Philippines morning news for October 15

Philippines morning news for October 15

Philippines morning newsTourist arrivals rise 8.5% in 8 months
Foreign arrivals increased by 8.5 percent to 4.85 million in the first eight months despite a decline in a number of top source markets, according to data from the Department of Tourism (DOT).
— The Philippine Star

Gov’t suspends 2nd tranche of fuel excise taxes to tame inflation
The government is suspending the implementation of the second tranche of fuel excise taxes, originally scheduled next year, to keep inflation in check, the Department of Finance (DOF) confirmed Sunday.
— ABS-CBN News

Gross borrowings jump 10%
The government’s gross borrowings in the first eight months of the year jumped by 9.98 percent, as funds borrowed externally posted a double-digit hike following the issuance of Samurai bonds in August.
— Malaya

PRRD tags rice tariffication bill as urgent: SAP Go
Special Assistant to the President Christopher Lawrence “Bong” Go on Sunday said President Rodrigo Duterte has certified the rice tariffication bill as urgent.
— Philippine news Agency

Government: P109 million aside for centenarians
The national government has set aside another P109 million to pay for the P100,000 cash gift of 1,090 Filipinos who will turn a century old next year, an opposition lawmaker said on Saturday.
— Manilastandard.net

Philippines mulls sponsoring catastrophe bond issue
The Philippines’ finance ministry said on Sunday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American earthquakes.
— Reuters

Philippines Retains UN Rights Council Seat Despite Duterte’s Drug War
The Philippines on Saturday announced its election to the U.N. Human Rights Council, calling it a proof that President Rodrigo Duterte was on the right track despite backlash from rights groups slamming the thousands of deaths in his anti-drug war.
— Benar News

EU to partner with PH, other nations on managing plastic use
The European Union (EU) will launch a regional program in 2019 to strengthen cooperation with the Philippines, and select countries in east and southeast Asia towards “sustainable” consumption and production of plastic which had been contributing to problems posed by climate change.
— Philippine news Agency

Philippines says UN rights council seat vindicates Duterte’s drug war
Granting the Philippines a fresh three-year term on the U.N. Human Rights Council has vindicated President Rodrigo Duterte’s crackdown on drugs and shown his detractors to be “morally corrupt”, senior officials said on Saturday.
— Channel NewsAsia

Rising interest rates add P400M to developer’s interest payment
DoubleDragon Properties Corp. may have to spend close to P450 million in interest expense on its outstanding loan annually due to the rise in interest rates.
— Malaya

LIST: Boracay hotels, resorts allowed to open this October
The Department of Tourism has allowed more resorts and hotels to operate when Boracay Island reopens on October 26.
— CNN Philippines

Telenor, PT&T interested in Philippines third telco bid
At least six companies have purchased the bid documents related to the selection process for the Philippines’ third telco.
— Telecomasia.net

2 to 3 cyclones may hit Philippines before yearend
The Philippines may be hit by two to three more tropical cyclones before the year ends, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration.
— The Philippine Star

ADB, World Bank vow to wipe out infra financing gap
The Asian Development Bank (ADB), Asian Infrastructure Investment Bank and the World Bank have committed to eliminate the infrastructure financing gap worth trillions of dollars to help countries meet the Sustainable Development Goals by 2030.
— Business Mirror

PDRF partners with FAO in making PH a ‘healthier and safer country’
The Food and Agriculture Organization of the United Nations (FAO) and the Philippine Disaster Resilience Foundation (PDRF) have signed a memorandum of understanding (MOU) that will enable collaborations on emergency response, preparedness, mitigation and building livelihood resilience.
— Manila Bulletin

Lazada leads e-commerce players in PH–study
Based on the average quarterly traffic, mobile application ranking, social media followers and number of staff, Lazada Philippines dominates the e-commerce competition in the Philippines, with approximately 35 million visits per month, according to a report on the competition of eCommerce marketplaces in the Philippines in the second quarter of 2018.
— The Manila Times

Pinoy bizmen urged to open shops in China’s ‘Silk Road’ district
Filipino businessman are urged to explore opportunities in Tang West Market here, the original site of the starting point of the ancient network of trade routes called ‘Silk Road’.
— Philippine news Agency

SoKor to hike trade, Investments in PH
The Republic of Korea has pledged to increase its trade and investments in the Philippines as a result of a deepening relationship between the two countries.
— Malaya

DTI boosts P3 funding for MSMEs by P100 M
The Department of Trade and Industry (DTI) added another P100 million loan fund for micro, small and medium enterprises (MSMEs) under the Pondo sa Pagbabago at Pag-asenso (P3) program.
— The Philippine Star

Duterte: Thorough probe first before blaming Chinese for drugs in PH
President Rodrigo Duterte on Sunday, October 14, said the Chinese should not be immediately blamed for the presence of illegal drugs in the Philippines.
— Rappler (video)

PH running out of rules-compliant garment factories – FOBAP
The garment manufacturing industry is running out of good factories to produce apparel as more orders intended for China have been diverted to the Philippines as a result of the trade ware between the US and China, according to the Foreign Buyers Association of the Philippines (FOBAP).
— Manila Bulletin

SAP clarifies oil tax freeze may lead to P40-billion revenue loss
President Rodrigo Duterte is planning to suspend the second tranche of excise taxes on fuel to temper accelerating inflation, a Finance official said Sunday.
— Manilastandard.net

Russia state firm backs PH nuke research
The Russian State Atomic Energy Corp. (ROSATOM) is looking for more opportunities to support the Philippines in its nuclear research program in collaboration with the Philippine Nuclear Research Institute (PNRI).
— Malaya

Hit squads under scrutiny as Philippine elections loom
Manila: Authorities in the Philippines are closely monitoring the activities of some 77 private armed groups in the run-up to the May 2019 mid-term elections, a senior official has said.
— Gulf News

AC Energy inks $83-million EPC contract for development of solar farms in Vietnam
AC ENERGY, Inc., along with its Vietnamese partner, has signed construction and financing contracts for the development of solar plants in Vietnam valued at an estimated $83 million, the Ayala-led company said during the weekend.
— BusinessWorld Online

Pilipinas Shell to spend P2B yearly for expansion
PILIPINAS Shell Petroleum Corp. plans to spend P2 billion annually over the next two to three years to expand its domestic retail network.
— The Manila Times

Boracay tourists advised: No booking in establishments without gov’t clearance
THE DEPARTMENT of Environment and Natural Resources (DENR) warned tourists in Boracay against making reservations in establishments which have not yet received government clearance to operate.
— BusinessWorld Online

PHL pork imports seen expanding by 11% in 2019
The country’s pork imports could rise by 11 percent next year to augment local supply and meet the increasing demand for pork, according to the United States Department of Agriculture (USDA).
— Business Mirror

DOH: 128 HIV cases recorded in August
Cases of human immunodeficiency virus (HIV) due to paid sex continue to rise, a recent report by the Department of Health (DOH) showed.
— The Philippine Star

PH data analytics firm among the Top in Asia
Data science and management consulting firm, Cobena, is the only Filipino startup to make it to APAC CIO Outlook’s Top 10 Business Intelligence (BI) Solution Providers in 2018.
— The Manila Times

LandBank to aid poor towns in northern Luzon
Government-owned Landbank of the Philippines (LandBank) kicked-off on Friday a series of forum with fourth to sixth class municipalities from Regions 1, 2, 3 and the Cordillera, to aid small towns in passing the Seal of Good Local Governance (SGLG) and avail of the bank’s loans for development programs.
— Northbound Philippines

 

Feature photo cornellcurrent

This week’s Philippines morning news feature photo acknowledges International Day for the Eradication of Poverty, October 17.

 

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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