike bilateral trade, investment with PH
The European Union (EU) is keen to increase bilateral trade and investment with the Philippines to support its inclusive growth agenda crucial to poverty reduction.
Philippine News Agency 

Calata rejects PSE’s voluntary delisting proposal
Listed agribusiness Calata Corporation declined the offer of the Philippine Stock Exchange (PSE) to take the voluntary delisting route, saying conducting a tender offer to small shareholders is “grossly impractical” and “will kill the company.”
Rappler 

Duterte says he’s not keen on extending his term
His recent statements about declaring a revolutionary government do not mean he wants to extend his term, said President Rodrigo Duterte on Tuesday, October 17, during a speech in Camarines Sur.
Rappler 

Investor confidence ‘strong’ — IMF
INVESTOR SENTIMENT remains favorable for the Philippines despite increased political noise, an official of the International Monetary Fund (IMF) said, noting that general optimism should buoy growth prospects.
BusinessWorld 

Meralco’s sales growth seen below 5% in 2017
MANILA ELECTRIC Co. (Meralco) may not be able to hit the 5% energy sales growth it earlier projected for this year based on initial figures for the nine months to September and expectations for the rest of the year, its top official said on Tuesday.
BusinessWorld 

‘Impeachment could cripple Senate’
SEN. Panfilo Lacson on Tuesday warned that legislative work in the chamber would be “crippled” if the impeachment trial of resigned Commission on Elections (Comelec) chairman Andres Bautista pushed through.
The Manila Times 

Lawmaker urges govt to contest P3.4B tribunal’s award to Maynilad
A LAWMAKER on Tuesday called on the Duterte administration to exhaust all legal means to contest the P3.4-billion compensation awarded by an Arbitral tribunal to Maynilad Water Services, Inc.
The Manila Times 

Banks’ real estate exposure excludes infra projects – BSP
Infrastructure projects are not included in the computation of the real estate and project finance exposures of big banks, according to the Bangko Sentral ng Pilipinas.
Philstar

Filipinos favor unrestricted executive power
Fifty-five percent of respondents polled in India say a system in which a strong leader can make decisions without parliamentary or judicial interference is a “somewhat” or “very” good way of governing their country, according to a Pew Research Center survey released on Monday.
BusinessMirror 

The 2018 national budget
It is at this time of the calendar year when the national budget for the next fiscal year (2018, in this case) approaches the last stages of finalization in Congress, in time for final enactment before the start of the budget year.
BusinessMirror 

‘Few PHL firms have cybersecurity risk cover’
AIG Philippines, an American nonlife-insurance company, said more businesses, especially the data-driven ones, should consider cyber-insurance cover to strengthen the protection of sensitive customer data.
BusinessMirror 

 

Feature photo Andrew and Annemarie
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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