Philippines Morning News For June 19

Philippines Morning News For June 19
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Philippines morning news

Foreign debt slips to $73.8 B in March
The country’s foreign obligations decreased 4.9 percent in the first quarter as key external debt indicators remained at comfortable levels, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.
— The Philippine Star

Tax court orders P761-million refund to San Miguel Brewery
THE Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue (BIR) to issue a tax refund certificate of P761 million to San Miguel Brewery, Inc. for its San Mig Light brand.
— BusinessWorld Online

‘Fixing tax system to hike PHL revenues by P433B’
The government can collect some P433 billion in additional revenues, equivalent to 2.7 percent of GDP, by implementing reforms in the Bureau of Internal Revenue’s (BIR) tax policy and administration, according to the Department of Finance (DOF).
— Business Mirror

Gov’t shelves private bids for new airports
The government has put on hold unsolicited proposals for new airports to serve Manila as it focuses on measures that can be undertaken immediately to address congestion at the country’s main international gateway.
— The Philippine Star

PNP to deploy ‘ethical’ hackers to catch web intruders
With the website of the Philippine National Police under constant intrusion, the police information technology management service (ITMS) has decided to deploy “ethical” hackers to thwart the intruders.
— Philippine Daily Inquirer

Radicalized in Mideast, Maute brothers razed their Christian school
Twenty years after obtaining Christian education, Muslim brothers Omarkhayam and Abdullah Maute returned to this Central Mindanao city with the black flags of the Islamic State (IS) group and set fire to their alma mater.
— Philippine Daily Inquirer

$544M of hot money flows out of PH in first 5 months of 2017
In the first 5 months of the year, a net total of $543.79 million in foreign portfolio investments flowed out of the economy, according to data by the Bangko Sentral ng Pilipinas (BSP).
— Rappler


Palace says Duterte will again declare martial law if there is rebellion
President Duterte is ready to again declare martial law if “a similar incident of rebellion” like the Marawi siege occurs, Malacañang said on Sunday.

Central bank keeps forecast of slower remittance growth
THE BANGKO SENTRAL ng Pilipinas (BSP) expects remittances to grow slower this year as worker deployment could snag on policy reversals in the United States, now the biggest source of money inflows.
— BusinessWorld Online

DoF expects P433B more by fixing policy, plugging administration loopholes
PLUGGING all tax administration loopholes and improving policy could give the government up to P433 billion more in revenues, the Department of Finance (DoF) said yesterday.
— BusinessWorld Online

SC consolidates petitions for Congress to convene on ML
The Supreme Court (SC) has consolidated the two petitions that seek to compel Congress to convene jointly and act to revoke or extend President Duterte’s declaration of martial law (ML) and suspension of the writ of habeas corpus in Mindanao.
— Manila Bulletin

PHL oceans in trouble: Overfishing, pollution, climate change ail our seas
WHEN ocean explorer and filmmaker Alexandra Cousteau visited the Philippines in September last year, she told journalists the world’s oceans are in trouble. The Philippines, Cousteau said, is no exception.
— Business Mirror

Philippine troops pound Islamists as death toll passes 300
Marawi: Philippine troops pounded Islamist militants holding parts of southern Marawi city with air strikes and artillery Saturday as more soldiers were deployed and the death toll rose to more than 300 after nearly a month of fighting.
— New Straits Times

FBM KLCI seen to revisit record high
The current rally in the FBM KLCI is expected to continue as the election drumbeat gets louder coupled with the strengthening of the ringgit.
— The Edge Markets MY

Govt wants perks for makers of modern jeepneys
The Board of Investments (BOI) said it is keen on granting incentives to manufacturers of eco-friendly and modern public-utility vehicles (PUVs), such as jeepneys, under an initiative similar to the Comprehensive Automotive Resurgence Strategy (CARS) Program.
— Business Mirror

Philippines eyes truce with communist rebels amid siege
MANILA — The Philippine government said Sunday that it would suspend offensives against communist guerrillas to reciprocate a similar plan by the insurgents and allow troops to focus on quelling a bloody siege by Islamic State group-aligned militants that has dragged on for nearly a month in a southern city.
— Bangkok Post

Pira to continue pushing for lower taxes for nonlife insurers
THE Philippine Insurers and Reinsurers Association (Pira) said it will continue to push for the decrease in tax rates imposed on the nonlife insurance industry, to be on a par with its Asean counterparts and to help maintain a competitive environment.
— Business Mirror

Govt mulls eco-PUV as option for CARS 3rd spot
THE government is looking at the eco-public utility vehicle program (eco-PUV) as an option for the third slot of the Comprehensive Automotive Resurgence Strategy (CARS) Program, a trade official said.
— The Manila Times

7 US Sailors Killed In Mysterious Ship Collision
THE US navy confirmed yesterday that seven of its sailors were dead after a cargo ship hit one of its destroyers off Japan on Saturday.
— Morning Star Online

Aquino, Trillanes cleared of treason
Ombudsman Conchita Carpio-Morales has dismissed the treason and espionage complaint filed against former President Benigno Aquino III and Sen. Antonio Trillanes IV over back-channel talks with China.
— Philippine Daily Inquirer

Govt assures medical repatriation of OFWs
To further protect the rights and promote the welfare of overseas Filipino workers (OFWs), the Department of Foreign Affairs (DFA) has forged a Joint Memorandum Circular (JMC) with five other government agencies harmonizing the policies and processes involving cases of medical repatriation.
— The Manila Times


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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