Philippines Morning News For January 9, 2019

Investors swamp Philippine’s $1.5-B global bond sale
The Philippines raised $1.5 billion in new money from the sale of 10-year dollar-denominated global bonds, marking the country’s successful return to the international debt market this year, the Bureau of the Treasury (BTr) reported yesterday.
— The Philippine Star

End-december 2018 GIR level rises to USD78.46-B
Preliminary data showed that the country’s gross international reserves (GIR) rose to USD78.46 billion as of end-December 2018, Bangko Sentral ng Pilipinas (BSP) Officer-in-Charge Diwa C. Guinigundo announced in a statement on Monday.
— Philippine News Agency

Philippine 2018 GDP growth still among world’s fastest: Diokno
The Philippine economy likely grew 6.5 to 6.7 percent in 2018, maintaining one of the world’s fastest growth rates, Budget Secretary Benjamin Diokno said Tuesday.
— ABS-CBN News (video)

Bank lending slows down; M3 up at P11.3 T in November
Big banks’ outstanding loans increased by 16.8 percent year-on-year in November 2018, a slower growth compared to the previous month’s 18.1 percent, according to the Bangko Sentral ng Pilipinas (BSP).
— Manila Bulletin

Palace approves urgent certification for P60 tobacco tax
MALACAÑANG on Tuesday said President Rodrigo R. Duterte approved a proposal of the Department of Health (DoH) and the Department of Finance (DoF) to impose a P60 tax per pack of tobacco and P40 per liter of alcohol.
— BusinessWorld Online

LGUs 2019 IRA amounts to P575B
Local government units (LGUs) will receive a total of P575.52 billion in internal revenue allotment (IRA) this year, according to the Department of Budget and Management (DBM).
— Malaya

Philippines needs nearly 900 mln USD fund to clean up Manila Bay
Philippine President Rodrigo Duterte is trying to get around 876 million U.S. dollars to fund the massive cleanup and rehabilitation of Manila Bay and restore it to its former glory.
— Xinhua

Road User’s tax fund to be used for Manila Bay clean-up
Part of the funds from the Road User’s Tax will be used to rehabilitate the Manila Bay, among other projects, Malacañang said Tuesday.
— Philippine News Agency

Petrochemical producers oppose zero MFN tariffs
Local petrochemical producers have opposed moves by finished plastic products manufacturers to further extract the tariff lines and impose a zero duty from 10 percent on their raw material input stressing this will open avenues for technical smuggling to the detriment of the developing domestic petrochemical industry and government revenues.
— Manila Bulletin

Fitch Solutions eyes PH budget deficit at 2.9% of GDP
Economic think-tank Fitch Solutions said the Philippine government’s 2019 budget deficit is likely to remain at 2.9 percent of gross domestic product (GDP), within the Duterte administration’s 3.2 percent deficit to GDP ratio target.
— Philippine News Agency

Philippines lags behind SE Asia neighbors in auto sales, production
OF the eight members of the Association of Southeast Asian Nations (ASEAN) that submit data to the region’s vehicle industry group, three have recorded less deliveries in the first nine months of 2018 when compared to the same period of the previous year.
— BusinessWorld Online

DPWH completes P46.5-M wall along Tullahan River
Residents living near the Tullahan River in SSS Village, Barangay North Fairview, Quezon City are safe from flooding with the recent completion of the multi-million worth of river wall.
— Philippine News Agency

Tourist arrivals for Sinulog to jump by 4 percent: airport exec
Tourist arrivals for the Sinulog Festival are projected to increase by four percent this year, said a Mactan-Cebu International Airport (MCIA) official in a press conference Tuesday here.
— Philippine News Agency

Duterte agrees to certify bill on higher cigarette, alcohol tax as urgent
President Rodrigo Duterte agreed to certify as urgent the bill of Senator Manny Pacquiao increasing tobacco tax to P60 per pack, from the current P30.
— Rappler

1M kilos Belgian pork entered PH despite import ban says agri group
Agricultural group, Samahang Industriya Ng Agrikultura (Sinag) revealed on Monday the entry of over 1 million kilos of Belgian pork into the country from October to November 2018.
— UNTV

Rody to certify ‘sin tax’ hike bill priority measure
President Rodrigo Duterte has agreed to certify a bill raising the excise tax on tobacco and alcohol products as urgent, the Palace said Tuesday.
— Manilastandard.net

‘Blanket ban on pork imports may open PHL to sanctions’3 min read
THE government said on Tuesday that it cannot ban pork from “high-risk” countries, or those near countries struck by African swine fever (ASF), as this may trigger the filing of cases against the Philippines at the World Trade Organization (WTO).
— Business Mirror

Declare ‘revolutionary govt,’ Duterte urged
An influential Muslim politician has urged President Rodrigo Duterte to make good on his threat to establish a “revolutionary government,” so he could quickly reconfigure the country’s regions and shift to a federal form of government.
— The Manila Times

Globe deploys cell sites in two Cebu villages
Globe Telecom has set up cell sites in two villages in Cebu City as part of ongoing efforts to expand its reach.
— The Manila Times

P10M raised for arrest of gunmen in La Union exec’s murder
The family of slain Balaoan Vice Mayor Al-Fred Concepcion has raised to P10 million the reward for the arrest of his killers.
— Philippine Daily Inquirer

Philippines: Duterte wants state auditors ‘kidnapped, tortured’
Philippine President Rodrigo Duterte has advocated the kidnapping and torture of government auditors for hampering the work of his administration.
— Aljazeera

Philippine domestic bioethanol price in Dec jumps 25.4% on year on higher feedstock costs
The Philippine domestic bioethanol reference price climbed 2.11% on a monthly basis or 25.47% on a year on year basis to Pesos 55.07/liter ($1,101.40/cu m) in December, data released Tuesday by the Sugar Regulatory Administration showed.
— S&P Global Platts

BOC to install 50 more X-ray units this year
The Bureau of Customs (BOC) is set to install 50 new X-ray machines in various airports and seaports nationwide this year.
— Philippine News Agency

Okada, facing arrest, says accusers destroying his reputation
Japanese gaming tycoon Kazuo Okada, who is facing arrest over a $3.1-million fraud case, said Tuesday the charge was meant to destroy his reputation.
— ABS-CBN News

Duterte threatens to shut down hotels along coastal area for environmental violations
As part of the government-led cleanup of Manila Bay, President Duterte has called on hotels along the coastal area to establish proper wastewater treatment systems or else risk closure.
— Manila Bulletin

Federal Reserve may get less bang for buck if it repeats 2016 rate pause
FOR THE Federal Reserve, 2019 has started out looking a lot like 2016: the last time uncertainty over global growth roiled financial markets for months on end.
— BusinessWorld Online

LTFRB panel denies Go-Jek entry into Philippine market
The Land Transportation Franchising and Regulatory Board (LTFRB) has denied the application of Indonesian ride-hailing firm Go-Jek that would have allowed it to enter the Philippine market, sources confirmed.
— Rappler

Second intervention in support of BOL filed with SC
wo Muslim lawyers and a Moro civilian leader have asked the Supreme Court to dismiss the petition filed by the Province of Sulu questioning the constitutionality of Republic Act No. 11054 or the Bangsamoro Organic Law (BOL).
— ABS-CBN News

SC sets oral arguments for third martial law extension in Mindanao
The Supreme Court has scheduled oral arguments for the third extension of martial law in Mindanao on January 22 and 23.
— CNN Philippines

Philippines seeks balance trade with Indonesia
The Philippines may impose stricter trade measures against Indonesia after the ASEAN neighboring country decided not to ease up on its protocols and open their market access.
— The Philippine Star

Save the Children PH pushes vaccination vs measles to prevent rising deaths of children
ave the Children Philippines called on parents and health workers to intensify measles vaccination due to the steady rise of deaths among children caused by complications from the preventable disease.
— Philippine Information Agency

QRCS enhances education and sanitation services in Philippines
Qatar Red Crescent Society (QRCS) has conducted a series of first aid, risk reduction, and psychological support courses for 2,500 students of eight primary schools in Mindanao, the southern Philippines.
— The Peninsula Qatar

Dennis Uy’s firm gives P40-million downpayment for PXP Energy shares
THE holding company of Davao City businessman Dennis A. Uy has paid the 1% downpayment for its subscription to common shares in PXP Energy Corp., the listed oil and gas exploration company told the stock exchange on Tuesday.
— BusinessWorld Online

Stricter screening at NAIA vs swine fever
Travelers coming from countries affected by African swine fever will undergo tighter scrutiny upon arriving at the Ninoy Aquino International Airport (NAIA), the Bureau of Customs said yesterday.
— The Philippine Star

DA tells chicken growers to raise farmgate prices to avoid losses
AGRICULTURE Secretary Emmanuel F. Piñol said poultry growers should increase farmgate prices of chicken by P10 weekly from the current P38 per kilo to prevent them from exiting the industry.
— BusinessWorld Online

Feature photo Michael Landicho

This week’s Philippines morning news feature photo depicts the effects of tropical storm Usman in the regions of Bicol and Eastern Visayas.

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.

Philippines morning news for January 9 added by Stella-maris Ewudolu on January 9, 2019
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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.