Philippines Morning News For September 19

Philippines tops Asia on financial inclusion list
THE PHILIPPINES remains Asia’s leader in financial inclusion due to policies supportive of wider banking access, the Brookings Institution said in a report, even as the country slipped a rung from its rank a year ago.
— BusinessWorld Online

PSEi hits all-time high in upbeat trading
The local stock barometer explored new highs yesterday, now nearing the 8,300 level, as upbeat Wall Street trading boosted risk-taking across regional markets.
— Philippine Daily Inquirer

PHL cut undernourished count to 13.9 million in 2016–FAO study
Despite the presence of conflict for two decades, the Philippines managed to cut its undernourished population to 13.9 million in 2016, from 14.1 million in 2014, according to the latest report of the United Nations’s Food and Agriculture Organization (FAO).
— Sun Star

Peso strengthens on weak key US data
THE PESO gained strength versus the dollar yesterday on the back of weak economic data in the United States, with the sideways move reflecting market caution ahead of President Donald J. Trump’s speech before the United Nations.
— BusinessWorld Online

Social media keeps mail-order bride industry afloat in PH
Social media has kept the number of mail-order brides or marriage migrants afloat, an official of the Commission on Filipinos Overseas said Monday.
— Northbound Philippines

BOI oks P56-M VCO project
The Board of Investments (BOI) has approved the P55.9-million project of Rizal VCO Phils. Corp. as a new export producer of virgin coconut oil (VCO), the agency reported yesterday.
— The Philippine Star

ING: Peso likely to stay at P51:$1 level
Continued remittance inflows and a better-than-expected current account position could keep the Philippine peso in P51:$1 territory for the rest of year, ING Bank said on Monday.
— The Manila Times

Remittances expected to grow faster
ING Bank expects remittances from Filipinos working overseas to grow faster in the third quarter, following the 7.1-percent expansion seen in July.
— Manilastandard.net

Fruit prices stable since last week
PRICES of selected fruits at Bankerohan and Agdao Public markets remained stable as of Monday, September 18, based on the price monitoring conducted by SunStar Davao.
— Sun Star

Homegrown food chain goes to UAE
Max’s Group Inc. (Max’s) said it has partnered with Kasamar Holdings to build seven Sizzlin’ Steak outlets in the United Arab Emirates (UAE) over the next five years.
— Malaya

US firms mull expansion, relocation of manufacturing to Philippines
Several US-based companies are looking to relocate and expand their manufacturing facilities in the country as the trade department continues to strengthen business collaboration with investors and multinational corporations.
— The Philippine Star

Sta. Lucia allots P15 billion for capex
STA. LUCIA Land, Inc. (SLI) is strengthening its presence nationwide as it plans to spend P15 billion in the next three to five years to develop its existing properties.
— BusinessWorld Online

SMC to invest P60 billion in Misamis Oriental
THE San Miguel Corporation (SMC) is planning to pour P60 billion worth of additional investments in Misamis Oriental next year, Governor Yevgeny Vincente Emano said on Monday, September 18.
— Sun Star

IFAD to help Filipino farmers raise exports
International Fund for Agricultural Development (IFAD), together with Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), will put in millions of funds in order to assist small Filipino farmers raise their exports as well as deal with the huge trade imbalance between the Philippines and other rich countries.
— Manila Bulletin

Risk of Filipino workers being replaced by robots low–Unctad
The risk of workers in developing economies, including the Philippines, being displaced by robot-based automation of manufacturing processes remains to be low, according to the United Nations Conference on Trade and Development’s (Unctad) 2017 Trade and Development Report.
— Business Mirror

Govt to create fund for jobless workers
The government is keen on setting up a fund for jobless employees to help tide them over while they’re looking for another job, according to the National Economic and Development Authority (Neda).
— Business Mirror

Government borrows 56% more in 7 months
The national government borrowed P519.97 billion from both domestic and foreign lenders in the first seven months, a sharp 55.7 percent from P334.03 billion in the same period last year, data from the Bureau of the Treasury (BTr) showed.
— The Philippine Star

Megawide shrugs off competition from abroad
Listed contractor Megawide is eager to continue its early success in building infrastructure projects for government despite rising competition from abroad.
— ABS-CBN (video)

Megawide’s proposed East-West Railway to cost $1 billion
Megawide Construction Corporation, a front-runner in public-private partnership (PPP) projects, disclosed the cost of its proposed 9.4-kilometer elevated railway line from Diliman, Quezon City to Lerma, Manila: around $1 billion (P51.17 billion).
— Rappler

Hataman uncovers 207,000 ghost students in ARMM
AUTONOMOUS Region in Muslim Mindanao (ARMM) Gov. Mujiv Hataman claimed to have uncovered 207,000 “ghost students” in the region from 2011 to 2016.
— The Manila Times

Real estate, Car loans up in first half
TOTAL residential real estate loans (RRELS) of the banking system reached P530.7 billion in the first semester, data from the Bangko Sentral ng Pilipinas (BSP) show.
— Sun Star

GMA targets P120-M sales from regional unit
GMA Network’s regional arm GMA Regional (RTV) is targeting sales of P120 million this year with its strengthened news program in the southern Philippines.
— The Manila Times

Davao urges young to undergo HIV test
The local government here is urging young residents to undergo HIV (Human Immunodeficiency Virus) testing as health officials here continue to see a rise in infection of the said virus.
— Davao Today

P6.7B allocated for brand new Coast Guard air, sea assets
The Philippine Coast Guard (PCG) has been allocated with PHP6.7 billion for the acquisition of sea and air assets in 2018, House appropriations committee member Surigao del Sur Representative Johnny Pimentel said. PHP3.1 billion was lodged in the budget of the PCG itself, while P3.6 billion is in the allocation of its mother agency, the Department of Transportation.
— Update Philippines

JICA’s program expands opportunities for special kids in Iloilo
The Japan International Cooperation Agency (JICA) is implementing a program meant to increase opportunities for children with special needs in Iloilo Province.
— Philippine News Agency

Duterte to invite UN rights body to set up office in PH
President Rodrigo Duterte on Monday said he will invite the United Nations Commission on Human Rights (UNCHR) to set up an office in Manila to observe police anti-drug war operations.
— Philippine News Agency

Feature photo Department of Foreign Affairs and Trade
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.

Philippines Morning News For September 19 added by Stella-maris Ewudolu on September 19, 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.