Philippines morning news for October 26

Philippines morning news for October 26

Philippines morning newsForeign tourist arrivals up 6.8% in September
Foreign tourist arrivals bounced back in September after contracting the previous month, and are bound to grow further as tourists gear up for the reopening of Boracay island on Friday after a six-month rehabilitation.
— The Philippine Star

‘Yutu’ strengthens, may enter PAR Saturday
Typhoon Yutu intensified as it continues to move towards the Philippine Area of Responsibility (PAR).
— Philippine News Agency

Philippine Leader Sacks Customs Chief Amid Drug Scandal
President Rodrigo Duterte on Thursday sacked the customs chief and other top agency officials, a day after a congressional inquiry heard that suspected Chinese traffickers had smuggled in billions of pesos in methamphetamine despite the government’s vaunted war on drugs.
— Benar News

P20 minimum wage hike proposal ‘demeaning’, says labor group
A labor group on Thursday hit the proposed P20 minimum wage hike by employers—an amount far lower than their proposed P334 increase for Metro Manila workers.
— ABS-CBN News (video)

PH, Japan to sign MRT rehab loan deal before end of October
The Philippines and Japan are set to sign a loan agreement for the rehabilitation of the Metro Rail Transit Line-3 (MRT-3) before the end of this month.
— Philippine News Agency

Boracay back in business; mayor suspended
After it was shut down for six months for rehabilitation, top tourist destination Boracay Island reopens today to tourists.
— The Philippine Star

Inflation elevated till yearend — BSP
WAGE and transport fare hikes will likely keep inflation high for the rest of 2018, the central bank said, adding that overall price increases are expected to moderate only next year.
— BusinessWorld Online

Philippines 5th most competitive economy in Southeast Asia
The Philippines is fifth most competitive economy in Southeast Asia and 56th out of 140 economies worldwide, according to the latest Global Competitiveness Report published by the World Economic Forum.
— Manilastandard.net

UN, PH working on aid plan for next 5 years
The United Nations (UN) is crafting an assistance plan for the Philippines that is focused on food security, the peace process, and environmental protection for the next five years.
— Philippine News Agency

Philippines, China set up peso-renminbi exchange
The Bangko Sentral ng Pilipinas (BSP) and the Bank of China are set to formally ratify next week the establishment of a system that will allow local banks to directly exchange renminbi (RMB) to peso and vice-versa at better rates.
— The Philippine Star

Philippines’ San Miguel further trims F&B unit’s IPO size, eyes $634m
San Miguel Corp, the Philippines’ largest company, is seeking to raise a mere P34 billion (about $634 million), less than half of its original target, through a sale of shares in its food unit after pricing the shares at the bottom of an indicative selling range.
— Deal Street Asia

PH wins seat in int’l privacy body
Despite being a newcomer to data privacy regulation, the Philippines has earned a voting seat in the 5-member executive committee of the International Conference of Data Protection and Privacy Commissioners (ICDPPC), a worldwide conference of 119 independent regulators from all over the world, coming together to explore high-level proposals on data privacy and protection.
— Manila Bulletin

Expat Life In The Philippines A Double-Edged Sword, Says Survey
The Philippines is more popular for expats within Southeast Asia for those seeking a partner and finding a place to raise their children, but it is not seen as the best country to live and work in, and the best-paid workers are found elsewhere.
— Investvine

PHL dairy imports up 12.64% in January-June–NDA report
Philippine dairy imports in the first half rose by 12.64 percent to 1.425 million metric tons in liquid milk equivalent (MMT-LME), from last year’s 1.265 MMT-LME, according to the National Dairy Authority (NDA).
— Business Mirror

PH, Spain prepare MOU for defense equipment deal
Ranking Department of National Defense (DND) officials and their counterparts from the Directorate General of Armaments and Materiel (DGAM) of Spain’s Ministry of Defense have met to discuss a proposed Memorandum of Understanding (MOU) which could serve as legal framework for the acquisition of Spanish military equipment through government-to-government deals.
— Philippine News Agency

DOT updates list of accredited resorts; drops 5 establishments
SIX MONTHS after Boracay Island was closed down for being a “cesspool,” it reopens on Friday with some 157 resorts accredited by the Department of Tourism (DOT) to receive guests.
— Business Mirror

China’s BRI to boost PH investments
China’s Belt and Road Initiative (BRI) is likely to result in an investment boost for Asean economies, a Singapore-based think tank said.
— The Manila Times

Out-of-pocket health expense of Pinoys rose in 2017–PSA
THE out-of-pocket (OOP) health expenses incurred by Filipinos continued to rise and expanded by 8.8 percent on an annual basis in 2017, according to the Philippine National Health Accounts (PNHA) released by the Philippine Statistics Authority (PSA).
— Business Mirror

2 companies charged for failure to pay P340M in taxes
The Bureau of Internal Revenue filed on Thursday separate criminal complaints against two companies for failure to pay more than P340 million in total taxes.
— ABS-CBN News

Duterte to open modern bus hub in Parañaque
President Rodrigo Duterte is set to lead the inauguration of the Parañaque Integrated Terminal Exchange on Nov. 5 this year, according to the Department of Transportation.
— Manilastandard.net

Chinese investors want clear incentives rules in PH: PEZA chief
Chinese companies are eyeing to relocate their operations in the Philippines with the ongoing trade friction between China and the United States, but investors want clear rules on fiscal incentives in the country, a government official said Monday.
— Philippine News Agency

Grab, Mastercard partner; eye PHL fintech dominance
GRAB is concretizing its intention of entering and dominating the Philippine financial technology (fintech) market with its regional partnership with Mastercard.
— Business Mirror

Thai firm to support PH sorghum production
THE PHILIPPINE unit of Thai firm Charoen Pokphand Foods (CP) has pledged to support the Sorghum Production Program (SPP) of the country to help provide a source of alternative feeds for the poultry and livestock industries.
— The Manila Times

PLDT, Google team up to improve broadband services
The Philippine Long Distance Telephone Co. (PLDT) has partnered with Google to improve its broadband services and wireless connectivity (Wi-Fi) in the country.
— Inquirer.net

Chinese, Singaporeans to redesign Cagayan ecozone
The Cagayan Economic Zone Authority (CEZA) has tapped a consortium of Singaporean and Chinese masterplanners to redesign its economic zone.
— Malaya

Bible most widely read book in Philippines
The Bible was the most widely read book in the Philippines in 2017, according to data from the National Book Development Board.
— Sight

PAGCOR sees gaming income rise 18.7% in 3Q18
Philippines gaming regulator PAGCOR saw its income from gaming operations grow 18.7% year-on-year to Php50.3 billion (US$937 million) in the three months to 30 September 2018.
— Inside Asian Gaming

‘4 million Filipinos to visit cemeteries on Nov. 1’
More than four million Filipinos are expected to visit their departed loved ones in cemeteries and columbariums in Metro Manila to observe All Saints’ Day on Nov. 1, a police official said yesterday.
— The Philippine Star

Quezon City police officer accidentally shoots self, dies
A police official died after he accidentally shot himself in his office in Quezon City yesterday morning.
— The Philippine Star

 

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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