Philippines Morning News For October 24

Philippines Morning News For October 24

Philippines morning newsQ3 GDP growth ‘likely steady at 6.5%’
Philippine economic growth was likely steady in second quarter given continued domestic spending and export gains, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said on Monday.
The Manila Times 

Govt eyes ADB loan for electric jeepneys
The Energy Department plans to apply for a new loan from the Asian Development Bank to roll out the government’s electric jeepney program, a year after the government cancelled the loan for the electric tricycle program.
Manila Standard

Competition body to pursue review of P70-billion telco deal
POINTING out what it described as “slow, expensive and poor”state of the Internet in the Philippines, the Philippine Competition Commission (PCC) said it will continue to push for the review of the P70-billion deal among telco operators in the country, even with the unfavorable decision from the Court of Appeals (CA).

Philippine banana exporter loses bid for $2.3m tax refund
Banana exporter Tagum Agricultural Development Corp. (Tadeco), which is entangled in a graft case, has lost its bid for a tax refund of around US $2,330,000.
Fresh Plaza 

Ayala set to complete Indonesia wind project
PT UPC Sidrap Bayu Energi, a special purpose company led by the energy unit of Ayala Corp., expects its $150-million, 75-megawatt wind project in Indonesia to start commercial operations in the first quarter of 2018.
Manila Standard 

EU report: PH human rights worsened in 2016 due to war on drugs
The human rights condition in the Philippines “considerably worsened” in the second half of 2016 due to the government’s “war on drugs,” a report from the European Union (EU) said.
CNN Philippines 

China firms investing $4.5b
The Trade Department on Monday welcomed $4.5 billion worth of investments committed by Chinese companies Huili Investment Fund Management Co. Ltd. and Yi Ding Tai International Corp.
Manila Standard 

Govt posts P36.9-B budget deficit for Sept
The budget deficit narrowed in September from a year earlier, the government reported on Monday, as state spending dropped amid a surge in revenues.
The Manila Times 

Government allocates initial P5-B fund for Marawi rehabilitation
The government is allocating an initial PHP5-billion fund that will be spent until the end of the year for the rehabilitation of Marawi City, a Civil Defense official said Monday, October 23.
Philippine News Agency 

Manila Archdiocese’s anti-drug program gets boost from pope
A community-based drug rehabilitation program run by Manila Archdiocese has received a boost from Pope Francis a year after it’s launch.

Caltex turns over P3-M learning tools to 30 Bicol public schools
Legazpi City, Albay – Some P3 million worth of equipment were turned over by Chevron Caltex through the Caltex Fuel Your School (FYS) to the Bicol region’s 30 most needy public schools recently.
Manila Bulletin 

Plastic wastes focus of marine convention
The Philippines will take the center stage when representatives from some 120 countries gather today in Manila for the 12thConference of the Parties to the Convention on Migratory Species (CMS), the first ever in Asia.
Manila Bulletin 

PH proposes setting up of marine protected areas’ network in SEA
The Philippines is hoping to build stronger ties with other members of the Association of Southeast Asian Nations (ASEAN) through the establishment of a network of marine protected areas (MPAs) in the region that would safeguard migratory species and the habitats critical to their survival.
Manila Bulletin 

Government fully awards P15 billion in Treasury bills
THE GOVERNMENT fully awarded P15 billion in Treasury bills (T-bills) offered in Monday’s auction, while yields were relatively flat as market players await the nomination of the next US Federal Reserve chair.

PLDT sees strong growth for home, enterprise
PLDT, Inc. anticipates “positive” fixed line revenues and double-digit growth for its home and enterprise business in the third quarter, its President, Chairman and Chief Executive Officer Manuel V. Pangilinan said.

Philippines sees jump in tourist arrivals from India
The number of leisure travel visitors from India to Philippines is steadily going up and likely to cross the 1-lakh mark this year. Efforts are being made to woo visitors from select tier-II cities for incentive meetings, weddings and leisure travel.
The Hindu Business Line 

Abaya faces raps over MRT-3 deal
FORMER Transportation secretary Joseph Emilio Abaya and several others are facing a graft complaint before the Office of the Ombudsman in connection with the P3.8-billion contract for the maintenance of the Metro Rail Transit Line 3 (MRT-3).
The Manila Times 

Asean calls for peace, freedom of navigation over SChina Sea
CLARK, Pampanga: Defense ministers of the Association of Southeast Asian Nations (Asean) signed on Monday a joint declaration calling anew for stability, peace and freedom of navigation over the West Philippine Sea (South China Sea).
The Manila Times 

Japanese SMEs eye expansion of ties with PH
The Japanese Chamber of Commerce and Industry of the Philippines (JCCIPI) has seen new growth potential to sustain the momentum of an expanding economic partnership between the Philippines and Japan.

Watchdog to pursue ‘appropriate legal steps’
The country’s competition watchdog will pursue efforts to review Globe Telecom and PLDT’s multibillion-peso purchase of San Miguel’s telecommunications assets despite a setback at the Court of Appeals.
The Manila Times

DOT launches ‘fun on the farms’ program
PLANTING rice is never fun, the old Filipino ditty goes. But the Department of Tourism (DOT) seems bent on changing that view by finding ways to make it an enjoyable experience and encouraging tourists to visit farms.

PayMaya, Smart further accelerate rollout of QR code payments nationwide
After it introduced the first Quick Response (QR) code payments via app in the Philippines last May, PayMaya Philippines today announced that the scan-to-pay technology is now available across the country, with Smart Stores and select merchants in key cities now allowing consumers to conveniently pay by simply scanning QR codes through their PayMaya app.

Domestic workers in Asia lack social benefits
Around five million workers in Asia and the Pacific are not enjoying social benefits and labor protection, six years after the adoption of the International Labor Organization (ILO) Convention on Domestic Workers.

Philippines AirAsia picks Clark airport over NAIA as its main hub
Philippines AirAsia Incorporated targets to make the Clark International Airport its main hub for operations, as the Ninoy Aquino International Airport (NAIA) has inadequate space for the budget airline’s fleet expansion, its chief said.

DOTA prodigies chase million-peso dreams in Philippines
Five young men toil for 14 hours a day under black light, inside a cramped room with blinder curtains, hoping to turn their mastery of DOTA into another multi million-peso payday.

Feature photo Marcin Gabruk
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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