Philippines morning news for October 24

Philippines morning news for October 24

Philippines morning newsInfra spending jumped 70.5% in Aug
Government infrastructure spending jumped 70.5 percent year-on-year to P68.4 billion in August as more roads were built alongside purchases made by the military for communication equipment that month.
— Philippine Daily Inquirer

Almost 5,000 killed in government’s drug war as of September 2018
Almost 5,000 drug personalities have died in police operations since July 2016, the latest data from the Philippine Drug Enforcement Agency (PDEA) released on Tuesday showed.
— Philippines Magazine

Q3 fiscal deficit nears government full year target
The government’s aggressive spending program remains within target.
— CNN Philippines

PHL resorting to government-to-government to buy 203,000 metric tons of rice
MANILA has decided to purchase the unawarded 203,000 metric tons (MT) of rice from its previous open tender through a government-to-government (G2G) scheme as the National Food Authority (NFA) seeks to further boost its stockpile.
— Business Mirror

Survey forecasts 13.1% medical inflation in the Philippines in 2018
Based on the cost of private healthcare plans, the Philippines medical inflation rate is projected to reach 13.1 percent this year, according to Mercer Marsh Benefits’ 2018 Medical Trends Around the World.
— The Philippine Star

P6-million DoLE Central Luzon emergency fund helps typhoon victims
The Department of Labor and Employment in Central Luzon has launched an emergency program worth P6 million that benefited 1,466 residents who were victims of calamities that hit Pampanga and other provinces of the region.

Philippines seen to grow faster in second half
The Philippine economy is expected to grow faster in the second half on the back of strong government spending, ING Bank said Tuesday.

DOF eyes e-invoicing system to make VAT refunds possible
THE Department of Finance (DOF) is looking to establish an electronic invoicing system (e-invoicing) by 2020, which will allow for the implementation of a value-added tax (VAT) refund system for tourists visiting the country.
— Business Mirror

Govt spending to boost H2 growth
Higher government spending could allow the Philippine economy to grow by 6.0-6.5 percent in the second half of the year, an ING Bank Manila economist said.
— The Manila Times

No home to return to
The battle to establish Marawi as a wilayat or provincial territory by the ISIL-affiliated Maute-Abu Sayyaf group and the ensuing firefights to liberate the city by the Philippine government security forces was declared over by President Rodrigo Duterte, on 17 October, 2017.
— The Asean Post

Forex controls in the 1950s: Philippine economic history
The 1950s were an era of foreign exchange and import controls for the Philippines. This lasted for a solid one decade during which the country undertook to rehabilitate from the war and move toward political and economic independence.
— The Philippine Star

M&A, ‘greenfield’ FDI in PHL down in 2017
MERGERS and acquisitions (M&As) and “greenfield” foreign direct investments (FDI) in the Philippines declined in 2017, according to the Asian Development Bank (ADB).
— Business Mirror

PHL, US eye ‘next steps’ towards free trade talks
MANILA and Washington announced on Tuesday gains in resolving “a number of recurring bilateral trade issues” amid their intention to start talks on a prospective free trade pact.
— BusinessWorld Online

Tax-free shopping eyed for visitors
Foreign visitors could soon enjoy tax-free shopping in the Philippines if the Finance department has its way.
— The Manila Times

Wage boards decide on pay hike—Palace
The regional wage boards have the final say on whether or not to approve any petition seeking higher salaries, Malacañang said Tuesday following the labor groups’ petition for a bigger minimum wage increase in Metro Manila.

Local firms win bid to supply rice for Philippines
The companies won the bid last week after they offered prices of slightly under 428 USD per tonnes, revealed Judy Carol Dansal, head of the Philippines’ National Food Authority (NFA).
— VietNamNet Bridge

Facebook removes some pages linked to Duterte
Facebook has removed over 100 pages and accounts in the Philippines, including several linked to President Rodrigo Duterte, that it said violated its policies on spam.
— The Straits Times

BSP triples profit in 8 months
Earnings of the Bangko Sentral ng Pilipinas (BSP) tripled to P26.9 billion in the first eight months on higher revenues, lower interest expense, and record gains from foreign exchange fluctuations.
— The Philippine Star

Duterte warns local execs: Do drugs, commit treason
President Rodrigo Duterte on Monday warned local officials against involvement in the illegal drug trade, saying they could be held liable for “high treason.”
— Philippine Daily Inquirer

Duterte grants franchise to Villar-owned telecom systems
President Rodrigo Duterte granted the Villar family’s Streamtech Systems Technologies Inc a 25-year franchise to construct and operate a telecommunications system throughout the Philippines.
— Rappler

Duterte faces first serious dip in popularity ratings
His domestic reputation has survived a brutal drug war that took thousands of lives, a personal attack on religion, jokes about rape and a barrage of misogynistic comments about women.
— Gulf Times

Gov’t to distribute land to Boracay tribe in November – DAR
Boracay’s Ati tribe will soon gain ownership of lands on the island, which they can use for farming.
— CNN Philippines

Calida to appeal Trillanes ruling before CA
Malacañang on Tuesday said Solicitor General Jose Calida will elevate a Makati court’s decision denying the Department of Justice’s petition for an alias arrest warrant and travel ban against Senator Antonio Trillanes IV to the Court of Appeals (CA).
— Philippine Canadian Inquirer

9 firms now interested to bid for Malaya plant
Interests in the divestment of the 650-megawatt Malaya thermal power plant has been significantly stimulated; with nine prospective bidders already in the list of asset-seller, the Power Sector Assets and Liabilities Management Corporation (PSALM).
— Manila Bulletin

Use of S&T to boost food output, lower prices: NEDA
The government must invest more on science and technology (S&T) for the country’s food industry to bring down inflation, the National Economic and Development Authority (NEDA) said.
— Philippine News Agency

Ilocos Norte fisherfolk get P3.7-M fishing gears, paraphernalia
The Bureau of Fisheries and Aquatic Resources (BFAR) Region I distributed various fishing gears and paraphernalia and motorized bancas to 197 registered fisherfolk and 20 fisherfolk associations in the coastal city and towns of Ilocos Norte on Wednesday.
— Northbound Philippines

Sales of imported vehicles down by 13% Jan.-Sept. 2018
The Association of Vehicle Importers and Distributors (AVID) reported that sales of its declined by 13 percent to 65,917 units in January-September this year from 75,949 units sold during the same period in 2017.
— Philippine News Agency

Gov’t wants more clearing houses for digital deals
The Bangko Sentral ng Pilipinas is rushing the launch of more automated clearing houses (ACHs) particularly on government transactions as it aims to increase the level of cashless transactions to 20 percent by 2020 from the current level of about one percent.
— The Philippine Star

4 north Luzon SUCs join hands to hike glutinous corn production
Four state universities and colleges inked a memorandum of agreement Tuesday to hike production of two glutinous corn varieties in the region.
— Northbound Philippines

More senators oppose Arroyo’s proposal for PHL withdrawal from IPU
SENATORS on Tuesday opposed the proposal of House Speaker Gloria M. Arroyo for the Philippines to withdraw membership from the Inter-Parliamentary Union (IPU) after the international body intended to investigate the respective situations of detained Senator Leila M. De Lima and Senator Antonio F. Trillanes IV.
— BusinessWorld Online

Talim Island’s traditional bamboo entrepreneurs get livelihood boost
For decades now, residents of a barangay on Talim Island, the largest lake island in Laguna de Bay, have put up a viable livelihood out of bamboo grass that grows abundantly on the island’s hilly terrain by making barbecue sticks and earning as much as P6,400 to a low of P1,000, or an average of P2,776 monthly.
— Business Mirror

PH, Israel eye direct flight
A NON-STOP flight between two countries is seen to perk up trade and tourism of both.
— Sun Star

Serge Osmeña pushes for return of manual voting in 2019 elections
Former senator Sergio Osmeña III proposed on Tuesday that the Commission on Elections (Comelec) revert to manual voting and counting for the 2019 midterm elections.
— ABS-CBN News (video)

Power utilities seek 1-year extension on ROW clearing
Power utilities, primarily the country’s electric cooperatives, are seeking one-year extension on clearing of their facilities that will be traversed by the government’s infrastructure projects.
— Manila Bulletin

Gov’t sees rise in PH workers’ deployment to Israel
The Department of Labor and Employment (DOLE) is expecting an increase in the deployment of overseas Filipino workers (OFWs), particularly caregivers, to Israel after the deployment cost has been lowered from as high as USD12,000 to only more than USD2,000.
— Northbound Philippines

Philippines a great place for expats to find love, raise kids; but not the best to live, work
The Philippines is becoming a more popular expat destination in Southeast Asia, especially for those seeking a partner and finding a place to raise their children.
— Philippines Magazine

Rice retail prices to take effect on October 27
The implementation of suggested retail prices (SRP) for rice will take effect at a later date, October 27.
— CNN Philippines

Philippine Security Forces Kill Militant Leader Blamed for Bombing in South
Security forces in the southern Philippines killed a suspected leader of a Filipino pro-Islamic State (IS) group blamed for a bombing that wounded eight people last month, police said Tuesday.
— Benar News

ABS-CBN sells content to Thailand and Laos
Multi-media giant ABS-CBN Corporation has inked a deal with JKN Global, the top content provider and channel operator in Thailand, for the airing of more Filipino dramas in Thai and Laos television.
— Manila Bulletin

3 held for hauling banned dog meat
Three men were arrested by authorities after they were caught in the act of transporting around 54 pieces of dog carcasses in Barangay Mataas na Bayan in Lemery town, provincial police public information office chief, Senior Insp. Kerwin Amor Cabrales, said Sunday.
— Northbound Philippines


Feature photo Michael McDonald

This week’s Philippines morning news feature photo acknowledges World Development Information Day, October 24.


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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