Philippines Morning News For October 31

Philippines Morning News For October 31

Philippines morning newsPhilippines, Japan ink $6-B business deals
At least 25 business deals representing roughly $6 billion in new investments have been signed by Philippine and Japanese firms in a development that officials said affirmed investor confidence in the Philippines.

ADB approves $100-M loan for ‘Build Build Build’
The Asian Development Bank (ADB) has approved a $100-million loan expected to help accelerate the Duterte government’s “Build Build Build” program.
The Manila Times 

Japan commits to fast-track subway, train system projects in Philippines
“I am pleased with Japan’s reiteration that it is fully committed to – as he described it – ‘give flesh’ to the 1 trillion yen or close to nine billion dollars pledge for assistance to the Philippines,” President Rodrigo Duterte said in joint press conference after the meeting with Japanese Prime Minister Shinzo Abe on Monday in Tokyo.
Update Philippines

PLDT invests P7B in undersea cable system
PLDT, INC. on Monday said it is investing around P7 billion ($136.7 million) in a new Trans-Pacific cable system that will be built and operated by a consortium of global firms including Amazon and Facebook.

Philippine banana exporters hope for reduced tariffs with Japan
The executive director of the Pilipino Banana Growers and Exporters Association (PBGEA) hopes Philippine President Rodrigo Duterte will be able to encourage the Japanese government to relax if not lift the imposition of hefty taxes on Philippine bananas during his two-day working visit in Japan.
Fresh Plaza 

Data-privacy law to boost PHL cybersecurity sector
BY providing personal data like name, address, birthday, e-mail and telephone number, a guest, in effect, gives an implied consent to the organizers of an event, according to Philippine Computer Emergency Response Team (PhCERT) President Lito Averia.

Duterte to swap notes on drug war with Trump
Fighting drugs and terror is seen to highlight President Duterte’s meeting with US President Donald Trump in November in Manila during the Association of Southeast Asian Nations (ASEAN) Leaders Summit and Related Meetings.

Japan to help rebuild Marawi
JAPAN yesterday said it will help rebuild conflict-torn Marawi City as it offered funding for infrastructure that includes a possible 600-billion yen loan for a subway in Manila.

Agri firm moves to cryptocurrency trade
Joseph Calata, Calata Corp. president, is dangling cryptocurrency to shareholders as an alternative to tendering their shares as ordered by the Philippine Stock Exchange (PSE) in relation to his company’s forced delisting.

Oct inflation seen hitting 3.2-3.7%
Inflation is likely to hit 3.2 percent to 3.7 percent this month on the back of higher utility rates, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
The Manila Times 

Mighty payment boosts excise tax collection
The Bureau of Internal Revenue’s (BIR) excise tax collections from sin products in September jumped by 12 percent, as excise taxes from Mighty Corp, now owned by Japan Tobacco International (JTI), saw a triple-digit spike from the same period a year ago.

Retail lib to kill SMEs
The further opening up of the retail industry would kill local small and medium enterprises (SMEs) in the country, according to Samie Lim, chairman emeritus of the Philippine Retailers Association .

10 bills pending in 17th Congress on respect for the dead and rights of family members
Ten bills were filed during the current 17th Congress seeking to reform the country’s laws mandating protection and show of respect for the dead and their bereaved families. The ten surpassed the number of similar measures filed in the four past Congresses.
Manila Bulletin 

Grab offers 100K reward for info on driver’s killers
Transport network company Grab Philippines said it would give a P100,000 bounty to whoever could provide information on the killers of Grab driver Geraro Maquidato Jr.
The Manila Times 

Why Japan’s New Military Aircraft Gift to the Philippines Matters
Last week, Japan disclosed that, following a change in Japanese law, it will now be donating five aircraft to the Philippines rather than leasing them as previously agreed. Though the move represents just one change in a broader relationship that has already been deepening in the defense realm, its significance for both sides and the wider region ought not to be underestimated.
The Diplomat

New telco player could aid shift to e-payments
THE ENTRY of a new telecommunications provider could spur a faster migration to electronic payments, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. said, with connectivity issues in the Philippines seen as a “pain point” for the financial sector.

Oil tycoon buys out FamilyMart owners
DAVAO-BASED tycoon Dennis A. Uy is acquiring the local operator of FamilyMart convenience stores through Phoenix Petroleum Philippines, Inc. — the latest in a series of buyout deals that broaden his business beyond logistics and oil.

Philippine bishops welcome Duterte’s peace overture
At least three Filipino Catholic bishops welcomed President Rodrigo Duterte’s statement early last week in which he said he is ready to develop a “good rapport” with the country’s church leaders.

At Port of Manila, cargo clearance is now paperless
THE CARGO clearance process at the Port of Manila will now be fully paperless after the chief of the Bureau of Customs announced yesterday that he had ordered the dismantling of transaction windows at the country’s second largest port.

Philippines, Japan condemn North Korea missile tests
The Philippines and Japan yesterday condemned the missile tests by North Korea and called for the resumption of talks to defuse the tension in the Korean Peninsula.

Immigration raises terror alert in all ports
THE Bureau of Immigration on Monday placed on heightened alert its officers in all airports and seaports to thwart any attempts by terrorists and illegal aliens to enter the country during All Saints’ Day and in preparation for the coming Asean Summit meetings in mid-November.
Manila Standard 

Free e-trike rides on Undas at Manila North Cemetery
This was disclosed by MNC Director Daniel Tan, who noted that it will be the first time that free rides will be given at that the city-owned, 54-hectare cemetery.
Manila Bulletin

Feature photo European Commission DG ECHO
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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