Philippines morning news for September 11

Philippines morning news for September 11

Philippines morning newsBSP reports 42.4% hike in FDI inflows to $5.8 B in first half
The country’s net foreign direct investments (FDI) climbed to $5.8 billion for the first six months of the year, up by 42.4 percent from $4 billion same time in 2017, the Bangko Sentral ng Pilipinas (BSP) reported Monday.
— Manila Bulletin

House okays TRABAHO bill, (TRAIN 2) on final reading
Voting 187-14-3, the House of Representatives on Monday approved on third and final reading the proposed “Tax Reform for Attracting Better and High-
Quality Opportunities” or TRABAHO which proposes to encourage investments by bringing down the corporate income tax rate from 30 percent to 20 percent and modernize investment tax incentives to enhance fairness, improve competitiveness, plug tax leakages and attain fiscal sustainability.
— Manilastandard.net

Duterte to ‘address the nation’ on Tuesday — Palace
President Rodrigo Duterte will hold a press conference at 3 p.m. Tuesday.
— CNN Philippines

DPWH to do P2.76 billion worth of projects in UP campuses
THE Department of Public Works and Highways (DPWH) will carry out P2.76 billion worth of projects in various campuses of the University of the Philippines (UP), after signing a memorandum of agreement with the institution.
— Business Mirror

Rediscount borrowings reach P9.41B in August
BANKS SCRAMBLED to get hold of rediscount loans from the Bangko Sentral ng Pilipinas (BSP) in August to hit nearly P10 billion at a time of rising interest rates.
— BusinessWorld Online

Landbank lends P40 billion to agriculture
Government-run Land Bank of the Philippines extended P40 billion in loans to the agriculture sector for the first half as it targets to reach more farmers and fisherfolks nationwide.
— The Philippine Star

PH gov’t now seeking nearly P72 million from Xiamen Air
The Philippine government is now seeking nearly P72 million from Xiamen Air for its runway mishap at the Ninoy Aquino International Airport (NAIA).
— Rappler

Piñol: Rice prices to stabilize by Nov
Without factoring in the coming typhoons, Emmanuel Piñol, secretary of the Department of Agriculture (DA), yesterday said the price of rice will stabilize by November with the onset of the harvest season and the arrival of overdue rice imports.
— Malaya

Makati court defers arrest of Sen. Antonio Trillanes IV
Another court in Makati City has denied the Department of Justice (DOJ)’s motion to issue an arrest warrant and travel ban against opposition Sen. Antonio Trillanes IV without any hearing.
— The Philippine Star

Consumer group says SRPs of basic commodities up 52%
The Laban Konsyumer Inc. (LKI) yesterday said the suggested retail prices (SRPs) of basic and prime commodities monitored by the Department of Trade and Industry (DTI) rose an average of 52 percent since the beginning of the year.
— Malaya

Solon says rising inflation leads to 5 million ‘new poor Filipinos’
The skyrocketing prices of commodities have pushed a huge number of Filipinos towards the poverty line, a lawmaker said.
— CNN Philippines

RCBC offers first tranche of P20-B LTNCD program
RIZAL COMMERCIAL Banking Corp. (RCBC) has started its offer the first tranche of its P20-billion long-term negotiable certificates of deposit (LTNCD) program to raise funds.
— BusinessWorld Online

Gazmin’s approval voids Trillanes’ amnesty: Panelo
The amnesty granted to Senator Antonio Trillanes IV was invalid from the start since it was signed by former Defense Secretary Voltaire Gazmin and not by former president Benigno Aquino III, Chief Presidential Legal Counsel Salvador Panelo said on Monday.
— Philippine News Agency

PNOC kicks off tender process for $600-M LNG terminal
After changing tack on its quest for a strategic partner, state-run Philippine National Oil Company (PNOC) announced that it will start its tendering process for its downscaled US$600 million liquefied natural gas (LNG) import facility.
— Manila Bulletin

Senate to pass rice tariffication bill in September
THE head of the Senate Committee on Agriculture and Food vowed that the upper chamber will pass the rice tariffication bill within the month after the Economic Development Cluster’s (EDC) recommended fast-tracking the measure as one of the nonmonetary
inflation busters.
— Business Mirror

DOF admits mistake on August inflation
The finance department answers growing criticism of the economic team’s handling of inflation.
— ABS-CBN (video)

PISI reiterates call to ban outdated steel-making furnaces
The Philippine Iron and Steel Institute (PISI) has reiterated its call on government to ban obsolete induction furnaces producing substandard steel bars as well as intensifying market monitoring and enforcement campaign.
— Philippine News Agency

PHL needs more airports, but officials grapple with timing, viability concerns
THE proposed airport modernization of the country’s three gateways will not be realized until after two years, at least with respect to the Ninoy Aquino International Airport (Naia) and Clark International Airport (CIA).
— Business Mirror

Japan’s abandoned goods find second homes in Philippines
At the dockside in Nagoya Port, a large steel container measuring about 12 meters long by 2.5 meters wide and 2.5 meters high, and weighing about 10 tons, is loaded onto a ship. Its intended destination is the Philippines.
— Japan Today

DTI dismisses pleas to impose price ceilings
The Department of Trade and Industry (DTI) will not impose price ceilings on manufactured goods, relying instead on the promise of companies not to increase
prices in the next few months.
— Philippine Daily Inquirer

‘The Nun’ possesses PH Box-Office with P129.9-M in 4 days
“The Nun,” the terrifying new chapter in New Line Cinema’s and James Wan’s Conjuring universe, scared up a four-day opening weekend gross of P129.9-M at
the Philippine box office in only 296 screens nationwide.
— Pop.inquirer.net

DA to give Bukidnon veggie growers P20M
The Department of Agriculture (DA) said it would provide P20-million easy access credit to a farmers’ group in Bukidnon which would be used to buy vegetables from the province for delivery to Metro Manila markets.
— The Manila Times

NKTI to buy 2 more machines to treat deadly leptospirosis
THE National Kidney and Transplant Institute (NKTI) said on Monday it is spending around P16 million to purchase two more units of Extracorporeal Membrane Oxygenator (Ecmo), a technology used in the management of pulmonary hemorrhage in leptospirosis, ahead of a spike in cases of the flood-borne disease, since the rainy season is not over yet.
— Business Mirror

Demand from Chinese drives up rental rates in Makati, Bay Area
CHINESE employees of offshore gaming companies are pushing rental rates by 30% to 50% higher in some residential condominium properties in the Bay Area and Makati City, as the offshore gaming sector continues to expand in the country.
— BusinessWorld Online

 

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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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