Philippines Morning News For September 26

PDEA fights big drug problem with a measly P1.4-B budget
How can you fight a P12-billion monthly drug problem with a measly P1.4-billion budget for the entire year?
— Philippine Daily Inquirer

Three more Maute hostages rescued; 46 still held captive
The Armed Forces of the Philippines-Western Mindanao Command (AFP-WestMinCom) on Monday confirmed the rescue of three more hostages at the Main Battle Area (MBA) in Marawi City.
— Manila Bulletin

Philippines woos Qatari firms to invest in agro-industrial zones
The Philippines is inviting foreign investors including Qatari companies to invest in nearly six million hectares of lands available as agro-industrial zones and halal hubs and production zones, said Philippine Economic Zone Authority (PEZA) Director General Charito Plaza.
— The Peninsula Qatar

Profit taking halts market upswing
Share prices took a breather yesterday as investors pocketed their gains after the recent rally, analysts said.
— The Philippine Star

P10.9-billion clothing allowance allotted for state workers, police, military in 2018
The annual clothing allowance of 1.12 million civilian national government employees will increase to P6,000 in 2018, from the current P5,000, Senate President Pro Tempore Ralph G. Recto said in a news statement released on Monday.
— Business Mirror

Gov’t fully awards Treasury bills
THE GOVERNMENT raised P15 billion from its offer of Treasury bills (T-bills) on Monday, as yields sought by banks slid across the board as investors preferred shorter-termed instruments.
— BusinessWorld Online

Peso inches up against dollar amid quiet trade
THE PESO inched up against the dollar on Monday, as traders await the next move of North Korea amid rising tensions with the United States.
— BusinessWorld Online

Spending data point to 6.5% GDP growth in Q3, ING says
GROWTH likely hit 6.5% during the third quarter, an analyst at a global bank said, citing the milder-than-expected pickup in government spending observed in August which is thought to be unlikely to provide an even bigger boost to growth.
— BusinessWorld Online

Government sets P150-B borrowings in Q4
The government is set to borrow P150 billion through the issuance of Treasury bills and Treasury bonds in the fourth quarter, according to the Bureau of the Treasury (BTr).
— The Philippine Star

Diesel prices up
Local pump prices of diesel rose today while those of gasoline were unchanged for the second straight week as developed countries saw oil demand outpacing global supply in the third quarter.
— Philippine Daily Inquirer

PXP Energy surges nearly 30% as investors bet on China deal
It was all about energy at the Philippine Stock Exchange Monday with PXP Energy and energy development dominating trade.
— ABS-CBN (video)

Toyota financing hits P58.7b
Toyota Financial Services Philippines Corp., a part of Toyota’s network of sales finance companies, said total assets jumped 30 percent to P58.7 billion in the fiscal year ending March 2017 from P45.3 billion a year ago.
— Manilastandard.net

San Miguel interested in $1-b AES power plants
Conglomerate San Miguel Corp. expressed interest in the power assets of American company AES Corp. in the Philippines worth $1 billion, a top executive said Monday.
— Manilastandard.net

TRAIN should get off ground by Jan
The Department of Finance (DOF) is hoping the Tax Reform for Acceleration and Inclusion Act (TRAIN) will be ready for implementation by January 1 next year.
— Malaya

Waterfront board OKs use of P1.5-B credit line
HOTEL and leisure investment holding firm Waterfront Philippines Inc.’s board has approved the use of a P1.5-billion credit line from the Philippine Bank of Communications (PBCOM), which will be secured by various assets of the company and its subsidiaries.
— The Manila Times

CA stops 5 new dismissal orders vs Cagayan de Oro mayor
The Court of Appeals (CA) in Cagayan de Oro has issued a 60-day temporary restraining order (TRO) on 5 new dismissal orders against Cagayan de Oro City Mayor Oscar Moreno.
— Rappler

Philippines Interest Rate Unchanged: ETFs in Focus
The Philippines central bank left its benchmark interest rate intact at 3%, in line with market expectations. The premier banking authority expects inflation to average 3.2% this year and the next, which is within their target band of 2-4%.
— Nasdaq

Hotline for human rights abuses in Mindanao launched
A group of lawyers and paralegals from at least 18 organizations founded a new group to monitor human rights abuses in Mindanao.
— Davao Today

Northern Mindanao posts hike in investments
NEW investments generated in Northern Mindanao region has increased to P4.6 billion for the second quarter of 2017 compared to the P3.6 billion posted on the second quarter last year.
— Sun Star

Feature photo Adam Cohn
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 26 added by Stella-maris Ewudolu on September 26, 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.