Philippines Morning News For August 23

Watch Airbus build & deliver Philippine Airlines’ first A350-900 (HD video)
Philippines national flag carrier Philippine Airlines (PAL) has added two new aircraft, the first of six Airbus A350-900s and 21 Airbus A321neos, to its fleet to boost passenger capacity and further its aim of becoming a five-star world-class airline by 2020.
— AEC News Today (video)

Tax reform to add P268B to state coffers yearly
The Duterte administration’s comprehensive tax reform program is expected to generate P268.3 billion in additional revenue yearly to finance massive infrastructure projects in the pipeline.
— Philippine Daily Inquirer

Philippines urged to tap $1-billion Indian loan facility for ‘BBB’ projects
THE Philippines should consider tapping India’s $1-billion loan allocation for Southeast Asian countries aiming to put up big-ticket public infrastructure, Indian Ambassador to the Philippines Jaideep Mazumdar said on Wednesday.
— Business Mirror

DBM releases P2.29B for Marawi residents
To help displaced Marawi residents gain livelihood, the Department of Budget and Management has released P2.29 billion to the Department of Social Welfare and Management under funds earmarked for the rehabilitation and reconstruction of the war-torn city.
— Philippine Daily Inquirer

Govt posts P86.4-B budget deficit in July
The government incurred a wider budget deficit in July as state spending grew faster than revenues, Treasury bureau data showed on Wednesday.
— The Manila Times

MSMEs generate P400-M sales in gov’t trade fair
Micro, small, and medium enterprises (MSMEs) have generated about PHP400 million in sales and orders from trade shows initiated by the Department of Trade and Industry (DTI), the agency’s top official said Wednesday.
— Philippine News Agency

CAAP: Xiamen Air black box to be sent abroad
The black box and flight data recorder of the Xiamen Air passenger aircraft that figured in a mishap at the Ninoy Aquino International Airport last week would be taken to either Japan or Singapore for examination, the Civil Aviation Authority of the Philippines (CAAP) said.
— The Philippine Star

Trudeau mocked by Philippines’ Duterte for delaying chopper deal, wanting peace
Philippine President Rodrigo Duterte slammed his Canadian counterpart Justin Trudeau on Tuesday for what he said were “delays” in a $233 million deal for “attack helicopters”.
— Global News (video)

Russia willing to provide brand new military equipment to PHL —envoy
As the Philippines and Russia strengthen their military ties, Ambassador to Moscow Carlos Sorreta on Wednesday said Kremlin is willing to provide “brand new” equipment that could better fit the Philippine defense’s battle plans and tactics.
— GMA News

‘Don’t monopolize resources in West Philippine Sea, or there’ll be war’
AFTER giving his top diplomat the go-ahead to proceed with talks with Beijing on a possible joint exploration agreement in the West Philippine Sea, President Duterte threatened war against China if it unilaterally struck oil and uranium in the resource-rich waters.
— Business Mirror

Single mom crowned 2018 Miss Global Philippines
Mary Eileen Palencia Gonzales (center) was crowned 2018 Miss Global Philippines by outgoing queen Mary Ann Mungcal recently at Cove Manila in Okada.
— The Philippine Star

Cash aid given to 86 OFWs who failed to leave for their jobs abroad during NAIA runway mishap
A total of 86 overseas Filipino workers who failed to leave for their jobs abroad as a result of the Xiamen Air plane mishap at the Ninoy Aquino International Airport (NAIA) were given P5,000 each as financial dole-out, the foreign affairs office said on Wednesday.
— Manila Bulletin

Philippine car production fell 44.3% in June
Automotive production fell 44.3 percent in June from a year ago, data from the Asean Automotive Federation show.
— Manilastandard.net

PH bows to China for first loss in men’s basketball
A thrilling showdown between the Philippines and China in men’s basketball at the Asian Games.
— CNN Philippines

15 Filipino fishermen repatriated from Indonesia
The Philippine DFA said the fishermen were released to officials of the Consulate General after serving jail terms of from five months to three years after they were arrested for illegal fishing.
— Xinhua

Leptospirosis cases in Metro Manila up
The number of leptospirosis cases in Metro Manila increased by over 300 percent amid monsoon rains that caused flooding, the Department of Health (DOH) reported yesterday.
— The Philippine Star

Saudi OFWs group donate 13 computer sets to Bacolod City library
The Philippine-Saudi Arabia Hiligaynon, Inc. (PINAS-SAHI) has donated 13 personal computer sets and two printer units for the digital literacy program of the Bacolod City Public Library.
— Philippine News Agency

PNP validating alleged CIA plot to kill Duterte
The Philippine National Police said on Wednesday they are validating President Rodrigo Duterte’s statement the United States’ Central Intelligence Agency (CIA) is out to get him.
— CNN Philippines

TDF rates increase anew but demand wanes
Auction demand for the central bank’s term deposit facility (TDF) dropped this week while the weighted average accepted yields continue its rise across all tenors.
— Manila Bulletin

Banks’ bad debts grow slightly as of end-June
BAD DEBTS held by big banks increased slightly as of end-June, even as they accounted for a smaller share of total loans amid a growing portfolio, according to latest available central bank data.
— BusinessWorld Online

San Miguel food unit selling P142-billion worth of shares
San Miguel Food and Beverage Inc. plans to raise P142.8 billion from the sale of up to 1.02 billion secondary shares before the end of the year, sources said Wednesday.
— Manilastandard.net

Death by Importation, a PH’s Hunger Game
Earlier this week, Zamboanga city declared a state of calamity due to rice shortage amidst importation. Prices of rice in Zamboanga reached as high as P70 per kilo, leaving consumers especially the poor majority in a disadvantageous position.
— Davao Today

Duterte: Govt ready to ‘bomb’ Reds
President Rodrigo Duterte has threatened to “bomb” communist rebels if they mount another “large-scale war” in Mindanao.
— The Manila Times

DOE mulls scrapping of biofuels mandate
Having been apprised by industry players that this could yield bigger cost reduction to consumer-motorists, the Department of Energy (DOE) said it will be studying the propounded scrapping of the biofuels mandate to fuel products.
— Manila Bulletin

DOLE asks CA to reverse decision vs worker regularization in PLDT
The Department of Labor and Employment (DOLE) asked the Court of Appeals (CA) on Wednesday, August 22 to reverse its July 31 ruling, which effectively voided the regularization order to PLDT Incorporated.
— Rappler

Asian Games: PH adds another medal as Divine Wally settles wushu bronze
Divine Wally handed the Philippines its fifth bronze medal in the 2018 Asian Games in Indonesia.
— CNN Philippines

Feature photo Stefan Munder

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 August 23 added by Stella-maris Ewudolu on August 23, 2018
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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.