Philippines morning news for July 30

Philippines morning news for July 30

Philippines morning newsNG debts breach P7 T in June
The national government’s debt pile breached the P7 trillion mark as of end-June following the issuance of Retail Treasury bonds (RTBs) and the weak peso, the Bureau of the Treasury (BTr) reported on Friday.
— The Philippine Star

Cash transfers seen in excess of P150 billion
CAMARINES Sur and Deputy Speaker Rolando Andaya Jr. on Sunday said government cash transfers—conditional and unconditional—could reach the P150-billion mark in 2019.
— Manilastandard.net

NFA gets P5.2B of P9.7-B subsidies
THE subsidy provided by the national government for June this year amounted to P9.718 billion, with most of it going to the National Food Authority (NFA) at P5.200 billion, Bureau of the Treasury (BTr) data showed.
— Business Mirror

Peppermint to tap USD$1bn Filipino remittance market
ASX listed fintech Peppermint Innovation is looking to tap into the USD$1 billion Filipino remittance market via its new partnership with leading Philippines non-bank remittance payout provider, Direct Agent 5.
— The West Australian

IMF sees continued dollar outflows for Philippines
Multilateral lender International Monetary Fund (IMF) said the Philippines would continue to spend more US dollars than what it earns amid higher importation of capital equipment and raw materials to support the growing economy.
— The Philippine Star

P26-B connector road gets gov’t tax perks
The Board of Investments has granted tax and fiscal incentives to the P25.74-billion Skyway Stage 3, which will connect north and south Luzon expressways.
— Manila Bulletin

COA flags PSALM’s P10-B net discrepancy
The Commission on Audit (COA) has flagged state-run Power Sector Assets and Liabilities Management Corporation (PSALM) on what was reckoned as P10 billion “net discrepancy” on its receivables from national government agencies; and what were deemed as “doubtful entries” on its financial books.
— Manila Bulletin

China donates four small boats and grenade launchers to Philippines
China has donated four 12-meter-long boats and 30 rocket-propelled grenade (RPG) launchers to the Philippines, continuing the closer relations between the two countries under President Rodrigo Duterte.
— Reuters

Typhoons leave P1.8 billion damage to agriculture
Damage to agriculture in areas hit by recent typhoons climbed to P1.8 billion with the crop industry having the largest amount of losses, the Department of Agriculture (DA) said over the weekend.
— The Philippine Star

Subsidies rise 7.34% in first half led by NIA
SUBSIDIES given to government-owned and -controlled corporations (GOCCs) rose 7.34% in the first half of the year, the Bureau of the Treasury (BTr) said.
— BusinessWorld Online

P100-b coco levy bill up for finetuning
THE congressional bicameral conference committee will try this week to reconcile conflicting provisisions in the proposed measure that will create the P100-billion coconut levy trust fund, Senator Cynthia A. Villar said on Sunday.
— Manilastandard.net

LandBank extends loans to transport firms for PUV modernization program
State-run Land Bank of the Philippines recently signed loan agreements with two transport companies to help them get started with the shift to safer and more efficient jeepneys in compliance with the government’s PUV modernization program.
— The Philippine Star

Duterte reduces property taxes of power plants
PRESIDENT Rodrigo Duterte has issued an executive order reducing and condoning the taxes and penalties on real property imposed on power generation facilities of independent power producers (IPPs).
— The Manila Times

ADB to support program enabling more disabled persons to work
The Asian Development Bank (ADB) said it would support more projects in the Asia Pacific region that would enable more persons with disabilities to contribute to the economy.
— The Philippine Star

Banks given two months to gear up for InstaPay
BANKS are given two months to get their online platforms ready to do real-time fund transfers under InstaPay, an industry official said, with only nine banks currently offering the full service.
— BusinessWorld Online

House suffers 10-point drop in satisfaction rating – SWS
The House of Representatives, the Senate, and the Cabinet of President Rodrigo Duterte registered lower net satisfaction ratings in the 2nd quarter of 2018, according to the results of a Social Weather Stations (SWS) survey released on Sunday, July 29.
— Rappler

MPT South eyes P25.3-B loans from local banks to build Calax
METRO Pacific Tollways South Corp. (MPT South) aims to close roughly P25.3 billion in loans next month from local lenders to bankroll the construction of the Cavite-Laguna Expressway (Calax).
— Business Mirror

Skilled labor shortage poses challenge to BBB — Villar
The prevailing mismatch between available labor and the skills required by the construction industry continues to be a headache for the government’s Build Build Build infrastructure program, Department of Public Works and Highways (DPWH) Secretary Mark Villar said over the weekend.
— The Philippine Star

Local assemblers to supply 140-K units in PUV modernization
Local vehicle manufacturers together with support industries have set their sights on replacing the estimated 200,000 public utility vehicles (PUVs) that will be phased-out under government’s modernization program.
— Philippine Canadian Inquirer

Improving battery storage in Southeast Asia
Rio Tuba, located in the Municipality of Bataraza on the island of Palawan in the Philippines is a predominantly mountainous region with roads riddled with potholes making it almost inaccessible especially during bad weather conditions.
— The Asean Post

Social enterprises create jobs for women, poor: PIDS
The government is urged to promote social enterprises (SEs) in rural areas to provide income-generating opportunities for women, marginalized groups and poor communities.
— Philippine News Agency

Neda prioritizing PPP projects to entice private-sector investments in regions
THE National Economic and Development Authority (Neda) is preparing a “menu” of possible public-private partnership (PPP) projects to entice the private sector to invest in various regions.
— Business Mirror

DoTR approves Cavite’s proposed Sangley airport
The local government of Cavite obtained the green light from the Department of Transportation to undertake the proposed $9.3-billion Sangley airpot project.
— Manilastandard.net

BPI bullish on growth of OF investors
The number of Overseas Filipino (OF) remitters and their beneficiaries who are into investments has tripled since 2013.
— The Manila Times

Pangasinan dengue cases up by 99%
Dengue cases in Pangasinan have increased by 99 percent, provincial health authorities said over the weekend.
— The Philippine Star

Cebu Pacific buys 5 more Airbus A320neo planes
FIVE additional Airbus A320neo aircraft are expected to join the Cebu Pacific fleet in 2019, and with the new jets, the airline may start offering services in “new markets” that will help strengthen the position of the budget carrier in the Philippines.
— Business Mirror

Expert says DepEd’s ALS ‘not fully effective’
Is the Department of Education’s (DepEd) Alternative Learning System (ALS) meeting its objectives?
— Rappler

DA’s challenge: Financial literacy
THE Department of Agriculture (DA) is facing a bigger challenge—to make farmers and fisherfolk financially literate.
— Sun Star

BSP working with stakeholders for a national QR Code
Bangko Sentral ng Pilipinas (BSP) is currently working with stakeholders to develop national QR code standards in line with its program to establish an effective electronic retail payment system.
— Philippine Canadian Inquirer

RPA executive offers to bring automation to Manila
A Romanian lady executive believes that automation holds the key to improving labor productivity in the Philippines.
— Manilastandard.net

DoT to start issuing seals to operate for Boracay establishments by Aug. 16
Accreditation for establishments in Boracay that are compliant with all environmental and legal requirements will be released beginning Aug. 16, in time for the October 26 reopening of the island tourist destination.
— BusinessWorld Online

Wanted in Poland: Filipino workers
Being a Catholic country has made the Philippines an attractive source of workers for Poland, whose right-wing government opposes taking in migrants.
— Inquirer.net

Philippines to participate in 12 international events
The Philippines plans to participate in 12 international trade events and conduct outbound business matching missions to six countries for the rest of the year to help promote the country’s exports, the Department of Trade and Industry (DTI) said.
— The Philippine Star

 

Feature photo Rainier Martin Ampongan

 

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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