Philippines morning news for November 16

Philippines morning news for November 16

Philippines morning newsRemittances total $21.3B end-September – BSP
Cash remittances sent by overseas Filipinos went up by 2.5 percent year-on-year to $21.3 billion, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Maria Almasara Cyd N. Tuaño-Amador said Thursday.
— Manila Bulletin

China ‘already in possession’ of South China Sea, says Duterte
As the US continues to ramp up its criticisms of China’s activity in the South China Sea, Philippines President Rodrigo Duterte is cozying up ever closer to Beijing.
— Asia Times

BSP hikes benchmark rate by 25 bps to 4.75%
The Monetary Board, the central bank policy-making body, raised key rates by 25 basis points (bps) Thursday — the fifth time it adjusted rates higher since May to a cumulative 175 bps — after considering the impact of non-monetary measures to 2019 and 2020 inflation path.
— Manila Bulletin

Senators eye cutting VAT from 12% to 10%
Sen. Panfilo M. Lacson Sr. confirmed on Thursday an emerging consensus in the Senate to back calls for the reduction of the value-added tax from 12 percent to 10 percent, along with a companion measure rationalizing existing VAT incentives.
— Business Mirror

NFA Council to adjust reference price for 203,000 metric tons rice imports
The National Food Authority Council will adjust the reference price used in the failed government-to-government bidding to secure the 203,000 metric tons (MT) of rice imports, Agriculture Secretary Emmanuel Piñol said.
— The Philippine Star

Arrest warrant vs. Imelda Marcos should be issued upon conviction — law professor
Former Supreme Court spokesperson Theodore Te on Thursday questioned the delay in the release of an arrest warrant for Ilocos Norte Representative and former first lady Imelda Marcos.
— CNN Philippines

P9.5-billion NGCP transmission line seen to decongest other substations for NCR
A P9.5-BILLION transmission line project proposed by the National Grid Corp. of the Philippines (NGCP) will help decongest other substations servicing Metro Manila and improve the reliability of the transmission system.
— Business Mirror

Philippines: Banana industry lobbying South Korea for tax-free imports
The Philipino Banana Growers and Exporters Association (PBGEA) has stated that it is in talks with its South Korean buyers to lobby Seoul for reach a bilateral agreement with the Philippines that allows for tax-free banana imports. The current tariffs are 30%.
— Fresh Plaza

US adds P595M to Mindanao dev’t funding
THE UNITED STATES on Tuesday announced a P595 million extension of the Mindanao Peace and Development Assistance Agreement, which supports various governance capacity-building projects in conflict-affected areas of Mindanao.
— BusinessWorld Online

Xi visits PH on Nov. 20-21
Malacañang announced on Thursday that Chinese President Xi Jinping would visit the country on Nov. 20 and 21.
— Philippine Daily Inquirer

DICT to recover PHP24-B bond if Mislatel sells company
The Department of Information and Communications Technology (DICT) will recover the PHP24-billion performance bond of the third winning telco and demand the return of frequency if it sells the company in the future.
— Philippine News Agency

‘Duterte wants death to Dengvaxia culprits’
If President Rodrigo Duterte had his way, those who allegedly conspired to procure and administer the controversial Dengvaxia vaccine to schoolchildren should be put to death.
— Manilastandard.net

House panel approves bill allowing early retirement for civil servants
A BILL lowering the optional retirement age for government employees to 56 years has been approved by the House Committee on Government Enterprises and Privatization.
— BusinessWorld Online

LRMC taps First Balfour for P650-million LRT-1 rehab
In addition to capital investments reaching over P10 billion to date for the upgrade of Light Rail Transit (LRT-1), private operator Light Rail Manila Corporation (LRMC) yesterday announced it has signed a P650-million agreement with First Balfour, Inc. and MRail, Inc. for the rehabilitation of 11 rectifier substations along the 21-kilometer line.
— Manila Bulletin

NFA to ease rice importation process for private sector
The National Food Authority (NFA) will finally make easier the rice importation process in the country more than a month after President Duterte gave the go-ahead to open the program to more players.
— Philippine Daily Inquirer

Cagayan Valley, MIMAROPA wage orders to take effect in late Nov.
MINIMUM WAGE adjustments will take effect in late November for Region II (the Cagayan Valley) and Region IV-B (Mindoro, Marinduque, Romblon, and Palawan, or MIMAROPA), the national wage commission said.
— BusinessWorld Online

Duterte: ‘South China Sea military action to create further friction’
With Beijing already in possession of vast areas in the South China Sea, the United States and other countries should just accept this “reality” and avoid creating “friction” that could lead to full-scale military confrontation, President Duterte said yesterday.
— The Philippine Star

NFA Council to cut import requirements for local traders
In what could be a desperate attempt to bring in more imported rice into the country, the NFA Council, the highest policy making body of the National Food Authority (NFA), has approved the guidelines that will reduce the requirements for local traders who intend to import the staple.
— Manila Bulletin

Philippines wins a seat in international data privacy body
ICDPPC is a worldwide conference of 119 independent regulators from all over the world, who come together and explore high-level proposals on data privacy and protection. Five elected members compose the Executive Committee of the Conference.
— Open Gov

Zero tariff in key markets hurting PHL banana exporters
The reduction of tariffs in key markets for Philippine bananas, such as South Korea and Japan, may drive local exporters out of business, according to the Pilipino Banana Growers and Exporters Association (PBGEA).
— Business Mirror

SC denies Ayala Land petition to claim insurance for 2007 Glorietta 2 blast
The Supreme Court (SC) denied the petition of Ayala Land Incorporated to claim insurance coverage for the damage it incurred from the explosion at Glorietta 2 (G2) mall in 2007.
— Rappler

Imelda Marcos cites multiple health problems
Former first lady Imelda Marcos cited her supposed fragile health condition brought about by at least seven ailments in her plea to the anti-graft court Sandiganbayan to allow her to post another bail bond and appeal her conviction on seven counts of graft.
— The Philippine Star

54th ASEAN-COCI to be held in Manila in 2019
The Philippines will host the 54th Meeting of the Association of Southeast Asian Nations (ASEAN) Committee on Culture and Information (COCI) in 2019.
— Philippine News Agency

MMDA to redesign P10-million Kamuning footbridge
The Metropolitan Manila Development Authority (MMDA) will modify the controversial P10-million footbridge across EDSA in Kamuning, Quezon City after receiving flak from the public.
— The Philippine Star

Residents, IPs hit move to divide Palawan into 3 provinces
A bill splitting Palawan into three smaller provinces incurred the ire of some residents and members of local indigenous peoples.
— ABS-CBN News (video)

Gunmen kill La Union town vice mayor, wounds daughter-mayor in ambush
Gunmen killed on Wednesday a vice mayor of a town in La Union and wounded his daughter, who also happens to be the town mayor, along with five others in a morning ambush.
— Business Mirror

500 households to be taught vegetable raising
About 500 households in Antique, Capiz, Batangas and Cavite will benefit from the public-private partnership project between East-West Seed Foundation (EWSF) and the Department of Social Welfare and Development under the Pantawid Pamilyang Pilipino Program (4Ps).
— The Manila Times

 

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. Since 2010 she has worked as a freelance screen writer for ‘Nollywood’, Nigeria.

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