Philippines morning news for July 24

Philippines morning news for July 24
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Philippines morning newsPhilippines infrastructure: Build, build, build… but not so fast
The Philippines Department of Finance (DOF) has hit back at criticism by a university professor describing the rate of infrastructure development currently underway as being “faster than any other administration achieved in the past.”
— AEC News Today

France offering €400,000 grant for Metro Manila cable car feasibility study
THE Department of Transportation (DoTr) said it may tap a grant from France amounting to €400,000, or about P25 million, to conduct a feasibility study on a cable car route in Metro Manila.
— BusinessWorld Online

OWWA launches P300-million OFW livelihood program
The Overseas Workers Welfare Administration (OWWA) has allocated P300 million to finance its livelihood program of overseas Filipino workers’ (OFWs) organizations.
— Business Mirror

PRRD delivers shortest SONA; cites notable laws passed
True to his promise, President Rodrigo R. Duterte on Monday delivered his third State of the Nation Address (SONA) in less than an hour, making it his shortest SONA yet.
— Philippine News Agency

Philippines to mandate a $10,000 insurance deposit for domestic workers in Kuwait
Following rocky relations between the Philippines and Kuwait due to the murder and abuse of a Filipina maid earlier this year, a new mandate by the Philippines could further worsen ties between the two countries.
— Al-Arabiya

Investment pledges jump 27% in first half of 2018
Investments approved by the Board of Investments (BOI) are on track to reach the P680-billion target this year following a 27 percent increase in project approvals in the first semester and the expected influx of big-ticket projects in the second half.
— The Philippine Star

Rody submits P3.7-T budget for 2019
President Duterte submitted to the House of Representatives yesterday the first cash-based budget for 2019 after he delivered the State of the Nation Address (SONA).
— The Philippine Star

PEZA okays P439-B investments in Duterte admin
The Philippine Economic Zone Authority (PEZA) disclosed over the weekend that it has approved a total of PHP438.78 billion worth of projects during the first two years of the Duterte administration.
— Philippine News Agency

Duterte: No stopping TRAIN law
President Rodrigo Duterte reiterated the need for a comprehensive tax reform program and echoed his economic managers’ sentiments that the Tax Reform for Acceleration and Inclusion (TRAIN) law cannot be stopped.
— Rappler

Major PHL tourism markets show slackened growth in H1
SOUTH Korea continued to be the top source of tourists for the Philippines, sending 815,683 of its citizens from January to June 2018.
— Business Mirror

BSP mulls ‘strong action’ vs speculative play on peso
To stop market play on the peso, the Bangko Sentral ng Pilipinas (BSP) has signalled its readiness to increase benchmark rates to temper exchange rate volatility since sustained pressures on the peso may have already worsen inflation expectations.
— Manila Bulletin

Philippines: Duterte’s human rights smears a “classic diversionary tactic”
Philippines President Rodrigo Duterte today attacked critics of his deadly ‘war on drugs’, telling human rights activists: “your concern is human rights, mine is human lives” and promising the continuation of a “relentless and chilling” campaign.
— Amnesty International

Fiscal deficit widens to P193 billion in 6 months
The fiscal deficit of the national government widened to P193 billion in the first half from P154.5 billion in the same period last year as both revenues and disbursements posted strong growth during the period, according to the Bureau of the Treasury (BTr).
— The Philippine Star

Arbitral court ruling ‘empty victory for PH’
Defense Secretary Delfin Lorenzana on Monday described as an “empty victory” the ruling of the Permanent Court of Arbitration in 2016 favoring the Philippines’ claims in the South China Sea.
— Philippine Daily Inquirer

Philippines Firms’ Revenue Down 6.9 Percent
Gross revenues of local industries slowed to 6.9% in the first quarter of 2018, according to the Philippine Statistics Authority, PNA reported.
— Financial Tribune

Duterte vows to defend West Philippine Sea in SONA 2018
President Rodrigo Duterte vowed to defend the West Philippine Sea as he delivered his 3rd State of the Nation Address (SONA) on Monday, July 23.
— Rappler

In Duterte’s Philippines, having a beer can now land you in jail
More than 50,000 Filipinos have recently been rounded up minor offenses.
— SBS News

Farm damage from 2 storms hit P565M
The two tropical storms that soaked Metro Manila and the rest of Luzon damaged P565 million worth of crops, the Department of Agriculture (DA) said on Monday.
— The Manila Times

Pangasinan state of calamity; flood damage hits P1 billion
With damage to agriculture and infrastructure due to widespread flooding initially estimated at over P1 billion, Pangasinan was placed under a state of calamity yesterday.
— The Philippine Star

Makati collects P15.6-billion in revenue in 6 months
Makati City Mayor Abigail Binay on Monday expressed confidence that the city government will hit and surpass its P15.6-billion revenue goal this year after collecting P12.09 billion, or 77 percent of the target, in just six months.

Women in the Philippines Have Had Enough of President Duterte’s ‘Macho’ Leadership
As Philippine President Rodrigo Duterte prepared for his State of the Nation Address (SONA) on Monday, his third since assuming power in 2016, protesters took to the streets in and around Manila. Police expected around 40,000 protesters against his administration and 40,000 in favor of the controversial leader.
— The Pinoy

Duterte to sign Bangsamoro Organic Law within 48 hours
President Rodrigo Duterte committed to signing the Bangsamoro Organic Law within two days during his third State of the Nation Address on Monday.
— CNN Philippines

Over 50% of Filipinos consider Duterte’s actions and remarks ‘vulgar’
MORE THAN half of Filipinos considered President Rodrigo R. Duterte’s recent actions and remarks as “vulgar,” according to a survey report released by the Social Weather Station on Sunday.
— BusinessWorld Online

Q2 growth seen at 7%
The economy is estimated to have grown by at least seven percent in the second quarter, given gains in infrastructure spending, capital goods imports and manufacturing, according to the latest report of the Market Call.
— Malaya

Filipino President seeks foreign and domestic investors to form third telco
Filipino President Rodrigo Duterte has said that his bid to launch a third telco in the country would be “open to all interested parties, both foreign and local”.
— Total Telecom (media release)

Completed office space in Metro Manila drops 22% quarter-on-quarter
PRONOVE Tai International Property Consultants reported the area of new office spaces finished in the second quarter (Q2) of 2018 decreased by 22 percent compared to the previous quarter.
— Business Mirror


Feature photo maryaddison80


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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