Gov’t plans $1-B global bond sale
THE NATIONAL GOVERNMENT plans to raise $1 billion from a global bond sale to help finance next year’s P3.767-trillion national budget, which now awaits legislative approval, documents from the Bureau of the Treasury showed.
— BusinessWorld Online
House cuts funding for 3 gov’t agencies to P1,000 each
The House of Representatives has approved a P1,000 budget for three government agencies for 2018 in plenary debates.
PH trade deficit narrows in July to $1.65-B
Currency, stocks and bond trading in the country were suspended due to the bad weather, but several corporate developments still moved throughout the day. The local bourse is expected to sway investor sentiment for the rest of the week.
— ABS-CBN (video)
PHL, Brunei see stronger halal-industry partnership
THE Department of Trade and Industry-Export Marketing Bureau (DTI-EMB), together with the Zamboanga City Special Economic Zone Authority (Zambo ecozone), conducted a trade, investments and technical-assistance mission in Brunei Darussalam to seek stronger partnership with its counterpart in the country during the two-day official visit on August 14 and 15.
— Business Mirror
Unilever PHL gives workers 120 days paid maternity leave
UNILEVER Philippines has issued a new company policy granting its employees a minimum of 120 days of paid maternity leave, in line with the consumer goods giant’s new Global Maternal Wellbeing Standards.
— BusinessWorld Online
ING sees peso weakening anew
Dutch financial giant ING Bank said it expects the peso to weaken anew against the US dollar toward the end of the month after piercing the 50 to $1 level due to the seasonally high import demand.
— The Philippine Star
Razon sells 3.18% stake in Bloomberry
Ports and casino tycoon Enrique Razon Jr. has trimmed his stake in Bloomberry Resorts Corp., the operator of Solaire Resort & Casino, a move which is seen to widen public ownership.
— The Philippine Star
Philippines seeks to expand tropical fruit exports to Japan, Korea & AU
The Philippines has pushed for better market access for its export products to key trading partners during bilateral talks held on the sidelines of the 49th Asean Economic Ministers (AEM) Meeting and Related Meetings that ended yesterday.
— Fresh Plaza
BPI ties up with WorldRemit to target OFW remittances
Ayala-led Bank of the Philippine Islands (BPI) partnered with UK-based remittance giant WorldRemit in a bid to capture more of the overseas Filipino worker (OFW) remittance market.
Philippine Congress Backs Annual Budget of Just $20 for Agency Probing Drugs War
Philippine lawmakers allied with President Rodrigo Duterte on Tuesday voted to allocate an annual budget of just 1,000 pesos ($19.66) to the Commission on Human Rights, a public body investigating Duterte’s bloody war on drugs.
— U.S. News & World Report
Philippines: Prime Metroline sells stake in Bloomberry Resorts for $74.6m
Philippine-based Prime Metroline Holdings Inc has sold shares in local listed firm Bloomberry Resorts Corp for about $74.6 million (P3.8 billion).
— Deal Street Asia
Duterte certifies proposed 2018 national budget as urgent
President Rodrigo Duterte certified the proposed P3.767 trillion national budget for 2018 as urgent “to ensure budgetary preparedness that will enable the government to effectively perform its Constitutional mandate.”
— Philippine Canadian Inquirer
P5M given to 8 PDEA informants
THE Philippine Drug Enforcement Agency yesterday gave more than P5 million to eight civilian informants who helped in the arrest of drug suspects, seizure of illegal drugs, and dismantling of shabu labs and drug dens under Oplan Private Eye (OPE).
Trade gap narrows
The Philippine Statistics Authority reported that the country’s total trade recorded a 2.3 percent growth in July 2017, higher than the previous month’s 1.5 percent growth.
PH manufacturing output drops
MANUFACTURING declined 1.1 percent in July 2017 from a 12.1-percent expansion year-on-year, pulled down mostly by double-digit decreases in the output of chemical products, textiles and rubber and plastic products, data from the Philippine Statistics Authority on Tuesday show.
P3.9B SALES; Upscale condo ready to launch 4th tower
Ayala Land Premier, the Ayala Group’s high-end property development arm, said it expects to launch the fourth tower of its fast selling project Arbor Lanes in Arca South after generating P3.9 billion worth of sales in the first eight months of the year.
First PH subway line finally approved for implementation
The National Economic Development Authority (NEDA) Board finally approved the Metro Manila Subway Project (MMSP) – Phase 1 project as presented by Department of Transportation (DOTr) Secretary Arthur P. Tugade, the DOTr said.
— Update Philippines
42nd Makati centenarian gets P100,000 cash gift
The Makati local government awarded P100,000 cash gift to the 42nd centenarian as part of the city’s grateful tribute to its elderly citizens.
— Manila Bulletin
Coconut exports may earn $6 billion annually
The country’s coconut industry, albeit on a sluggish trend, could be the agriculture sector’s saving grace and could potentially earn up to $6 billion in exports annually if the government strengthens the implementation of hybrid technology in this sector.
— Manila Bulletin
SSS interested to invest in PPP infrastructure
THE Social Security System has expressed interest to enter into public private partnership (PPP) infrastructure investments as it awaits the passage of the Social Security Reform Act of 2017.
— Sun Star
Philippines’ AC Energy keen on renewables in Vietnam
AC Energy Holdings Inc., the power generation unit of conglomerate Ayala Corp., has unveiled a plan to build renewable energy plants with a combined capacity of several hundred megawatts in Vietnam over the next two to three years.
— Vietnam Economic Times
Jobless ranks swell in July
THE Philippine job market lost some momentum in July as unemployment slightly worsened from a year earlier, the Philippine Statistics Authority (PSA) reported on Tuesday.
— The Manila Times
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.
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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