Philippines Morning News For July 13

Philippines Morning News For July 13
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Philippines morning newsDuterte pressed to assert 2016 arbitration victory vs China
Philippine President Rodrigo Duterte has come under renewed pressure to seek Chinese compliance to an arbitration ruling that invalidated China’s claims to much of the South China Sea two years ago but has been ignored by Beijing and remains unenforced.
— Ottawa Citizen

‘Philippines, Province of China’ banners stir anger on anniversary of arbitration win
Banners calling the Philippines a “province of China” mysteriously appeared on bridges in Manila on Thursday (Jul 12), sparking fury on social media on what was the second anniversary of Manila’s victory over Beijing in a landmark arbitration case.
— Channel NewsAsia

Hot money outflows rise in June
The central bank registered a higher net foreign portfolio investment or hot money outflows in June of $516 million compared to the previous month’s $206 million, citing investors’ inflation and exchange rate concerns.
— Manila Bulletin

BSP: Foreign portfolio investments fall on quicker inflation, weak peso
Foreign portfolio investments fell in June amid investor concerns on inflation and the further weakening of the peso, and after the U.S. Federal Reserve moved to raise interest rates, the Bangko Sentral ng Pilipinas (BSP) said Thursday.

PH growth to fall below 7-8% target
Philippine economic growth will likely stay “decent” over the medium term but fall short of the government’s 7.0-8.0 percent target, research consultancy Capital Economics said.
— The Manila Times (annoying pop-ups)

Malacañang says no need to enforce Hague ruling
Presidential Spokesperson Harry Roque said the Philippines under the Duterte administration continues to defend its rights over the West Philippine Sea even as he said there is no need to enforce the landmark ruling won by the country against China.
— Rappler

Manila Water bags P173-M Pagsanjan project
Ayala-led Manila Water Company Inc. won an 18-year contract for the development of a PHP173-million water supply project in Pagsanjan, Laguna.
— Philippine News Agency

EDC to raise P11.5 billion for bilateral loans, capex
LOPEZ-led Energy Development Corp. (EDC) will raise P11.5 billion via bilateral term loans to refinance loans and fund its capital expenditure (capex).
— Business Mirror

Senate divided on whether to postpone 2019 midterm elections
The Senate is divided on the question of canceling or postponing next year’s midterm elections to clear the way for the introduction of federalism in the Philippines.
— Philippine Daily Inquirer

COA flags P2 billion worth of DOT transactions under Wanda Teo
From official junkets to advertisements placed on television networks, the Commission on Audit has found irregularities in more than P2 billion worth of transactions the Department of Tourism made under the leadership of former Secretary Wanda Teo.
— GMA News

TESDA gives free skills training to 20K drug surrenderers
Since the start of the Duterte administration in 2016 until June 2018, the Technical Education and Skills Development Authority (TESDA) has provided free skills training to 20,550 drug surrenderers, the agency reported on Thursday.
— Philippine News Agency

Taiwan firm eyes PH as manufacturing hub; local unit sets P6.77-B IPO
Taiwan-based New Kinpo Group (NKG) is grooming the Philippines to be its next Southeast Asian electronics manufacturing hub with a P6.77-billion local stock market debut planned by its local arm, Cal-Comp Technology (Philippines) Inc.
— Philippine Daily Inquirer

SEC sets up online kiosks for business registration
The Securities and Exchange Commission (SEC) on Thursday announced the availability of on-line kiosks that allow faster and trouble-free registration of new corporations, partnerships and associations, to enhance ease of doing business in the country.
— Philippine News Agency

Murders in broad daylight
In the Philippines, the life expectancy of mayors and their deputies can be very short.
— The Asean Post

10 PH firms in top 100 Asian companies
Ten Philippine companies made it to the top 100 of The Nikkei Asian Review’s third annual Asia300 Power Performers Ranking, a compilation of the most powerful and valuable listed companies in Asia.
— Manila Bulletin

PHL, Spain ink agreement to pave way for direct flights
THE Department of Foreign Affairs (DFA) said the Philippines has inked an agreement with Spain to improve air connectivity between the two countries.
— BusinessWorld Online

Chinabank raises P10.25B in huge term deposit offer
Sy family-led China Banking Corp. (Chinabank) has raised P10.25 billion in fresh funds from an offering of high-yielding deposit notes, boosting its capability to support big-ticket projects such as in the infrastructure and energy sectors.
— Philippine Daily Inquirer

DOH: Risk of death high among pregnant teenagers
TEENAGERS who get pregnant between the age of 10 to 19 years old have a higher risk of dying, a health official said.
— Sun Star

Muslim region of Philippines to have religious freedom
Freedom of religion will be enshrined in a proposed law that will allow the creation of a new autonomous Muslim region in the southern part of the Philippines.
— UCA News

DOT did not monitor how Tourism offices spent P605 million – COA
The Commission on Audit flagged the millions in cash advances the Department of Tourism gave to its foreign offices without monitoring how the funds were utilized.
— CNN Philippines

Palawan, Cebu among ‘world’s best islands’ for 2018
Two Philippine destinations made it to the “world’s best islands” list as voted by readers of the New York-based magazine Travel + Leisure.

Top Frontier sees $600 million cashflow from nickel plant
The proposed $1.5 billion nickel-processing plant of the parent firm of diversified conglomerate San Miguel Corp. (SMC) is set to yield $600 million in free cashflow per year when completed.
— The Philippine Star

Philippines, U.S. to start free trade talks in September
The Philippines will begin negotiations on a free trade agreement with the United States in September, its ambassador to Washington said on Thursday, in a bid to expand market access for its agricultural products.
— Reuters

Taiwan extends visa-free entry for Pinoys to 1 year
Taiwan has extended the trial visa-free entry of Filipinos to one year.
— Tempo

LGUs seek P1.5-trillion share under 2019 budget
Batangas Governor Hermilando Mandanas urges the national government to recompute its proposed budget for next year to reflect the recent Supreme Court decision increasing the portion of local government units from the national wealth.
— ABS-CBN (video)

DTI to sign UAE market-access deal for halal products
THE Department of Trade and Industry (DTI) is set to sign a deal with the United Arab Emirates (UAE) which will allow easier access to Philippine halal products, especially those produced by micro, small, and medium-scale entrepreneurs.
— BusinessWorld Online

Duterte wants to speed up federal shift, says Senate chief
President Rodrigo Duterte reiterated his proposal to hasten the process for a shift to a federal form of government so that he could be replaced, Senate President Vicente Sotto said Thursday.

Marawi rehabilitation suffers setback as gov’t, Bangon Marawi talks collapse
GROUNDBREAKING plans for the rehabilitation of Marawi City are set back by a month following the collapse of negotiations between the government and private contractors that were supposed to undertake the reconstruction project.
— Malaya

P893-M tobacco excise tax share released for Ilocos Norte
Tobacco production remains to be a lucrative venture in Ilocos Norte as various development projects and services continue to pour in for the farmers with the release of the province’s tobacco excise tax share.
— Northbound 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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