Philippines Morning News For September 8

Ayala Corp. to raise $400 million in fixed-for-life perpetual bond
CONGLOMERATE Ayala Corp. is set to float $400 million in fixed-for-life perpetual bond.
— Business Mirror

August foreign reserves at 3-month-high $81.5 billion
GROSS INTERNATIONAL RESERVES (GIR) edged up in August to a three-month high on the back of higher gold valuations and steady inflows from the central bank’s investments abroad, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— BusinessWorld Online

Peso back at P50:$1level; dollar, business deals cited
The peso jumped back into P50 per dollar territory on Thursday, a development attributed to a weaker greenback and renewed investor interest in the Philippines.
— The Manila Times

Bangladesh envoy admits ‘frustration’ in recovery of $81M in bank heist
The Ambassador of Bangladesh to the Philippines on Thursday expressed hopes of recovering money lost in last year’s $81-million bank heist but admitted there was “immense pressure” to achieve results more than a year after the incident.
— ABS-CBN (video)

Tax court rules for BSP on P2.4-B assessment
The Court of Tax Appeals (CTA) has cancelled the Bureau of Internal Revenue’s P2.37-billion tax assessment on the Bangko Sentral ng Pilipinas (BSP) for the year 2009.
— Philippine Daily Inquirer

Philippines’ Xurpas emerges as most active tech acquirer in SE Asia
Philippine-based tech solutions company Xurpas has emerged as the most active tech acquirer in Southeast Asia according to a latest report by venture intelligence platform CB Insights.
— Deal Street Asia

Terror fight, rebuilding Marawi to cost $1.1 billion
Rebuilding the besieged Philippine city of Marawi could cost about P56 billion ($1.1 billion), according to Defense Secretary Delfin N. Lorenzana.
— Business Mirror

DOH urged to issue protocol on Japanese encephalitis
A health official in Pampanga province asked the Department of Health (DOH) to issue a management protocol that would guide local governments in controlling the spread of Japanese encephalitis (JE).
— Philippine Daily Inquirer

Local, Asia stocks bounce back after US debt limit deal
The stock market perked up yesterday, taking the cue from Asian markets on optimism over US debt ceiling deal.
— The Philippine Star

PPP Center rebuilds pipeline with new focus: LGUs
From an array of over 40 infrastructure projects when the Aquino administration ended, private investors can now only choose from 21 deals to participate in, as the Duterte administration decided to fund most projects through foreign loans or from the government’s own budget.
— Rappler

House overwhelmingly approves universal health care for all Filipinos
A consolidation of three different legislative proposals, House Bill 5784 or the Unviersal Health Coverage Act will amend Republic Act No. 7875, otherwise known as the National Health Insurance Act of 1995.
— Manila Bulletin

Philippine government ‘rethinking’ drug war after killings of 3 teens
The Philippine government was “rethinking” its deadly campaign against illegal drugs following the killing of three teenagers in alleged police operations linked to the crackdown, a spokesman said Thursday.
— The China Post

Granting immunity to the Marcoses is “mockery of justice”
An opposition legislator said to exempt the family of the late strongman Ferdinand Marcos from criminal liability if they return alleged ill-gotten wealth would be “a mockery of justice”, according to The Manila Times Online on
Thursday.
— Thai PBS

Pulong Duterte, Mans Carpio deny involvement in ‘Davao Group’
Presidential son, Vice Mayor Paolo Duterte and brother-in-law lawyer Maneses Carpio denied claims that they are involved in a multi-billion illegal drug trade deal.
— Davao Today

PH to ease restrictions on foreign contractors
Economic managers are working towards relaxing restrictions on foreign contractors in line with the government’s plan to fast-track the implementation of infrastructure and development projects deemed vital to sustaining economic growth.
— Update Philippines

Russian-made commercial vehicles soon to serve PH market
Eastern Petroleum and Russian manufacturer of commercial vehicles GAZ Group have signed an agreement that will pave way for the entry of GAZelle NEXT 17-seater minibus and GAZelle NEXT Cityline 20-seater bus to Philippines which is implementing the Public Utility Vehicle (PUV) Modernization Program.
— Update Philippines

P800 pay hike for househelps in Region 6 eyed in Oct.
An increase in the salary of “kasambahay” or household helpers in Western Visayas is being considered by the Regional Tripartite Wages and Productivity Board (RTWPB)-6 this October.
— Philippine News Agency

Clark sets P1.3B for infrastructure
Clark Development Corp. (CDC) is spending P1.3 billion this year for various infrastructure projects at the Clark Freeport zone, the agency said in a statement.
— Malaya

EMB to go after miners using banned chemicals
The Environment Management Bureau (EMB) of the Department of Environment and Natural Resources (DENR) announced that it will exert a sustained effort against illegal small-scale mining and stop the use of banned and regulated chemicals, such as mercury, in the mining areas of Caraga Region.
— Sun Star

September power rates surge 10% after refund
Power rates surged by more than 10 percent in September, on higher generation cost and following the completion of the P6.9-billion refund, retailer Manila Electric Co. said Thursday.
— Manilastandard.net

Ex-bank manager to face charges in Philippines for cyber heist, others cleared
Philippine prosecutors have recommended the filing of charges against a former bank manager for her part in laundering tens of millions of dollars stolen from Bangladesh’s central bank last year, but they cleared two casino agents and a remittance firm.
— Reuters

Philippines sends trade mission to Jakarta, Manado
The Philippines Department of Trade and Industry (DTI) sent a trade mission to Jakarta and Manado, North Sulawesi, on Sept 4-8, to sustain the Davao-General Santos-Bitung Roll-On, Roll-Off (RORO) operations and expand trade with Indonesia.
— Antara

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 8 added by Stella-maris Ewudolu on September 8, 2017
View all posts by Stella-maris Ewudolu →

Bio
Latest Posts

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.