Philippines Morning News For September 11

DOF: Tax collection from ‘sin’ products to hit P150B in 2018
Tax collection from “sin” products is seen expanding by 4.7 percent to P150.2 billion in 2018 against the 2017 target of P143.5 billion, according to the Department of Finance (DOF).
— Business Mirror

DBS raises PH current account deficit forecast
Singapore-based bank DBS expects the Philippines to post a higher current account deficit this year and the next but notes that the economy has enough buffers to counter the impact.
— The Manila Times

Peso to rise on dollar volatility
THE PESO may sustain its rally this week as the dollar remains weak, with negative news in the United States leaving investors less upbeat, dampened further by the impact of a hurricane that was bound to hit over the weekend.
— BusinessWorld Online

Milled-rice output seen hitting 12.6 MMT
The country’s milled-rice production this year could grow by 3.87 percent to 12.6 million metric tons (MMT), from 12.13 MMT in 2016, due to favorable weather conditions, according to the United Nation’s Food Agriculture Organization (FAO).
— Business Mirror

Market may test 8,150 this week
The stock market may test the 8,150 mark this week after taking a defensive stance last week on continued rising geopolitical tensions caused by North Korea, traders said.
— The Philippine Star

TV shows seen to boost Japanese tourists in PHL
POPULAR television shows in Japan have been featuring the Philippines throughout the year, which are expected to help the Department of Tourism (DOT) reach its targeted 600,000 Japanese visitor arrivals for 2017.
— Business Mirror

Infra spending up 25% in July
Public infrastructure spending rose by a quarter in July owing to the completion of projects under the Departments of Public Works and Highways (DPWH) as well as of National Defense (DND).
— Manila Bulletin

DBP releasing P1.5b for modern jeepneys
The Department of Transportation is set to receive P1.5 billon from state-owned Development Bank of the Philippines for the initial implementation of the government’s Public Utility Vehicle Modernization Program.
— Manilastandard.net

PPA nets P5.6B income, up 20%
The Philippine Ports Authority (PPA) has reported a net income of P5.58 billion in January to July this year, 20 percent higher than P4.63 billion posted a year earlier.
— Malaya

P52.4M budget for landfill rehab approved
ALMOST nine months after the Court of Appeals (CA) ordered the permanent closure of the Inayawan Sanitary Landfill, the Cebu City Council approved P52.4 million to cover expenses in the rehabilitation of the facility.
— Sun Star

SC poised to affirm validity of de Lima’s arrest
The Supreme Court (SC) is poised to deny the petition of Sen. Leila de Lima seeking to nullify her arrest and the filing of drug-related charges against her before courts in Muntinlupa City, a reliable source of The Manila Times in the High Court revealed over the weekend.
— The Manila Times

Consumer confidence declines in PH during Q3 2017
Confidence among Filipino consumers declined in the 3rd quarter of the year, as conflict in Marawi City continues, rainy season starts, and bird flu scare happens.
— Rappler

Drug rehab to get P2 billion cut under 2018 nat’l budget
Senate President Pro Tempore Ralph Recto questioned the P2.31-billion budget cut on the proposed funds for operations of government-run drug rehabilitation centers under the 2018 national budget bill on Saturday, September 9.
— Rappler

Yields on gov’t debt flat on Fed rate hike doubts
YIELDS on government securities ended flat last week due to investor preference for bonds over shorter-dated securities amid doubts on the possibility of another US rate hike before yearend.
— BusinessWorld Online

Port operator raises P1B
International Container Terminal Services Inc. said it raised P1.05 billion through the sale of treasury shares.
— Malaya

More OFW households using remittances for investments – survey
More households are investing the money sent home by Filipinos working abroad as global financial markets stabilized, results of a quarterly survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed.
— The Philippine Star

Port cargo volume expands 7% in H1
Total cargo volume handled by the country’s ports grew 7.42 percent in the first six months from a year ago amid favorable business climate, according to the Philippine Ports Authority (PPA).
— The Philippine Star

China, Philippines to expedite work on cooperative projects
China and the Philippines agreed to speed up the pace of their cooperative projects, hoping to make vital progress within this year, a Chinese commercial official said on September 9.
— Vietnam Plus

MPIC tollways unit sees P3.46-B revenue by 2020
Metro Pacific Investments Corp. (MPIC) unit Metro Pacific Tollways South Corp. wants to grow its revenue to P3.46 billion by 2020 as it expects growth in traffic both from existing and new tollways projects.
— The Philippine Star

Japan, PH sign cooperation on Emergency Warning Broadcasting System
Japan and Philippines signed the Memorandum of Cooperation on Emergency Warning Broadcasting System and Data Broadcasting of Digital Terrestrial Television Broadcasting on September 9 at the Seda Vertis North Hotel in Quezon City.
— Update Philippines

LTFRB eyes generic franchise for Grab, Uber, U-Hop
Within the month, the Land Transportation Franchising and Regulatory Board (LTFRB) will come out with new regulations governing the app-based transport industry, including the extension of the validity of franchises given to drivers and the establishment of a common pool.
— Philippine Daily Inquirer

Cagayan Valley produces 184,000 cattle annually
The Cagayan Valley Region is contributing much to the country’s food security as it produces at least 184, 000 cattle annually, an official of the Department of Agriculture (DA) region 2 said.
— Philippine Information Agency

Metro Manila’s 9th most wanted nabbed for drunk driving
By sheer luck, the police captured a high-value government target, the alleged head of a criminal gang operating in parts of Metro Manila and Rizal province, after he figured in an accident while driving drunk.
— Philippine Daily Inquirer

Feature photo Adam Cohn
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 September 11 added by Stella-maris Ewudolu on September 11, 2017
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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.