Philippines morning news for December 25

Philippines morning news for December 25

Philippines morning newsNet ‘hot money’ hits $1.09B as of early Dec
Foreign portfolio investments hit a net inflow of $1.092 billion early in December, Bangko Sentral ng Pilipinas (BSP) data showed, rebounding from a net outflow posted a year earlier.
— The Manila Times

Dissecting Data: PH posts ‘respectable’ economic growth in 2018
The Philippine economy posted a slower but “respectable” growth rate in the third quarter of 2018 at 6.1 percent from 6.2 percent in the second quarter, Socioeconomic planning secretary Ernesto Pernia has said.
— ABS-CBN News (video)

National government borrowings decline in October 2018
The national government reported lower borrowings last October as both debt from domestic and external sources declined during the month, the Bureau of the Treasury (BTr) reported.
— The Philippine Star

Tourists in Eastern Visayas seen hitting 2.1 million with renewed interest in Balangiga bells
WITH the restoration of the historic Balangiga bells in the belfry of Saint Lawrence the Martyr Church in Balangiga town, things are looking up for Eastern Visayas tourism.
— Business Mirror

The $26.3 Trillion untapped oil deposits of the Philippines
These oil deposits, mostly found in the disputed Spratly chain of islands, remain untouched — which is unfortunate because they are more than enough to free the country from the shackles of poverty.
— Balikbayan Magazine

PDIC to auction P70 million worth of closed banks’ assets
State-run Philippine Deposit Insurance Corp. (PDIC) is kicking off 2019 with an asset disposal program involving 195 assets of closed banks worth nearly P70 million.
— The Philippine Star

Property group backs bill to tap P270-billion housing funds
THE Chamber of Real Estate and Builders’ Associations Inc. (Creba) has thrown its support to the proposed bill of House Speaker Gloria Macapagal-Arroyo that seeks to establish a centralized home funding program that allows low-cost socialized housing within the reach of all income-earning Filipinos.
— Business Mirror

Current account deficit to top BSP target – Fitch
The Philippines’ current account deficit could exceed the Bangko Sentral ng Pilipinas’ (BSP) target this year, Fitch Ratings said.
— The Manila Times

MWSS, NIA team up to aid gov’t infra projects
The Metropolitan Waterworks and Sewerage System (MWSS) and the National Irrigation Administration (NIA) have formed an alliance to share their resources in support of the government’s massive infrastructure program.
— Philippines News Agency

Gov’t, private sector see robust 2019 growth
Business leaders and top government economists agree that the Philippine economy will grow more robust in 2019.
— Manila Bulletin

EMB ‘Refill Revolution’ recycling tack draws 2k in Balanga
Over 2,000 residents of this city joined the “Refill Revolution” as they trooped to Barangay Dona Francisca covered court here with their recycled plastic bottles and containers for refill of condiments and household products.
— Manilastandard.net

Baguio’s tourism sector to oppose any move to close PH Summer Capital
BAGUIO CITY – The Hotel and Restaurant Association of Baguio (HRAB) and other local tourism industry stakeholders warned those advocating the total closure of this city that they will not support them in their future endeavors because their efforts will be ruining the robust growth of Baguio’s tourism industry.
— Manila Bulletin

Electronics exports up 5% in Jan-Oct – Seipi
EARNINGS from electronic exports rose by 5.20 percent in the first 10 months of 2018 to $31.71 billion from $30.14 billion in the same period last year, according to the Semiconductor and Electronics Industries in the Philippines, Inc. (Seipi).
— The Manila Times

967 beggars rescued from Metro Manila streets
At least 967 beggars, rescued from the busy streets of Metro Manila while asking for alms, would spend their Christmas this year at a government institution, a police official said yesterday.
— The Philippine Star

Woman’s home flooded with ‘revenge’ deliveries
Days after video footage of a high school student bullying a schoolmate was circulated online, an address erroneously identified as being that of the minor involved has been flooded with online orders and deliveries.
— Gulf News

Philippines: Congressman, Security Escort Killed at Gift-Giving Program
An outgoing member of the House of Representatives who was an ally of President Rodrigo Duterte was shot and killed Saturday in what appears to be politically related violence ahead of next year’s election, police said.
— Benar News

Sound policies to lure digital firms to invest in Philippines
THE Philippines stands to attract more foreign direct investments (FDI) in the coming years, should it prove to be a haven with sound regulations and policies for the budding video-on-demand (VOD) sector, an expert said.
— Business Mirror

Poll: Young, educated workers may leave PHL
The country may see an exodus of young educated Filipinos who may leave the Philippines and work or live in other countries, according to the results of a recent Gallup poll.
— Business Mirror

Gov’t ceasefire body chief steps down
A Philippine government consultant has quit following disagreements on how to proceed with peace negotiations to end nearly 50 years of Maoist rebellion in the country.
— ABS-CBN News

AFP issues reminder on Reds’ Dec. 26 founding anniversary
With communist rebels poised to celebrate their 50th founding anniversary on Wednesday, December 26, the Armed Forces of the Philippines (AFP) on Monday advised the public to take the necessary security precautions and remain vigilant for possible attacks by the terror group.
— Business Mirror

South Korean tourist loses P4.1 million in Pasay City flyover heist
A South Korean tourist lost over P4 million in cash and valuables to robbers in Pasay City on Sunday night.
— The Philippine Star

 

Feature photo Australian Institute of International Affairs

This week’s morning news photo features a defining moment, event, or situation from 2018 for each country as chosen by our editors.

 

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

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