Philippines morning news for July 26

Philippines morning news for July 26

Philippines morning newsWorld Bank: PH climbs to 60th place in trade logistics rankings
THE Philippines’ competitiveness in trade logistics improved in the past two years, such that its rank jumped to 60th place among 168 countries in this year’s edition of a biennial World Bank report.
— Inquirer.net/ Cebu Daily News

Gov’t lost P301 billion from tax incentives – DOF
The government gave away about P301 billion in revenues in 2015 alone as a result of tax incentives and other perks granted to only 2,844 firms, the Department of Finance (DOF) said.
— Manila Bulletin

Philippines says ready to help Laos deal with deadly dam collapse
The Philippines said Wednesday that it stands ready to extend assistance to Laos after an under-construction dam collapsed in the southern province of the landlocked country, flooding villages and killing at least 26.
— Xinhua

P909.7-B allotted for ‘Build, Build, Build’ program in 2019
A total of PHP909.7 billion out of the proposed PHP3.757 trillion national budget for 2019 will be allotted for the construction of the flagship projects under the “Build, Build, Build” program.
— Philippine News Agency

Philippines ranks world’s 2nd most dangerous country for environmentalists
The Philippines has become the world’s second most dangerous place for environmental activists after Brazil, with 48 green advocates killed last year, The Manila Times Online reported.
— Thai PBS

Firm proposes to build 25,000 common towers for telcos for P100-B
The Department of Information and Communications Technology (DICT) on Wednesday said a local firm has submitted an unsolicited proposal to build common towers for the country’s telecommunications companies.
— ABS-CBN

COA demands return of P44.8M in unused blood money
The Commission on Audit has demanded the return to the national treasury of some P44.8 million in blood money that remained unutilized and unable to save the lives of two overseas Filipino workers who were executed in the Middle East in 2015 and 2017.
— Manila Bulletin

SC’s IRA decision to cost govt P160B
A Supreme Court (SC) ruling requiring increased transfers from the central to local governments could cost P160 billion next year, Budget Secretary Benjamin Diokno said on Wednesday.
— The Manila Times

P8-billion revenue losses seen from banana exports to South Korea
The Philippines stands to lose about P8 billion in revenues from bananas if the government fails to scrap the 30 percent levy on the commodity.
— The Philippine Star

TRAIN 2 faces derailment at Senate despite Duterte push
The Duterte administration’s second package of tax reforms could face an uphill climb in the Senate given concerns that it might lead to job loss and fewer investments, according to Majority Leader Juan Miguel Zubiri.
— Philippine Daily Inquirer

Air pollution deaths 3rd highest in PH
Health experts on Wednesday, July 25, urged the government to develop a plan for improving air quality as the country had the 3rd highest number of deaths due to air pollution, according to the World Health Organization (WHO).
— Rappler

Banana growers, exporters urge government to expedite FTA with Seoul
Manila should expedite the forging of a free-trade agreement (FTA) with Seoul that would allow Philippine banana exports to enter South Korea at lower tariffs, and ensure that the country would not lose the East Asian market against South American competitors.
— Business Mirror

UBS: Expect PH economy to lose steam as global trade war picks up
UBS Securities Pte. Ltd. lowered its growth forecast for the Philippine economy next year to 6.4 percent, citing the impact of the ongoing global trade tensions.
— Philippine Daily Inquirer

PH lags in promoting creative industry exports
On this week’s “Outside Looking In,” Guenter Taus of the European Chamber of Commerce of the Philippines urged government to double down on efforts in boosting local creative industry.
— ABS-CBN (video)

Over P75-B coco levy fund still out of farmers’ reach – COIR
Millions of Filipino coconut farmers have been waiting for the return of coco levy funds that have been denied from them for almost four decades now.
— UNTV News

Agri, infra damage due to monsoon rains now at P1.4-B
Damage to agriculture and infrastructure caused by the southwest monsoon enhanced by tropical cyclones “Henry”, “Inday” and “Josie” has been placed at PHP1,377,090,105, the National Disaster Risk Reduction and Management Council (NDRRMC) said on its 6 a.m. Wednesday update.
— Philippine News Agency

Term deposit yields mixed
Term deposits fetched mixed results anew following a suggestion from the International Monetary Fund (IMF) to pause on further reducing the level of deposits banks are required to keep with the Bangko Sentral ng Pilipinas (BSP).
— The Philippine Star 

World Bank bats for cash transfer expansion in 2019
THE WORLD Bank is recommending an expansion in the coverage of the government’s cash transfers, known as the Pantawid Pamilyang Pilipino Program, due to their effectivity in reducing poverty.
— BusinessWorld Online

Exec: $1B in revenues in 2018 for contact center sector
The country’s contact center industry is foreseen to contribute $1 billion in revenues this year with the Philippines and particularly Cebu expected to continue to be the biggest source of voice services worldwide.
— Inquirer.net/ Cebu Daily News

Seipi: Electronic exports, imports grew in Jan-May
EARNINGS from electronic exports and imports continued to increase in the first five months of 2018, rising by 3.1 percent and 13.14 percent, respectively, from amounts posted in the same period last year, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) said.
— The Manila Times

Massive fire in Jolo, Sulu displaces 5,200 families
Some 5,200 families were displaced while one person died after fires hit two seaside communities in Jolo, Sulu on Tuesday.
— CNN Philippines

DSWD establishes emergency internet support for disaster response ops in Luzon
The Department of Social Welfare and Development (DSWD) through its Rapid Emergency Telecommunications Team (RETT) has established an internet connection at the National Emergency Center in Clark, Pampanga to support the disaster response operations in Central and Northern Luzon.
— ReliefWeb

Philippine War Refugees Lose Patience After Exit of China-backed Rehab Contractor
Increasingly impatient people from a war-razed city in the Muslim region of the Philippines expect reconstruction to take at least five years, despite pledges for quick recovery, after a Chinese-backed building consortium failed to get a building contract.
— VOA

IMF concludes consultation with Philippines, economic growth strong, outlook favourable
An International Monetary Fund (IMF) staff team led by Luis E. Breuer visited Manila and Bohol in the Philippines from July 11-25, 2018.
— Devdiscourse

IMF: Central bank needs to raise interest rates more to rein in price pressures
THE International Monetary Fund (IMF) said the central bank may need to tighten benchmark interest rates further to rein in inflation, which it described as one of the biggest risks to an otherwise “favorable” outlook for the Philippine economy.
— BusinessWorld Online

40 PWDs receive P10,000 aid from Manila city government
At least 40 persons with disabilities in Manila have received P10,000 each from the City Government to help them start a sustainable source of income as part of the city’s celebration of PWDs Week.
— Manilastandard.net

Australian nun wins another reprieve in Philippines
An Australian missionary nun ordered deported last week by Philippine authorities is not leaving the country just yet.
— UCA News

 

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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