Philippines Morning News For July 6

Philippines Morning News For July 6

Philippines morning news

P800 M needed to rebuild 15 Marawi schools – Briones
Department of Education (DepEd) Secretary Leonor Briones said it will cost around P800 million to rebuild 15 Marawi City schools affected by the clash between government troops and the Maute terror group.
— Manila Bulletin

Aussie firm to donate 2,000 electric vehicles
In support of the government’s public utility vehicle (PUV) modernization program, an Australian firm said it will donate as many as 2,000 solar electric vehicles to transport groups in this city.
— Manila Bulletin

Petronas Dagangan to sell Philippines LPG business for US$124 million
Petronas Dagangan Berhad , the marketing and retailing arm of Malaysian state energy firm Petronas, on Wednesday said it has entered into an agreement to sell its liquefied petroleum gas (LPG) business in the Philippines for US$124 million.
— Free Malaysia Today

Korean embassy donates P 5-M for Marawi evacuees
The Korean embassy here has donated PHP5 million to the Philippine Red Cross (PRC) for the benefit of those affected by the armed conflict in Marawi City.
— Philippine News Agency

Export volumes of Philippine bananas to China show sudden collapse
In the first four months of 2017, the export volume of Philippine bananas to the Chinese market has dropped 33%, compared to the same period last year. The Filipino Banana Growers and Exporters Association (PBGEA) states that, influenced by the dry weather of last year, they already expected this trend.
— Fresh Plaza

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Moody’s, FMIC turn cautious on PHL growth prospects amid spending concern
THE PHILIPPINES can be expected to hit the low end of its growth goal this year given a softer climb in state spending and mounting uncertainty on whether the government can fully roll out its ambitious infrastructure plan as it changed gears on financing mode, analysts of Moody’s Investors Service and First Metro Investments Corp. (FMIC) said separately yesterday.
— BusinessWorld Online

Duterte proposed deal to end Marawi siege, but talks fell through
President Rodrigo Duterte was preparing to make a deal with Islamic State-inspired militants in the days after they laid siege to a southern city, but aborted the plan without explanation, an intermediary involved in the process said.

Peso sinks to new 10-year low ahead of Fed minutes
THE PESO reversed its gains against the dollar yesterday, plunging to its weakest level in more than a decade on Wednesday amid heightened caution ahead of the release of the minutes of US Federal Reserve’s June meeting and safe-haven buying following geopolitical uncertainties in North Korea.
— BusinessWorld Online

Bodies of two Vietnamese sailors have been found headless on an island in the southern Philippines
IN a gruesome discovery, the bodies of two Vietnamese sailors have been found beheaded on a tropical island paradise in the southern Philippines.

Manufacturing resurgence to add more than 1M jobs
HIGHER consumption and the real-estate boom would allow the Philippine manufacturing sector to create over a million jobs in the next five years, according to a local think tank.
— Business Mirror

Court junks PNP exec’s bid to be dropped from graft case
The Sandiganbayan has denied a police narcotics officer’s motion to be dropped from a graft case connected to a controversial firearms license deal when he headed the Philippine National Police licensing division.
— Philippine Daily Inquirer

AFP prefers ‘askal’ over ‘imported’ dogs for K-9 duty
The “askal” (“asong kalye,” or street dog) or “aspin” (“asong Pinoy,” or Filipino dog) is better suited for K-9 security unit duties than “imported” breeds, a military spokesperson said on Wednesday.
— Philippine Daily Inquirer

‘Over 18,000 Marawi evacuees pregnant or have given birth’
Over 18,000 women affected by the prolonged armed conflict in Marawi City and are staying at evacuation centers are believed to be pregnant or to have just given birth, the United Nations Population Fund (UNFPA) said.
— The Philippine Star

Tax reform seen to hit residential market hard
The residential market is likely to take a hit once the country’s tax reform plan as approved by the House of Representatives is implemented, real estate consultancy firm Colliers International Philippines warned.
— The Philippine Star

Inflation slows to 2.8% in June
The growth in consumer prices eased for a second straight month to 2.8 percent in June from 3.1 percent in May due to slower price increases in food, fuel and electricity, the Philippine Statistics Authority (PSA) reported yesterday.
— The Philippine Star

Maute financiers nabbed in CDO
Three suspected financiers of the Islamic State-linked Maute terrorist group were arrested early on Wednesday in a raid in Cagayan de Oro City, the military said on Wednesday.
— The Manila Times

Moody’s: PH banks stable as economy remains robust
Credit rater Moody’s Investors Service maintained its stable outlook for Philippine banks in line with its view that the economy will continue to be robust.
— The Manila Times

PSBank to deactivate all non-EMV cards by September 1, 2017
PHILIPPINE Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, has declared a deadline for deactivating all its non-EMV cards in line with its thrust to provide clients with more secured products and services.
— Sun Star

COA: Cebu City fails to liquidate P42.2 million in CAs
THE Commission on Audit (COA) has given the Cebu City Government a qualified opinion in its annual audit report for 2016. However, several exceptions were noted, including unliquidated cash advances and unrecorded disbursements, among others.
— Sun Star

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Pesquera: P900-million for CCMC are all foreign pledges
CEBU City Councilor Joy Pesquera clarified that “not even a single cent” from the foreign countries that pledged to give funds for the construction of the Cebu City Medical Center (CCMC) has been sent to City Hall.
— Sun Star

12 firms lead Philippines in ASEAN integration: book
Twelve Filipino firms are among Southeast Asian firms cited in the book ASEAN Champions: Emerging Stalwarts in Integration, which will be launched on Wednesday.


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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