Philippines Morning News For July 9

Philippines Morning News For July 9
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Philippines morning newsCOA flags P1-B unliquidated funding for Asean summit
Some P1.046 billion, or 30 percent of the Department of the Interior and Local Government’s funding for the 2017 Association of Southeast Asian Nations summit, was not liquidated by year-end.
— Philippine Daily Inquirer

Government borrowing up over 74% in May
OVERALL GOVERNMENT borrowing in May grew 74.55% as the Bureau of the Treasury (BTr) accepted more bids at its twice-a-week auction of government securities, especially on the shorter-dated notes.
— BusinessWorld Online

‘I’ll resign if anybody can prove God exists’
The Philippine president, who recently sparked outrage for calling God stupid, has courted new controversy in his largely Roman Catholic country by saying he will resign if anybody can prove that God exists.
— The Star Online

P99-M DILG fund to fight crime, drugs unliquidated
The Department of the Interior and Local Government (DILG) has recorded P99 million in unliquidated funds allocated for the agency’s anti-crime and anti-drug program Mamamayang Ayaw sa Anomaly, Mamamayang Ayaw sa Illegal na Droga (Masa Masid), a 2017 Commission on Audit (CoA) report showed.
— The Manila Times

Malaysian firm to build 12 gov’t centers, biz hubs outside Manila
Malaysian infrastructure firm AlloyMTD Group will pour in PHP18 billion in the Philippines for the construction of government centers and business hubs in provinces across the country.
— Philippine News Agency

Gov’t lost P460M from Tadeco deal – COA
The government lost P460.18 million in potential revenues over the past two years because the Bureau of Corrections (BuCor) charged “grossly disadvantageous” rental rates on Tagum Agricultural Development Co. Inc. (Tadeco), the Commission on Audit (COA) said.
— Philippine Daily Inquirer

China firms to build bridges in Metro Manila
President Duterte announced last Friday that Chinese firms will construct two bridges in Metro Manila, one in Manila and the other straddling Makati and Mandaluyong.
— The Philippine Star

Philippines probe spate of brazen politician murders
Philippine authorities were Sunday investigating the brazen killing of a vice-mayor near Manila, the third deadly attack by gunmen against local officials in less than a week.
— Gulf News

Metro Manila Pride March now the oldest, largest pride demonstration in SEA
After drawing in more than 25,000 attendees last week, the Metro Manila Pride March and Festival, which is the oldest in Southeast Asia, has become the largest pride demonstration in the region as well.

SMC Global Power to raise P15B from bond offer
SMC Global Power Holdings Corp. intends to raise P15 billion from the issuance of fixed rate bonds to refinance debt.
— BusinessWorld Online

Philippines seeks fast-track visa process for Chinese tourists
The Philippines is exploring ways to shorten the processing of visa on arrivals for Chinese tourists, making their entry into the country faster and hassle-free, local media reported on Sunday.
— Global Times

DOLE to ease requirements for Boracay workers’ financial aid
Getting financial aid from the government will soon be easier for displaced formal sector workers of this island, the Department of Labor and Employment said Sunday.
— PTV News

Philippines urged to conclude negotiations on trade agreements
The Philippines is being urged to take part in the Trans-Pacific Partnership and to reach out to the Pacific Alliance in order to take advantage of opportunities offered by trade blocs.
— The Philippine Star

Feasibility study to be undertaken on foreign offices
The Department of Tourism (DOT) is studying a possible reorganization of its network of foreign offices in a bid to strengthen its overseas presence.
— The Philippine Star

‘Banks to feel the pinch of new liquidity rules’
The requirement of the Bangko Sentral ng Pilipinas (BSP) for banks to beef up their liquidity profiles will be good for the banking system in the long run, but will result in “short-term pain” for the sector, an international think tank said.
— Business Mirror

Growers seek to tap China demand for frozen durian
Growers and exporters are meeting later this month at the 2nd Durian Summit, in a bid to find ways to meet Chinese demand for frozen durian.
— BusinessWorld Online

DTI: Higher meat tariff to increase canned food prices
Trade Secretary Ramon Lopez wants to keep the import tariff on mechanically deboned meat at 5 percent “for the best of the people and the country.”

PHL to host 26th Aspac Boy Scouts conference
THE Philippine National Police (PNP) and Department of Tourism (DOT) are working alongside the Boy Scouts of the Philippines (BSP) to prepare for the wave of international delegates attending this October’s 26th Asia-Pacific Regional Scout Conference (ASPRC) the Philippines will host.
— Business Mirror

Bicameral body to iron out BBL provisions
The congressional bicameral conference committee will begin to straighten out provisions of the proposed Bangsamoro Basic Law (BBL) ahead of President Rodrigo Duterte’s third State of the Nation Address (SONA).
— CNN Philippines

How competitive is the Philippine economy today?
In this time of uncertainty resulting from the unnecessary provocation of our Christian community, political killings, and rumors of martial law, its important that we put perspective on things by taking into consideration the true state of the economy.
— BusinessWorld Online

Ipilan mining project to start next year
Global Ferronickel Holdings Inc. (FNI), the country’s third largest nickel ore producer, would like to restart operations next year after former Environment Secretary Regina Paz Lopez cancelled the environmental permit of its Ipilan mining project in 2016 for failing to start on time.
— Manila Bulletin

PH wins 3 more golds in SEA Age Group Swimming
Xiandi Chua ruled the girls 200-meter backstroke event in the 16-18 years old category on Saturday to capture her second gold medal in the 42nd Southeast Asia Age Group Swimming Championships here.
— Philippine Canadian Inquirer


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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