Philippines morning news for January 2

Philippines morning news for January 2

Philippines morning newsAdditional fuel excise tax now in effect
Filipinos will pay more for fuel at the beginning of 2019 because of an additional excise tax provided by law.
— CNN Philippines

PH economic team carve out medium-term debt management strategy to handle foreign loans
The Philippine economic team has carved out a medium-term debt management strategy to handle foreign loans that the Philippine government will enter into, particularly China.
— Manila Bulletin

Usman’s toll mounts: 75 dead, 16 missing
THE DEATH toll due to flash floods and landslides brought by Tropical Depression “Usman” rose further to 75, while 16 other people remained missing, the National Disaster Risk Reduction and Management Council (NDRRMC) reported on Monday.
— The Manila Times

BSP reports property prices up 4.4% in Q3 2018
The central bank said residential property prices went up by 4.4 percent year-on-year in the third quarter of 2018 with townhouses leading the increase.
— Manila Bulletin

Gov’t asked to spare all medicines from 12% VAT
The Duterte administration should spare all kinds of medicines from the 12-percent value-added tax (VAT) to help poor Filipinos in their medical needs, Ilocos Norte Gov. Imee Marcos on Tuesday said.
— Philippine Daily Inquirer

Agriculture needs P44 billion to sustain solar-powered irrigation
The Department of Agriculture (DA) needs at least P44 billion over the last three remaining years of the administration for the construction of solar-powered irrigation systems (SPIS) nationwide to help ensure sufficient rice supply and increase productivity in the country.
— The Philippine Star

BSP trims term deposit auction volume to P30B
THE CENTRAL BANK has slashed the amount of term deposits it will auction off this week to the lowest level in over two years due to weaker demand from banks just before the holiday season wraps up.
— BusinessWorld Online

Oil price hikes, rollbacks leave consumers reeling
FILIPINOS got what would turn out to be the first in a series of oil-related jolts in 2018 when the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) took effect at the beginning of the year.
— The Manila Times

QC grants amnesty for property taxes
Quezon City Mayor Herbert Bautista has announced the grant of amnesty to real property owners from payment of interests, fines, surcharges and other penalties for delinquent real property taxes for taxable year 2018 and prior years.
— Manilastandard.net

Labor chief says approved pay hike ‘too low’ for workers to cope
Labor Secretary Silvestre Bello III said the approved minimum wage increases throughout the country were short of at least P100 for workers to be able to cope with the rising cost of basic commodities.
— Philippine Daily Inquirer

House panel to review TRAIN implementation on Jan. 14
THE House Committee on the Comprehensive Tax Reform Program will convene to review the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law when Congress resumes session on Jan. 14, Rep. Estrellita B. Suansing said.
— BusinessWorld Online

Gov’t to impose stringent cybersecurity conditions on 3rd telco player
Acting Secretary Eliseo Rio Jr. of the Department of Information and Communications Technology (DICT) said the country’s new major telco player—a venture backed by state-owned China Telecom—would be subjected to more stringent cybersecurity requirements to protect against possible threats to national security.
— Philippine Daily Inquirer

Group blasts Arroyo for 12 ‘dangerous’ provisions in House draft federal charter
A multi-sectoral group on Tuesday warned the public of 12 “dangerous, anti-Filipino, anti-youth, anti-NGO, and anti-democracy provisions” under the House draft federal charter principally authored by Speaker Gloria Macapagal-Arroyo.
— Inquirer.net

BIR assures 90-day process for claims on VAT refunds
The Bureau of Internal Revenue (BIR) has amended its rules to strictly implement the 90-day processing rule for value-added tax (VAT) refunds now that an enhanced refund system has been put in place.
— The Philippine Star

Aussies top target of Philippines-based investment scams
Australians have become the “No 1 target” of investment scams run by a web of foreign nationals operating from The Philippines, a private investigator has warned.
— The Australian

Agri-agra loans up, but still below threshold
LOANS that banks made available to the agriculture and agrarian reform sector rose by 22.8 percent in the first nine months of 2018, but fell short of the mandated threshold, according to the Bangko Sentral ng Pilipinas (BSP).
— The Manila Times

Philippines, Indonesia reel from flash floods, landslides
Landslides and flash floods triggered by heavy rain have killed dozens of people in the Philippines and western Indonesia, with rescuers searching for dozens more who were missing yesterday.
— The Straits Times

Senate to probe P20-B deal on use of Chinese CCTVs
SENATE President Vicente C. Sotto III confirmed on Tuesday an upcoming inquiry by senators into the government’s P20-billion deal with a China-based telecommunications company to install closed-circuit television (CCTV) security cameras in Metro Manila and Davao City’s public areas.
— Business Mirror

PH bans pork from 8 countries due to swine fever
The Philippines has banned the entry of pork and pork-based products from 8 countries to prevent the spread of African swine fever in piggeries in the country, Agriculture Secretary Emmanuel Piñol announced.
— Rappler

Banks tap debt market to raise P340 billion in 2018
Philippine banks raised P340 billion via the issuance of debt securities in the onshore and offshore markets last year to augment their loan books and at the same time support their respective expansion programs.
— The Philippine Star

Rebuilding PH industries is DTI top priority in 2019
The Philippines used to have the 10 basic industries that the then strongman Ferdinand Marcos initiated on hopes the private sector could latch on, build on and become the backbone of the country’s development.
— Manila Bulletin

Malacañang: Don’t spread unnecessary fear over Cotabato blast
Malacañang advised people not to speculate on the Cotabato bombing so as not to “sow unnecessary fear and panic.”
— CNN Philippines

‘Backward’ economy failed to create jobs for new labor entrants–IBON
The slower expansion of the country’s economy in the last three years has resulted in the lack of enough decent jobs for new labor entrants, according to research group IBON Foundation Inc.
— Business Mirror

PAL to launch flights to Israel in 1st quarter
Flag carrier Philippine Airlines (PAL) may launch flights to Israel within the year, helping to bolster tourism and trade while providing an easier means for Filipinos to achieve their Holy Land “bucket lists”.
— Philippine Daily Inquirer

Trade dept launches new fabrication lab
The Department of Trade and Industry (DTI) Region 6 established the first fabrication laboratory (fablab) at the Iloilo Science and Technology University (ISAT-U).
— The Manila Times

PRRD orders probe into Glenn Chong’s aide slay
President Rodrigo R. Duterte has ordered a probe on the killing of Richard Red Santillan, security aide of former Biliran Representative Glenn Chong.
— Philippine News Agency

Philippine Navy expands presence with missile, blue-water capability
THE year 2018 may be considered a banner year for the Armed Forces of the Philippines (AFP), especially the Philippine Navy (PN), as it formally entered the missile age and demonstrated its capability to sail beyond its territorial waters during deployments to the United States, South Korea and Russia.
— Business Mirror

House creates TWG to help IPO determine copyright infringement
The House Committee on Information and Communications Technology and the House Committee on Trade and Industry has jointly created a technical working group (TWG) to fine tune a proposal enabling the Intellectual Property Office (IPO) to cancel licenses of Internet service providers that allow web sites to infringe or to facilitate infringement of copyright.
— Business Mirror

 

Feature photo Presidential Communications Operations Office

This week’s morning news photo focuses on the death, pain, and loss that typically occurs at this time of year on Asean roads due to drunk driving, speeding, and a failure to wear protective helmets when travelling on motorbikes.

 

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. Since 2010 she has worked as a freelance screen writer for ‘Nollywood’, Nigeria.

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