Philippines Morning News For November 5

‘Hot’ money net inflow shrinks, but 10-month outflow much smaller
SHORT-TERM investments made by international players continued to flow out of the country in the first weeks of October, data from the Bangko Sentral ng Pilipinas (BSP) showed.
— Business Mirror

Growth likely picked up to 6.3% in Q3—Moody’s
The Philippine economy likely grew 6.3 percent in the third quarter, faster than 6 percent in the second quarter, on the back of sustained investment and strong domestic demand, Moody’s Analytics said in a report over the weekend.
— Manilastandard.net

Hong Kong nonprofit raises $2M for Philippines’ poorest
The people of Hong Kong are widely known for their generosity.
— Rappler

China builds weather stations in West Philippine Sea
China has started operating weather stations on its artificial islands in the West Philippine Sea (South China Sea), said Chinese Foreign Ministry spokesperson Lu Kang.
— Rappler

6.0-magnitude quake hits Philippines
An earthquake measuring 6.0 on the Richter scale jolted the Philippines’ Lanao del Norte province on Sunday, the US Geological Survey (USGS) said.
— Gulf News

GSIS allots P11-B loan for typhoon victims
The Government Service Insurance System (GSIS) has allotted P11 billion in emergency loan for its members affected by Typhoon Ompong and Tropical Depression Karding.
— The Philippine Star

DOF sees inflation easing to 6.5 percent in October
The Department of Finance (DOF) estimated that inflation likely slowed down last month following the decrease in retail costs of Filipinos’ staple food.
— Manila Bulletin

The economic costs of corruption in PH
The recent $200 million Customs debacle may be just a tip of the iceberg.
— The Manila Times

‘Paltry wage hike will lead to unrest’
THE country’s biggest labor group on Sunday warned that the meager P25 wage hike expected to be announced by the Department of Labor and Employment (DoLE) today would “break industrial peace” and trigger widespread discontent among workers.
— The Manila Times

Typhoon Rosita’s damage to agriculture reaches ₱1.82-B
Typhoon Rosita proved to be costly for the country, with over ₱1.82 billion in damage.
— CNN Philippines

With mobile app, pharmacy logbooks to go digital by 2020
The Food and Drug Administration (FDA) will begin implementing a policy requiring pharmacies nationwide to use a mobile application that will digitize logbooks by 2020.
— Rappler

Farm performance likely worse in Q3 — estimates
FARM PRODUCTION likely weighed on overall economic performance last quarter, according to the government’s agriculture chief and one economist who both said last week that they expect worse performance from the sector when the Philippine Statistics Authority (PSA) reports data on Wednesday.
— BusinessWorld Online

3 Pinoys to be feted for bridging Japan-PH ties
The Japanese government on Saturday announced it will confer decoration to three Filipinos who made their mark in bridging Japan-Philippines relations.
— Philippine News Agency

P175-B South Railway project to start Q2 2019
Construction of the P175-billion Philippine National Railways South Railways project, a 639-kilometer standard gauge railway line from Manila to Matnog, Sorsogon, and a component of the PNR Luzon System program, will finally push through next year.
— Manilastandard.net

US firms offering LNG supply to PH
Several American gas-producing companies are offering liquefied natural gas (LNG) supply to the Philippines as the country contemplates a technology reset process for its gas market.
— Manila Bulletin

First PH ‘landport’ to open Monday
The country’s first intermodal terminal will be open to commuters on Monday, in time for the onset of the holiday season.
— CNN Philippines

PhilHealth tops GOCC subsidies list for September at P5.30 billion
SUBSIDIES REMITTED by the national government to state-run firms surged in September, going largely to health care, banking, and irrigation arms of the government.
— BusinessWorld Online

Government starts cracking whip vs SRP violators
Starting this Friday, the government will start imposing sanctions on rice traders and retailers who do not comply with the implementation of the suggested retail price (SRP) rule for the Filipinos’ main staple.
— The Philippine Star

CDC, SBMA sign pact to boost Chinese skills
Two free ports in Central Luzon had signed a memorandum of understanding with Confucius Institute to sharpen their Chinese communication and cultural skills in attracting more investors and tourists from China.
— Manilastandard.net

Lower prices of basic goods to be felt this month – Pernia
Consumers should start to feel the effects of government efforts to bring down the prices of basic commodities starting this month, an economic manager said Sunday.
— ABS-CBN News (video)

AIRASIA PHILIPPINES PASSES MAJOR INTERNATIONAL SAFETY AUDIT
Manila-based AirAsia Philippines has passed a major international safety audit, the International Air Transport Association Operation Safety Audit (IOSA), that covers more than 1060 separate parameters.
— Airline Ratings

BSP puts up center for financial inclusion
The Bangko Sentral ng Pilipinas (BSP) has established an advocacy and learning center as part of its commitment to financial inclusion.
— The Philippine Star

Philippines largely compliant with exchange of info standards — DOF
The Philippines has been cited for its compliance with internationally agreed standards on the exchange of information on request (EOIR), according to the Department of Finance (DOF).
— The Philippine Star

Senate bills seek to give gov’t workers more benefits
Government employees toiling in the wee hours or working in dangerous places may soon receive more benefits under two bills in the Senate.
— Philippine Daily Inquirer

PSE to seek guidance from profit data
THE stock market will seek direction from listed companies’ earnings data that are scheduled to be released this week, analysts said.
— The Manila Times

Aussie nun who angered Duterte leaves the Philippines
An Australian nun who angered President Rodrigo Duterte by joining anti-government rallies has left the Philippines after a long battle against her deportation.
— The Straits Times

Philippines brings back ancient trade practice to move forward
In a bid to enliven economic activity in the border areas with Malaysia, the Philippines has taken a step back from its trading history with its neighbours and brought an ancient trading practice.
— Gulf News

Feature photo E2S

This week’s Philippines morning news feature photo acknowledges World Tsunami Awareness Day, November 5.

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.

Philippines morning news for November 5 added by Stella-maris Ewudolu on November 5, 2018
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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.