Philippines morning news for August 24

Philippines morning news for August 24
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Philippines morning newsUS warns of floating nuclear reactors: Malacañang frets about weapons
President Duterte’s spokesman has expressed concern about China’s possible deployment of nuclear weapons in the South China Sea.
— Philippines Lifestyle

China lifts tourist arrivals by 9.7% in January-July 2018
FOREIGN tourists continue to make their way to the Philippines, boosting inbound arrivals by 9.74 percent to some 4.31 million from January to July 2018.
— Philippines Magazine

P23B allotted for 3.8M indigent seniors in ’19
The budget allocated for the social pension of nearly 3.8 million indigent senior citizens will increase by 21 percent next year, the Department of Budget and Management (DBM) said.
— Malaya

P1.4-billion ‘GG’ import a band-aid solution to rising fish price–Atienza
A band-aid solution. A poor supply side intervention.
— Business Mirror

P4.8B disbursed in H1 for socialized housing
Pag-IBIG Fund disbursed P4.859 billion in socialized housing loans from January to June this year, benefitting 12,639 low wage earners.
— Malaya

Despite Rody’s tough talk on China, oil hunt in pipeline
Negotiations with China for joint exploration of the West Philippine Sea will proceed despite President Rodrigo Duterte’s warning that war would ensue if China decides to exploit the natural resources of the contested waters on its own, the Palace said Thursday.

Cebu Pacific opens 4th set of ‘study now, pay later’ cadet pilot plan
Applications for local carrier Cebu Pacific’s (CEB) Cadet Pilot Program is now open for the fourth batch.
— Philippine News Agency

PH offers aid to Lombok quake victims
The Philippine government is ready to assist Indonesia in the wake of the earthquakes that have struck the island-province of Lombok, the Department of Foreign Affairs (DFA) said Thursday.
— Philippine News Agency

BPI sets investor meetings in Hong Kong, Singapore for $2 billion offshore borrowing
Ayala-led Bank of the Philippine Islands (BPI) is holding a series of meetings with fixed income investors in Hong Kong and Singapore starting today as part of its plan to raise $2 billion from the offshore debt market.
— The Philippine Star

Palawan theme park proponent sets up P2-B fund to save reefs
A company that had indicated plans to develop a controversial water-themed tourist attraction in Palawan province, announced recently that it started a P2-billion marine conservation program for the tourist town of Coron, saying it would address threats of oil spill in the area.
— Philippine Daily Inquirer

JICA hands over 2 vessels to PCG in support of PH maritime security
The Japan International Cooperation Agency (JICA) handed over yesterday the last two of the ten 44-meter multi-role response vessels (MRRVs) to the Philippine Coast Guard (PCG) as part of its support to Philippine maritime safety and security.
— Manila Bulletin

Seven SC justices in Sereno ouster face impeach raps
Opposition lawmakers led by Albay Rep. Edcel Lagman on Thursday filed impeachment complaints against seven Supreme Court justices who voted to unseat Chief Justice Maria Lourdes Sereno.

Russia, S. Korea among top candidates for PH submarine project
Russia and South Korea are among the top candidates to supply diesel-electric submarines to the Philippines, Defense Secretary Delfin Lorenzana said late Wednesday.
— Philippine News Agency

Government share in Malampaya project reaches $10-B mark
Power rates in Luzon may soon go up once the natural gas supply in Malampaya begins to deplete, while an oil firm wants to explore the gas field further.
— ABS-CBN (video)

Import cover ‘OK’ amid 6-year GIR low
WEAK exports and the decline in remittances have caused the country’s gross international reserves (GIR) to fall to a six-year low, but economists said the Philippines has enough import cover.
— Business Mirror

Duterte declines U.S. offer to sell F-16 jets to the Philippines
President Rodrigo Duterte is saying no thanks to the United States’ offer to sell F-16 jets to the Philippines.
— CNN Philippines

Lorenzana: Russian submarines expensive
DEFENSE Secretary Delfin Lorenzana yesterday said Russian-made submarines are expensive and government may opt to buy “more affordable” submarines from other sources.
— Malaya

Embassies in SG, Egypt offer certification to returning OFWs after NAIA mishap
The Philippine Embassies in Singapore and in Cairo, Egypt are calling on overseas Filipino workers (OFW) affected by the runway incident at Ninoy Aquino International Airport (NAIA) to communicate with them in case they needed a certification for their employers upon their return to their host countries.
— UNTV News

5 local, 7 foreign firms eyeing Philippines’ third telco slot
At least five local and seven foreign companies are interested in filling the country’s need for a third telecommunications network provider, the Department of Information and Communications Technology (DICT) said Thursday.
— GMA News

Net inflow in ‘hot money’ posted as of August 10
The inflow of foreign portfolio investments, also called “hot money” because they can come in and out of an economy, remain in positive territory as of the second week of August 2018.
— Philippine News Agency

TESDA confirms 10K ‘ghost’ studes
THE Technical Educational Skills and Development Authority (TESDA) has shut down 175 of its training institutions suspected to be “ghost centers” and has reshuffled its regional and district directors to stop the anomalous scheme.
— Malaya

The re-emerging threat of measles
Last week, the World Health Organisation (WHO) released data showing that over 41,000 children and adults in Europe have been infected with measles in the first six months of 2018, resulting in 37 deaths.
— The Asean Post

Lawyer handling drug cases slain in Bacolod City
A lawyer handling drug cases was gunned down in Bacolod City yesterday.
— The Philippine Star

Equity crowdfunding: It’s here
The world, certainly, has not stood still since I began advocating the adoption of equity crowdfunding rules in the Philippines in 2013.
— Philippine Daily Inquirer

Gov’t readies Boracay Island’s reopening
As the six-month closure-rehabilitation of the top tourist destination has come to a homestretch, government preparations for the reopening of Boracay Island in October are in full blast.
— Philippine News Agency

Groundbreaking for $3.7-billion Makati subway expected by end of 2018 — Binay
THE PROPOSED $3.7-billion subway in the country’s financial district may break ground by the end of 2018, the Makati City government said.
— BusinessWorld Online

PH growth forecast cut on widening budget, trade deficits
Barcelona-based economic analysis provider FocusEconomics has slightly cut its 2018 growth forecast for the Philippines to 6.6 percent due to widening budget and trade deficits as well as the potential impact of the global trade war.
— Philippine Daily Inquirer

Avail of gov’t aid, DOLE urges 4K Boracay workers
The Department of Labor and Employment (DOLE) urged around 4,000 regular workers in Boracay affected by the six-month closure of the island to avail of the assistance being provided by the government.
— Philippine News Agency

Indonesia to build hospitals, schools in PHL
Indonesian Ambassador Sinyo Harry Sarundajang said his country would construct schools and hospitals in the country as he also disclosed Indonesia’s intent to participate in the reconstruction of war-damaged Marawi City.
— Business Mirror

Race for speed
As the government entices a third telecom operator, the country’s two major telcos, Globe Telecom Inc. and Smart Communications Inc., continue to build out their 4G services, extending their Long-Term Evolution (LTE) reach to boost mobile broadband speed, independent mobile analytics company OpenSignal said.
— Malaya

P8.8-B fake goods seized in H1 exceed 2017 haul
The government has seized a total P8.8 billion worth of counterfeit items in the first half of 2018 which already breached the P8.2-billion haul in the entire of 2017.
— Manila Bulletin

Philippines remains at risk from capital outflows — Moody’s
Moody’s Investors Service said emerging markets, including the Philippines, remain inherently vulnerable to the risk of capital outflows associated with tightening global liquidity.
— The Philippine Star

Philippines commissions 2 more patrol ships from Japan
The Philippines commissioned into service two more Japan-made patrol ships on Thursday, the final batch of a 10-ship supply contract worth tens of millions of dollars.

UN urges PH to remove human rights defenders from terror list
The United Nations (UN) is urging the Philippine government to untag human rights defenders as terrorists.
— CNN Philippines

3 Filipinos die in Hajj pilgrimage: DFA
The Department of Foreign Affairs (DFA) on Wednesday reported that three Filipino pilgrims have died since the Hajj season started.
— Northbound 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.


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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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