Philippines morning news for August 8

Philippines morning news for August 8
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Philippines morning newsOver P16B from Train to fund 2019 infra projects
MORE than P16 billion of estimated total revenues from Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (Train) Act, will partially finance a number of infrastructure projects next year, Budget Secretary Benjamin Diokno said on Tuesday.
— The Manila Times

Government to spend P43.7 billion for solar irrigation systems
The Duterte administration is planning to spend P43.7 billion to irrigate an additional 500,000 hectares of land over the next four years through solar-powered irrigation systems (SPIS) to improve farm productivity.
— Business Mirror

European Union earmarks P9.2-M to Filipino flood victims
The European Commission, the politically independent executive arm of the European Union (EU), is allocating EUR150,000 or about PHP9.2 million to Filipinos affected by the widespread flooding triggered by non-stop monsoon rains in the past few weeks.
— Philippine News Agency

House OKs on 2nd reading bill on revised agricultural tariffication
The House of Representatives approved on 2nd reading the bill seeking to replace quantitative restrictions on rice imports with the imposition of tariffs or taxes.
— Rappler

P354M for coffee self sufficiency by 2022
P354.60 million has been allotted through the Department of Agriculture (DA) to boost the country’s coffee production to 214,626 metric tons by year 2022.
— Manila Bulletin

Philippines to cancel Landing’s $1.5 billion casino project: Duterte’s spokesman
Philippines President Rodrigo Duterte will cancel Landing International Development Ltd’s $1.5 billion integrated casino project in the capital, his spokesman said minutes after the Hong Kong-listed firm broke ground on Tuesday.
— Reuters

Rody fires entire board of ‘Nayon’ over 70-year lease
President Rodrigo Duterte has sacked the entire board and management of Nayong Pilipino Foundation for leasing government property for 70 years, Malacañang announced Tuesday.

July dollar reserves dip to lowest since 2011
The dollar reserves of the Bangko Sentral ng Pilipinas (BSP) has dipped to its lowest level in almost seven years at the end of last month as monetary authorities used up more hard currency to pay for foreign obligations and temper the volatility of the peso.
— Philippine Daily Inquirer

Inflation accelerates further in July at 5.7%
The rate of increase in consumer prices accelerated further in July amid skyrocketing commodity prices.
— Manila Bulletin

Taiwanese IT firm in PH to invest P800-M on local R&D
Developing the Philippines’ engineering resources is the main priority of Cal-Comp Technology (Philippines), Inc., as it expands its operations in the country.
— ABS-CBN News

Production to sustain double-digit growth
The National Economic and Development Authority (NEDA) expects the manufacturing sector to sustain the double-digit growth recorded in the first half of the year, after it posted another two-digit hike in June.
— Malaya

LuLu Group to buy up to USD20-M worth of goods from PH
Philippine Economic Zone Authority (PEZA) Director General Charito Plaza revealed that an Abu Dhabi-based retail giant will buy some USD10-million worth of goods from the Philippines this year, and that the figure will jump to USD20 million by 2019.
— Philippine News Agency

NayonLanding project to proceed despite sackings
The Hong Kong firm behind a questioned integrated resort development said the project would push through despite President Rodrigo Duterte’s sacking of the entire board of its Philippine partner.
— The Manila Times

88 Filipino amnesty-seekers to leave UAE on August 15
A total of 152 overstaying Filipinos were given an exit pass in the first three working days (August 1, 2 and 5) of the 90-day immigration amnesty programme, Philippine Consul-General Paul Raymond Cortes told Khaleej Times on Tuesday.
— Khaleej Times

Poorest Pinoys lost up to P2,715 due to inflation: think tank
The poorest 60 million Filipinos suffered an income loss due to quickening inflation in the first half of 2018, an economic think tank said Tuesday.
— ABS-CBN News

Gov’t urged to focus on MICE market to boost tourist influx
The government should classify the meetings, incentives, conventions and exhibition (MICE) sector as an industry in itself due to its potential of ramping up the volume of tourist arrivals, a travel executive said.
The Philippine Star

Philippine, Russian navies consider submarine agreement
The Philippine Navy (PN) and Russian Navy are discussing the terms of an agreement to expand collaboration on diesel-electric submarines, state-run media in Manila has reported.
— IHS Jane’s 360

Senate approves bill amending Corporation Code
The Senate has approved a bill amending the Corporation Code to make the country more attractive to large and small businesses.
— ABS-CBN News

Philippines Creates Task Force to Secure Release of Filipino Hostages in Libya
President Rodrigo Duterte has created a high-level task force led by his foreign secretary to help secure the release of three Filipinos kidnapped in Libya, his spokesman said Tuesday, four days after threatening to send a warship to rescue the workers seized by gunmen last month.
— Benar News

Philippines beyond clichés: ‘tough on crime’
Welcome to Part 3 of our special series of podcasts that take a look a The Philippines beyond the cliches.
— New Mandala

Philippine Project to Use Blockchain to Clean Up Dirty River
The Philippines’ Pasig River Rehabilitation Council (PRRC) is collaborating with a group of local and South African environmentalists and entrepreneurs to use blockchain to save the 27-kilometer long Pasig River running through capital Manila.
— Cryptovest

SC approves precautionary hold departure order for crime suspects
The Supreme Court (SC) has approved a new rule to issue precautionary hold departure orders (PHDO) for crime suspects.
— CNN Philippines

LGU shares from SBMA reach P1.65 billion in last 8 years
Revenue shares released by the Subic Bay Metropolitan Authority (SBMA) in the last eight years to neighboring local government units (LGUs) have reached P1.65 billion, reflecting a vibrant business atmosphere here and providing a gauge of how local communities could potentially develop with such a steady source of funds.
— Business Mirror

8 SM firms rank tops in ASEAN good governance
Eight SM companies were recognized among the top-governed firms based on the 2017 ASEAN Corporate Governance Scorecard (ACGS) in an appreciation ceremony by the Institute of Corporate Directors held last July 31, 2018.
— Manila Bulletin

PH, Hungarian news agencies ink historic deal
The Philippine News Agency and the Hungarian Government’s Media Support and Asset Management Fund agreed to hold mutual news exchange and cooperation after sealing a “historic” deal at the New Executive Building in Malacanang on Monday.
— Philippine Information Agency

S.C. issues ‘show cause’ order to same-sex marriage advocates
THE Supreme Court (SC) on Tuesday issued a “show cause” order directing lawyer Jesus Nicardo Falcis III and his cocounsels to explain why they should not be cited in indirect contempt for their failure to file their memoranda in connection with their petition seeking to legalize same-sex marriage.
— Business Mirror

AirAsia to bid for Clark, Philippines concession
AirAsia Group intends to submit a bid in the upcoming tender for a 25-year operation and maintenance contract at Clark, chief executive Tony Fernandes has said.
— Ch-aviation

Philippine business optimism slips but still SE Asia’s second best
BUSINESS OPTIMISM in the Philippines slipped last quarter as against the year-ago level, although the country was still second-best in Southeast Asia, according to new research from Grant Thornton.
— BusinessWorld Online

Huawei’s gaming smartphone Honor Play launches in Southeast Asia
Honor, Huawei’s subsidiary smartphone brand, has officially launched its game-centric Honor Play smartphone in Malaysia, Singapore, and the Philippines, the company has announced at a launch event in Kuala Lumpur.
— ZDNet

DTI targets 100 booths at China expo
The Department of Trade and Industry (DTI) plans to secure at least 100 booths to showcase Philippine products at the China International Import Expo (CIIE), following concerns raised by the Philippine Chamber of Commerce and Industry (PCCI) earlier as only two of the requested 150 have been given to the country.
— The Philippine Star

PNP, AFP: National ID system will unmask terrorists, criminals
The Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP) welcomed on Tuesday the signing of the national identification system by President Duterte, saying it will help in the campaign against criminals and beef up national security.
— Business Mirror

Shifting gov’t fund releases to boost electronic payments
SHIFTING government fund releases to digital channels will give a substantial boost to electronic payments, the central bank chief said, but flagged that connectivity issues remain a barrier to adoption.
— BusinessWorld Online

Gov’t resumes fuel subsidy distribution
The government resumed the distribution of “Pantawid Pasada” fuel cards on Tuesday, after a week of temporary suspension.
— CNN Philippines


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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One Response to "Philippines morning news for August 8"

  1. Sing dong   August 8, 2018 at 12:42 pm

    This is a nice morning news for the Philippines about the zen rooms.


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