Philippines morning news for October 31

Philippines morning news for October 31

Philippines morning news Dozens feared buried by ‘Rosita’ landslide in Mt. Province
Nearly three dozen people were feared buried under a massive landslide unleashed Tuesday in the Mountain Province by Typhoon “Rosita” (international name “Yutu”), which killed four children and a man as it ripped across the disaster-prone nation.
— Philippine Daily Iquirer

Philippine seas study: Fishing sector faces 2050 extinction
The marine fisheries harvest in the Philippines may vanish by 2050, according to the latest projections made in a new study on the marine impacts from climate change.
— AEC News Today

Q3 GDP likely grew faster than 6% — report
ECONOMIC GROWTH likely picked up last quarter from the preceding three months’ disappointing six percent, analysts of First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in their latest joint assessment, even as they still slashed their full-year 2018 projection.
— BusinessWorld Online

‘Sin’ tax collections top 9-month target at P155.3 B
Revenues from the so-called “sin” products continued to surge in the first nine months of the year, surpassing government expectations amid higher levies imposed on cigarettes and alcohol, the Department of Finance (DOF) said.
— Manila Bulletin

P25 minimum wage hike in Metro Manila approved
Metro Manila minimum wage earners will be receiving an additional P25 to their current P512 daily pay.
— Rappler

Typhoon Yutu kills 6 in Philippines
A strong typhoon blew across the northern Philippines on Tuesday, setting off landslides that left at least six people dead and forcing thousands to flee from villages that were still recovering from a deadly storm last month, officials said.
— Bangkok Post

Landslide buries DPWH building; 30 feared dead
At least 30 persons are feared dead after a landslide buried a Department of Public Works and Highways (DPWH) building in Mountain Province at the height of Typhoon Rosita yesterday afternoon.
— The Philippine Star

US agriculture exports to Philippines to hit $2.9 billion
The Philippines continues to increase its dependence on agricultural products coming from the US as imports are expected to reach $2.9 billion this year, the United States Department of Agriculture (USDA) said.
— The Philippine Star

Philippines, China establish yuan trading community
Thirteen Philippine banks, together with Bank of China, launched on Tuesday a trading community to make transacting using the Chinese currency cheaper and easier.
— ABS-CBN News

Currency deal seen to corner $120 billion investments from China
The Philippines is expected to win a larger share of China’s overseas investments, reaching an estimated $120 billion with the signing of an agreement that would pave the way for the direct conversion of the respective currencies of the two countries under a so-called Philippine Renminbi Trading Community (PRTC) and peso-renminbi spot market, according to Finance Secretary Carlos Dominguez.
— The Philippine Star

UPDATE 2-Philippines short-lists three company groups for LNG terminal project
The Philippines has short-listed three different groups to build and operate its first liquefied natural gas (LNG) import terminal and hopes to nominate one by November, its energy minister said on Tuesday.
— Reuters

PHL, US to tackle free-trade pact at Apec gab
MANILA and Washington are headed to Papua New Guinea for the Asia-Pacific Economic Cooperation (Apec) Summit with a crucial concern in mind: the future of their possible bilateral free trade agreement (FTA).
— Business Mirror

Watchdog calls for DoF chief’s resignation
An anti-corruption group called for the resignation of Finance Secretary Carlos Dominguez 3rd over his silence on alleged corruption in revenue-generating agencies of the government.
— The Manila Times

Another rate hike seen
The Bangko Sentral ng Pilipinas will likely raise policy rates by a maximum of 25 basis points before the end of the year, despite falling rice, food and oil prices, since bus and jeepney fares are supposed to rise by November.
— Malaya

Paddy rice farm-gate price fell 3.16% to P21.17/kg in 2nd week of October
THE average farm-gate price of paddy rice as of the second week of October fell by 3.16 percent to a four-month low of P21.17 per kilogram as palay harvest peaks, according to the Philippine Statistics Authority (PSA).
— Business Mirror

Insurers to set rules vs money laundering
THE INSURANCE Commission (IC) has issued guidelines mandating regulated entities to implement policies versus money laundering and terrorism financing.
— BusinessWorld Online

COA flags P710.59 M allowances of GOCC execs
The Commission on Audit (COA) has flagged at least P710.59 million in compensation and allowances that various government-owned and controlled corporations (GOCCs) have granted to their officials and employees in 2017.
— The Philippine Star

45+ International Universities to Meet Philippines’ Future Leaders
International demand for MBA and specialised Master’s graduates continues to increase, while students enter an increasingly globalised and competitive employment market.
— AEC News Today/ PR Newswire (media release)

Security Bank to open NAIA branches on Nov. 2
Security Bank announced on Tuesday that all its branches nationwide will be closed on Nov. 1, All Saints’ Day, but its branches at the Ninoy Aquino International Airport (NAIA) and NAIA Terminal 3 will be open for operations on November 2.
— Philippine News Agency

Cabcom okays four new projects worth P56.48 billion
The interagency Investment Coordination Committee (ICC) Cabinet Committee (Cabcom) has approved P56.48 billion worth of projects, according to the National Economic and Development Authority (Neda).
— Business Mirror

SMFB allots up to P41B for expansion until 2020
SAN MIGUEL Food and Beverage, Inc. (SMFB) is investing up to P41 billion until 2020 for the expansion of its food and brewery businesses, noting its existing factories are operating at almost full capacity.
— BusinessWorld Online

DepEd launches heritage school buildings restoration project
The Department of Education’s untiring effort to save the most notable and significant architectural legacies of both the Spanish and American regimes is now in full blast.
— The Manila Times

Int’l coalition slams Duterte sexism, attacks on women rights defenders
A global coalition that supports women human rights defenders has expressed grave concern over President Rodrigo Duterte’s suppsoed displays of sexism and misogyny.
— Philippines Magazine

BDO alerts clients vs phishing e-mails with ‘verify now’ link
Beware of phishing e-mails with a “verify now” link, Banco De Oro (BDO) Unibank warned its clients on Tuesday.
— Inquirer.net

Sulu asks SC to void Bangsamoro Organic Law, stop plebiscite
Months into its passage into law and before it could even be ratified, the Bangsamoro Organic Law (BOL) is facing its first legal challenge yet.
— ABS-CBN News

Car sales to rebound 10% next year
Vehicle sales will rebound 10 percent next year from a double-digit slump this year, two industry groups said Tuesday.
— Manilastandard.net

Majority of Filipino workers would switch careers for better salary, stability: survey
More than half of Filipino workers would switch careers for better pay and financial stability, a recent survey conducted by a recruitment company revealed.
— ABS-CBN News (video)

 

Feature photo Jes Aznar

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

 

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.

 

The following two tabs change content below.

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.

Support independent media by sharing using these tools. Do not steal our content

Leave a Reply

Your email address will not be published.