Philippines Morning News For July 7

Philippines Morning News For July 7
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Philippines morning news

Government issues tender for 250,000 tons of imported rice
THE STATE grains buyer issued on Thursday an international tender to buy 250,000 tons of 25% broken long grain white rice, rushing to boost thinning government stockpile.
— BusinessWorld Online

Infra, capital spending surges 31.4% in May
Infrastructure and other capital spending rose sharply in May mainly on priority public works projects and the modernization of the armed forces, the Department of Budget and Management (DBM) said on Thursday.
— The Manila Times

Philippine banks in better shape 20 years after Asian crisis — S&P
RAPID CREDIT growth in the Philippines is unlikely to trigger a domestic funding crunch, as it comes alongside upbeat economic activity and as banks stand better positioned 20 years after the Asian Financial Crisis, analysts at S&P Global Ratings said.
— BusinessWorld Online

Gov’t to allot P2 B for national ID
The government is set to allot a budget of P2 billion for the roll-out in 2018 of the national identification (ID) system pending in Congress, the Department of Finance (DOF) said yesterday.
— The Philippine Star

COA: 2.65-M beneficiaries never got CCT assistance
The Commission on Audit has flagged the non-withdrawal of P1.426 billion in conditional cash transfers, which have not been touched by 2.65 million beneficiaries.
— Philippine Daily Inquirer

Philippines official proposes Muslim-only ID cards to tackle extremism
A Filipino official has called for Muslim-only ID cards to rolled out as the state continues its battle against Islamic State-linked militants in the south of the island nation.
— RT

Japan credit rater maintains Philippines’ investment grade
A JAPAN-BASED DEBT WATCHER affirmed its credit rating for the Philippines on the back of the country’s sustained growth momentum and sound fundamentals despite infrastructure deficiencies and terror threats that cloud investor sentiment.
— BusinessWorld Online

Philippines’ DOE gives go-ahead for Citicore to pursue five hydropower projects
Developer Citicore Power Inc. has received authorization from the Philippines’ Department of Energy to pursue five pumped-storage proposals within the country’s Luzon region.
— Hydro World

Philippine minister lifts restriction on environmental permits
The Philippines’ new environment minister has lifted a restriction on issuing environmental permits to projects, including mine exploration and development, reversing a previous order by his controversial predecessor dismissed in May.
— Reuters

Piñol to chair UN agri confab
Agriculture Secretary Emmanuel Piñol became the first Filipino to chair the biennial conference of the United Nations Food and Agriculture Organization (UN-FAO), considered the highest policy-making body on food security.

Record ‘shabu’ seizures noted by UN body on drugs, crime
Seizures of “shabu” or methamphetamine hydrochloride have reached record highs this year, as the market for the illegal drug continues to expand in Southeast Asia despite the drug campaigns launched by the Philippines and its neighbors, a United Nations body said on Thursday.

Charter set geographical restriction on martial law, says Sereno
Contrary to the belief of most of her colleagues on the Supreme Court, Chief Justice Maria Lourdes Sereno said the 1987 Constitution set a geographical restriction on President Duterte’s prerogative to put the country or any part of it under martial law.

Philippines: Phoenix Petroleum buys Petronas Energy, Duta for $126m
Phoenix Petroleum Philippines Inc has acquired 100 per cent shares in Petronas Energy Philippines Inc (Pepi), and Duta Inc for a total consideration of up to $126.1 million (P6.268 billion).
— Deal Street Asia

Philippines urges the crop-rich to give to the crop-poor
The Philippines has called for the establishment of a world food bank to receive agricultural products as “deposits”, which in turn would be loaned out to other needy countries.
— Food Navigator Asia

Ombudsman orders forfeiture of Purisima’s P29-M ‘ill-gotten wealth’
Ombudsman Conchita Carpio Morales has ordered the filing of a P29.3-million forfeiture case against dismissed Philippine National Police Chief Alan Purisima and his family.

PH franchise industry poised for stronger growth
The Philippine franchise industry is poised for stronger growth as the country’s strong economy opens up more opportunities for both local and foreign businesses. Jekki Pascual with the full story.

Infrastructure spending picks up amid concerns
STATE infrastructure and other capital outlays surged in May, according to the Department of Budget and Management (DBM) whose head yesterday said efforts to unclog spending bottlenecks have begun to pay off.
— BusinessWorld Online

PH needs holistic, sustainable approach to hunger – Robredo
In addressing hunger and malnutrition, the government should look beyond feeding programs and find sustainable solutions, Vice President Ma. Leonor “Leni” G. Robredo said.
— Manila Bulletin

PHL eyes ban on Brazil meat imports
THE Philippine government may ban meat imports from Brazil after salmonella was detected in some of the shipments from the Latin American country, according to an official of the Bureau of Animal Industry (BAI).
— Business Mirror

PHL, Vietnam rising as Asean’s new car hubs
TO get a taste of Southeast Asia’s burgeoning 600 million-strong consumer base and what it means for economic growth, take a look at the car industry.
— Business Mirror


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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