Philippines Morning News For August 21

Philippines Morning News For August 21
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Philippines morning newsMonetary stance to remain flexible amid low inflation, ample liquidity
Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. said monetary policy stance remains flexible and will adjust when necessary, enhanced by an arsenal of policy tool kits.
— Manila Bulletin

ADB has $3.8-B in loans, $21.8-M in non-lending programs for PH infra, social services projects
The Philippines can tap about $3.8 billion in loans and another $21.8 million in the form of non-lending programs from the Asian Development Bank (ADB) to help fund its accelerated spending programs on infrastructure and social services on the Duterte watch, according to the Department of Finance (DOF).
— Philippine Information Agency

Among Asian currencies, Philippine peso is unloved
Asian emerging-market curren-cies have been having their best year since before the 2013 taper tantrum, bolstered by pace-setting growth rates and attractive yields.
— Business Mirror

Manila seeks $771.3-M fresh ADB financing
The Philippines has proposed some $771.3 million worth of projects for Asian Development Bank (ADB) financing as of the first semester of 2017.
— Business Mirror

US cites PHL for upholding religious freedom, but flags Duterte on church, Hitler comments
THE LEGAL framework of the Philippines, a predominantly Catholic nation, has been considered among those that upheld principles of religious freedom in 2016, the US State Department said in an annual report.
— BusinessWorld Online

P900-billion of goods smuggled in 2011-15 – study
SMUGGLED GOODS worth as much as P900 billion entered the Philippines in a span of five years, a study by the University of Asia and the Pacific (UA&P) revealed.
— BusinessWorld Online

Malaysia holds off Filipino’s execution, says Manila
Malaysia has granted a last-minute stay of execution to a convicted Filipino murderer following an appeal by Manila, Philippine officials said Saturday.
— The Star Online

Philippine churches to ring bells to protest drug killings
A leader of the dominant Roman Catholic Church in the Philippines has ordered bells to be tolled every night for three months in a northern region to raise alarm over a renewed police crackdown that has left more than 80 drug and crime suspects dead in just a week.
— Bangkok Post

PCA to get P1.4-B allocation for 2018
The Philippine Coconut Authority (PCA) will get a P1.4-billion allocation for 2018, the same budget level this year, the bulk of which will be used on the increased planting of coconut trees nationwide.
— The Philippine Star

Various groups set to stage rallies against drug war killings
Various groups are set to stage protests this week to express outrage in the recent spate killings under the administration’s war on drugs.

P18-M loan fund opened to Cebu vegetable farmers
THE DEPARTMENT of Agriculture (DA) will provide an P18-million loan to vegetable farmers in Cebu province, which will not require a collateral and with a 6% annual interest. The loan will be made available to farmers’ cooperatives or a rural bank that will manage the credit, according Agriculture Secretary Emmanuel F. Piñol.
— BusinessWorld Online

Bill seeks to make Pagcor purely regulatory, grant Congress licensing powers
Party-list group One Patriotic Coalition of Marginalized Nationals (1-Pacman) has gotten the ball rolling on a priority measure to make the Philippine Amusements and Gaming Corp. (Pagcor) “purely regulatory” – and transfer licensing powers in the hands of Congress.
— Philippine Daily Inquirer

P50-M fund eyed to revive trade in Marawi
The government will allocate P50 million to help Marawi City traders revive their businesses and livelihoods.
— The Philippine Star

Initial 10 companies keen to build P12.55-B Clark airport
TEN LOCAL and foreign entities have expressed interest in the new P12.55-billion Clark International Airport Terminal.
— BusinessWorld Online

Firm grants P1.4-M worth of health insurance to indigents
Philex Mining Corp. granted P1.48 million worth of health insurance to 620 individuals, together with their families this year, bringing to P3.4 million the total amount of coverage given to the indigent residents in the outlying communities of its Padcal mine in this province over the past four years.
— Sun Star

Industry losses from bird flu hit P1.8 B
Just 10 days after the bird flu outbreak in Pampanga, the local poultry industry has lost approximately P1.8 billion in revenue and may not recover anytime soon as the virus has spread to Nueva Ecija, prompting the Department of Agriculture (DA) to delay anew the lifting of the shipment ban nationwide.
— The Philippine Star

Grand Land to pour P6b into VisMin plans
THE real estate arm of the Gaisano Grand group pledged to invest at least P6 billion for housing projects and tourism establishments over the next three years in the Visayas and Mindanao.
— Sun Star

PHL poultry products banned in 3 countries
Japan, South Korea and Singapore have imposed a temporary ban on poultry products and pet birds from the Philippines after Manila confirmed the outbreak of bird flu in Pampanga.
— Business Mirror

2017 BoP deficit forecast could be exceeded
THE Philippines incurred a deeper balance of payments (BoP) deficit of $678 million in July, the widest gap in eight months on account of foreign exchange operations of the Bangko Sentral ng Pilipinas (BSP) and national government debt payments.
— The Manila Times

PAL offers WiFi subscription plans to passenger
Flag carrier Philippine Airlines (PAL) is allowing passengers to use the internet for free for 30 minutes or 15 MB on its flights and to surf longer for the rest of the trip at 50 percent off, as part of improving its service.
— The Philippine Star

Senate majority seeks probe into Kian delos Santos’ death
The Senate majority bloc adopted a resolution calling for a probe into the recent spate of killings in the Duterte administration’s drug war, including the death of 17-year-old Kian Loyd delos Santos, who was shot by police conducting anti-drug operations in Caloocan City.
— Rappler

PSEi may stay above 8,000 this week
he benchmark Philippine Stock Exchange index (PSEi) may continue to fight to stay above the 8,000 mark this week after it reached a new high last week.
— The Philippine Star

P10.2B eyed for MM, Cebu Bus Rapid Transit projects
At least PHP10.2 billion has been allocated in the proposed PHP3.767-trillion national budget for 2018 to finance the Bus Rapid Transit (BRT) systems in Metro Manila and Cebu, a lawmaker at the House of Representatives said on Sunday.
— Philippine News Agency

DPWH spending P160b to ease traffic
The Public Works Department said it is on track toward resolving the traffic woes in Metro Manila in three years as it is spending over P160 billion next year alone for traffic decongestion program.

PH urged to file protest vs China’s incursions
A maritime and security expert have called on the Philippine government to file a diplomatic protest over China’s apparent incursions into the country’s territorial waters after a dozen of its military and fishing vessels were spotted near Pag-asa Island last week.
— Philippine Daily Inquirer

Grab says it needs around 8,000 to 10,000 more vehicles to meet demand
GRAB PHILIPPINES (MyTAXI.PH, Inc.) said it needs around 8,000-10,000 more vehicles to operate on its platform to meet high demand.
— BusinessWorld Online

Soybean buyers from the Philippines tour South Dakota farms
The South Dakota Soybean Research and Promotion Council is working to promote the state’s crops by hosting international buyers.

Not too late for manufacturing (Part II)
The brightest prospects for manufacturing growth in the Philippines are offered by recent developments in the East Asian region. Dr. L. U explained these developments as follows.” “The ascendancy of China in the 1990s, with its vast market and cheap labor, had drawn investments away from the Philippines (and other countries), inspiring the oft-repeated metaphor then of a “giant sucking sound’ as China diverted foreign direct investments to itself and became the world’s factory.
— Manila Bulletin


Feature photo ILO in Asia and the Pacific
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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