Philippines morning news for September 4

Philippines morning news for September 4

Philippines morning newsSouth Korea provides P8.95-B ODA loan to build long-delayed Jalaur irrigation project in Iloilo
NIA–DAEWOO SIGN P11.212-BILLION CONTRACT FOR JALAUR RIVER MULTIPURPOSE PROJECT – The Jalaur River Multipurpose Project (JRMP) will be started earlier than expected with the signing of the contract between the National Irrigation Administration (NIA) and Daewoo Engineering and Construction Co., Ltd. on September 3, 2018 at the Administrator’s Conference Room, 2nd Floor, NIA Central Office, Diliman, Quezon City.
— Manila Bulletin

Philippines PMI growth regains pace in August
Business conditions in the Philippines manufacturing sector improved further midway through the third quarter.
— Nikkei Asian Review

3 deals inked between PH, Israel
THE Philippines and Israel have signed at least three agreements during President Rodrigo Duterte’s historic visit to the Jewish state.
— Sun Star

Investment pledges in January-July down 26.7%
INVESTMENT pledges in the first seven months of the year declined by 26.7 percent, as commitments to both the Board of Investments (BOI) and the Philippine Economic Zone Authority (Peza) were down by double digits.
— Business Mirror

SSS allocates P10-B as initial fund for pensioners’ loan
The Social Security System (SSS) has allocated PHP10 billion as initial budget for its Pension Loan Program (PLP), which can be availed of by about 1.5 million retirees, initially at 20 branches nationwide starting September 3, 2018.
— Philippine News Agency

Solar deals could mark renewables shift in Philippines
Eight solar projects worth a total of $1.65bn have been given the go-ahead in The Philippines.
— Power Engineering International

Gov’t likely to miss economic growth target in 2018 — Dominguez
The Philippine economy would grow faster this year, but would miss the government’s target, Finance Secretary Carlos Dominguez III said.
— The Philippine Star

Passengers, airlines to lose P15-B a year due to flight delays in PH
San Miguel Holdings Corp. said the combined passenger productivity losses and annual losses for airlines could rise to as much as P15 billion a year from 2020 if the government will fail to approve new airport projects.
— Manila Bulletin

Arroyo gives House employees P35,000 special cash bonus
Christmas came early for some 3,000 employees of the House of Representatives.
— Philippine Daily Inquirer

PH senators return to SC to fight for ICC membership
It will be a throwback of sorts on Tuesday, September 4, when senators present before the Supreme Court their case for Philippine membership in the International Criminal Court (ICC).
— Rappler

BDO sets up P100-B peso bond program
BDO UNIBANK, Inc. has established a peso-denominated bond program of up to P100 billion to raise fresh funds.
— BusinessWorld Online

PPA registers P5.31-B net income in 7 months
The Philippine Ports Authority (PPA) posted a net income of P5.316 billion for the first seven months of 2018, a decline of 4.78 percent from P5.583 billion posted during the same period last year.
— The Manila Times

Pork imports from swine fever countries banned
THE Department of Agriculture (DA) said it has banned imports of domestic and wild pig products, including semen, from China, Latvia, Poland, Romania, Russia, and Ukraine due to an African Swine Fever (ASF) outbreak.
— BusinessWorld Online

Philippines: Dolefil to regularize 4,765 contractual workers
Fruit giant Dole Philippine Inc. (Dolefil) has committed to regularize some 4,765 contractual workers in support to the national government’s efforts to eliminate labour-only contracting practices.
— Fresh Plaza

Duterte’s enduring popularity is not just a political choice — it is also religious
Duterte is a moral crusader. In the eyes of his followers, the President is driven by his deep love for the country.
— New Mandala

Piñol: Report rice hoarders, get P250,000
Citizens who have vital information on rice hoarders can get as much as P250,000 if they report incidents to the Department of Agriculture (DA).
— Rappler

Duterte orders raid of rice hoarders’ warehouses: Palace
President Rodrigo Duterte has ordered the Philippine National Police (PNP) to open the warehouses of the suspected rice hoarders, Malacañang said on Monday.
— Philippine News Agency

DA chief sees 3.12% palay-output decline if farmers won’t be able to replant by September
The country’s palay output this year could fall by 3.12 percent to 18.68 million metric tons (MMT) if typhoon-hit farmers in Central Luzon will not be able to replant by mid-September, according to Agriculture Secretary Emmanuel F. Piñol.
— Business Mirror

FOBAP reports rising garment exports to China
Local garments exporters expect orders from Chinese buyers reaching as much as $250 million that will generate up to 3,000 jobs this year, as China turns to the Philippines due to its competitive labor rates and initiatives to facilitate exports.
— Manila Bulletin

Russia offers joint project for AK rifles factory in Philippines
As bilateral ties become warmer, Russia believes it is time for the Philippines to “diversify” defense and other forms of cooperation with other countries, without damaging its traditional alliances.
— The Philippine Star

NFA supplies 80% of Zamboanga rice requirements
The rice crisis in Zamboanga has been resolved through quick response from the National Food Authority (NFA), which beefed up its food security stocks at the onset of the sudden increase in commercial rice prices, by bringing in supplies from other regions to increase its market injection from 2,000 to 4,000 bags a day or about 80 percent of the region’s 5,340 bags daily rice requirement.
— Philippine News Agency

Israeli newspaper calls Duterte an ‘unwanted guest’
President Rodrigo Duterte’s visit to Israel may be a historic first for the country, but an Israeli newspaper branded him as an “unwanted guest” and his visit “a shameful diplomatic stain.”
— Philippines Magazine

‘NFA diverted rice-buy fund to pay its debt’
The National Food Authority is mired in debt and had to use the funds set aside for the purchase of palay last year and the first half of 2018 to pay some of its maturing obligations, Administrator Jason Aquino told congressmen Monday.
— Manilastandard.net

‘High rice prices in PHL have no basis, international rates are low’
HIGH rice prices may have no basis at this time, given the low price of rice in the international market, according to a former agriculture secretary.
— Business Mirror

Philippines seek greater banana market access to South Korea
The Philippines is considering a preferential trade agreement with South Korea to ease access for its banana exports.
— Fresh Plaza

Benguet under state of calamity as rains destroy crops
This province, the country’s top vegetable producer, has been placed under a state of calamity to help access funds for repairing roads and farms after weeks of monsoon rains in July and August.
— Philippine Daily Inquirer

PHL, Indonesia to reestablish flights between Davao and Manado
THE Philippines and Indonesia have committed to promote the reestablishment of flights between Davao to Manado to mutually boost trade, tourism and investments between the two Asean nations.
— Business Mirror

Big-time oil price hike today
Oil firms will impose hefty price increases on their fuel products effective today, with diesel rising by P1.20 per liter and gasoline by P0.95.
— Manila Bulletin

PH can afford cost of federal shift: Concom spokesman
Reorganizing the government and adopting a federal system will cost around P13.5 billion, President Rodrigo Duterte’s drafting committee said Monday, insisting figures floated by his economic managers did not accurately reflect provisions of its proposed constitution.
— ABS-CBN

T-bill rates up across the board
Treasury bill (T-bill) rates rose across the board amid healthy demand from investors, according to the Bureau of the Treasury (BTr).
— The Philippine Star

 

Feature photo Benson Kua

 

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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