Philippines Morning News For August 30

House panel approves OVP’s P447.68-M budget for 2019
The House of Representatives’ appropriations committee on Wednesday approved the PHP447.68 million budget of the Office of the Vice President (OVP) for 2019.
— Philippine News Agency

PH, China to sign 10 loan deals
The government is eyeing to sign at least 10 loan agreements with China when Chinese President Xi Jinping visits the country in November, according to Benjamin Diokno, secretary of the Department of Budget and Management.
— Malaya

Most popular YouTube video commercial digs deep into Filipinos’ hearts and past
The Sharon Cuneta-Gabby Concepcion love team from the ’80s is back in people’s hearts after an online commercial of them has emerged as the most popular YouTube video advertisement in the Philippines for the first half of 2018.
— InterAksyon (video)

BPI raises $600M from senior notes
BANK OF THE Philippine Islands (BPI) raised $600 million through a senior unsecured note drawdown to maximize flexibility in offshore funding and diversify its liquidity sources.
— BusinessWorld Online

Senate ratifies P105B coco levy fund
The Senate has ratified the bicameral conference committee report on the measure establishing the P105-billion coco levy fund.
— Manila Bulletin

Consider the US in ‘Build, build, build’ program, PH urged
The Philippines should see the United States as a “very positive alternative” in helping meet the country’s infrastructure needs, a US official said.
— Philippine Daily Inquirer

Palace supports ‘option’ to extend martial law in Mindanao after Isulan blast
Executive Secretary Salvador C. Medialdea on Wednesday said the government is considering the extension of martial law in Mindanao following a deadly explosion in Sultan Kudarat.
— Business Mirror

NFA chief accused of diverting P5.1-billion fund
The president of the Samahan ng Industriyang Agrikultura (SINAG) filed graft charges yesterday against National Food Authority (NFA) administrator Jason Aquino and another official for allegedly diverting the agency’s P5.1-billion fund intended to stabilize price and supply of rice and corn.
— The Philippine Star

Philippines channels India with ID system
Mayalyn Magracia is one of millions of undocumented Filipinos.
— The Asean Post

Labor Market Trends in the Philippines
The Philippines is among Asia’s premier labor markets. The country houses a large and growing young population with a median age of 23, a vital demographic advantage that can be leveraged with proper investments in education and infrastructure.
— Asean Briefing

PH gets bulk of US security funding to Southeast Asia
The Philippines will be getting the largest chunk from the USD300-million security funding of the United States to Southeast Asia, a senior official from the State Department revealed Wednesday.
— PTV News

DOTr expects to seal China loan for P151-billion South rail
The Department of Transportation said it expects to obtain a loan from China this year for the P151-billion Philippine National Railways South Long-haul project.
— Manilastandard.net

BTr awards full P15 billion as appetite for 3-year T-bonds is sustained
THE Bureau of the Treasury (BTr) has awarded the full P15 billion on offer for the re-issued three-year Treasury bond (T-bond) during its auction on Wednesday, with the auction committee seeing sustained market appetite for the three-year security.
— Business Mirror

Philippines to fine Xiamen Air P33 million
The government will demand from Xiamen Air at least P33 million in fines for the inconvenience caused by the accident involving its jet last Aug. 16 that delayed flights and stranded thousands of passengers at the Ninoy Aquino International Airport (NAIA).
— The Philippine Star

Agri, NFA chiefs told to resign
LEADERS of the House minority bloc on Wednesday called on Agriculture Secretary Emmanuel Piñol, National Food Authority (NFA) Administrator Jason Aquino and officials of the NFA Council to resign, citing their failure to address the rice shortage that has jacked up retail prices.
— The Manila Times

Senate approves Filipino Sign Language bill
The Senate on Tuesday passed on third and final reading a bill declaring the Filipino Sign Language (FSL) as an official medium of instruction and mode of communications in educating deaf people in the country.
— Philippine News Agency

TDF yields climb after central bank’s rate hike
YIELDS FETCHED for term deposits moved higher this week, in line with the central bank’s expectations, following an aggressive rate hike which took effect early this month.
— BusinessWorld Online

House votes to extend validity of reparation funds for victims of Marcos regime
The House of Representatives on Wednesday approved on third and final reading a measure that seeks to extend until December 31, 2019 the period of availability of funds intended for victims of human rights violations during the Marcos regime.
— GMA News

Jolo fire victims gain P3.8m in assistance from regional neighbors
The local government has finished paying out P1,000 to each of the 3,848 households affected by the nine-hour fire that gutted homes in the barangays of Walled City and Busbus last July 24.
— Manilastandard.net

CTA rulings favoring taxpayers worth P6.23B in 2017 — SC
THE Court of Tax Appeals (CTA) ruled in favor of taxpayers in disputed tax cases worth over P6.2 billion in 2017, the Supreme Court said.
— BusinessWorld Online

NFA open to legalizing rice smugglers’ operations
The National Food Authority (NFA) Council is considering the proposal of the Department of Agriculture (DA) to legalize the operations of traders currently engaged in rice smuggling in the Zamboanga-Basilan-Sulu-Tawi-Tawi (Zambasulta) area.
— The Philippine Star

PHilMech to set up reg’l technology centers for farmers nationwide
The Philippine Center for Postharvest Development and Mechanization (PHilMech) will establish Regional Technology Management and Demonstration Centers (RTMDCs) that will help spearhead the agency’s efforts to commercialize its technologies and offer training to farmers, who are completely or relatively new to agricultural mechanization.
— Philippine News Agency

Philippines to seek UN aid for free Wi-Fi program
The Philippines government will seek aid from the United Nations Development Program (UNDP) to help support its goal of setting up a national free Wi-Fi network for public establishments including schools, public parks and government buildings.
— Telecomasia.net

SMFB sets global roadshows for P142.8-billion share sale
San Miguel Food and Beverage Inc. (SMFB), the newly consolidated food and beverage subsidiary of San Miguel Corp. has embarked on a global roadshow for its share sale which is expected to raise up to P142.8 billion.
— The Philippine Star

QC ups cinema fees by P1 for Boy Scouts fund
QUEZON City Mayor Herbert Bautista has approved a measure for a P1 increase on admission fees in cinemas for the benefit of the Boy Scouts of the Philippines and National Scouting Month in October.
— Manilastandard.net

Aboitiz, Tesda to put up P6-M business training center
The Aboitiz Group, through the Aboitiz Foundation and food business unit Pilmico, has partnered with the Technical Education and Skills Authority (Tesda) Women’s Center to put up a P6-million business innovation center at the Tesda Compound in Taguig City.
— The Manila Times

Record number of PH students get UK Chevening scholarships
The Inquirer’s digital content editor, Sara Isabelle Pacia, heads a record-breaking number of Filipinos who have been awarded the prestigious Chevening Scholarships by the British government to pursue postgraduate degrees in the United Kingdom.
— Philippine Daily Inquirer

Asian Games: Philippines bows to China, out of medal contention in volleyball
The Philippines put up a gallant fight but still proved no match for mighty China in the women’s volleyball competition of the 2018 Asian Games on Wednesday night.
— ABS-CBN

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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 30 added by Stella-maris Ewudolu on August 30, 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.