Philippines morning news for September 12

Philippines morning news for September 12

Philippines morning newsHealth care inflation seen topping 13% in 2018
INFLATION in health care costs will remain in the double digits in 2018, driven by non-communicable diseases, an international employee benefits firm said.
— BusinessWorld Online

Trade gap widens further: Imports up 31.6%, exports stay flat
The country continued to incur a trade deficit in July as imports significantly outpaced the flat growth in exports, data released by the Philippine Statistics Authority (PSA) showed.
— Malaya

Duterte taunts military over alleged plan to oust him
President Rodrigo Duterte on Tuesday dared the Philippine military to stage a coup to remove him amid speculation of a hostile takeover attempt by the opposition.
— Nikkei Asian Review (paywall)

Officials warn of ‘Yolanda-type’ disasters as ‘Mangkhut’ nears PH
A rainy weekend awaits residents in northern Luzon, Western Visayas and Mindanao as typhoon “Mangkhut” approaches the country, weather officials reported Tuesday.
— CNN Philippines

‘Mangkhut’ could damage P11-B worth of crops in N. Luzon: DA
Agriculture Secretary Emmanuel Piñol on Tuesday warned that Typhoon Mangkhut may damage more than PHP11 billion worth of rice and corn crops if it hits northern Luzon.
— Northbound Philippines

NFA administrator out Duterte asks Congress: ‘Abolish NFA Council’
With the country’s rice supply still dwindling, President Duterte is now in search of a new head for the state-run National Food Authority (NFA) after his appointee Jason Aquino requested to be relieved.
— The Philippine Star

House wants P6-B fund to provide microloans for MSMEs
The House of Representatives on Tuesday adopted a resolution requesting President Rodrigo Duterte to allocate PHP6 billion in the 2019 budget for the micro-lending program of the Department of Trade and Industry (DTI) for micro, small and medium enterprises (MSMEs).
— Philippine News Agency

Banks’ property exposures up 12% at P2.14 trillion
Banks’ real estate exposures totaled P1.93 trillion in the first six months, up 12.20 percent year-on-year, data from the Bangko Sentral ng Pilipinas (BSP) said.
— Manila Bulletin

Malacañang cancels Duterte’s press conference
An hour before it was scheduled to begin, President Rodrigo Duterte’s much-awaited press conference on Tuesday, September 11, was cancelled, Malacañang announced.
— Rappler

Philippines’ Duterte alleges coup plot based on tip from a foreign power
Philippine President Rodrigo Duterte on Tuesday revealed what he said was a plot to unseat him hatched by the opposition, Maoist rebels and a group of former soldiers who had mounted failed coups in the past.
— Euronews

High court denies TRO, Trillanes arrest looms
Sen. Antonio Trillanes 4th may be arrested anytime after the Supreme Court denied the opposition lawmaker’s request for a temporary restraining order on President Rodrigo Duterte’s proclamation revoking his amnesty, Malacañang said on Tuesday.
— The Manila Times

Trillanes’ amnesty, one of Aquino’s ‘glaring mistakes’: PRRD
President Rodrigo Duterte on Tuesday said the amnesty granted to Oakwood mutineers, including Senator Antonio Trillanes IV, was one of the glaring mistakes of the previous administration of former president Benigno Aquino III.
— Northbound Philippines

PH’s rice inventory not improving at all, declines by 25%
As government officials and lawmakers resort to blame game for the surge in the price of rice in the market, the country’s rice inventory is also not getting any better, falling by 25 percent year-on- year despite the entry of imported stocks.
— Manila Bulletin

Bicol wage board OKs P20 to P30 pay hike for minimum-wage earners
THE regional wage board in the Bicol Region has recently issued a new wage order raising the daily pay of minimum-wage earners within the P20 to P30 range.
— Business Mirror

Habagat causes P79.5-M worth of agri damage in Ilocos Sur
The continuous southwest monsoon rains enhanced by Tropical Depression “Luis” experienced in the province in August have destroyed an almost P80-million-worth of crops, the Provincial Disaster Risk Reduction Management Office (PDRRMO) reported.
— Philippine Information Agency

Japan’s Universal moves to list Philippine casino, amid Duterte’s sector crackdown
Japan’s Universal Entertainment Corp (6425.T) is taking its Philippines casino operator public through a backdoor listing in Manila, amid an uncertain political environment for the business in the Southeast Asian nation.
— Reuters

60% of sites nationwide upgraded to LTE technology: Smart
PLDT wireless unit, Smart Communications, announced that it has deployed more Long Term Evolution (LTE) and LTE-Advanced sites nationwide during the year’s first half, resulting in higher mobile data traffic.
— Philippine News Agency

Workers’ strikes result of Duterte’s policy failure – labor groups
Labor groups hit back at President Rodrigo Duterte, saying that strikes are a result of the Chief Executive’s failure to uplift working conditions.
— Rappler

Employers, worried by inflation, seek fuel excise tax suspension
THE rising inflation is now sending shivers down the spine of employers, and they are now recommending the suspension of the excise tax on oil to temper the cost of transport and power.
— Business Mirror

Gov’t rejects all bids for T-bonds as investors ask for higher yields
THE GOVERNMENT rejected all bids for the reissued 10-year Treasury bonds (T-bond) it offered yesterday as investors demanded higher rates amid market expectations of another rate hike from the local central bank.
— BusinessWorld Online

Banks’ real estate loans slide 20% in June 2018
The exposure of the Philippine banking industry in the volatile real estate sector eased as of end-June, falling below 20 percent of their loan book for the first time in three years, according to the Bangko Sentral ng Pilipinas (BSP).
— The Philippine Star

Japan firms poised to pull out of PH
More than a quarter of Japanese firms located in economic zones in Cebu plan to pull out their investments in the country if an opposed tax reform pushes through.
— Philippine Daily Inquirer

House approves ‘mobile number portability’ bill on final reading
The House of Representatives on Monday approved a bill seeking to allow mobile phone subscribers to keep their numbers even after switching service providers.
— ABS-CBN

Israel offering more military equipment to PH
Israel is offering more military equipment to sell to the Philippines, Defense Secretary Delfin Lorenzana said Monday.
— Philippine Canadian Inquirer

Duterte: I will take over third telco decision in November
If the Department of Information and Technology (DICT) won’t pick a third telco player soon — then he will, President Rodrigo Duterte said on Tuesday.
— CNN Philippines

 

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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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