Philippines morning news for August 7

Philippines morning news for August 7
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Philippines morning newsGov’t mulls subsidy to $3.5-billion planned Chinese steel plant project
The government is preparing a special subsidy in the form of lower land lease and power rate to Panhua Group, China’s leading integrated steel producer and exporter to the US, which is seriously considering of investing $3.5 billion for an integrated steel manufacturing plant in Mindanao.
— Manila Bulletin

Philippines government is planning to build a US$100M crypto hub in the country
Philippines’ Cagayan Special Economic Zone and Freeport (CSEZFP)is set to see the launch of a new fintech and crypto hub; as part of the government’s bid to foster a fintech ecosystem attract international blockchain companies to set up shop in the country.
— e27

Gov’t to hold job fair for ‘Build, Build, Build’ projects
Thousands of job vacancies in the construction sector may be filled on Sunday, Aug. 12, when government stages its own job fair dubbed Jobs Jobs Jobs Caravan.
— Philippine News Agency

Iris scan, fingerprints must for new Filipino ID system
Philippine President Rodrigo Duterte has signed the Philippine ID System Law, a long-awaited measure that aims to provide a nationwide database of all Filipinos and a card that would greatly ease their transactions with the government.
— Gulf News (video)

Meralco, DoTr allot P14.155 billion to relocate 10,342 electric posts
THE Manila Electric Co. (Meralco) and the Department of Transportation (DoTr) are allocating P14.155 billion to relocate 10,342 electric posts to give way for the government’s various infrastructure projects.
— Business Mirror

NEDA approves restructuring of P13.5-billion projects
The Investment Coordination Committee – Cabinet Committee (ICC-CabCom) of the National Economic and Development Authority (NEDA) has approved P13.5 billion worth of improvements to three regional projects.
— The Philippine Star

PAF allots P24-M for spare parts of 2 light-lift aircraft
The Philippine Air Force (PAF), through its Bids and Awards Committee, has allocated the sum of PHP24 million for the acquisition of spare parts for its two PT Dirgantara NC212i light-lift fixed wing aircraft.
— Philippine News Agency

Philippines could lose South Korea as banana export destination
As the government fails to convince Seoul to reduce its export tariff on Philippines’ agriculture commodities, a group of businessmen fear the country could lose South Korea as a top export destination for locally produced bananas three years from now.
— Fresh Plaza

Comelec may need P6-8 billion for federalism plebiscite
The Commission on Elections (Comelec) may need P6 billion to 8 billion for a plebiscite on the Philippines’ proposed federal constitution, Comelec Chairman Sheriff Abas said on Monday, August 6.
— Rappler

P105 billion for 3 million farmers under Coco Levy Bill
Some 3 million coconut farmers can finally benefit from P105 billion in tax collections that were earmarked for them under new legislation that awaits President Rodrigo Duterte’s signature, an official said Monday.

Philippines to Send Frigate to Libya to Rescue Kidnapped Workers
The Philippine Navy was preparing on Monday to deploy a frigate to Libya to help in search and rescue operations for three Filipino workers and a South Korean national who were kidnapped a month ago.
— Latin American Herald Tribune

Philippines could lose South Korea as banana export destination
As the government fails to convince Seoul to reduce its export tariff on Philippines’ agriculture commodities, a group of businessmen fear the country could lose South Korea as a top export destination for locally produced bananas three years from now.
— Fresh Plaza

PH eSports teams bag $77,714 prize at Mobile Legends Southeast Asia Cup
Filipino eSports teams were able to take home $77,714 (₱4,136,327) in prize money at the Mobile Legends Southeast Asia Cup (MSC) 2018 at the Jakarta International Expo on July 29, 2018.

Private hospitals warn TRAIN 2 will jack up medical bills
Private hospitals expressed concern over the second tranche of the Tax Reform for Acceleration and Inclusion (TRAIN) law, even warning that some hospitals could close because of the proposal.
— Rappler

Philippines kicks out over 2,000 corrupt policemen from force
The Philippine National Police (PNP) has dismissed a total of 2,181 rogue police officers from the force since President Rodrigo Duterte took office in June, 2016, presidential spokesman Harry Roque said on Monday.
— Xinhua

NPC assures public data privacy top priority in national ID system
The National Privacy Commission on Monday, August 6, assured Filipinos the protection of their data privacy rights is a top priority in the implementation of the national ID system.
— Rappler

Amnesty program up for 100,000 OFWs
The Department of Labor and Employment has urged over 100,000 distressed and overstaying overseas Filipino workers in the United Arab Emirates to avail themselves of the three-month amnesty program offered by the Gulf state government.

PLDT secures favorable CA ruling over DOLE regularization orders
The Court of Appeals has ruled in favor of PLDT Inc. after the company questioned the regularization orders by the Department of Labor and Employment (DOLE), the telco giant said yesterday.
— The Philippine Star

PAF to receive 4 OV-10 aircraft from US
Defense Secretary Delfin Lorenzana Monday said that that the Philippine Air Force (PAF) is expected to receive soon four OV-10 aircraft from the United States to further boost their air assets.
— Manila Bulletin

645 firms still getting tax perks after 15 years
The Department of Finance (DOF) has identified a total of 645 registered enterprises that continue to receive tax incentives even after 15 years in the business, proving that investment perks usually given to big or multinational firms — many of them are “inherently profitable” — have become redundant and unnecessary.
— Philippine Canadian Inquirer

The fight against diabetes continues
Despite of advancements in medical treatments and technology, diabetes remains a prevalent chronic disease that afflicts a huge number of Filipinos.

Fishers hit plan for ‘unli’ rice, fish imports
THE Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) on Monday slammed the proposal of former President and now Speaker Gloria Macapagal-Arroyo and the Duterte administration’s economic managers to allow what it described as “unli” or unlimited rice and fish importation through the lifting of the quantitative restriction on rice and the imposition of zero tariffs on imported fish.
— Business Mirror

Trans-Asia to spend P2B for vessels
CEBU-BASED Trans-Asia Shipping Lines Inc. has earmarked P2 billion for the acquisition and rehabilitation of new and existing vessels.
— Sun Star

Manila Thermal Power site to be auctioned next week
THE Power Sector Assets and Liabilities Management Corp. (PSALM) has scheduled for next week an auction for the 20,975 square-meter former site of a thermal power plant in Manila.
— BusinessWorld Online

BTr fully awards P15 billion in T-bills at auction
THE Bureau of the Treasury (BTr) fully awarded a total of P15 billion in Treasury bills (T-bills) on Monday, with investors seen to flock to shorter-dated securities.
— Business Mirror

DA wants to import 10,000 MT of pork
THE Department of Agriculture (DA) plans to import up to 10,000 metric tons (MT) of pork to avoid increases in the commodity’s price ahead of the holiday season.
— The Manila Times


Feature photo Brian Evans


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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