Philippines Morning News For October 27

PH targets 20K MW RE capacity by 2040
The Philippines’ roadmap on renewable energy (RE) targets a capacity of around 20,000 megawatts by 2040, according to Benito Ranque, undersecretary of the department of energy.
— Malaya

Manila ranks 32nd among top container ports
The Port of Manila outperformed other ports in Asia as it leaped four notches higher finishing at 32nd spot in the list of the 2016 top 100 container ports worldwide, according to the Lloyd’s List.
— Malaya

Human trafficking victims down in 2016
The number of victims of human trafficking dropped by 22.39 percent in 2016, the Philippine National Police Women and Children Protection Center (PNP-WCPC) said yesterday.
— Philstar

EU eyes €100-M grant for Marawi rehab
The European Union (EU) is looking to offer the Philippines a grant of as much as 100 million euros for the rehabilitation of war-torn Marawi City.
— Philstar

PH to compensate families of slain Vietnamese fishers
PRESIDENT Duterte has promised to compensate the families of two Vietnamese fishermen who died in a confrontation with Philippine Navy personnel off Bolinao town in Pangasinan on September 23.
— Malaya

PH, China to remain world’s fastest growing economies
The Philippines and China are projected to continue being the fastest growing countries in the world, bolstering trade links between the two countries in the next decades, said an economist.
— Philippine News Agency

EICC to fast-track approval of big-ticket energy projects
In a bid to fully implement a Malacañang-issued policy meant to fast-track the approval of energy projects, the Department of Energy (DOE) moved to designate agency officials to the Energy Investment Coordinating Council (EICC).
— BusinessMirror

Jack Ma would have been shocked at our telecoms industry
CHINESE mega-billionaire Jack Ma the other day told an audience that included executives of PLDT and Globe Telecoms, the two firms that make up the telecom monopoly in our country: “Your internet service is not good here.”
— The Manila Times

9 more fratmen linked to hazing death; 65 placed on lookout
A KEY witness in the death of a hazing victim identified nine more fraternity members who participated in the initiation rites as the Department of Justice (DoJ) widened its dragnet on alleged persons of interest in the case by placing 65 of them on the lookout bulletin of the Bureau of Immigration.
— The Manila Times

PHL keen on infrastructure bonds to reduce ODA reliance
The National Economic and Development Authority (Neda) is looking into other mechanisms, such as the issuance of infrastructure bonds, to bankroll the Duterte administration’s massive infrastructure program and, in the process, reduce the country’s reliance on concessional loans.
— BusinessMirror

Task force formed to help solve infra process gaps
An inter-agency task force was recently created to institute policies and processes to address bottlenecks and gaps in the country’s infrastructure development, according to the National Economic and Development Authority (NEDA).
— Philippine News Agency

Slow internet remark a wakeup call: PCC
The Philippine Competition Commission (PCC) intends to open up the telecommunication market to more players to stir competition that will result to better and affordable internet service in the country.
— Malaya

PH has much to gain from Duterte’s Japan trip
The country’s efforts to reconstruct war-torn Marawi and fight terrorism could get a boost when President Duterte goes to Japan for the second time later this month to meet with Prime Minister Shinzo Abe.
— Philippine Daily Inquirer

Who’s winning the Philippines’ e-commerce arena: local or international players?
Companies from small and medium enterprises (SME) to giant corporations are shifting to e-commerce to broaden their consumer base despite Philippines’ “mall culture. The Philippine e-commerce has the lowest retail e-commerce sales share against SEA markets but shows potential with its growing internet and smartphone penetration, rising middle class, and young population.
— Marketing-interactive

PNB raises P6.35-B long-term fund
The Philippine National Bank (PNB) was able to raise PHP6.35 billion from the issuance of its 5.5-year Long-Term Negotiable Certificates of Time Deposit (LTNCTD), proceeds of which will be used to boost its business.
— Philippine News Agency

What’s Next for China-Philippines Military Ties?
This week, the defense ministers from China and the Philippines held a bilateral meeting amid a series of interactions tied to Manila’s hosting of regional defense summitry. Though few specifics were unveiled, it did provide an opportunity to take stock of where China-Philippines security ties are now under Philippine President Rodrigo Duterte and what the future holds for them (See: “The Limits of Duterte’s China-US Rebalance”).
— The Diplomat

Would a Trump EAS Philippines Miss Matter for US Asia Policy?
Earlier this week, reports begun surfacing that U.S. President Donald Trump, while preserving his ambitious inaugural five-country trip to Asia next month, would cut short his trip and miss out on some mulled engagements including the annual East Asia Summit (EAS) in the Philippines. Though Trump missing the EAS would unquestionably be an unfortunate development, it also needs to be put into proper perspective within the broader context of U.S. Asia policy and where this new administration is.
— The Diplomat

P11B to be spent on fiber shift
PLDT Inc. is spending P11 billion in the next two years to upgrade its 1.3 million digital subscriber line (DSL) customers to fiber-fast internet connectivity.
— Malaya

So far, so good on security for PH’s ASEAN Summit hosting
The government has not monitored any clear or imminent terror attack to the upcoming regional summit in Manila, but has stepped up security measures for any eventuality, a senior police official said on Thursday.
— Manila Bulletin

Pres. Duterte renews pledge to make PH safe, progressive
President Rodrigo Duterte joined on Thursday, October 26, the 6th Philippine Professional Summit held in Manila, renewing his commitment to make the country safe, progressive and free from corruption and criminality.
— Philippine News Agency

Teachers assured of take home pay despite loan deductions
Education Secretary Leonor Briones on Thursday assured teachers and other Department of Education (DepEd) personnel that they will receive not less than the mandated P4,000-take home pay despite loan deductions due them.
— Manila Bulletin

San Miguel gives families of slain troops P2M each
CONGLOMERATE San Miguel Corporation is giving P2 million each in business capital families of the 165 soldiers and policemen who died in the just-concluded operations against the terrorist Maute Group in Marawi City.
— Malaya

Feature photo Marcin Gabruk
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.

Philippines Morning News For October 27 added by Leakhena Khat on October 27, 2017
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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.