Philippines Morning News For November 20

Balance of payments incurred $5.59-billion deficit in first ten months
The balance of payments posted a deficit of $458 million in October, higher than the $368-million shortfall a year ago, as imports continued to outpace exports and after the government settled some of its maturing foreign debt, the Bangko Sentral ng Pilipinas said Monday.
— Manilastandard.net

Chinese To Invest $2 Billion To Build Industrial Park In Clark, Philippines
Chinese construction and engineering company China Gezhouba Group will invest $2 billion to establish an industrial park in New Clark City in Pampanga province in the northern Philippines, the Financial Times reported.
— Investvine

Congress OKs bill splitting Palawan into 3 provinces
Congress has passed a bill splitting Palawan into three provinces – a move that may prove to be beneficial to China, a senator warned.
— CNN Philippines

Signal no. 1 up in 28 areas as Samuel nears
More areas were placed under signal no. 1 as tropical depression Samuel moved closer to the Philippines, state weather bureau PAGASA said early Tuesday.
— ABS-CBN News

Philippines confirms Mislatel as third telecom player
The Philippines’ National Telecommunications Commission (NTC) confirmed on Monday that Mislatel, a consortium composed of China Telecom and its Philippine partners, as the country’s third major telecommunications player.
— China.org.cn

All set for P12.2-B Kaliwa Dam deal signing
It’s all is set for the signing today of the P12.2-billion Kaliwa Dam project — the only big ticket water infrastructure to push through within this administration — which will be held between President Rodrigo Duterte and Chinese President Xi Jinping.
— Manila Bulletin

Government confident fiscal deficit to fall within target for 2018
The Department of Budget and Management (DBM) yesterday gave assurance that the national government would not breach its 2018 fiscal deficit ceiling on the back of higher revenue in the fourth quarter of the year.
— The Philippine Star

Philippines Prepares for Visit by Chinese Leader
Philippine officials on Monday were preparing a red carpet welcome for Chinese leader Xi Jinping, saying the country wanted to take the bilateral relationship to a higher level of cooperation, despite a territorial dispute in the South China Sea.
— Benar News

US to extend P37.3-million new aid for families lashed by ‘Ompong’
The United States government will extend P37.3 million in new assistance for families affected by Typhoon “Ompong” in Benguet and Cagayan provinces.
— Manilastandard.net

Third Quarter 2018 Social Weather Survey: Pinoys maintain anti-Chinese stance on West Philippine Sea issue
The Third Quarter 2018 Social Weather Survey, conducted from September 15-23, 2018, found that 84% of adult Filipinos reject the government’s policy of doing nothing about China’s intrusion in the West Philippine Sea.
— Social Weather Stations

AboitizPower donates P5.6-M electrical equipment to Marawi
The Aboitiz Group has turned over a total of PHP5.6 million worth of electrical equipment in Marawi City as part of the rehabilitation efforts in the war-torn area.
— Philippine News Agency

PAGASA: Don’t take Tropical Depression Samuel lightly
The state weather bureau urged residents of areas in Tropical Depression Samuel’s path to prepare, as it is expected to bring heavy rain and intensify into a tropical storm.
— Rappler

Senate approves tax amnesty bill on final reading
The Senate on Monday, November 19, approved Senate Bill No. 2059, which seeks to allow a one-time opportunity to settle tax obligations.
— Rappler

Chicken, hog output up in July-Sept – PSA
The country’s production of chicken and hogs significantly increased in the third quarter of the year, proving there is enough supply for the Christmas season.
— The Manila Times

R.A. 11057 to help MSMEs acquire loans
Universal and commercial banks (U/KBs) in the Philippines are expected to hike their Agri-Agra rule compliance through the Personal Property Security Act, which effectively increases the list of assets that small businesses can use as loan collaterals.
— Philippine News Agency

Catholic Church aid to Yolanda victims hit P3.2b
The Catholic Church has spent a total of P3.2 billion for reconstruction efforts in areas hit by Super Typhoon Yolanda in the central Philippines in 2013.
— Manilastandard.net

Diokno: PH not in risk over China loans
The country will not fall into a debt trap with China, Budget Secretary Benjamin Diokno said Monday.
— CNN Philippines

DA chief allots P200-million loan to coconut farmers, workers amid copra global price drop
The government is set allocate at least P200 million worth of loans to coconut farmers and workers to help them recoup the losses amid falling copra prices, according to Agriculture Secretary Emmanuel F. Piñol.
— Business Mirror

Enemy at sea, friend of the chief: Philippine military navigates ties with China
Captain Sherwin Respeto didn’t know what to feel when he and his men approached the Chinese province of Zhanjiang aboard Philippine Navy vessel BRP Dagupan City last October.
— Rappler

ADB sees ‘Build’ program boosting PH corporate bond market
The Manila-based multilateral lender Asian Development Bank (ADB) is bullish about prospects in the domestic corporate bond market as real estate firms participate in the Duterte administration’s ambitious “Build, Build, Build” program.
— Philippine Daily Inquirer

PHL and China agreement to open 10,000 OFW jobs, DBM’s Diokno says
The negative impact of China’s one-child policy in previous years is now good news for overseas Filipino workers (OFWs) who are facing an uphill battle in securing employment in the Middle East and elsewhere on the globe.
— Business Mirror

PH ranks second as favored destination for impact investing
The Philippines ranks second to Indonesia as destination for funds from investments that seek to generate positive social and environmental result apart from financial ones, with the country attracting $2.4 billion in investments since 2007.
— Malaya

Philippines, Japan hold 6th infra loan meeting
Another high-level meeting on infrastructure is set this week between Filipino and Japanese government officials in Manila to discuss the processing of new concessional loan agreements that will finance the Duterte administration’s “Build, Build, Build” program.
— Manilastandard.net

iPeople allocates P2.5B for Mapua Makati campus
THE education arm of the Yuchengco group will be investing P2.5 billion to develop a new Mapua campus in Makati City.
— BusinessWorld Online

PLDT, Smart switch on Philippines’ first 5G cell sites
PLDT and mobile division Smart have announced the launch of the Philippines’ first 5G cell sites in Pampanga.
— Telecomasia.net

The cost of ship towing in the Philippines
All ships, including tankers, cargo containers, ferries, cruises, fishing boats and yachts, are required to be equipped with safety systems that meet the standards imposed by the International Maritime Organization (IMO).
— The Manila Times

Value of fake goods seized reach P18-B at end-Sept.
The Intellectual Property Office of the Philippines (IPOPHL) reported on Monday that a total of PHP17.9 billion worth of pirated and counterfeit goods were confiscated from January to September this year.
— Philippine News Agency

Senators allay fears over budget bill timeline
SENATORS on Monday sought to allay concerns over a looming scenario that the government will operate under a reenacted national budget in January as members of the two chambers of Congress, set to adjourn in mid-December, are not likely to approve the P3.757-trillion 2019 budget bill before going on holiday break.
— Business Mirror

Senate gives nod to P200-B BSP capitalization
The Senate passed on third and final reading a bill increasing the capitalization of the Bangko Sentral ng Pilipinas (BSP) from PHP50 billion to PHP200 billion.
— Philippine News Agency

Healthy bids prompt full award of P15-billion T-bills
A total P15-billion Treasury bills (T-bills) were awarded at Monday’s auction after monetary authorities again raised interest rates.
— Business Mirror

Authorities seize P15.5 billion worth of illicit cigarettes
Law enforcement agencies confiscated P17.9 billion worth of counterfeit items, including P15.5 billion worth of contraband cigarettes in the first three quarters, the Intellectual Property Office of the Philippines said Monday.
— Manilastandard.net

Credit service firm issues P1B bond for consumer loans
The Asian Development Bank (ADB) welcomed the P1 billion bond issuance by AEON Credit Service (Philippines) Inc., the first in the Philippines guaranteed by the Credit Guarantee and Investment Facility (CGIF) and issued under the Asean+3 Multi-Currency Bond Issuance Framework (AMBIF).
— Malaya

DoLE: 300,000-plus workers regularized
MORE THAN 300,000 workers have been regularized this year, the Department of Labor and Employment (DoLE) reported on Monday, citing its efforts as well as voluntary regulation by employers.
— BusinessWorld Online

Filipinos among thousands who lost homes in California fire
The Camp Fire in Northern California became the deadliest wildfire in the U.S. in a century, burning through 141,000 acres and leaving about 9,700 homes destroyed as of Friday, Nov. 16. Filipino families were among the people who lost their homes.
— Inquirer.net

Feature photo SuSanA Secretariat

This week’s Philippines morning news feature photo acknowledges World Toilet Day November 19

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 November 20 added by Stella-maris Ewudolu on November 20, 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.