Philippines morning news for August 2

Philippines morning news for August 2
Estimated Reading Time: 7 minutes |

Philippines morning newsPhilippines’ spending on infrastructure soars by 41.6 pct in H1
The Philippine fiscal spending on infrastructure soared by 41.6 percent year on year in the first half of this year on the back of higher disbursements related to the administration’s Build, Build, Build program, according to data released by the government on Wednesday.
— Xinhua

Manufacturing growth weakens in July
PHILIPPINE manufacturing activity grew at a slower pace as the second semester began — marking the weakest reading in five months — amid softer demand, according to the latest survey IHS Markit conducted for Nikkei, Inc.
— BusinessWorld Online

Gov’t fiscal deficit narrows to P193 billion mid-2018
Government revenue collection vis-à-vis spending narrowed fiscal deficit to P193 billion, due to improved collections thanks to the tax reform law.
— Rappler

Close to 1K persons with HIV recorded in June
Almost 1,000 persons in the country were included on the list of reported new cases of human immunodeficiency virus (HIV) for the month of June.
— Philippine News Agency

Infra, capital spending climbs 38.6% in June
Government spending on infrastructure and other capital outlays jumped 38.6 percent to P72 billion in June, Budget department data showed on Wednesday, bringing year-to-date disbursements past that programmed for the period.
— The Manila Times

Davao City Councilor endorses Senate Bill increasing statutory rape age
Davao City Councilor Avegayle Dalodo Ortiz, Chair of the Committee on Children, Women and Family Relations, asked the City Council to pass a resolution supporting the pending Senate Bill increasing the age for determining statutory rape to provide stronger protection for children.
— Davao Today

BPI net profit falls to P11 billion in first semester
The Bank of the Philippine Islands (BPI) posted 5.7 percent dip in net income to P11.03 billion for the first half of 2018 due to lower non-interest income and higher costs.
— Manila Bulletin

Inflation for poorest households up 6.5% in second quarter of 2018
Inflation for the country’s bottom 30 percent income households has risen to 6.5 percent in the second quarter of the year because of faster increases in the prices of food, the Philippine Statistics Authority (PSA) reported.
— The Philippine Star

Tech gives rise to self-driven rentals
WHILE in the past, solo or group travelers relied on maps and the kindness of locals when navigating routes, the emergence of the GPS-enabled smartphones has pushed the self-drive segment up in most car rental businesses.
— Sun Star

Duterte vows protection, level playing field for businesses
President Rodrigo Duterte on Wednesday vowed anew to protect businesses in the country, as the government seeks to attract more investments to fund its social and infrastructure programs.
— ABS-CBN News

Aquino warns against 60-40 joint exploration in West PH Sea
Former president Benigno Aquino III opposes the proposed 60-40 sharing of natural resources between the Philippines and China in the joint exploration of the West Philippine Sea.
— Rappler

Senate OKs on 2nd reading bill amending Corporation Code
Senate approved on second reading Wednesday a bill seeking to amend the decades-old Corporation Code and introduce, among others, the concept of a one-man corporation.
— GMA News

Toyota Philippines expects 17 percent output cut in 2018 on weak sales
The Philippine unit of Japan’s Toyota Motor Corp expects a 17-percent decrease in its output this year as higher excise taxes and consumer goods prices weigh on demand, its president said on Wednesday.
— Reuters

Doing the “In My Feelings” Challenge here might get you a P15,000 fine
The “In My Feelings” Challenge has taken the Internet, and streets, by storm.
— Inquirer.net

Philippine anti-graft official sacked for revealing Duterte probe details
The office of the Philippine president has sacked a deputy ombudsman for revealing information about an inquiry into alleged unexplained wealth of President Rodrigo Duterte, saying that his intent was to discredit him.
— Reuters

‘Build, Build, Build’ creates over 600K jobs since April: DOLE
The Build, Build, Build program of the Duterte administration has generated over 600,000 jobs as of April 2018, the Department of Labor and Employment (DOLE) said Wednesday.
— Philippine News Agency

P2B bus modernization to phase out PUJs
Davao City’s point-to-point (P2P) bus system will never solve the problem of traffic congestion and the shortage of public transportation during rush hours.
— Davao Today

Petronas keen to invest in Philippine LNG hub
PETROLIAM Nasional Bhd (Petronas) has held initial discussions with the Philippine National Oil Company (PNOC) to invest in a planned US$2 billion liquefied natural gas (LNG) hub in the Philippines, says the country’s Energy Secretary Alfonso Cusi.
— The Edge Markets

Japan to ease visa requirements for Filipinos beginning August
apan is easing visa requirements for Filipinos traveling for business or cultural reasons beginning this month.
— CNN Philippines

CEZA to build 5 major infra projects
The Cagayan Economic Zone Authority (CEZA) will simultaneously construct five major infrastructure projects starting this year, an official said on Monday.
— Philippine Information Agency

Undocumented Filipinos in UAE urged to avail amnesty
Undocumented Filipinos in the United Arab Emirates have the chance to either correct their immigration status or return to the Philippines.
— The Philippine Star

P20.00 minimum wage hike for Central Luzon workers takes effect August 1
The National Wages and Productivity Commission published the implementation of the P20.00 minimum wage hike for workers in Central Luzon.
— UNTV News

Honest airport cop turns in bag containing P1.5-M
The Civil Aviation Authority of the Philippines (CAAP) will recognize an honest airport personnel for returning a bag containing PHP1.5 million left by a passenger, its spokesperson, Eric Apolonio, told the Philippine News Agency (PNA) on Wednesday.
— Philippine News Agency

Solar Philippines offers P2.34 per kwh rate to Meralco for 50 MW of solar supply
Solar Philippines has offered Manila Electric Co. (Meralco) a rate of P2.34 per kilowatt-hour (kwh) for 50 megawatts (MW) of solar supply – considered to be the lowest rate in Southeast Asia.
— The Philippine Star

Startups seen pushing ‘internet of things’
Tech developers and enthusiasts are expected to flock to the 3rd edition of Internet of Things (IoT) Summit on August 17 and 18 at the Megatrade Hall in SM Megamall, Mandaluyong City.
— ABS-CBN News (video)

US wants to try Napoles and family for money laundering
Businesswoman Janet Lim-Napoles, the alleged mastermind in the P10-billion pork barrel scam, and members of her family are wanted in the United States for money laundering.
— Philippine Daily Inquirer

Davao workers to get P56 wage hike
Minimum wage earners in the Davao region will get a pay increase of P56.
— The Philippine Star

BoI okays P1.7-billion Seda Lio Resort with tax incentives
The Board of Investments approved the application of the P1.7-billion Seda Lio Resort as the first inclusive business model project under the Investment Priorities Plan.
— Manilastandard.net

Makati lawmaker bares P2-billion plan to revive Pasig River ferry system
The national government has allotted P2 billion to revive the Pasig River ferry system, this time with smaller boats moving through more stations at a faster pace, Makati City Rep. Luis N. Campos Jr. said on Tuesday.
— Business Mirorr

162 ex-rebels in Davao, Soccsksargen get P10.5-M financial aid
A total of 162 former communist rebels in Davao Region and Soccksargen received PHP10.53-million in financial assistance through the Enhanced Comprehensive Local Integration Program (E-CLIP) administered by the Department of the Interior and Local Government (DILG).
— Philippine News Agency

Entertainment City mall and casino resort developments have 10,000 positions to offer
AN estimated 10,000 direct and indirect jobs would be generated once the country’s biggest commercial complex and the fifth casino project inside the Philippine Amusement and Gaming Corp.’s (Pagcor) 100-hectare Entertainment City opens this year and in 2022.
— Business Mirorr

Firm denies claims of illegally trafficking Filipinos; raps dismissed
The Fahrenheit Company Ltd. (FCL) on Friday denied involvement in the illegal recruitment of 139 Filipino workers on board a cruise ship bound for Micronesia.
— Philippine News Agency

 

Feature photo Rainier Martin Ampongan

 

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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. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.

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