Philippines Morning News For October 30

Rosita makes landfall in Isabela
Typhoon Rosita (international name Yutu) made landfall in Dinapigue, Isabela at 4 a.m. Tuesday, state weather bureau PAGASA said.
— ABS-CBN News

PHL seeks $811.5-million World Bank loans, grants for 7 projects
THE Philippines is seeking $811.5 million in World Bank loans and grants for seven projects included in the pipeline as of October 2018.
— Business Mirror

Economist forecasts 6% growth in Q3
An ING Bank NV Manila Branch economist forecasted a 6.3 percent growth in the Philippine economy in the third quarter this year, higher than the 6 percent in the second quarter, due to stronger government spending.
— Philippine News Agency

PHL, China to sign at least five agreements during Xi Jinping’s visit
The Philippines’ economic managers met on Monday with a delegation from top trading partner China, led by State Councilor and Foreign Minister Wang Yi, to prepare the groundwork for at least five deals that are expected to be signed during President Xi Jinping’s November visit.
— BusinessWorld Online

Philippines doubts ASEAN, China can come up with legally binding South China sea code
The Philippines’ new foreign minister said on Monday the 10-member Association of Southeast Asian Nations and China would unlikely be able to arrive at a legally binding code of conduct for the South China Sea.
— Reuters

‘Rosita’ keeps strength, more areas under signal no. 3
Typhoon Rosita (international name: Yutu) stays strong as it keeps on its path to the country.
— CNN Philippines

NEDA OKs P10B Marawi rehab projects
The National Economic and Development Authority (NEDA) Board Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved two projects for the rehabilitation and recovery of Marawi City, valued at almost P10 billion.
— Malaya

New wage float from labor: P100 to P334
ORGANIZED labor said on Monday they are ready to be more flexible in their wage hike demand to get a better deal during the ongoing deliberations of the regional wage board in Metro Manila.
— Business Mirror

Gov’t spending for intelligence in 2017 rose by whopping 102%
THE national government’s “confidential, intelligence, and extraordinary expenses (CIE)” in 2017 rose by a whopping 101.78 percent to P8.98 billion compared to P4.52 billion in 2016.
— Malaya

Sustainable livelihood program to get P2.3B
THE government has allotted P2.3 billion for a program that will provide eligible beneficiaries access to sustainable income sources, the Department of Budget and Management (DBM) said on Monday.
— The Manila Times

Food service sales in PHL seen breaching $14B
FOOD service sales in the country could surpass the $14-billion mark this year as the improvement in the purchasing power of Filipinos and worsening traffic in urban areas are pushing them to dine out.
— Business Mirror

209 business firms in ‘Bora’ fined P43 million for violations
At least 209 business establishments in Aklan’s Boracay Island have been fined for a total of P43 million due to various violations of environmental laws.
— Manilastandard.net

Inflation barely touches cost of dying
Consumer prices continue to rise, but galloping inflation has so far hardly affected the cost of dying and the prices of items for remembering the dead.
— The Philippine Star

Duterte abolishes Philippine Sugar Corp.
President Rodrigo Duterte has ordered the abolition of Philippine Sugar Corporation (Philsucor), saying its function is no longer needed.
— ABS-CBN News

ABB to enhance process and power management for Philippines petrochemical facility
ABB has won an order from JG Summit Petrochemical Corporation, a subsidiary of JG Summit Holdings, Inc., to supply electrical and process power management systems for its petrochemical expansion project.
— Automation.com (media release)

WB notes ‘well-developed’ PHL safety nets but finds inefficiencies in execution
THE WORLD BANK (WB) said that the Philippines’ social protection measures are “well-developed” with increased coverage for the marginalized, but noted gaps in inter-government coordination.
— BusinessWorld Online

‘No more fancy brand names’: Rice labelling and pricing rules introduced in Philippines amid supply crisis
Food companies have been warned to avoid fancy ‘nicknames’ for rice as suggested retail prices (SRPs) are implemented in the Philippines, in a move that the government hopes will alleviate the country’s rising food troubles.
— FoodNavigator-Asia.com

Domestic flights canceled due to ‘Rosita’
Local carriers have canceled several domestic flights scheduled for Monday and Tuesday due to Typhoon Rosita.
— Philippine News Agency

Duterte engaging China via backdoor diplomacy
China is now advancing its own “peace through strength” approach to the South China Sea, a combination of charm and militarism aimed at countering the United States in a front line theater in their emerging new cold war.
— Asia Times

Holding Duterte accountable
On 12 October, the Philippines’ Department of Foreign Affairs announced that the country had won its bid for a seat in the United Nations Human Rights Council (UNHRC).
— The Asean Post

Gov’t to start 6-month test of national ID system in 2018
Before 2018 is over, the government will begin a “proof of concept” trial period for the issuance of national identification cards officially known as Philippine Identification System (PhilSys) IDs. (READ: National ID law: Here’s the law, plus a quick summary)
— Rappler

Taiwan firm opens first gold stripping plant in PH
Taiwanese firm Philippine Xin Ye Industry Ltd., Inc. wants to secure deals with more large-scale and small-scale miners for its gold stripping technology, a top official said.
— Manila Bulletin

Meralco unit, Korea partner to bring new rail technology to the Philippines
MRAIL Inc., a subsidiary of power distribution giant Manila Electric Co., is teaming up with Seoul Metro to bring the latest technology to the country’s railway system.
— The Philippine Star

Philippines still compelling for miners, but mineral output growth to ease
THE PHILIPPINES will remain a compelling case for miners at least until the end of President Rodrigo R. Duterte’s term in 2022 despite an increasingly trying regulatory environment, according to Fitch Solution’s Philippines Mining Report.
— BusinessWorld Online

LTFRB grants special permits to 1,355 buses for ‘Undas’
The Land Transportation Franchising and Regulatory Board (LTFRB) has granted special permits to 1,355 public utility buses nationwide from October 30 to November 5 to serve passengers during the All Saints’ and All Souls’ Days.
— Northbound Philippines

Feature photo Jes Aznar

This week’s Philippines morning news feature photo acknowledges International Day to End Impunity for Crimes against Journalists, 2 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.

Philippines morning news for October 30 added by Stella-maris Ewudolu on October 30, 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.