Philippines Morning News For September 6

Tourism revenues rose 67.93 percent to P885 billion in 2014–PSA data
Philippine tourism revenues surged to nearly to a trillion pesos in 2014, according to data released by the Philippine Statistics Authority (PSA).
— Business Mirror

Peso inches up on inflation data
THE PESO closed barely changed for the third straight session yesterday, picking up slightly as the dollar grew weaker across a host of currencies and with domestic inflation boosting confidence towards the currency.
— BusinessWorld Online

Is Duterte’s family involved in the drug trade?
“My advice to all? If you are called to the Senate…sign it,” exclaimed Philippine President Rodrigo Duterte amid calls for a Senate investigation into allegations against his son Paolo and kin who have been accused of facilitating large-scale drug smuggling in the city of Davao.
— Asia Times

Inflation rises to 3.1% in August
Inflation, the movement of prices of basic goods and services, continued its upward trend as it rose to 3.1% in August from 2.8% in July.
— Rappler

Philippines: US to provide $15 million for Recovery, Rehabilitation of Marawi
The United States announced Tuesday it was providing the Philippines with 730 million pesos (U.S. $15 million) in fresh assistance to support relief and rehabilitation efforts in the southern city of Marawi, where the military said the battle to flush out Islamic State-linked militants was in its final stages.
— Benar News

Entering the Philippine Market: Comparing Models
Under the Foreign Investment Act, 1991, which was amended in 2015, a vast majority of industries in the Philippines are completely open to overseas investment, allowing 100 percent foreign ownership in most cases. The country managed to attract over US$ 7 billion of FDI in 2016, 25 percent more than the previous year. The UNCTAD World Investment Prospects survey positions the Philippines as the 11th most promising host country for investment over the period 2016-18.
— Asean Briefing

Thousands of Philippine schools set to see the light
More than 7,000 Philippine public schools “still in the Dark Ages” will get electricity in 2018 with a special $60 million fund for the Education Department, a senator announced Sept. 4.
— UCA News

Perks seen needed for in-country ore processing
THE GOVERNMENT’S push to extract more value from the country’s mineral resources by requiring more downstream operations to be performed in-country should be encouraged, along with incentives to attract more investors, a legislator said.
— BusinessWorld Online

Philippines’ President says open-pit mining ban should stay
Philippines’ President Rodrigo Duterte said on Tuesday he believed the controversial ban on open pit mining imposed by former Environment Secretary Gina Lopez should remain in place given the environmental damage it causes, but noted he would give companies time to find alternative mining methods.
— Mining.com

Duterte to allow media on drug raids to disprove extrajudicial killings
President Rodrigo Duterte has ordered police to let journalists join raids in his crackdown on illegal drugs to disprove growing allegations of extrajudicial killings, but he warned reporters they could get shot.
— Associated Press

The scourge of HIV, the internet, and sex tourism
It was a day of courage and resilience for Isabel, a 14-year-old child, who could not endure the pain and hurt and fear of sexual abuse by her grandfather any longer.
— UCA News

PH shares make last-minute jump
The lingering threat of more North Korea nuclear tests kept a lot of Asian investors on edge anew. Philippine shares got dragged for most of the day, up until a last minute u-turn in some blue chips.
— ABS-CBN (video)

ERC OKs P52-billion VisMin grid interconnection project
Power-resource sharing between the country’s major islands will soon become a reality, following the regulators’ approval of the National Grid Corp. of the Philippines (NGCP) P52-billion grid interconnection project proposal.
— Business Mirror

Microsoft backs DepEd’s digital transformation
TECHNOLOGY firm Microsoft said Tuesday it was strengthening the local education sector’s digital evolution with the right technologies to empower every student.
— The Manila Times

House slashes ERC budget from P351 M to P1,000
The House of Representatives yesterday reduced the proposed 2018 budget of the Energy Regulatory Commission (ERC) from P351 million to just P1,000.
— The Philippine Star

US pledges to return Philippine church bells but unsure when
The United States is committed to returning three church bells seized by American forces as war spoils from the Philippines more than a century ago, the U.S. ambassador said Tuesday, raising the prospects of a resolution of a thorny issue between the allies.
— The Seattle Times

Manila seen completing $200-million panda bonds sale
The Bureau of the Treasury (BTr) looks to sell so-called panda bonds by next month or soon after, and is close to completing the documentation and registration process that Philippine and Chinese authorities require for such a sale.
— Business Mirror

Families of detained minors file writ for habeas corpus
Families of the 10 minors aged 12 to 17 who were arrested at a barricade set up by residents at Barangay Sta. Lucia in Pasig City last week were forced to file a petition for a writ of habeas corpus after attempts to visit their children were repeatedly denied by officials at the city-run Bahay Aruga shelter in Barangay Pinagbuhatan.
— Philippine Daily Inquirer

Construction activities slow 9.2% in Q2
Construction activities fell 9.2 percent in the second quarter of 2017 as less residential buildings were built, the Philippine Statistics Authority (PSA) reported yesterday.
— The Philippine Star

Key drivers of Philippine real estate growth
WITH a growing economy and positive demographic trends, the Philippines has proven to be an encouraging place for Singapore real estate investments.
— The Business Times

NGCP secures clearance to build P52-b Visayas-Mindanao line
The Energy Regulatory Commission granted a provisional authority to National Grid Corporation of the Philippines to implement the P52-billion Visayas-Mindanao Interconnection Project.
— Manilastandard.net

China-PH joint venture to build solar plants nationwide
Chinese clean energy developer and operator ET Solar and Philippine energy solutions provider Vivant Corporation entered in a joint venture (JV) agreement to develop solar power plants that will provide lower electricity rates to the end-user.
— Manila Bulletin

Slow justice in Philippines as drug war rages, overwhelming courts
Accused murderer Manuel Cerna has languished in a Philippine jail for 15 years without a verdict, one of countless inmates enduring interminable trials that are expected to get longer as an unrelenting drug war overwhelms the courts.
— Manila Bulletin

In Marawi, 27 unclaimed bodies laid to rest
Some 27 unclaimed bodies of those who died in the ongoing war in Marawi City were laid to rest on Tuesday, September 5, the provincial government of Lanao del Sur said.
— Davao Today

Naga close to hitting P720M tax collection target: Chiong
THE city government of Naga, Cebu collected more than P503 million in taxes and other sources of income as of July this year.
— Sun Star

Filipino farmers to receive best equipment, machines
The Department of Agriculture is implementing the “Users Preference Policy” to ensure that only the quality and outstanding farm equipment will be given to Filipino farmers, Agriculture Secretary Manny Piñol said. “This means farmers and fisher folks now could tell the Department what type and brand of equipment they would like to have.”
— Update Philippines

PHL 7-year T-bond rate down due to high demand
Average rate of the Philippines’ seven-year Treasury bond (T-bond) fell Tuesday on higher demand from market players and high domestic liquidity situation.
— Northbound Philippines

Witness identifies 2 Caloocan cops in Kian slay
A new witness to the murder of Kian Delos Santos, a 17-year-old student killed in anti-drug operations in Caloocan City on August 16, identified the two cops who allegedly pulled the trigger.
— Philippine News Agency

Globe G-Cash partners with HK-based firm for OFW remittance services
Globe Telecom has partnered with Hong Kong based financial technology firm to further strengthen its presence in the remittance market for overseas Filipinos.
— Philippine Canadian Inquirer

Feature photo ILO in Asia and the Pacific
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 6 added by Stella-maris Ewudolu on September 6, 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.