Philippines Morning News For September 1

Peso declines further on US GDP data
THE PESO finished the week lower against the dollar yesterday amid a quiet trading session due to upward-revised US economic growth in the second quarter.
— BusinessWorld Online

Hot money outflows reach USD297 M
Volatilities in the financial market as a result of the uncertainties overseas continue to result in net outflows of foreign portfolio investments in the Philippines as of the week ending August 18, 2017.
— Philippine News Agency

New law ups penalties for treason, sedition, rebellion, other crimes
Persons involved in treason, sedition, rebellion, and certain crimes in the Revised Penal Code could face stiffer penalties under a new law signed by President Duterte.
— Manila Bulletin

Filipinos form coalition against Duterte’s ‘autocratic rule’
Clergy, academics, lawyers, journalists and artists launched a broad coalition against the “autocratic rule” of Philippine President Rodrigo Duterte.
— The Catholic Register

Jails, justice system at breaking point as Philippine drugs war intensifies
In a teeming prison for undertrials in the Philippines’ capital Manila, Rody Lacanilao, an inmate for 18 months, says he prays for clear weather at night.
— Reuters

NBI: Cops murdered Kian delos Santos, planted evidence
The National Bureau of Investigation (NBI) on Thursday, August 31, filed a complaint for murder and planting of evidence against Caloocan City policemen who killed teenager Kian delos Santos during a drug raid on August 16.
— Rappler

Spreading fake news now a crime
President Duterte signed into law this week Republic Act 10951, which includes a provision imposing penalties on a person found guilty of spreading fake news that might affect public order.
— The Philippine Star

Construction in the Philippines: To Generate More Employment in Coming Years
The research study on “Construction in the Philippines, Key Trends and Opportunities to 2021” gives elaborated showcase investigation, data and bits of knowledge into the Philippine construction development industry.
— Digital Journal

PSEi ends flat; Ayala firms lead gainers
The local stock barometer ended flat yesterday ahead of a long weekend break.
— Philippine Daily Inquirer

China’s Jiangxi TV seeks ties with PH, other ASEAN channels
Jiangxi TV, one of the top 10 urban television channels in China, has expressed intention to expand cooperation with counterparts in the Southeast Asian countries, including the Philippines.
— Northbound Philippines

CA upholds Vitangcol’s dismissal over $30-M extort try
The Court of Appeals (CA) has upheld the dismissal from service of former Metro Rail Transit Authority (MRTA) general manager Al Vitangcol III over a multimillion-dollar extortion attempt.
— The Philippine Star

Brazil exporters seek speedy resolution of salmonella issue
The Brazillian Animal Protein Association (ABPA) is urging Manila to fast-track the investigation into the contamination of some meat shipments with salmonella to the Philippines in July.
— Business Mirror

Lawmakers question 4,400 per cent increase in anti-drug budget
Lawmakers have asked today (Thursday, August 31) for an explanation for proposals to increase the police’s anti-drug budget by 4,400 per cent.
— Philippines Lifestyle (blog)

Philippines seeks comments on mandate to allow end-users renewable energy consumption
The Philippines Department of Energy (DoE) has invited comments on the final draft of a new scheme that allows end-users the option to choose renewables as their source of energy.
— PV-Tech

Robredo supporters raise P7.4M poll fee
IN LESS than two months, supporters of Vice President Leni Robredo have finally raised the P7.4 million needed for her counter-protest poll fee against former senator Ferdinand “Bongbong” Marcos Jr., who questioned her win in the 2016 vice presidential race before the Presidential Electoral Tribunal (PET).
— Malaya

Philippines’ M3, bank lending growth accelerate in July
The Philippine central bank on Thursday released preliminary data for July domestic liquidity (M3) and bank lending.
— Reuters

Joint development might legitimize China claim in West Philippine Sea: analyst
A joint development venture with China in the Recto Bank, which lies within the West Philippine Sea, may legitimize Beijing’s claim in the disputed waters, an analyst said Thursday.
— ABS-CBN

Vizcaya expects P160-m tourism infra assistance
This province is expected to receive funding assistance next year to boost its ecotourism potential.
— Manilastandard.net

US gov’t donates drug detection devices to PDEA-NAIA
The United States government has donated narcotics detection devices to the Philippine Drug Enforcement Agency (PDEA) assigned at the Ninoy Aquino International Airport Inter-Agency Drug Interdiction Task Group (NAIA-IADITG) to bolster the drug interdiction capabilities of the country’s premier airports.
— Philippine News Agency

Duterte eyes moving intel funds to anti-terror campaign
President Duterte is looking to transfer intelligence funds of his office for the use of the Armed Forces of the Philippines (AFP) in its campaign against terrorism in Mindanao.
— The Philippine Star

Philippines: BDO Unibank raising $700m via notes issue
BDO Unibank Inc (BDO) is raising $700 million through a senior notes issue, the largest single issuance by a Philippine bank.
— Deal Street Asia

Central bank sees August inflation at 2.6 to 3.4 pct
Inflation in August likely ranged from 2.6 to 3.4 percent on the back of higher pump prices, electricity rates and the continued weakening of the peso, the Bangko Sentral ng Pilipinas said Thursday.
— ABS-CBN

PNP asks P1.8B for body cameras
The Philippine National Police is asking Congress for P1.8 billion to equip its personnel with body cameras to wear during operations.
— BusinessWorld Online

Contribution of trademarked industries lowest in PH: Study
The contribution of trademark-intensive industries to the economy in the Philippines is the lowest in five countries in Southeast Asia, a study released yesterday by the International Trademark Association (INTA).
— Malaya

Cement makers buck minimum requirements for pre-shipment inspection of imports
The country’s major cement executives, including tycoon Ramon Ang, have expressed opposition to the proposed minimum requirement of pre-shipment inspection for cement imports as they call for a rigorous testing procedure for all cement coming from abroad to ensure consumer safety.
— The Philippine Star

Philippines top banana supplier for Japan
apan’s fresh fruit imports during July 2017 were up 108 per cent on the same month last year, hitting 155,368 tonnes, according to data from Japan’s Ministry of Finance.
— Fruitnet

House panel wants Customs abolished
The House Committee on Dangerous Drugs is recommending the passage of a law that would replace the Bureau of Customs (BoC) with a new tariff collection agency, after several hearings on the P6.4 billion worth of illegal drugs smuggled into the country in May.
— The Manila Times

Philippine palm oil plan ‘equals corruption and land-grabbing,’ critics say
If the street Pedro Arnado was looking down was on the Philippine government’s roadmap for future palm oil development, critics say it would be one highly dangerous to navigate, lined with the hazards of unfair labor practices, land poverty, militarization and environmental degradation.
— Mongabay.com

Divergent twins: PH and Thailand
In 1970, the economies of the Philippines and Thailand looked like identical twins. Almost five decades later, we all know how different the two economies have become. Let me recount and update the story, which I first wrote about in this column 13 years ago.
— Philippine Daily Inquirer

Uber, Grab to provide full insurance coverage to passengers
Transportation network companies (TNCs) have agreed to provide comprehensive insurance coverage to commuters. Land Transportation Franchising and Regulatory Board (LTFRB) spokesperson Aileen Lizada said Uber and Grab have agreed, during its technical working group meeting Wednesday afternoon, to comply with its memorandum circular providing for an enhanced personal accident insurance program.
— Update Philippines

Tax may prompt softdrink maker to rethink $1B investment
Beverage maker Coca Cola FEMSA may rethink its $1-billion investment in the Philippines if the proposed tax on sugar-sweetened beverages (SSBs) in its present form is passed.
— Malaya

P34.47-M worth of equipment released to West Visayas farmers
The Department of Agriculture (DA) gave farmer associations in Western Visayas PHP34.47 million worth of 188 quality equipment during Wednesday afternoon’s visit of Secretary Emmanuel Piñol.
— Philippine News Agency

LRT 1 operator seeks P300m in govt subsidy
Light Rail Manila Corp., a joint venture of Ayala Corp. and Metro Pacific Investments Corp., is demanding P300 million in subsidy from the government for the latter’s failure to implement fare adjustment at Light Rail Transit Line 1.
— Manilastandard.net

Formula on load forecasting proposed
A MATHEMATICS researcher and university instructor proposes for the use of autoregressive integrated moving average (Arima), a mathematical model used for time series analysis, in order to forecast short-term electricity load needed per area.
— Sun Star

PHL to host second Asean congress on sustainable mangrove management
The Philippines will host for the second time a meeting of Asean nations in a bid to strengthen collaboration toward sustainable mangrove management in Southeast Asia.
— Business Mirror

Feature photo ILO in Asia and the Pacific
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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 September 1 added by Stella-maris Ewudolu on September 1, 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.