Philippines Morning News For January 5

Philippines Morning News For January 5

Philippines morning newsPhilippine economy to grow fastest in ASEAN-5 in 2018 – First Metro
First Metro Investment Corporation, the investment banking arm of Metrobank Group, expects the Philippines to become the fastest growing economy in the Association of Southeast Asian Nations (ASEAN)-5 this year, clocking in as much as 7.5% growth.
Rappler 

Philippines fines Sanofi, suspends clearance for Dengvaxia
The Philippines has fined Sanofi US$2,000 and suspended clearance for the French drug maker’s controversial dengue vaccine Dengvaxia, citing violations on product registration and marketing, its health secretary said on Thursday.
Channel NewsAsia 

IN 2018: TRAIN to drive growth to 7-7.5%
First Metro Investments Corp. sees the recently-passed tax reform law aiding the economy to hit 7 to 7.5 percent growth for the year, as it gives both the government and most of the public more spendable income.
Malaya 

ISIS and the US Could Turn the Philippines Into the Next Syria
The fight against ISIS in Iraq and Syria is drawing to its inevitable close. Though the U.S. will stay in Syria for as long as possible, it already appears to have essentially conceded to its Russian counterpart. There will be little else it can do except act as a buffer to the Syrian government along the strategic Al-Tanf border crossing.
Mint Press News 

Honda Philippines raises prices for most cars due to tax reform law
The Philippine unit of Japan’s second top automaker Honda Motor Company raised prices for most models following the implementation of new excise tax rates.
Rappler 

Tax evasion raps filed vs shabu-linked broker, trader
The trader and the broker charged earlier in connection with the P6.4-billion shabu smuggling in the Bureau of Customs (BOC) have been slapped with another criminal case before the Department of Justice (DOJ).
Philstar

TRAIN means P2.40 gain for every P1 loss for workers
The implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) should not empty the pockets of 6.8 million Filipino workers as every peso increase in their expenses due to price hikes would be offset by the P2.40 they would save from their personal-income tax (PIT) exemption on the average.
BusinessMirror

Gov’t infra spending jumps 45%
The government’s expenditures for infrastructure jumped by 44.8 percent in November 2017, according to the Department of Budget and Management (DBM).
Malaya

Duterte fires Marina chief
PRESIDENT Rodrigo Duterte has fired Maritime Industry Authority (Marina) administrator Marcial Quirico Amaro 3rd for frequent unofficial foreign trips in 2016 and 2017.
The Manila Times 

Indonesia-Philippines Security Ties in the Headlines With Foreign Minister Visit
This week, Indonesian Foreign Minister Retno Marsudi paid a visit to the Philippines, where she met with top officials including President Rodrigo Duterte. Though the agenda itself was more wide-ranging, her trip put the spotlight on the progress both sides are trying to make on some common security challenges.
The Diplomat 

Philippines begins issuing 10-year passports
Filipinos in the UAE who applied for their passports on January 3 onwards will be issued passports valid for 10 years.
Gulf News

Govt spends more but misses 2017 goal
National government disbursements posted double-digit growth last year but fell just below target, data from the Bureau of the Treasury (BTr) showed.
The Manila Times 

Duterte term extension ‘out of the question’
Prolonging his term is “out of the question” for President Duterte, his spokesman said yesterday, disputing a scenario raised by his top allies in Congress that he may have to stay in power after 2022 if the push for a federal form of government succeeds.
Philstar 

Power rates to seesaw in January, February–Meralco
Manila Electric Co. (Meralco) customers can expect further reduction in power rates this month, mainly due to the decrease in generation charge. But they should also brace for hikes in their electricity bills starting in February due to the impact of the Tax Reform for Acceleration and Inclusion (TRAIN) Act on the power sector, a company official said on Thursday.
BusinessMirror 

Court junks petition of human rights victims
The Court of Appeals (CA) has stood firm on its ruling that the $2 billion awarded by a US court to victims of martial law in 1995 cannot be enforced in the Philippines.
The Manila Times 

Customs falls short of annual collection target
The Bureau of Customs, the government’s second biggest revenue earner, exceeded its collection goal in December, but still fell short of its overall target last year.
Manila Bulletin 

8 people killed by mortar they tried to open in Philippines
Eight people were killed in the southern Philippines when a rusty mortar round they thought was an iron canister with gold inside exploded as they tried to pry it open with a hammer, police said Thursday.
Fox News 

 

Feature photo Joe Coyle

 

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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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