Philippines Morning News For October 19

Philippines Morning News For October 19
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Philippines morning newsPres. Duterte commits to improve PH for OFWs
President Rodrigo Roa Duterte on Wednesday, October 18, reiterated his pledge to improve the Philippine economy in a bid to help Filipinos working abroad and their families.
Philippine News Agency 

Government to invest P7.7 billion for free Wi-fi service in next 5 years
IMPROVING the state of the Internet in the Philippines—described as slow, expensive and congested—will require an investment of roughly $150 million, or P7.7 billion, from the government over the course of President Durterte’s term, quite a costly Band-Aid solution, but is seen to also help reduce costs in the long run.
BusinessMirror 

PHL needs above 6% GDP growth up to 2040 to end poverty–expert
If the Philippines wants to eradicate poverty, it must post a GDP growth of at least 6 percent every year until 2040, according to a former dean of the University of the Philippines (UP) School of Economics.
BusinessMirror 

Congress, PRRD asked to avert collection of ‘unconscionable’ water rates
Lawmakers called on Congress and the executive department to address alleged overcharging of water consumption by private concessionaires operating in Metro Manila.
Manila Bulletin 

PH seeks US grant for local tax academy
The Philippines is seeking a grant from the United States for the establishment of the country’s first tax academy.
The Manila Times 

Balisacan bucks high rice tariffs in lieu of QR
While the removal of the quantitative restriction (QR) on rice will promote greater competition in the country’s rice sector, Philippine Competition Commission (PCC) Chairman and former Socioeconomic Planning Secretary Arsenio M. Balisacan said replacing it with a high tariff rate could make food items more expensive.
BusinessMirror 

PH to host Asean+6 construction forum
The Philippines will be hosting an international construction forum next week with the aim of advancing Southeast Asian economic integration and making global players out of local and regional companies.
The Manila Times 

Metro Manila, Mindanao satisfaction with Cabinet declines – SWS
The satisfaction of Metro Manilans and Mindanaoans with the Duterte administration has declined but remained “good” in the past three months, the third quarter Social Weather Stations (SWS) survey results showed.
Manila Bulletin 

4 dead as fighting continues in southern Philippine city
Philippine troops killed four Islamic State group-linked militants in a clash and occasional blasts thundered across Marawi on Wednesday after the president declared the southern city liberated from “terrorist influence.”
ABC News

Reform Addresses Need for Impartial Election Staff in the Philippines
On October 2, Philippine President Rodrigo Duterte signed a law postponing barangay (village) and Sangguniang Kabataan (youth) elections to May 2018—less than one month before they were scheduled to take place on October 23.
Asia Foundation 

Manila 6th best mega city for women
Malacañang yesterday welcomed the results of a Thompson Reuters Foundation poll suggesting that Manila is a relatively safe city for women.
Philstar 

Inside Islamic State’s Other Grisly War, a World Away From Syria
On the third day of his captivity, during one of the most violent jihadist rebellions outside the Middle East and Africa, Ronnel Samiahan watched Islamist militants make an example of a fellow hostage who had tried to break free.
The Wall Street Journal (paywall)

8th ASEAN Regional Tripartite Conference being held in Manila
Participants in the ongoing 8th Association of South East Nations (ASEAN) Regional Tripartite Social Dialogue Conference here are discussing topics concerning labor and employer.
Philippine News Agency 

DOT allots P2-M to boost Zamboanga tourism
The Department of Tourism (DOT) has allotted some PHP2 million for a product enhancement initiative meant to revive Zamboanga tourism.
Philippine News Agency

After transport strike, House panel tackles PUV modernization
Following a two-day jeepney strike that also led to the suspension of classes and work nationwide early this week, the House committee on transportation on Thursday, October 19, will hold a hearing to discuss the strike and the government’s proposed modernization program for public utility vehicles (PUVs), better known as the Philippine jeepney.
Rapper 

Meralco mulls purchase of up to 100MW additional solar capacity
MANILA ELECTRIC Co. (Meralco) is considering to buy up to 100 megawatts (MW) solar capacity after it agreed to three power supply agreements (PSAs) that have become the benchmark for pricing electricity produced by the renewable energy.
BusinessWorld 

BSP wants single-digit reserve requirement ratio
THERE IS SIZEABLE ROOM to trim big banks’ reserve requirement to as low as single-digit levels from 20% currently, the central bank chief said, even as he noted that such a move will have to be timed carefully alongside tweaks to interest rates.
BusinessWorld 

Firms urged to take out cyber insurance
Data-dependent companies such as banks and outsourcing firms must rethink their cybersecurity systems and processes given rising threats, multinational insurer American International Group Inc. (AIG) said.
The Manila Times

SE Asia’s top terror leader Hapilon killed as Marawi siege nears end
After 16 years of dodging military dragnets and spreading terror in southern Philippines, Isnilon Hapilon, Southeast Asia’s most notorious IS-linked terrorist leader, was killed Monday dawn during a gun battle with government forces making their final offensive against Maute terror group gripping Marawi City since May 23 this year.
Philippine News Agency 

Philippine Long Distance Telephone Company (NYSE:PHI) Broker Price Targets For The Coming Week
Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Philippine Long Distance Telephone Company (NYSE:PHI).
Fiscal Standard 

Politics and trade do not mix, Lopez tells EU businessmen
This was the conclusion when Trade and Industry Secretary Ramon Lopez spoke Tuesday, October 17, at the European Union-Philippines Business Summit held at the Solaire Grand Ballroom.
Rapper 

Fratman names 6 behind Atio’s death
THE Senate on Wednesday released the testimony of John Paul Solano, in which he identified six Aegis Juris Fraternity members whom he saw at the fraternity library where UST freshman law student Horacio “Atio” Castillo 3rd died from hazing.
The Manila Times 

Manila to host UN Wildlife Conference next week
Over 120 countries will gather in Manila on October 23 to 28 for the 12th meeting of the Conference of the Parties to the Convention on Migratory Species (CMS COP12), the first time the conference will be held in Asia.
The Manila Times 

25,000 health workers needed in rural areas
THE national government has opened 25,000 slots for health workers to be deployed in rural areas next year, a lawmaker from Mindanao said.
The Manila Times 

Philippine military wants stronger law to deal with IS-linked terrorism
Military spokesman Maj-Gen Restituto Padilla Jr. said the government should strengthen the Human Security Act on Republic Act 9372 which took effect on March 6, 2007.
Thai PBS 

PH startups aim to tap global mart
Philippine-based startups consider entering new foreign markets in the next three to five years, according to the Philippine Startup Survey of Isla Lipana & Co./PwC Philippines and QBO Innovation Hub.
Philippine News Agency 

Diokno assures budget for Marawi rehab
Budget and Management Secretary Benjamin Diokno on Wednesday assured Marawi City residents that the government has the funds for the area’s rehabilitation.
Philippine News Agency 

Feature photo Andrew and Annemarie
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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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