Philippines Morning News For July 3

Gov’t sets P3.8-T disbursements for 2019
The Development Budget Coordination Committee (DBCC) announced on Monday that the government’s disbursement program next year is at PHP3.8 trillion and will be expanded to PHP5.362 trillion in 2022.
— Philippine Canadian Inquirer

Gov’t borrows P11.9B via Treasury bills
THE GOVERNMENT opted for a partial award of the Treasury bills (T-bills) on offer yesterday as yields on the longer tenors rose, with the market pricing in their expectations on inflation and of another rate hike from the central bank.
— BusinessWorld Online

MWSS’s ‘Annual Million Tree Challenge’ pledges reach 1.2 million trees
PLEDGES of participating agencies of the “Annual Million Tree Challenge” (AMTC), an initiative of the Metropolitan Waterworks and Sewerage System (MWSS), exceeded its target for 2018.
— Business Mirror

Philippines Manufacturing Sector Slows In June – Nikkei
The manufacturing sector in the Philippines continued to expand in June, albeit at a slower rate, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 52.9.
— Markets Insider

Philippine mayor who held drugs war ‘walk of shame’ shot dead
A Philippine mayor who paraded suspected drug dealers through the streets of his city was shot dead on Monday while attending a weekly flag-raising ceremony for government officials, police said.
— Bangkok Post

Two years of Duterte
President Rodrigo Duterte’s two years in office in the Philippines have been marred by controversy, but with one big success: a booming economy.
— The Asean Post

Australia vs. Philippines basketball game erupts into huge brawl
AUSTRALIA’S FIBA World Cup qualifying match against the Philippines erupted into a vicious all-in-brawl, then descended into a chaotic farce on Monday night as coward punches, kicks and chairs were thrown in wild scenes at the Philippine Arena, south of Manila.
— NEWS.com.au (video)

MECO laments Philippines’ listing as 2nd most hated country in Taiwanese survey
Many Taiwanese and Filipino netizens alike are perplexed by the results of a survey by the Taiwan Public Opinion Foundation released on June 17, which listed the Philippines as the second-most-hated country by Taiwanese respondents.
— Taiwan News

Government approves tuition hike in 947 private elementary, high schools
Close to a thousand private schools are raising tuition next school year. But the Education Department sees a silver lining – with a number of schools that asked for an increase going down.
— CNN Philippines

BPI to start charging for over-the-counter withdrawals, inter-regional deposits
The Bank of the Philippine Islands (BPI) announced on Monday, July 2, that it would begin charging its clients for over-the-counter withdrawals and inter-regional deposits on September 1.
— Rappler

60% rise in leptos cases alarming—DoH
In a press briefing at San Lazaro Hospital in Manila, Health Secretary Francisco Duque III said that a total of 234 Leptospirosis cases were recorded compared to last year’s 146 cases, covering Jan. 1 to June 29.
— Manilastandard.net

Budget deficit to hit record P774-billion by 2022
The Development Budget Coordination Committee updated the medium-term fiscal program, with the budget deficit expected to reach a record P774.3 billion by 2022 on the back of higher expenditures.
— Manilastandard.net

Customs collections hit P280.33 B in 6 months
Collections of the Bureau of Customs (BOC) amounted to P280.33 billion in the first half, higher than the P278.13 billion target for the period, according to its head Isidro Lapeña.
— The Philippine Star

Regions to get 50% share of top 4 revenue sources under federalism
Under the Consultative Committee’s (Concom) proposed federal Constitution, every federated region will share equally in 50 percent of the total of the four biggest revenue sources of the national government.
— Philippine News Agency

Electronic exports up 3.3% in Jan-April – Seipi
REVENUES from electronic exports increased by 3.3 percent to $11.75 billion (P627.8 billion) in the first four months of 2018 from $11.38 billion (P608.03 billion) in the same period last year, the Semiconductor and Electronics Industries of the Philippines Foundation Inc. (Seipi) said.
— The Manila Times

ICTSI now services megaships in Ecuador
The International Container Terminal Services Inc said that its concession in Ecuador has been given the go signal to accommodate mega vessels of up to 305 meters in length at the Port of Guayaquil’s Berths 2 and 3.
— The Manila Times

Facebook messenger gets AI-powered assistant in the Philippines
Facebook on Monday announced that users of its Messenger app in the Philippines will now be able to use an AI-powered feature that will “enrich the way people communicate and get things done.”
— ABS-CBN

Market seen hitting 2-year low by Aug
Stockbroker Philstocks Financial Inc. sees the Philippine Stock Exchange index (PSEi) dropping to a two-year low of 6,800 by August before it recovers and ending the year between 7,500 and 7,700.
— Malaya

Myanmar crushes PH Malditas in AFF Women’s Championship opener
Myanmar made a huge statement in the Asean Football Federation (AFF) Women’s Championship, dealing the Philippine women’s football team a 4-0 blow at the Jaka Baring Stadium in Palembang, Indonesia on Sunday.
— Philippine News Agency

Feature photo rmac8oppo

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.

Philippines Morning News For July 3 added by Stella-maris Ewudolu on July 3, 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.