Philippines Morning News For July 11

April FDI retreats from year-ago record
FOREIGN direct investment (FDI) net inflows to the Philippines hit a 12-month high in April even as they slid from the year-ago record haul, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— BusinessWorld Online

Taiwan 6th top source of visitors to Philippines in first 5 months
Manila, July 10 (CNA) The number of Taiwanese visiting the Philippines in the first five months of 2017 rose 20 percent from the previous year, making Taiwan the Philippines’ sixth largest source of overseas visitors, according to the latest Philippine Department of Tourism data.
— Focus Taiwan News Channel (press release)

80 firms in Misamis Oriental asked to pay P2-B in taxes
Some 80 private companies, including a coal-fired power plant in Villanueva, Misamis Oriental were ordered to pay more than P2 billion in back taxes or be phased out of the province’s industrial economic zone.
— The Manila Times

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

Federal Land, 2 Japanese firms to build USD400-M Sunshine Fort in BGC
Federal Land, Inc., a unit of GT Capital Holdings, Inc., has forged partnership with two Japanese firms to build a USD400-million residential and retail complex in Bonifacio Global City (BGC), Taguig City.
— Philippine News Agency

Fast food chain donates P10 million for 1,000 farmers
In celebration of its 1000th store in Triangle Drive corner 39th Street in Bonifacio Global City (BGC), fast food chain Jollibee recently announced its P10 million investment for the benefit of 1,000 young farmers.
— The Philippine Star

PH seeks additional compliance review in cigar dispute vs Thailand
The Philippines has asked WTO for another review of Thailand’s compliance with its ruling five years ago directing the latter to correct the unfair tax treatment it imposed on cigarettes imported from the Philippines.
— Manila Bulletin

Snubbed? ASEAN chairman Duterte wasn’t invited to G20 Summit
Despite being chairman of the Association of Southeast Asian Nations (ASEAN) this year, Philippine President Rodrigo Duterte was not invited to the prestigious G20 Summit held in Hamburg, Germany last week.
— Rappler

PH shares stumble; peso weakens anew
Philippine shares go against the tide in Asia, starting the week on the back foot. On a day, the peso weakened further against the dollar.
— ABS-CBN (Video)

Crisis after crisis, Duterte still on top
Philippine President Rodrigo Duterte, elected on a tough-talking populist platform, enters his second year in office from an unrivaled position of strength.
— Asia Times

BMW group’s factories in Asean to use more auto parts from PHL
The Department of Trade and Industry (DTI) said Germany’s BMW Group is planning to increase its purchase of local automotive parts and is also keen on supplying electric vehicles to the Philippines.
— Business Mirror

Philippines gets P117.5-M education aid from Japan
The Japan International Cooperation Agency said Monday it signed with the Philippines’ National Economic Development Authority a 264-million yen (P117.5 million) education grant.
— ABS-CBN

‘At 11 years old, they’re getting pregnant’: the women smashing Catholic taboos in the Philippines – video
Such is the stigma around sex education and family planning in the Philippines that 65% of women there still do not use contraceptives. Five years ago the Philippine Congress passed a reproductive health law guaranteeing universal access to family planning, but misinformation is still rife.
— The Guardian (video)

Philippines significantly cuts permitting time for large-scale energy projects
The Philippines are cutting down the time it requires for renewable energy projects to secure necessary permits and licenses to start large-scale power projects.
— Think GeoEnergy

AFP opposes ID cards for Muslims
The military is not in favor of the proposal to issue identification cards (IDs) to Muslims, saying it discriminates against people based on religion.
— The Philippine Star

Villar threatens to sue plant agency over garlic cartels
SEN. Cynthia Villar on Monday threatened to sue the Bureau of Plant Industry (BPI) for its failure to stop the cartels that continue to manipulate the prices of some agricultural products being imported into the country.
— The Manila Times

Catholic prelate slams inclusion of Bibles in relief items for Marawi evacuees
A retired Catholic prelate on Monday criticized the alleged giving away of Bibles along with relief goods at evacuation centers for the Marawi siege refugees.
— Philippine News Agency

7 suspected members of Maute clan barred from leaving PH
The seven passengers, including 2 minors, were supposed to leave for Kuala Lumpur, Malaysia on board Cebu Pacific flight 5J 499 when they were intercepted by Bureau of Immigration personnel.
— ABS-CBN

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.

Philippines Morning News For July 11 added by Stella-maris Ewudolu on July 11, 2017
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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.