Philippines morning news for March 11

Philippines morning news for March 11

Philippines morning news

Gov’t borrowings reach P947 B in 2018
The national government’s total borrowings rose to P947.55 billion in 2018 as it increased its credit from foreign lenders and other development partners, according to the Bureau of the Treasury (BTr).
— The Philippine Star

Scepticism of Duterte’s flirting with Beijing mounts
Chinese President Xi Jinping’s state visit to the Philippines in November 2018 was the first by a top Chinese leader in more than a decade, marking the culmination of an ongoing rapprochement between the two countries.
— AEC News Today

Reenacted budget seen until August — Lacson
The government may continue to operate on a reenacted budget, at least until August, and this could affect the country’s growth as it remains uncertain when the Senate and House of Representatives can transmit the P3.7-trillion General Appropriations Bill (GAB) for 2019 to President Duterte for signing into law, Sen. Panfilo Lacson said yesterday.
— The Philippine Star

Infra spending reaches P1.64 T under Duterte administration
Public spending on infrastructure amounted to P1.64 trillion in the first 10 quarters of the Duterte administration, or equivalent to four percent of the country’s gross domestic product (GDP), according to the Department of Finance (DOF).
— The Philippine Star

Andaya bares Senate’s P75 B post-bicam realignment, says P25 B parked in DPWH
The chairman of the House Committee on Appropriations on Sunday night disclosed that Senate has post-bicameral realignment amounting to P75 billion to the P3.757-trillion 2019 national budget, P25-billion of which was parked in the budget of the Department of Public Works and Highways (DPWH).
— Manila Bulletin

Economy saved P3.86 T in 2017
The domestic economy had savings of P3.862 trillion in 2017, up 11.1 percent from 2016, as all sectors were declared “savers” on profitable operations and expansion activities despite external risks, according to the Bangko Sentral ng Pilipinas (BSP).
— Manila Bulletin

Gov’t to revive push vs investment caps
THE EXECUTIVE BRANCH will pitch a fresh proposal to the next Congress to lift foreign ownership limits under the 1987 Constitution, the head of the Finance department told reporters last week.
— BusinessWorld Online

Dengue cases in Iloilo up at 669 in Jan-Feb
THE NUMBER of dengue cases in Iloilo province stood at 669 as of March 2, according to the Iloilo Provincial Health Office, much higher than the 171 reported for the full year 2018.
— BusinessWorld Online

Government to close the country’s infrastructure gap by the end of Duterte’s term
Department of Finance Carlos Dominguez III said that by the end of the Duterte administration, government spending on infrastructure is expected to be equivalent to 7% of Gross Domestic Product (GDP).
— Eagle News

BSP eases banks’ liquidity compliance
The Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), has extended up to January next year the observation period for subsidiary banks’ compliance with Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) to allow more time to adjust to the new metrics.
— Manila Bulletin

SBMA investments hit record-breaking P29.6-B in 2018
The Subic Bay Metropolitan Authority (SBMA) registered a seven-year high investment figure in 2018, as more investors expanded operations or set up their businesses in Subic amid strong confidence.
— Philippine News Agency

Govt committed to raise FDI, infra spending – DoF
The Department of Finance (DoF) said it remains committed to the major economic policies of the Duterte administration, particularly on increasing foreign direct investments (FDI) and government spending.
— The Manila Times

Rate cuts to start May – Standard Chartered
Monetary authorities will likely move to relax policy beginning May via interest rate cuts that will total 100 basis points this year, a banking giant said.
— The Manila Times

P55.3M worth of Davao-Region crops destroyed by El Niño
About P55.3 million worth of crops in Davao Region were reported to have been destroyed due to the dry spell brought about by the current El Niño.
— BusinessWorld Online

Philippines losing more mining investments due to policy stalemate
The Philippines is losing billions of dollars in potential mining investments because of policy stalemate hounding the industry, an independent think tank said.
— The Philippine Star

Israeli energy firm eyes Palawan exploration
ISRAELI firm Ratio Petroleum Ltd. wants to partner with Philippine National Oil Company-Explo-ration Corp. (PNOC-EC) to jointly explore possible petroleum reserves in the east Palawan basin.
— Business Mirror

Philippines set to be world’s 2nd largest rice importer
The Philippines is once again setting record levels in terms of buying rice in the world market as it is expected to be the second-largest global importer this year at 2.6 million metric tons (MMT) of rice.
— The Philippine Star

US targets more agri exports to PHL
The United States is keen on expanding its farm exports to the Philippines once nontariff barriers—as committed by the government—are removed this year.
— Buisness Mirror

P79 billion in 2019 budget manipulated — Sotto
At least P79 billion worth of projects in the Congress-ratified 2019 national budget have been manipulated by some members of the House of Representatives, Senate President Vicente Sotto III said yesterday.
— The Philippine Star

Duterte opposes medical marijuana legalization
In yet another about face, President Duterte on Friday said he would not legalize marijuana in the country as it can be used for purposes other than the treatment of ailments.
— The Philippine Star

PH oil import bill soars 32%
The country’s oil import bill has risen by a substantial 31.8 percent to $13.477 billion in 2018 from the 2017 level of $10.228 billion on the exponential rise in world oil prices for nine months last year.
— Manila Bulletin

PH among ‘most dangerous’ places for women
The Philippines was among the three “most dangerous” places for women among 14 Asia-Pacific countries covered by a report of research firm ValueChampion that measured women’s safety, healthcare and access to education and employment opportunities.
— Philippine Daily Inquirer

Gov’t readies phase 2 of railway project
Following the groundbreaking for the 38-km. Tutuban- Ma lolos s egment of the Nor th-South Commuter Railway (NSCR) project last February 15, the pre-bid conference on the first three civil works contract packages of the NSCR’s 53-km. Malolos-Clark segmentwas held last March 7 at the Asian Development Bank (ADB) headquarters in Pasig City.
— Malaya

Peso feared to close 53.50 at yearend
The peso faces the possibility of closing at 53.50 to the dollar by the end of the year, according to Justin Valle, research associate at the Ateneo Center for Economic Research and Development.
— Malaya

Duterte’s new stand on medical marijuana draws mixed reactions
Senate President Vicente Sotto III on Sunday said he is happy that President Rodrigo Duterte backtracked on his stand on the legalization of marijuana.
— Manilastandard.net

Filipino doctors unite to help restore public trust in vaccination
The need to protect children amidst the measles outbreak in several regions of the country has galvanized the commitment of Filipino physicians to restore public trust and confidence in vaccination and increase the country’s immunization coverage.
— BusinessWorld Online

Over 800K violators of MM ordinances nabbed since June 2018
Over 800,000 individuals have been arrested since June last year in Metro Manila for violating various ordinances, according to National Capital Region Police Office (NCRPO) report released on Sunday.
— Philippine News Agency

Former Baguio mayor, 16 execs liable for P63M in illegal perks – COA
The Commission on Audit (COA) affirmed its decision to hold former Baguio City mayor Reinaldo Bautista and 16 other former and current officials liable for granting P63.72 million in unauthorized allowances to city officials and employees in 2008 and 2009.
— Rappler

SMC spends ₱5.6 billion to help address social, environmental woes
San Miguel Corporation (SMC) has spent over ₱5.6 billion for social and environmental initiatives across its businesses, the firm said in a statement Sunday.
— CNN Philippines

Philippines has massive plastic waste woes
An audit in the Philippines has shown the country uses a “shocking” amount of single-use plastic, including nearly 60 billion sachets a year, a new report said Friday.
— The Asean Post

PAL extends 78th anniversary seat sale, offers 1 million more seats
Due to insistent public demand, Philippine flag carrier Philippine Airlines is extending its 78th anniversary seat sale for seven (7) more days – March 11 to 17, with an additional one million seats up for grabs.
— ABS-CBN

600-MW thermal power plant to rise in Bataan
Hanjo Group Manufacturing Inc., a Korean firm on Thursday entered into a memorandum of understanding with the provincial government to build a $1billion 600-megawatt thermal power plant in Bataan.
— Manilastandard.net

Andaya to senators: Just tell Duterte what provisions to veto in proposed nat’l budget for 2019
The senators can tell President Rodrigo Duterte what provisions he should veto in the proposed national budget if they really feel that what was ratified was “constitutionally-infirm and legally-flawed.”
— Eagle News

Information drive on vaccination needed, 3 Senate bets say
Three senatorial candidates said that the government must launch an intensified information drive promoting vaccination amid a spike in measles cases in the country.
— CNN Philippines

Senate to look into planned deregulation of sugar imports
The Senate may call in economic managers to question the proposal to liberalize sugar imports, Senate Majority Leader Juan Miguel Zubiri said on Saturday, March 9.
— Rappler

Standard Chartered sees 100bp rate cut this year
THERE IS ROOM for the central bank to cut interest rates by as much as 100 basis points (bp) this year, an analyst at a global bank said, noting that inflation could slow to below two percent in the third quarter.
— BusinessWorld Online

Fourth industrial revolution topbills NRCP confab
At least 1,000 members of the National Research Council of the Philippines (NRCP) are expected to attend its annual scientific conference and general membership assembly on Monday at the Philippine International Convention Center (PICC) in Pasay City.
— Philippine News Agency

BFP: 332 towns, cities without fire trucks
A total of 332 cities and municipalities in the country don’t have fire trucks, the Bureau of Fire Protection (BFP) said yesterday.
— The Philippine Star

Suspects in 2 Mindanao journo killings identified, charged — PTFoMS
The Presidential Task Force on Media Security (PTFoMS) on Sunday claimed that there were significant developments on two cases of media killings: one in Davao del Norte in 2018, and the other in Surigao del Sur in 2017.
— GMA News

President Duterte hastens distribution of gov’t lands to agrarian reform beneficiaries
President Rodrigo Roa Duterte on Friday, March 8, mandated the Department of Agrarian Reform (DAR) to distribute government-owned lands, including the ones in the mountain areas to Agrarian Reform Beneficiaries (ARBs).
— Philippine Information Agency

List of areas affected by Manila Water service interruption
Manila Water on Sunday released an updated list of areas which will have little to no water supply in the coming days.
— Philippine News Agency

Women rights defenders suffer Duterte admin abuses –TFDP
As it observes the International Women’s Month, the Task Force Detainees of the Philippines (TFDP) on Saturday blasted the Rodrigo Duterte administration for attacks on women rights defenders
— GMA News

Senate leadership open to bill institutionalizing infrastructure drive
SENATORS are open to a law that institutionalizes the government’s intensified infrastructure development program to ensure continuity of flagship projects after President Rodrigo R. Duterte’s term ends in mid-2022.
— BusinessWorld Online

Reds also source funds from Fil-Ams in US, Canada: ex-rebels
As a group of ex-rebels welcomed the move of European leaders to look into the information presented by the Philippine government on the reported funding of EU-member countries for activities of the Communist Party of the Philippines (CPP), it said the communist group also receive funds from Filipino-American communities in the US and Canada.
— Philippine News Agency

Andaya says Senate ‘desperately looking for ghosts’ in 2019 budget
The upper house is desperately looking for ghosts in the 2019 budget, House of Representatives Appropriations Chair Rolando Andaya Jr. said Sunday.
— GMA News

DOH Calabarzon intensifies anti-measles campaign thru NDP
Department of Health (DOH) 4-A (Calabarzon) has intensified its anti-measles mass immunization campaign in the region through the Nurse Deployment Program (NDP).
— Philippine News Agency

LandBank Head Office is first in the country to earn LEED v4 Gold Rating
The LandBank Plaza in Malate, Manila was recently conferred with the Leadership in Energy and Environmental Design (LEED) v4 Gold Certification.
— The Manila Times

Public warned vs heat stroke
Avoid coffee and tea for now to avoid heat stroke, the Department of Health (DOH) advised the public yesterday.
— The Philippine Star

11 Tesda officials face raps for alleged bid rigging
The Technical Education and Skills Development Authority (TESDA) is pursuing a case against 11 officials accused of rigging the bidding for the purchase of P1.4 billion worth of special tool kits to favor a contractor.
— The Philippine Star

Voyager turnaround expected by 2021
PLDT, Inc. said it may have to wait until next year or 2021 to see a turnaround in Voyager Innovations, Inc., after the digital innovations unit welcomed new foreign investors last year.
— BusinessWorld Online

‘Wiretapping needed vs crime, terrorism’
Stronger provisions for wiretapping are among the proposed amendments to the narcotics law, according to Dangerous Drugs Board (DDB) chairman Catalino Cuy.
— The Philippine Star

Roxas would do anything for the people, even direct traffic – Erice
Senate candidate Mar Roxas’ campaign manager, Caloocan City Rep. Edgar Erice, said that Roxas would do anything to serve the country and its citizens, even direct traffic when no one is there to do so.
— GMA News

A lawyer to the Poor
“Avoid corruption and help the poor who need legal services,” is a life principle of Nelson B. Borja, a senior trial lawyer specializing in criminal cases, who distinguishes himself by providing free legal service to the poor.
— Philippine News Agency

 

Feature photo Brian Evans

 

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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