Philippines Morning News For October 18

PH ranked 5th best economy in Southeast Asia
The Philippines ranked 56th out of 149 countries in the latest Global Competitiveness Report, while also ranking the 5th most competitive economy in Southeast Asia.
— Philippine Daily Inquirer

PH Navy ship leaves for ASEAN-China exercise
A Philippine Navy officer waves at the departing landing ship BRP Dagupan City with Navy troops on board during the send-off ceremony at Sangley Point, Cavite on Wednesday.
— ABS-CBN News

PH inks oil exploration deal with Israeli firm
Department of Energy (DOE) Secretary Alfonso G. Cusi attended today the Ceremonial Signing of the Petroleum Service Contract (PSC) for Area 4 (East Palawan Basin) of the Fifth Philippine Energy Contracting Round (PECR5) at the Presidents’ Hall of Malacanan Palace.
— Philippine Information Agency

PHL has highest fertility rate, 2nd largest population in ASEAN — 2018 UNFPA report
Despite having the passage of the landmark Reproductive Health Law, the Philippines continues to lag behind its ASEAN neighbors in providing life-saving and life-changing services for its citizens in terms of reproductive health.
— GMA News Online

DOF expects Trabaho bill to create 1.4 million jobs
The Department of Finance (DOF) expects around 1.4 million jobs to be created between 2021 and 2029, should the Tax Reform for Attracting Better and High Quality Opportunities (Trabaho) bill be enacted into law.
— Rappler

Philippines moves up on Global Food Security Index
As the country suffers from rising food prices due to tight supply of basic goods, a global metrics on food security believes the Philippines has improved its capacity to feed its people.
— The Philippine Star

DSWD’s P1-B medical program guidelines tweaked to cover wider needs
The Department of Social Welfare and Development (DSWD) amended the guidelines to avail of Lingap at Gabay Para sa May Sakit (LinGAP sa MaSa), redefining the program to include the provision of prosthesis, assistive devices, radiology, and chemotherapy, Secretary Virginia N. Orogo said Wednesday.
— Philippine News Agency

Philippines-Japan food trade: South East Asian nation must meet safety standards to benefit from export market
The Philippines Department of Trade and Industry (DTI) is striving to educate food firms on Japan food safety standards in a bid to reap export rewards.
— FoodNavigator-Asia.com

Filipino educators in Thailand urge fellow OFWs: Know your rights, seek higher learning
“The Filipino teachers are probably the best teachers in the world. They are not only qualified, equipped with the credentials required by the Teacher’s Council in the case of Thailand, but armed with the most important qualification – the love for teaching and the passion to make their students learn and prepare not only for the university, the industry but to live their lives to the fullest,” says Dr. Robert Galindez, CEO of Saint Robert’s Group of Companies in Thailand.
— The Nation

Philippines fines Grab, Uber for rushed merger, worse service
The Philippines’ competition watchdog fined ride-hailing firms Grab and Uber Technologies on Wednesday, saying they consummated their merger too soon and that the quality of service dipped, becoming the second regulator in the region to penalise them.
— Bangkok Post

Sales of ABS-CBN TVplus boxes exceed 6M
ABS-CBN CORP. said on Wednesday it has sold a cumulative total of 6.1 million units of its TVplus boxes as of October, over three years since the media giant launched its digital terrestrial television (DTT) service in 2015.
— BusinessWorld Online

Roque files Senate bid; hopes to get PRRD endorsement
Former Presidential Spokesperson Harry Roque is hoping to get the endorsement of President Rodrigo Duterte in his bid for a Senate seat in the 2019 mid-term elections.
— Philippine News Agency

US projects 2018 PHL dairy imports at 2.7 MT
PHILIPPINE imports of dairy products are estimated at 2.7 metric tons of liquid milk equivalent (MT LME), up from 2.5 million in 2017 the United States Department of Agriculture (USDA)’s Global Agricultural Information Network (GAIN) said.
— BusinessWorld Online

ASEAN, Philippines leaders urged to re-assess climate targets
Former senator and Climate Change Commission head Heherson Alvarez has called on policymakers in Southeast Asia to reassess their commitments to address the threat of climate change.
— The Philippine Star

BPI eyes P15B from first tranche of bond program
THE Bank of the Philippine Islands (BPI) is looking to raise P15 billion from the first tranche of its P50-billion bond and commercial paper program.
— The Manila Times

Boracay resort group to face legal action over fake documents to operate
The Boracay Inter-Agency Task Force is planning to take legal action against a resort company for allegedly faking papers so it could operate on the island.
— CNN Philippines

Fil-Am developed staffing app for nurses, caregivers launches in PH
After a successful launch among New York nursing home facilities last year, BackApp, an around-the-clock staffing solution has been launched in the Philippines.
— Inquirer.net

LTFRB okays P10 minimum jeepney fare
The Land Transportation Franchising and Regulatory Board (LTFRB) approved on Wednesday a PHP2 fare increase for public utility jeepneys.
— Philippine News Agency

Northern Mindanao wage board okays P27 to P35 pay hike effective November 1
Minimum-wage earners in Northern Mindanao will finally get another round of wage increase next month.
— Business Mirror

Fintech innovations to push financial inclusion across the Philippines
E-wallets, blockchain and other innovations in finance technology (fintech) will continue to grow in significance and become key drivers in pushing forward financial inclusion in the Philippines, according to various presenters at Seamless Philippines 2018.
— The Philippine Star

Marawi residents hold protest on eve of liberation anniversary
Some displaced residents of Marawi express their disappointment over the government’s alleged slow efforts to rehabilitate the war-torn city.
— CNN Philippines (video)

SM to develop 10 hectares in Clark
Property developer SM Prime Holdings Inc. signed a sublease agreement with Global Gateway Development Corp. of businessman Dennis Uy to develop 10 hectares in Clark Freeport Zone in Pampanga province.
— Manilastandard.net

DA gives more incentives to farmers
The Department of Agriculture (DA) has committed to improve government support to local farmers to boost the country’s rice buffer stocks and ensure the presence of affordable rice in the market.
— The Manila Times

Duterte mulls release of narco-politicians’ names ahead of 2019 polls
President Rodrigo Duterte is “evaluating” the pros and cons of the proposal of the Dangerous Drugs Board (DDB) to release the names of the so-called “narco-politicians” ahead of the 2019 midterm elections, Malacañang said Tuesday.
— Inquirer.net

Traders warn that safeguard duty will hike cement prices
Cement traders have warned government that imposing safeguard duty on imported cement will be inflationary as it would trigger increases in prices of construction materials, contributing to the worsening inflation level in the country.
— Manila Bulletin

Term deposit yields decline on demand
YIELDS FETCHED for term deposits declined this week amid strong demand, with banks willing to park more funds with the central bank even for longer periods.
— BusinessWorld Online

Petron raises P20 billion from bond offering
Petron Corp., the country’s biggest oil refiner, has raised P20 billion from its bond offering to refinance debt.
— The Philippine Star

PHL bans birds, game fowl from California
To protect the local poultry sector, the Philippines has closed its borders to domestic and wild birds, including game fowl, coming from California, following the detection of a dreadful avian disease in that US state.
— Business Mirror

PAL to mount direct flights to New York starting Oct. 29
FOUR-STAR carrier Philippine Airlines (PAL) will mark another milestone in aviation history as the first airline to mount a direct nonstop service from the Philippines to the Big Apple starting October 29.
— Business Mirror

Gov’t eyes palay silos, early planting season
Department of Agriculture (DA) Secretary Emmanuel Piñol is proposing the establishment of state-run grain silos in the country through the National Food Authority (NFA).
— Malaya

Feature photo cornellcurrent

This week’s Philippines morning news feature photo acknowledges International Day for the Eradication of Poverty, October 17.

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 October 18 added by Stella-maris Ewudolu on October 18, 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.