Philippines morning news for December 10

Philippines morning news for December 10

Philippines morning newsExternal debt service up 10.46%
The country’s external debt service burden increased by 10.46 percent year-on-year to $5.238 billion as of end-August from $4.742 billion same time in 2017, according to data from the Bangko Sentral ng Pilipinas (BSP).
— Manila Bulletin

DA to back Fisheries Expo with P400M in loans
FISHERMEN representing 100 communities nationwide are expected to purchase machinery and equipment at the World Trade Center, supported by P400 million worth of loans from the Department of Agriculture (DA).
— BusinessWorld Online

Coast Guard exec indicted for P689-million mess
The Court of Appeals has upheld the resolution of the Office of the Ombudsman recommending the indictment of a ranking official of the Philippine Coast Guard for illegal cash advances amounting to P689.6 million.

12-m farmers, fishermen get big boost with P122-b Agri budget
At least 12-million Filipino farmers and fisherfolks stand to benefit from the proposed P122-billion budget of the Department of Agriculture for next year, Senator Cynthia Villar said on Sunday.

El Nido fails to protect environment despite P55.2M collected from tourists
ABOUT P55.21 million in ecotourism development fees were collected by the municipal government of El Nido in 2017, up 19 percent from the P46.32 million collected in 2016.
— Business Mirror

PHL-Japan Historical Museum gets P4.7M renovation fund from Japan
THE nearly 25-year old Philippine-Japan Historical Museum in Davao City is getting a spruce up with a P4.7 million fund from the Japanese government.
— BusinessWorld Online

Philippines logistics sector to create 7.5 M jobs by 2022
The Philippine logistics sector may help create 7.5 million jobs and achieve five percent employment by 2022.
— The Philippine Star

Gov’t moves to start work on worst-hit Marawi sites
THE GOVERNMENT is looking to draw P2.4 billion from unprogrammed funds in the 2018 budget to help kick-start rehabilitation of Marawi City areas that were the most damaged in last year’s five-month battle with Islamic State-inspired local militants, a senior economic planning official said last week.
— BusinessWorld Online

PH expected to save $600m from wire rod imports
SteelAsia Manufacturing Corp. expects the country to save $600 million from wire imports yearly as it started new projects for two wire rod mills involving P25 billion in investments to produce 1 million tons a year.

Pag-IBIG loan releases up to P58.78 B in 10 months
he Home Mutual Development Fund (Pag-IBIG Fund) has increased the amount of housing loans it released in the first 10 months of the year to P58.78 billion to meet strong demand amid the low interest rates it offers.
— The Philippine Star

Treasury to issue additional P15-B 7-year bonds
The Bureau of the Treasury (BTr) is set to issue an additional P15 billion worth of seven-year Treasury bonds (T-bonds) this week to plug past rejections made by the auction committee and beef up the state coffers.
— The Philippine Star

ADB approves technical assistance grant for financial management skills upgrade
THE ASIAN DEVELOPMENT Bank (ADB) has approved a $1.10 million technical assistance grant for a project seeking to enhance financial management capacity in the Asia-Pacific region, including the Philippines.
— BusinessWorld Online

Sandiganbayan affirms turnover of P75B in coco levy funds to gov’t
The Sandiganbayan junked all appeals against the turnover of at least P75 billion in coconut levy funds to the government.
— Rappler

Philippines to buy U.S. helicopters, not Russian, due to U.S. sanctions: official
The Philippines will buy 16 Black Hawk helicopters from the Sikorsky Aircraft Corp for $240 million, shunning cheaper Russian equipment due to U.S. sanctions on Russian military exports, the Philippine defense chief said on Friday.
— Today Online

Acudeen earmarks P5 B for SME financing in 2019
Singapore-based Filipino startup Acudeen Technologies Pte Ltd. has earmarked more than P5 billion next year to provide the financing needs of small and medium enterprises (SMEs).
— The Philippine Star

P9 B allotted to hire 13,000 health professional
Some 13,000 health professionals will be deployed to various rural communities next year as government moved to further strengthen its health program to underserved communities.
— Manila Bulletin

Trillanes gets 4 warrants of arrest
The National Capital Region Police Office (NCRPO) on Sunday confirmed that it had received not just one but four warrants of arrest against Sen. Antonio Trillanes IV issued by Judge Melinda Alconcel-Dayanghirang of the Davao City Regional Trial Court Branch 54 on Dec. 7.
— Philippine Daily Inquirer

China, Duterte and the Philippine dam set to become a reality, despite four decades of protest
It takes 13 crossings – a rocky journey by motorcycle, jeep or boat – from the administrative centre of the Santa Ines district to reach the remote area known as Sitio Nayon, the ancestral lands of the historically nomadic Dumagat tribe.
— South China Morning Post

Lawmakers seen to endorse ML extension for one year
THE House of Representatives is expected to pass the extension of martial law and suspension of the writ of habeas corpus in Mindanao until December 2019 in a joint session this Wednesday, according to Minority Leader Danilo E. Suarez of Quezon.
— Business Mirror

Banks can no longer sell foreign currency notes to BSP
BANKS can no longer sell foreign currencies to the Bangko Sentral ng Pilipinas (BSP), as the regulator winds down such transactions going into 2019.
— BusinessWorld Online

Duterte to lead handover of historic Balangiga bells
PRESIDENT Rodrigo R. Duterte is expected to formally receive the Balangiga bells from the United States on Tuesday, Dec. 11.
— BusinessWorld Online

Unprogrammed budget: Pork eyed to fund Marawi rehab
Part of unprogrammed funds in this year’s national budget may finance the rebuilding of Marawi, a Muslim-majority city that was destroyed in last year’s fighting between government forces and Islamic State supporters.
— Philippine Daily Inquirer

PH labor group slams gov’t for ‘abandoning’ human rights
Labor group Bukluran ng Manggagawang Pilipino said the government should be blamed for the weakening value of human rights in the Philippines.
— ABS-CBN News (video)

Soldiers, police to receive 500 housing units
PRESIDENT Rodrigo R. Duterte will turn over today the 500 housing units built in San Miguel, Bulacan for the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP), the Palace said in an e-mailed advisory on Sunday.
— BusinessWorld Online

Six dead, 14 injured in Laguna road crash
Six people died while 14 others were injured after a 14-wheeler truck rammed through several vehicles in Sta. Rosa, Laguna on Saturday.
— CNN Philippines

PRRD approves First 1,000 Days law
President Rodrigo Duterte has signed the First 1,000 Days Law which seeks to scale up nutrition during the first 1,000 days of life.
— Philippine News Agency

FDA records 21 deaths from lambanog
A total of 21 persons were documented to have died after consuming lambanog or coconut wine containing high levels of methanol this year, the Food and Drug Administration (FDA) reported yesterday.
— The Philippine Star

2 vessels held for P1.1 million oil theft
The crew of two vessels were arrested in the waters of Manila Bay off Navotas yesterday for allegedly pilfering P1.1 million worth of fuel.
— The Philippine Star

Davao-Indonesia academic exchange program eyed
THE Indonesian Consulate is eyeing to create academic exchange programs between Davao City and Indonesia to encourage tourism and cultural appreciation.
— Sun Star

Philippines Seeks China’s Help in Countering Fake Cigarettes
The Philippines will seek China’s help in halting the proliferation of counterfeit cigarettes, its Department of Finance said.
— Bloomberg


Feature photo World Bank

This week’s Philippines morning news feature photo acknowledges International Universal Health Coverage Day, December 12.


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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