Philippines morning news for December 18

Philippines morning news for December 18

Philippines morning newsRemittances up 2.9% to USD26.5-B at end-October
Personal remittances from overseas Filipinos (OFs) for the first 10 months of the year reached USD26.5 billion, equivalent to a 2.9 percent year-on-year growth.
— Philippine News Agency

Bangko Sentral expects FDIs to top $10 billion in 2018
The Bangko Sentral ng Pilipinas said Monday it expects a record net inflow of foreign direct investments this year and surpass the $10-billion net inflow last year.

Over 50% of flagship projects to be finished by 2022–NEDA update
THE National Economic and Development Authority (Neda) disclosed that more than half of the administration’s flagship projects are now in the implementation phase and on track to being completed either by 2022 or a few years after the President steps down from office.
— Business Mirror

ADB sets USD1.3-B assistance for long-term Mindanao dev’t
The Asian Development Bank (ADB) has earmarked some USD1.3 billion in financing assistance for the long-term development of southern Philippines.
— Philippine News Agency

Govt to spend P320M for nutrition survey
THE national government will spend P320 million to conduct the 2019 Expanded National Nutrition Survey (ENNS), according to the Philippine Statistics Authority (PSA).
— Business Mirror

P91-B ecozone investments await Palace nod
Some 60 economic zones with combined investments of P91.06 billion still remained pending at the Office of the President.
— Manila Bulletin

Pinoy diabetics at 12m by 2040, doctor warns
The number of diabetics in the Philippines is projected to rise by 12 million by 2040, largely driven by more cases of type 2 diabetes due to the growing prevalence of obesity, sedentary lifestyles and unhealthy diets.

Port of Zamboanga breaches collection goal for the year at P351.787 million—BOC
The Port of Zamboanga has exceeded its annual collection goal of P288 million for the year, with its current port collection amounting to P351.787 million, the Bureau of Customs (BOC) reported on Monday.
— Business Mirror

Catriona Gray from the Philippines Crowned Miss Universe
Today, Catriona Gray from the Philippines was crowned the new Miss Universe in front of a worldwide audience at IMPACT Arena in Bangkok, Thailand.
— AEC News Today/ PR Newswire

Philippines tops WEF’s gender equality ranking in Asia
The Philippines came first in Asia in the World Economic Forum’s latest gender equality rating, announced on Tuesday, while the region’s largest economies, including Japan and South Korea, remained far below the global average.
— Nikkei Asian Review (paywall)

Piñol: Fisheries sector losing P5T every year
ILLEGAL and destructive fishing practices are causing the Philippines’ fisheries sector to lose about P5.07 trillion in potential earnings annually, according to Agriculture Secretary Emmanuel Piñol.
— The Manila Times

Target of 900,000 new jobs for 2018 unmet amid construction boom
DESPITE the strong performance of the construction industry this year, the government still fell short of its target of generating over 900,000 jobs for 2018.
— Business Mirror

Nueva Vizcaya mayor gets 22 years over vehicle purchase
3The mayor of Alfonso Castañeda town in Nueva Vizcaya will be spending up to 22 years in prison over the anomalous purchase of a vehicle, which he also failed to immediately return to the municipal government when his term ended in 2013.
— The Philippine Star

SM regularizes 11,660 workers in 2018 – DOLE
Labor Secretary Silvestre Bello III on Monday, December 17, announced that the Henry Sy-owned SM Supermalls has regularized 11,660 workers this year.
— Rappler

Senate panel seeks deep probe to unmask big fishes in P11-B shabu mess
A Senate panel has recommended a lifestyle check and further investigation into close to 20 people tagged in the P11-billion shabu shipment that was uncovered in August.

Metrobank’s bond reissue yields P18B in fresh funds
METROPOLITAN Bank & Trust Co. (Metrobank) raised P18 billion from the reissuance of its peso-denominated bond program.
— BusinessWorld Online

De Lima says Duterte’s allies now at each other’s throat over ‘pork’ in 2019 budget
President Rodrigo Duterte’s allies are now at each other’s throat over the controversial “billion insertions” in the 2019 budget, Senator Leila de Lima pointed out on Monday, branding the issue a “circus” and “royal rumble.”

Davao Oriental eyes partnership with state university for agri processing plants
THE DAVAO Oriental provincial government is planning to tap experts from the Davao Oriental State University (DoRSU) to set up processing plants for agricultural products using local funds.
— BusinessWorld Online

51Talk Holds Press Conference Detailing its “Road to 100k Online Filipino Teachers”
51Talk, the leading online Education platform seeks cooperation with the Philippines to grow 100,000 Filipino English teachers over the next five years, as well as enhancing the friendship between the Philippines and China.
— AEC News Today/ PR Newswire

Globe sets March shift to new landline numbers
Globe Telecom will shift to eight-digit landlines in Metro Manila in March next year in compliance with a National Telecommunications Commission (NTC) directive.
— The Manila Times

China’s outcast steel machines find unwelcome home in Southeast Asia
China banned induction furnaces last year in a crackdown on polluting producers of low-quality steel, but these machines have made their way to parts of Southeast Asia, hitting domestic steelmakers and fueling safety and environmental concerns.
— GMA News

More jobs for PH as production hub
THE Philippine Exporters Confederation (Philexport) Cebu sees a positive sign for the export industry in job generation, after the Department of Trade and Industry (DTI) pushed to make the Philippines a production hub.
— Sun Star

Singapore to import PHL agriculture produce after Malaysia export slash
The Philippines is keen on exporting poultry and livestock products, as well as vegetables and grains, to Singapore by the first quarter of next year to provide an additional market to local farmers.
— Business Mirror

Land Bank, TFBL ink deal on loan program for rebel surrenderers
In line with the ongoing efforts to reintegrate former rebels (FRs) and their families to mainstream society, Task Force Balik-Loob (TFBL) and Land Bank of the Philippines (LBP) signed a Memorandum of Agreement (MOA) last Dec. 13 for the facilitation of loans to the former as part of the government’s Enhanced Comprehensive Local Integration Program (E-CLIP).
— Philippine News Agency

New TNVS slots to ease commuter woes
Government’s move to add 20,000 more driver-partners for ride-hailing services is expected to have a positive impact in terms of availability and rates by early next year, benefitting commuters, according to leading transportation network company (TNC) Grab Philippines.
— Malaya

Here’s why the Philippines has the most freelancers in Southeast Asia
LAWMAKERS in the Philippines recently passed the Telecommuniting Act which provides equal pay and benefits for workers who worked in the office or from home, making the option of freelancing even more attractive for the job market.
— Asian Correspondent


Feature photo LWF/Sean Hawkey

This week’s Philippines morning news feature photo acknowledges International Human Solidarity Day, December 20.


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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