Philippines morning news for November 15

Philippines morning news for November 15

Philippines morning newsForeign direct investments for January to August 2018 up by 31%
Investor confidence in the Philippine economy “remained strong” as foreign direct investments (FDIs) from January to August 2018 soared by 31% at $7.42 billion.
— Rappler

Sandiganbayan defers arrest of Imelda Marcos
The first week of former first lady Imelda Marcos’ conviction for graft would likely pass without her being arrested, as the Sandiganbayan “deferred” the issuance of a warrant due to a pending plea for its consent to her pursuit of an appeal.
— Philippine Daily Inquirer

Senate approves bill lifting rice import caps
VOTING 14-0 on third reading, the Senate on Wednesday adopted Committee Report 440 endorsing passage of a law replacing the quantitative import restrictions on rice with tariffs. The House of Representatives had earlier passed its version.
— Business Mirror

PCCI cautions gov’t on plan to close Palawan beaches
The Philippine Chamber of Commerce and Industry (PCCI), the largest umbrella organization of more than 35,000 enterprises in the country, yesterday cautioned the government to carefully study the possible proposal to close El Nido and Coron, Palawan, considered as the last frontier of the Philippines.
— Manila Bulletin

$400-M ADB loan for Marawi rehab seen approved by Dec.
THE ASIAN Development Bank (ADB) said it is preparing a $400-million emergency assistance loan to support Marawi City’s rehabilitation.
— BusinessWorld Online

Small entrepreneurs in Manila get P26-million loan
The Manila city government has released P26 million in loan assistance to vendors and other small-scale businessmen.
— The Philippine Star

Philippines’ Duterte skips summit meetings but is in ‘top shape’
Philippine President Rodrigo Duterte skipped several meetings at an Asia-Pacific summit in Singapore on Wednesday (Nov 14), prompting the 73-year-old’s office to issue a statement scotching speculation that it was due to ill health.
— Channel NewsAsia

Senate approves Rice Tariffication Bill on 3rd reading
The Senate on Wednesday passed on third and final reading Senate Bill No. 1998, or the proposed rice tariffication bill, which President Rodrigo Duterte certified as urgent in a bid to bring down the price of rice in the market and reduce inflation.
— Philippine News Agency

Tax amnesty bill bags 2nd reading House approval
THE HOUSE of Representatives on Wednesday approved on second reading a proposed general tax amnesty covering liabilities until 2017, a day after the Senate did the same.
— BusinessWorld Online

Telcos gear up for competition
Philippine Telegraph and Telephone Corp. (PT&T) plans to transform itself into a digital service provider as it forays into cyber security, smart cities and the Internet of Things (IoT) in the future, and will be ready when mobile for 5G comes to the country.
— Malaya

Dominguez: Bank secrecy to cost govt
The government could lose as much as P15 billion in additional revenues if the proposed lifting of bank secrecy law is not approved by Congress, Finance Secretary Carlos Dominguez said on Wednesday.
— The Manila Times

Senate approves Rice Tariffication Bill on 3rd reading
The Senate on Wednesday passed on third and final reading Senate Bill No. 1998, or the proposed rice tariffication bill, which President Rodrigo Duterte certified as urgent in a bid to bring down the price of rice in the market and reduce inflation.
— Philippine News Agency

Senators say revenues from tariffs on imported rice be given to farmers
Revenues that would be raised from the tariffs on imported rice would be allocated primarily to local farmers under the Senate’s version of the proposed rice tariffication law.
— Manila Bulletin

Banks have little interest in term-deposit facility, BSP scales down offer
BANKS on Wednesday shied away from the Bangko Sentral ng Pilipinas’s (BSP) term-deposit facility (TDF), as it registered undersubscription across all tenors during the week.
— Business Mirror

Construction firm needs 5K workers
Atlantic Gulf & Pacific (AG&P), a global leader in gas logistics and construction services, is hiring 5,000 skilled workers in addition to its over 2,000-strong workforce, to support its strong re-entry into the domestic heavy industry construction market.
— Malaya

Oil tax hike suspension OKd
Malacañang formally approved the suspension of the second round of increase in excise tax rates of P2 per liter on petroleum scheduled in 2019 under the tax reform law.
— Malaya

Solano implements plastic container ban
The local government unit here is strictly enforcing the regulatory use of plastics as containers for dry and wet goods bought from business establishments.
— The Manila Times

The long road to Marcos ill-gotten wealth recovery
Thirty years have passed since the first batch of cases against then former President Ferdinand Marcos, his family and cronies were filed, and the legal battle continues to this day.
— CNN Philippines

P12.35B water supply JV signed
Metro Pacific Investments Corp. (MPIC) said its subsidiary MetroPac Water Investments Corp. entered into a joint venture agreement (JVA) with Metro Iloilo Water District (MIWD) for the rehabilitation, operation, maintenance and expansion of existing water distribution system and the construction of wastewater facilities in the area.
— Malaya

European group warns vs taxing healthcare benefits
European businessmen are concerned over a recent memorandum from the country’s main tax agency saying healthcare benefits can be taxed.
— ABS-CBN News (video)

Government nixes Sear Telecom, PT&T appeal
FINDING no merit to their appeal, the selection committee for the third telco search has denied the motions for reconsideration filed separately by the two disqualified bidders, who still has more legal options to overturn the regulator’s decision for their disqualification.
— Business Mirror

QC to set up solid waste disposal facility
Quezon City has moved closer to having a long-term and sustainable solution to its solid waste disposal situation with the approval of a ground-breaking proposal from a private partner.
— The Manila Times

Harm reduction seen to stem Asia’s smoking epidemic
Leading think tanks asked policy makers in Asia to consider adopting tobacco harm reduction approach and provide access and accurate information on alternative nicotine products such as electronic cigarettes, heated tobacco products and snus.
— Manilastandard.net

Bill dividing Palawan into 3 provinces will likely benefit China: analyst
Palawan on China’s mind. That’s according to an international political analyst who says a current bill that aims to divide Palawan into three smaller provinces could work in Beijing’s favor.
— ABS-CBN News (video)

Indonesia to hold 3-day expo in Davao
The Consulate General of Indonesia in Davao City will hold a three-day expo that will introduce some of its country’s quality export products.
— Minda News

Globe says data traffic up 49 percent in Jan to Sept
Globe Telecom said Wednesday its data traffic rose 49 percent in the first 9 months of the year, as the telecommunications industry braced for the entry of third player.
— ABS-CBN News

 

Feature photo ProjectsAbroad

This week’s Philippines morning news feature photo acknowledges World Diabetes Day, 14 November.

 

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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