Philippines Morning News For November 30

Philippines gets $300 million PPP infrastructure loan
The Asian Development Bank (ADB) approved a $300 million loan on August 20 to support the Philippines’ efforts to strengthen private sector participation in the government’s “Build, Build, Build” (BBB) infrastructure development programme.
— AEC News Today

M3 growth slows, bank lending up in October
Money supply growth slowed in October despite increased bank lending, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
— The Manila Times

Court verdict: Cops lied, Kian delos Santos helplessly killed
Local cops of Caloocan City murdered a helpless 17-year-old boy they accused of being linked to drugs, then later lied about the circumstances of the boy’s death, a lower court verdict showed.
— Rappler

Inflation likely at 5.8 to 6.6 percent in November: BSP
Inflation likely slowed to a range of 5.8 to 6.6 percent in November, slowing from the previous 2 months, the Bangko Sentral ng Pilipinas’ think tank said Thursday.
— ABS-CBN News

ADB to fund technical assistance for three PHL transport projects
THE ASIAN Development Bank (ADB) is preparing $5 million worth of technical assistance grants for transport projects in Southeast Asia, with the Philippines getting funding for three projects.
— BusinessWorld Online

Sandiganbayan allows legal remedies for Imelda Marcos
The Sandiganbayan is allowing former first lady and now Ilocos Norte Representative Imelda Marcos to avail of legal remedies following her conviction for graft.
— CNN Philippines

1.4 million Filipino families fell victim to common crimes- survey
More Filipino families fell victim to common crimes, results of the September 2018 Social Weather Stations (SWS) survey released Thursday showed.
— ABS-CBN News

Pag-IBIG loan releases hit P7 billion in October; marks highest ever non-December disbursement
Pag-IBIG Fund released P7.02 billion in home loans in October alone, helping 7,896 families acquire their own homes.
— Manilastandard.net

Siam Cement to invest $155m at Philippine packaging plant
Thai materials maker Siam Cement Group will spend 5.12 billion baht ($155 million) to increase production capacity at a packaging materials plant in the Philippines.
— Nikkei Asian Review (paywall)

Philippine fintech receives $215 million in country’s largest-ever startup funding
One of the year’s largest fintech investments in Southeast Asia and the largest-ever in the Philippines has closed after Metro Manila-based Voyager Innovations announced it raised $215 million in fresh funds.
— investvine

Arroyo alloted P60M to each lawmakers’ pet projects
House Majority Leader Rolando Andaya Jr. on Wednesday admitted that Speaker Gloria Macapagal-Arroyo had directed the allotment of at least P60 million worth of government projects for each of the 292 members of the House of Representatives.
— Philippine Daily Inquirer

Makati judge lifts travel ban on Trillanes
A Makati Regional Trial Court (RTC) judge on Thursday allowed Senator Antonio Trillanes IV to travel to the United States and Europe for speaking engagements.
— Philippine News Agency

No pardon for cops in Kian murder, Palace assures
Malacañang on Thursday allayed worries President Rodrigo Duterte may pardon the three police officers found guilty of murdering Kian delos Santos during an anti-drug operation.
— CNN Philippines

Imelda Marcos withdraws bid for Ilocos Norte governor
After her conviction for graft, Ilocos Norte 2nd District Representative Imelda Marcos withdrew her candidacy for Ilocos Norte governor.
— Rappler

Six MOUs signed to boost Taiwan-Philippines investment
Taiwan’s Chinese National Federation of Industries signed six memorandums of understanding (MOU) with Filipino industry associations in Taipei Thursday and is looking for further opportunities for cooperation in the electronics, electric motorbike and plastics industries.
— Focus Taiwan

Philippines piles on legal threats against critical news site Rappler
Philippine prosecutors have in recent days filed five separate tax cases against critical news site Rappler, including criminal charges that may allow for the arrest of the site’s founder and editor Maria Ressa, according to news reports.
— CPJ

Korean yields P2.2-B worth of chemicals ‘used’ to make shabu
Police seized PHP2.2-billion worth of chemicals and equipment used in the manufacture of shabu inside a parked van owned by a Korean national in Pasig City on Wednesday.
— Philippine News Agency

NEA loan collection up 5%
The National Electrification Administration (NEA) said its loan collection from electric cooperatives (ECs) for the first nine months of the year has reached P1.710 billion, with 99 percent efficiency on loan amortization.
— Malaya

BIR withdraws tax on health card premiums
Just as employees start to get their 13th month pay and bonuses, the Bureau of Internal Revenue (BIR) has withdrawn a provision from Revenue Memorandum Circular 50-2018 which taxed group health insurance premiums.
— The Philippine Star

Recto Bank drilling likely to trigger oil exploration moratorium lifting
If interest-holders in Service Contract (SC) 72 at the Recto Bank in Northwest Palawan basin will get government imprimatur to resume with their planned extended seismic survey and drilling activities, this is seen as a major turning point for the Philippine government to prospectively lift petroleum exploration at the diplomatically-strained West Philippine Sea.
— Manila Bulletin

Cebu provincial gov’t completes 49 trash facilities for localities; P40M set for processing equipment
THE PROVINCIAL government of Cebu has so far completed and turned over 49 material recovery and composting facilities (MRCF) to various localities, including towns and barangays under its jurisdiction.
— BusinessWorld Online

LRT-1 set for P100-million CCTV system upgrade
The Light Rail Manila Corp. (LRMC) is embarking on a P100-million upgrade of the closed-circuit television system of the Light Rail Transit Line 1 (LRT-1).
— The Philippine Star

Tobacco tax hike to help fund health care law: Sen. Ejercito
Higher excise taxes on tobacco products will help fund the Universal Health Care Law, a senator who sought to raise the levy said Thursday.
— ABS-CBN News

Land distributed to farmers hits 4.77 million hectares–study
THE cumulative accomplishment of the government’s land-distribution program from 1972 to 2017 reached 4.77 million hectares, or nearly 88 percent of the target area of 5.425 million hectares, according to the Philippine Statistics Authority (PSA).
— Business Mirror

Philippine navy to receive 2 anti-submarine helicopters
Two anti-submarine helicopters are due to be delivered to the Philippine navy in the first quarter of 2019, a navy spokesman said Tuesday.
— Khmer Times

8 foreigners, 24 Filipinos arrested in Pasig City over investment scam
Eight foreigners and 24 Filipino women were arrested for allegedly operating a “boiler room” for a multi-million investment scam targeting Australians at their office in Pasig City yesterday morning.
— The Philippine Star

Falling oil prices to ease economic pressures in Philippines
Falling oil prices would help ease economic pressures in the country in the coming months, starting off with inflation and the pressure on the central bank to further raise interest rates, London-based Capital Economics said in a report.
— The Philippine Star

Breakfast at risk: Philippines tries to turn the tide on fish losses
Dried fish for breakfast, fried to a crisp with a splash of spiced vinegar, garlic fried rice and a runny egg yolk, is the kind of breakfast that Filipinos who live abroad crave.
— Thomson Reuters Foundation

Feature photo UNICEF East Asia & Pacific

This week’s Philippines morning news feature photo acknowledges International Day for the Abolition of Slavery, December 2.

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 30 added by Stella-maris Ewudolu on November 30, 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.