Philippines Morning News For September 22

Philippines Morning News For September 22

Philippines morning newsPhilippines worst in impunity in global index
The Philippines is seen as the worst in terms of impunity in 2017, according to results from the latest Global Impunity Index (GII) of the University of the Americas Puebla (UDLAP) and the Center of Studies on Impunity and Justice (CESIJ).
— Rappler

Peso weakens on Fed
THE PESO weakened anew yesterday to return to the P51 level as hawkish statements from the United States Federal Reserve boosted the dollar.
— BusinessWorld Online

Thousands rally in Philippines, warn of Duterte ‘dictatorship’
Thousands of Filipinos rallied on Thursday to denounce Philippines President Rodrigo Duterte and warn of what they called an emerging dictatorship, in a major show of dissent against the controversial but hugely popular leader.
— Yahoo Singapore News

Philippines: MRC Allied buys stake in solar power firm Sepalco for $5m
Property developer MRC Allied Inc has invested anew in renewable power generation in the Philippines acquiring 15 per cent stake in solar power firm Sulu Electric Power and Light Phils Inc (Sepalco) for $5 million (P255 million).
— Deal Street Asia

Stock rally breaks intraday record
The main stock barometer pierced the 8,300 mark yesterday to set a new intraday record as investors shrugged off nationwide protests against the Duterte administration to focus more on economic fundamentals such as interest rate movement and the tax reform bill.
— The Philippine Star

CLI to launch P10.6-billion projects in Q4
CEBU LANDMASTERS, Inc. (CLI) will be launching P10.61 billion worth of projects in the last quarter of 2017 as it further expands its presence in the Visayas and Mindanao regions.
— BusinessWorld Online

Powering capital markets for more inclusive growth
A lot has been accomplished in reforming the Philippines’s capital markets over the past decade, from the diversification of financial institutions’ offerings, to the introduction of more corporate debt securities to investors.
— Business Mirror

Mighty Corporation will pay for Marawi rehab – Duterte
President Rodrigo Duterte said he will fund the rehabilitation of Marawi City using money from “guys who didn’t turn over their proper taxes” like Mighty Corporation, the tobacco firm that has been slapped with a high-profile tax evasion charge.
— Rappler

NEDA’s Pernia says ‘miracle’ if 2017 GDP hits 7.5%
THE GOVERNMENT’S chief economic planner said it would take a “miracle” to hit the high end of the official growth target for 2017, even with the outlook positive due to a resurgence in exports and strong infrastructure spending.
— BusinessWorld Online

ODA assistance loans hit $10.8b, says Neda
Official development assistance loans from international donors and foreign countries hit $10.797 billion as of end-June, the National Economic and Development Authority said Thursday.
— Manilastandard.net

Megaworld to spend P4.5 billion in 4 years for Twin Lakes in Tagaytay
Andrew Tan-led Megaworld subsidiary Global-Estate Resorts Incorporated (GERI) announced it is planning to spend P4.5 billion in 4 years to accelerate the development of projects in its 1,200-hectare Twin Lakes township near Tagaytay.
— Rappler

BPO investments falling
New investment pledges in the IT-BPM industry registered through various promotion agencies fell 34 percent in the second quarter from a year ago, continuing the decline in one of the country’s top dollar earners that the trade chief had partly attributed to the uncertainty in US policy.
— Philippine Daily Inquirer

Government to hike tobacco floor prices
The National Tobacco Administration (NTA) will increase by P1 to P3 the floor prices of tobacco for trading years 2018-2019, after farmers and the private sector reached an agreement on Tuesday.
— Business Mirror

OFW Bank mulled
The Department of Finance (DOF) has submitted to President Duterte, for his approval, the draft executive order which will execute the transfer of the Philippine Postal Savings Bank to the Land Bank of the Philippines, where it will be transformed as the latter’s remittance marketing arm.
— Malaya

People in the Philippines Still Favor U.S. Over China, but Gap Is Narrowing
Rodrigo Duterte claimed the presidency of the Philippines in May 2016, and six months later Donald Trump won the U.S. presidency, capping a year of electoral surprises around the world. While Trump’s first months in office have had a major impact on worldwide perceptions of the U.S., people in the Philippines still like the U.S. and have confidence in its leader.
— Pew Research Center

BSP holds key rates steady
As the country’s inflation environment is expected to remain manageable, the policymaking body of the Bangko Sentral ng Pilipinas yesterday moved to keep key rates steady.
— Malaya

Current account to end in surplus on recovery of exports, imports
THE PHILIPPINES could see its current account return to a modest surplus on the back of expectations that external trade will recover during the second semester, an analyst from a global bank said.
— BusinessWorld Online

DA sets aside P4.9-B for dairy, livestock
The Department of Agriculture (DA) is allocating nearly P5 billion for the development of the local livestock and dairy industries to increase their contribution to overall farming.
— The Philippine Star

DoubleDragon seeks SEC nod forP6.75-B follow-on offering
PUBLICLY-LISTED DoubleDragon Properties Corp. (DD) has filed a preliminary prospectus with the Securities and Exchange Commission (SEC) for a P6.75 billion follow-on offering to enhance trading liquidity and strengthen the company’s balance sheet with higher equity levels.
— The Manila Times

Islamists lure Pinoy youngsters with payments, promise of paradise
When he saw his commander holding the severed head of one of his neighbors, teenage Islamist fighter Jalil knew it was time to escape from Marawi City.
— Manila Bulletin

Duterte plans to lift martial law in Mindanao when Marawi conflict ends
President Duterte is inclined to lift martial law in Mindanao once the fighting in Marawi City is over.
— Manila Bulletin

‘MRAs not enough to ease Asean labor flow’
Improving intra-regional labor access in the Asean will take more than the completion of Mutual Recognition Agreements (MRAs), according to local and international experts.
— Business Mirror

QC bans Pokemon GO lure spots near schools
The Quezon City Council has passed a resolution prohibiting the placing of lure spots for the popular game Pokemon GO near government offices, schools and places of worship within the city.
— The Manila Times

PH signs treaty banning nuclear weapons
The Philippines has signed a United Nations (UN) treaty banning nuclear weapons, as it called on other member states to join the international community in making the world a safer place.
— Update Philippines

Do not repeat Marcos deeds, say protesters
PROTESTERS from cause-oriented groups urged President Rodrigo Duterte not to repeat the deeds of the late dictator Ferdinand Marcos by promoting tyranny and suppressing the opposition.
— Sun Star

All will end up victims of Duterte’s drug war
I struggled to keep tears at bay at the launch of the Movement Against Tyranny (MAT) as a woman shared how she lost her father and brother to President Rodrigo Duterte’s drug war and how her family had ransomed shelter and everything they owned for her life.
— UCA News

P5-B proposed for development of livestock, poultry
A P5-BILLION national budget for 2018 is being proposed by the Department of Agriculture especially for the development of the poultry and livestock industry, a Bureau of Animal Industry (BAI) official said.
— Sun Star

Gov’t allocates P518-M road aid for MisOr
Soon dirt roads in the province of Misamis Oriental will be cemented following its inclusion in the priority project of the Department of the Interior and Local Government’s (DILG) Conditional Matching Grant to Provinces (formerly known as Konkreto at Ayos na Lansangan ang Daan Tungo sa Pangkalahatang Kaunlaran or Kalsada Program).
— Philippine Information Agency

Bacolod diocese to ring church bells for 40 days
All Catholic churches here will ring their bells every night for 40 days starting Saturday, September 23.
— Rappler

 

Feature photo Department of Foreign Affairs and Trade
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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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.

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