Philippines morning news for July 23

Philippines morning news for July 23

Philippines morning newsGovt-led firms remit a total of P31.297B
THE Department of Finance (DOF) has reported that 51 ​of 77 government-owned and -controlled corporations (GOCCs) have remitted a total of P31.297 billion to the Bureau of the Treasury (BTr) as of the second week of July this year.
— Business Mirror

Govt to allot P50B for war-torn areas
THE proposed Bangsamoro Organic Law (BOL) mandates the national government to allot P50 billion special development fund (SDF) to rehabilitate areas affected by armed conflict between the military and Muslim rebels, according to Sen. Juan Miguel Zubiri.
— The Manila Times

COA uncovers P11.2-B anomaly in tax credits
The One-Stop Shop Inter-Agency and Duty Drawback Center (OSS) had erroneously granted P11.18 billion worth of tax credit certificates (TCC) to 33 textile companies from 2008 to 2014, the Department of Finance (DOF) said.
— The Philippine Star

Economists raise inflation forecasts for 2018-2020
Private sector economists surveyed by the central bank raised their inflation forecasts for 2018 up to 2020 even as they see the impact of tax measures starting to ease by next year.
— Manila Bulletin

Govt seeks Israel’s help to spur innovation in PHL
Manila is seeking the assistance of Israel’s innovation agency to implement an industrial strategy program that aims to develop local industries in the Philippines.
— Business Mirror

Malaysia denounces call for Sabah to become Philippine state
KOTA KINABALU Malaysia on Saturday denounced repeated suggestions by an adviser to Philippine President Rodrigo Duterte that Sabah should be designated as the 13th state of the Philippines.
— The New Paper

Large protest expected vs Duterte admin today at SONA event
More the 30,000 rallyists are expected to join the mass protest on the day of Pres. Duterte’s 3rd SONA or State of the Nation Address.
— UNTV News

BSP to implement changes in term deposit auction
The Bangko Sentral ng Pilipinas (BSP) is considering additional operational refinements to its main liquidity absorption tool to strengthen the transmission of changes in the monetary policy stance to the rest of the economy.
— The Philippine Star

Gov’t fund utilization rate slips to 97.1% in Q2
FUND USAGE by national government agencies declined in the second quarter, the Department of Budget and Management (DBM) said.
— BusinessWorld Online

Mapping technology being touted to develop mussel farming industry
THE Department of Science and Technology (DoST) and the University of the Philippines (UP) are seeking to develop the mussel farming industry using geolocation technology.
— BusinessWorld Online

Manila’s disaster backup rises in iCloud city
Monsoon rains battered down on Manila this week as a tropical storm – the ninth this year – howled nearby.
— The Asean Post

Duterte has grand ambitions to share Manila’s wealth
Seeking to close the gap on the entrenched wealth inequality in the Philippines, President Rodrigo Duterte is pushing a controversial constitutional change to adopt a United States (US)-style federal structure.
— The Asean Post

H2 policy rate hikes seen hitting 100 bps
Monetary authorities could order rate hikes totaling an additional 100 basis points (bps) before the year ends, Deutsche Bank said, as inflation will likely stay above target in 2019.
— The Manila Times

158,509 families affected by incessant rains
Severe weather conditions due to the southwest monsoon enhanced by tropical cyclones “Henry”, “Inday” and now “Josie” has so far affected 158,509 families or 728,003 individuals residing in 585 barangays in Regions 1, 3 4A (Calabarzon), 4B (Mimaropa), Cordillera Administrative Region (CAR) and the National Capital Region.
— Philippine News Agency

PH to assert sea rights through friendly talks with China
Malacañang Palace insists that a peaceful dialogue with China will solve issues in the West Philippine Sea, after the results of a recent survey showed that most Filipinos would want to regain control of disputed islands in the area.
— Inquirer.net

Gov’t trumpets accomplishments ahead of Duterte’s 3rd SONA
With many of the government’s achievements already highlighted in the three-part pre-State of the Nation Address (SONA) forum, President Rodrigo Roa Duterte is expected to articulate in his third SONA on Monday the essentials of what his administration will do in the next 12 months to achieve the people’s desire for genuine change.
— Philippine News Agency

PRRD Year 2: Thousands of overseas Pinoys assisted, labor deals inked
The Department of Foreign Affairs (DFA) reported that a total of 34,579 Filipinos abroad in 2018 were assisted by its augmented Assistance-to-Nationals (ATN) Fund and Legal Assistance Fund (LAF).
— Philippine News Agency

President’s Sona to focus on people’s desire for change
In a departure from his previous State of the Nation speeches, President Rodrigo Duterte will dwell not on his achievements but on his plans for the Philippines in the coming months when he addresses a joint session of Congress on Monday afternoon.
— Philippine Daily Inquirer

PCOO ‘misused 2017 ASEAN Summit fund’
The Commission on Audit (COA) has recommended the filing of charges against Presidential Communications Operations Office (PCOO) officials due to their anomalous spending of funds for the 2017 ASEAN Summit.
— Panay News (media release)

Increased fish production pushed via rigorous R&D
The Southeast Asian Fisheries Development Center/Aquaculture Department (AQD) (SEAFDEC/AQD) based in southern Iloilo is pushing for the increase of the country’s fishery production through rigorous research and development (R&D) programs.
— Manila Bulletin

Duterte’s war on tongues
I used to have a Tagalog dad. I relish the times when dad dropped me off at school and spoke to me with his Tagalog tongue.
— News Mandala

Legal process on telco bidding starts
The Department of Information and Communications Technology (DICT) is finalizing the terms of reference (TOR) on the search for the third major telco player using the highest committed level of services (HCLos) as mode of selection.
— Malaya

State of calamity declared in Philippines amid rains
A state of calamity has been declared in several provinces in Northern Philippines, including the capital Manila, after relentless rains that battered the country over the past week.
— Anadolu Agency

Philippines hikes maid recruitment fees in Kuwait
Cairo: A labour pact, which defused a diplomatic crisis between Kuwait and the Philippines earlier this year, faces a new hurdle, a Kuwaiti unionist has said.
— Gulf News

Swift approval of BOL seen in Duterte’s hands
THE Bangsamoro Organic Law, which seeks to create a Bangsamoro entity to help attain lasting peace in Mindanao, will be signed by President Rodrigo Duterte before he delivers his third State of the Nation Address today, the Palace said Sunday.
— Manilastandard.net

 

Feature photo maryaddison80

 

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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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