Philippines morning news for August 15

Philippines morning news for August 15

Philippines morning newsUS turns over P807-M surveillance, reconnaissance system to Air Force
The United States government turned over an P807-million
surveillance and reconnaissance system for the C-130 Hercules aircraft to the Philippine Air Force at Villamor Air Base in Pasay City on Tuesday.
— GMA News

Duterte: ‘I’m thinking of stepping down’
President Rodrigo Duterte on Tuesday said he was thinking of stepping down from power.

DoF: Deficit could hit 6.7% of GDP
The government’s budget deficit could surpass that posted during the 2007-2008 financial crisis if fiscal provisions under the draft federal constitution are adopted, a senior Finance department official said.
— The Manila Times

Footage shows volunteers struggling to stop waves of garbage washing ashore in Manila Bay
Student volunteers who set out to clean up Manila’s waterfront found themselves being battered by waves of rubbish driven ashore by heavy seas in Manila Bay.
— ABC News (video)

EO prescribes uniform real property tax rates for power projects
A new Executive Order (EO) issued by President Rodrigo R. Duterte renders a uniform assessment rate on real property taxes (RPT) to be levied to power plant projects; while also condoning interest charges on unsettled real property taxes of project developers.
—  Manila Bulletin

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Philippines’ House lifts import cap on rice, approves tariff system
The Philippines’ House of Representatives on Tuesday approved a bill that seeks to replace the import limit on rice with tariffs, a measure that may boost the country’s purchases of the staple food.
— Reuters/ Nasdaq

Mindanao farmers hit hard by rising inflation
Aside from the elevated prices of farm supplies, the still incurable inflation is also hitting farmers below the belt, especially ones in Mindanao.
— ABS-CBN (video)

DoF says 7.7% GDP expansion this semester ‘still possible’
A BLISTERING 7.7% gross domestic product (GDP) expansion this semester — needed for the economy to hit the bottom of an official full-year target for 2018 — may still be “possible” on the back of strong capital formation, according to a senior official of the Department of Finance (DoF).
— BusinessWorld Online

The state of PH TB
TUBERCULOSIS (TB) is a more notorious global infectious disease than the acquired immunodeficiency syndrome (Aids).
— Sun Star

Duterte to be first PH president in Israel
President Rodrigo Duterte will visit Israel, the first Philippine President to do so, from Sept. 2 to 5.
— Philippine Daily Inquirer

Teo, Tulfos firm in not returning controversial P60M tourism ad money
iblings Wanda Teo, Ben, and Erwin Tulfo came under fire Tuesday as lawmakers grilled them over the P60-million in tourism advertisements aired on the brothers’ show “Kilos Pronto.”

HSBC to roll out more digital services for firms
THE HONG KONG and Shanghai Banking Corp. (HSBC) is looking to roll out more mobile services to corporate clients in the Philippines over the coming year, following a jump in its credit card business secured through digital platforms.
— BusinessWorld Online

Agri sector ripe for picking in APAC
Rising incomes and populations in the Asia Pacific region mean greater demand for agricultural products – and that typically means more merger and acquisition activity in the sector.
— BlueNotes

Foreign investments still pouring into the Philippines
Foreign direct investments (FDI) continued to surge into the Philippines for the January-May 2018 period, with registered net inflows hitting $4.8 billion, or a growth of 49 per cent from the comparable period in 2017, the Bangko Sentral ng Pilipinas (BSP) said.
— The Phnom Penh Post

House panel approves substitute bill on Islamic banking
The House Committee on Banks and Financial Intermediaries on Tuesday approved a substitute bill that seeks to regulate and organize Islamic banks and attract investments in the country’s banking sector.
— Business mirror

Davao City approves P1-million aid to flood-stricken Marikina
The Davao City government will extend financial aid of P1 million to Marikina City, its sister city, which was severely hit by flooding caused by heavy rainfall due to the southwest monsoon aggravated by Tropical Storm Karding last week.

House panels clear Noy on Dengvaxia
Two committees of the House of Representatives are clearing former president Benigno Aquino III on the dengue vaccination program in 2016 and the use of the controversial vaccine Dengvaxia.
— The Philippine Star

$100,000 at stake for winner of Globe ‘League of Legends’ tourney
Globe is creating noise for Philippine eSports, putting a total of $250,000 up for grabs at the inaugural Conquerors Manila League of Legends (LoL) tournament to be held in the Mall of Asia Arena on Saturday, August 18 and Sunday, August 19.
— Rappler

The problem with federalism — It’s the politicians, stupid!
IF the structure of the Philippine government is supposed to have been patterned after that of the United States, why wasn’t the federal system of America also applied to the Philippines?
— BusinessWorld Online

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Sara hands over P500K to Quezon City for flooding aid
Davao City Mayor Sara Duterte has handed over P500,000 to Quezon City Vice Mayor Joy Belmonte to aid in the city’s relief operations for flood victims.

DepEd to probe loss of textbooks worth P25M
The Department of Education (DepEd) will look into the loss of P25.2 million in books which the Commission on Audit (COA) flagged in a recent report.
— Philippine Daily Inquirer

Philippines considers Russian loan to support submarine procurement
Russia has newly offered the Philippines an economic package to support its potential acquisition of Kilo-class submarines, Arsenio Andolong, the chief of public affairs at the Philippine Department of National Defense (DND), told Jane’s on 14 August.
— IHS Jane’s 360

More Southeast Asian Voices Emerge in Second Docs by the Sea
Workshop and pitching forum for South East Asia-based documentary filmmakers, Docs by the Sea, returned to Bali last week.
— Jakarta Globe

Duterte defies China over threats
Philippine President Rodrigo Duterte said China’s claim to airspace above its occupied South China Sea islands was wrong and could become a “flashpoint” for conflict.
— Asean Economist

BanKo launches Cubao branch for SEME financial solutions
BPI Direct BanKo (BanKo), the microfinance subsidiary of the Bank of the Philippine Islands (BPI), officially opened the doors of its Cubao branch on August 13.
— Business mirror

Tourist pushers use banks, FB to sell illegal drugs: Baguio cops
The Baguio City Police Office (BCPO) has revealed that sellers of illegal drugs in the city who come from other places use “bank-to-bank” transactions in getting payments.
— Northbound Philippines

Banning provincial bus on EDSA starts Wednesday
The Metropolitan Manila Development Authority (MMDA) will start implementing its provincial bus ban on portions of EDSA on Wednesday.
— CNN Philippines

Digital currency trading platform established in the Philippines
Aimed to be a currency trading platform that provides users with safe and compliant digital asset financial services, the Huibi Exchange was launched at a press conference held at the Manila Marriott Hotel in Pasay City last August 12.
— The Philippine Star

Use local disaster fund to build evacuation centers, LGUs urged
The Department of the Interior and Local Government (DILG) is urging local government units (LGUs) to prioritize, using a portion of 70% of their respective local disaster risk reduction and management fund (LDRRMF), the construction or upgrading of evacuation facilities in their areas.
— Philippine News Agency

First consignment of Northern Irish beef lands in the Philippines
The first consignment of Northern Irish beef under the new trade agreement has arrived in the Philippines and is now on sale.
— Agriland

House wants to extend validity of Martial Law victims’ compensation
The House of Representatives approved on second reading a joint resolution seeking to extend the validity of funds for the reparation of Martial Law victims to December 31, 2019.
— Rappler

AEV, Ayala submit unsolicited proposal for national ID system
A CONSORTIUM which includes the Ayala and Aboitiz groups submitted to the government an unsolicited proposal for the design and development of the national identification (ID) system.
— BusinessWorld Online

SSS offers loan assistance to 3 typhoons, habagat victims
The state-run Social Security System (SSS) on Tuesday said it allocated more than P863 million for a relief assistance program, which is now available to its members and pensioners affected by the massive flooding brought by the Southwest Monsoon enhanced by typhoons Henry, Inday and Josie last July.
— Reliefweb

Land transport modernization and the bureaucracy
UNTIL five years ago, the Philippines had the lowest registered vehicles ratio per population in the whole of North and Southeast Asia.
— BusinessWorld Online

The people left behind by Philippines’ brutal war on drugs – photo essay
One year after visiting the Philippines to document the impact of President Rodrigo Duterte’s crackdown on drugs, photographer James Whitlow Delano returns to the city of Navotas, Metro Manila, to assess the impact of a campaign that has now claimed up to 20,000 lives.
— The Guardian

EU-Philippines Business Summit 2018 announced
The EU-Philippines Business Network (EPBN) is organizing the EU-Philippines Business Summit 2018 with the theme ‘EU and the Philippines: Jointly Pursuing Competitiveness for Inclusive Growth’ on 18 October 2018, at Solaire Resort and Hotel.

Banana exports to Japan up by 7% from January to May 2018
Banana exports from the Philippines to Japan reached 679,967 metric tons from January to May 2018, growing 7% from 634,191 MT recorded during the same period last year.
— Minda News

DOT to reestablish PH as top international convention destination
Tourism Secretary Bernadette Romulo-Puyat said that her department seeks to reestablish the Philippines as a top international destination for meetings, incentives, conventions, and exhibitions (MICE).
— Manila Bulletin


Feature photo Peter Rowley


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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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.

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