Philippines Morning News For August 1

Philippines Morning News For August 1
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Philippines morning newsPhilippines lags behind Asean-5 peers on WTO’s 2017 importers, exporters list
The Philippines trailed behind its Asean-5 neighbors on the list of top world exporters and importers, World Trade Organization (WTO) data showed.
— Business Mirror

Bank loans up 19% to P6.43 T in June
Bank credit grew faster at 19 percent in end-June due to higher disbursements to the real estate and manufacturing sectors, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— The Philippine Star

PH only producing 1% of local dairy demand
AN EXECUTIVE of the Mindanao Association of Dairy Industry Stakeholders (Madis) said they are targeting to increase the production of dairy products in the country in the next five years.
— Sun Star

Indonesia mulling move to send troops to besieged Philippines city
Indonesia is not dismissing the possibility of sending its troops to the besieged city of Marawi in the Philippines, a top security official has said, adding that the archipelago will continue to strengthen security cooperation with neighbouring countries.
— The Star Online

Oil firms raise pump prices today
Petroleum companies are raising pump prices for the fourth straight week today as higher demand and lower US production continue to induce price surges in the international oil market.
— The Philippine Star

Money supply expands 13.2% to P9.88 T
The Bangko Sentral ng Pilipinas (BSP) said yesterday liquidity in the financial system continued to post double-digit growth in June amid the strong demand for credit.
— The Philippine Star

Joint oil exploration with China is against Philippines’ interest, says security expert
A security expert in the Philippines contested that the government’s move to have a joint oil exploration with China is against the country’s security.
— International Business Times

PHL agri import bill up 22% in 2016–WTO
The country’s agricultural import bill in 2016 grew by nearly 22 percent to $10.15 billion, from $8.332 billion recorded in 2015, according to the latest data from the World Trade Organization (WTO).
— Business Mirror

PH shares notch 5th straight monthly gain
Philippine shares snap a four-day winning streak, slumping on the last trading day of the month dragged by foreign fund outflows.
— ABS-CBN (video)

Cirtek targets $120-million revenues for this year
CIRTEK HOLDINGS Philippines Corp. expects to book $120 million to $125 million in revenues this year, driven by the additional capacity of its Laguna plant and contributions from newly acquired tech firm Quintel.
— BusinessWorld Online

PSEi slips as stocks consolidate anew after climb
THE MARKET opened the week in negative territory as shares consolidated following last week’s strong performance.
— BusinessWorld Online

P15-B T-bill issue awarded in full
The Bureau of the Treasury (BTr) made a full award of P15 billion in Treasury bills during yesterday’s auction amid robust market demand for government securities.
— The Philippine Star

Philippines Vows to Defend Its Outsourcing Empire
The Philippines’ $23 billion outsourcing empire is facing mounting risks: China is rising quickly as a competitor, the government wants to cut some incentives and a siege in the south of the country is worrying investors.
— Bloomberg

BDO net profit flat at P13.3B in first semester
The country’s leading lender BDO Unibank chalked up P13.3 billion in net profit in the first six months, little changed from the same period last year on lower trading gains and one-off items from the acquisition and consolidation of subsidiaries.
— Philippine Daily Inquirer

19,000 rabies cases in C. Visayas
Four persons died while 19,382 others were infected with rabies in Central Visayas in the first three months of the year, according to the Department of Health (DOH).
— Manila Bulletin

1,656 families still affected by ‘Gorio’
Despite the departure of “Gorio” from Philippine territory, inclement weather conditions, further worsened by the southeast monsoon, has affected an estimated 1,656 families or 7,339 persons in the National Capital Region, Regions 1 and 3, CALABARZON and the Cordillera Autonomous Region (CAR).
— Philippine News Agency

DA to provide financing to improve productivity of Romblon rice farmers
THE Department of Agriculture (DA) said plans to help Romblon province meet at least three quarters of its rice requirement by financing measures to improve the farmers’ productivity.
— BusinessWorld Online

Open pit mining ban still in effect — Cimatu
Environment Secretary Roy Cimatu said Monday the ban on open pit mining remains in effect in the country.

Govt budget deficit set to double to P147B in July
The Philippine government’s budget programmed for July is expected to end at a deficit of P147.73 billion, swelling from June and more than doubling the year-earlier shortfall, with expenditures set to far exceed revenues, the Department of Finance (DoF) said in a report on Monday.
— The Manila Online

Parojinog daughter asks Duterte to probe Ozamiz raids
Ozamiz City Vice Mayor Nova Princess Parojinog urged President Rodrigo Duterte to investigate the series of raids carried out by the joint team of police and the Criminal Investigation and Detection Group (CIDG) agents in the family’s residences that led to the death of her parents and 13 others on Sunday.
— Davao Today

Israeli firm to bag contract for upgrade of 40 PH armored carriers – MaxDefense
sraeli Elbit Systems Land and Command, Control, Communications, Computers, and Intelligence (C4I) is expected to get a contract from the Philippine government to upgrade 40 Philippine Army M113A2 armored personnel carriers (APC) through direct negotiation, MaxDefense Philippines said today.
— Update Philippines

More executions reported in Philippines – UN experts
Reports of summary executions, including of children, are multiplying in the Philippines, 3 United Nations experts said on Monday, July 31, urging the government to investigate and curb “spiralling rights violations.”
— Rappler


Feature photo Ilocos Norte
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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