Philippines morning news for December 26

Philippines morning news for December 26

Philippines morning newsARMM records P20-B investments in 2012-2018
THE REGIONAL Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM) recorded P20.07 billion investments in the period 2012-2018.
— BusinessWorld Online

Govt debt payments drop to P29B in Oct
Government debt payments fell in October as substantially lower amortizations offset an increase in interest payments, data from the Bureau of the Treasury showed.
— The Manila Times

PHL social protection spending falls below intl standard–PIDS
The national government (NG) has spent nearly a trillion pesos on social protection programs between 2009 and 2017, but the seemingly hefty amount remained below international standards, according to a study released by the Philippine Institute for Development Studies (PIDS).
— Business Mirror

INP retirees to receive P3.9-b pension
The Court of Appeals has ordered the government to proceed with the payment of P3.9 billion in pension benefits to retired members of the defunct Integrated National Police.

Budget chief flags smaller national tax share for local governments
THE NATIONAL GOVERNMENT may have to reduce local governments’ take in national taxes should the Supreme Court, in a final ruling, stand pat on a bigger revenue base for these units’ “just share,” Budget Secretary Benjamin E. Diokno said last week.
— BusinessWorld Online

DOLE: 80% of PHL companies are minimum-wage compliant
THE majority of companies in the country are compliant with government-imposed social protection wages despite higher minimum wages that took effect this year, the Department of Labor and Employment (DOLE) said.
— Business Mirror

PSALM debt payments hit P600B by mid-2018
The scale of debt payments and settlement of financial obligations by state-run Power Sector Assets and Liabilities Management Corporation (PSALM) reached a whopping P599.64 billion in the first half of 2018, a company document has shown.
— Manila Bulletin

House endorses bill transferring control of MITC to Mislatel
THE House of Representatives has endorsed for Senate approval a concurrent resolution granting the transfer, sale, or assignment of the controlling interest of Mindanao Islamic Telephone Co. Inc. to the Udenna Corp., Chelsea Logistics Holdings Corp. and China Telecom.
— Business Mirror

PDEA wages staunch anti-drug war, second chance for surrenderers
The year 2018 saw a stronger and more intense campaign of the government against illegal drugs. More than just going after the culprits behind drug hauls, big or small, the Duterte administration has also stepped up its plan towards recovery and rehabilitation of drug surrenderers who want to turn over a new leaf.
— Philippine News Agency

Aboitiz Equity to allot P60b for water and power units
Conglomerate Aboitiz Equity Ventures Inc. plans to spend up between P50 billion and P60 billion next year.

Electronics imports hit $23.55B in Jan-Oct
The value of electronics imports grew by 19.92 percent to $23.55 billion from January to October this year from $19.64 billion a year ago, the Semiconductor and Electronic Industries in the Philippines Foundation Inc. (Seipi) said.
— The Manila Times

Tropical depression ‘Usman’ to make landfall Friday — Pagasa
Tropical depression “Usman” is projected to make landfall over Eastern Samar on Friday, the state weather bureau said.

Tacloban council approves P1.41-B 2019 budget
The city council here has approved without modification the 2019 proposed PHP1.41-billion budget, as submitted by Mayor Cristina Romualdez.
— Philippine News Agency

Over P42-M illegal drugs seized in Bacolod City since January
More than PHP42.4 million worth of illegal drugs were seized in various police operations conducted by the Bacolod City Police Office (BCPO) since January this year, police records showed.
— Philippine News Agency

Creation of local nuke regulatory body hurdles second House reading
The House of Representatives has recently approved on second reading a measure providing for a comprehensive nuclear regulatory framework that will pave the way for the creation of the Philippine Nuclear Regulatory Commission (PNRC).
— Business Mirror

Rain from Tropical Depression Usman to begin December 26
Tropical Depression Usman is expected to begin bringing rain to parts of the Visayas and Mindanao on Wednesday, December 26.
— Rappler

More investments pushed for agri growth, climate adaptation
The Philippines needs to invest more on mitigating the effects of climate change on agriculture to make economic growth more inclusive, a National Economic and Development Authority (NEDA) official said.
— Philippine News Agency

Underinvestment seen in regions under national minimum wage
EMPLOYERS said a national minimum wage would reduce investment in less urbanized regions and accelerate the trend of workers migrating to cities.
— BusinessWorld Online

BSP: Fears of PHL economy overheating have no basis
The Bangko Sentral ng Pilipinas (BSP) dispelled concerns that the Philippine economy may be at risk of overheating due to rapid credit growth and a widening current-account deficit.
— Business Mirror

Surigao del Sur’s governor dies at 71
Surigao del Sur Governor Vicente Pimentel Jr. has passed away in the morning of Christmas day at the age of 71.
— CNN Philippines

CA junks DBM plea to block release of P3.9-B pension differentials to retired cops
The Court of Appeals has junked a petition filed by the Department of Budget and Management which sought to block the release of P3.9-billion worth of pension differentials to retirees of the Integrated National Police (INP).
— ABS-CBN News

House OKs bill requiring students to plant trees
The House of Representatives has approved on second reading a bill requiring graduating students to plant at least ten trees before receiving their diplomas.
— The Manila Times

DOLE eyes to install six new Polos in 2019
The Department of Labor and Employment (DOLE) has bared its list of countries where the government will establish new Philippine Overseas Labor Offices (Polos).
— Business Mirror

Military officials release places around PH where possible movements of CNTs could take place
Military officials on Tuesday released the places around the country where possible movements of Communist New People’s Army Terrorists (CNTs) could take place in relation to the Communist Party of the Philippines (CPP) 50th founding anniversary on Wednesday (December 26).
— Manila Bulletin

Govt to offer more ‘hybrid’ PPPs – Pernia
More “hybrid” public-private partnership (PPP) projects will be implemented next year, a Cabinet official claimed, giving the Duterte government’s “Build Build Build” program a boost.
— The Manila Time

2018 marks ‘great milestone’ in PH-China relations: Embassy
The Chinese Embassy in Manila said 2018 marked a “great milestone” in China-Philippines relations as it witnessed the historic visit of President Xi Jinping to Manila and the signing of landmark agreements between the two nations.
— Philippine News Agency


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. 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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