Philippines morning news for October 29

Philippines morning news for October 29
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Philippines morning newsSignal no. 2 up in Northern Luzon as typhoon ‘Rosita’ nears landfall
Residents of Northern Luzon will have to brace for strong winds and heavy rains in the next two days as typhoon “Rosita” nears landfall, weather officials said.
— CNN Philippines

Deposits hit P12 trillion in first semester of 2018
DEPOSITS in the country grew to double digits in the first half of 2018, compared to its level last year, driving the expansion in the banking industry’s assets for the period.
— Business Mirror

Duterte temporarily puts Bureau of Customs under military control
President Rodrigo Duterte has put the Bureau of Customs (BOC) under the control of the Armed Forces of the Philippines (AFP).
ABS-CBN News (video)

PHL, Japan to sign ODA deal for MRT rehabilitation in Nov.
THE Department of Transportation (DoTr) on Sunday said it is ready to sign an agreement with the Japanese government for the use of official development assistance (ODA) to fund the rehabilitation of the Metro Rail Transit Line 3 (MRT-3) following the initial roll out of new trains.
— BusinessWorld Online

Telco to close P9B deal in November
PLDT Inc. expects to close next month the deal with global investment firm KKR and Chinese internet firm Tencent Holdings Ltd. which will jointly invest up to $175 million (about P9.4 billion) in its digital arm Voyager Innovations Inc., operator of PayMaya.
— Malaya

41% of PHL SDG indices lack gender-related data
THE Philippines, along with other countries in Asia and the Pacific, lack data for 41 percent of gender-related Sustainable Development Goal (SDG) indicators, according to the Asian Development Bank (ADB) and UN Women.
— Business Mirror

MRT 3 deploys first train from China’s CRRC Dalian
The Transportation Department said it began deploying the first train made by China’s CRRC Dalian on Metro Rail Transit Line 3 after ensuring it is safe for public use.

PH’s second microsatellite launched into space today
The Philippines will launch today the DIWATA-2 microsatellite, marking the country’s third venture into space under the P840-million PHL-MICROSAT Program of the Department of Science and Technology (DOST).
— Manila Bullein

Impose limits, hike cost of visiting Boracay–economists
INTERVENTIONS, such as increasing the cost of visiting Boracay and limiting the number of tourists in the island, will prevent its degradation, according to local economists and an official of the National Economic and Development Authority (Neda).
— Business Mirror

CTA orders BIR to refund nearly P13 million to PAL
THE COURT of Tax Appeals (CTA) sitting en banc has ordered the Bureau of Internal Revenue (BIR) to refund nearly P13 million to Philippine Airlines, Inc. (PAL), affirming a ruling of the court’s first division.
— BusinessWorld Online

Trade dep’t makes pitch for TRABAHO bill incentive retention
THE DEPARTMENT of Trade and Industry (DTI) is hoping to reach a compromise with the Department of Finance (DoF) on provisions of the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) Bill, which seeks to rationalize investment incentives.
— BusinessWorld Online

ANZ: Low savings rate leaves PH vulnerable
THE Philippines’ declining savings rate is exposing the country to external vulnerabilities, Australia-based ANZ Research said in a report explaining external balances in Asia.
— The Manila Times

Tollway firm sets P2B SCTEX upgrade
Metro Pacific Tollways Corp. (MPTC) is allocating P2 billion for a road widening project on the Subic-Clark-Tarlac Expressway (SCTEX) construction of which will start this year.
— Malaya

DOF pushes nuke option to cut power cost
THE Department of Finance (DOF) said the government is studying the idea of reviving the Bataan Nuclear Power Plant (BNPP) in a bid to help bring down power rates in the country.
— Business Mirror

WPP coverage mulled for 8 massacre witnesses
Police are considering to recommend placing eight witnesses in the Sagay massacre under the government’s witness protection program (WPP).
— The Philippine Star

Yields on gov’t debt drop
YIELDS ON government securities declined last week following a correction, even amid a more hawkish central bank.
— BusinessWorld Online

20 provinces in Luzon identified as ‘potential risk areas’ due to typhoon Rosita
NINE PROVINCES in the northern Luzon area have been placed under the highest alert level as typhoon Rosita (international name: Yutu) passes through the northern part of the Philippines in the next couple of days.
— BusinessWorld Online

UCPB-CIIF loans to small coconut farmers reach P279M in Q3
UCPB-CIIF Finance and Development Corp.’s loans to small coconut farmers hit P279 million at the end of the third quarter of the year, the social-development arm of United Coconut Planters Bank (UCPB) said in a statement.
— Business Mirror

DA beefs up technology for onion production
The Department of Agriculture (DA) is strengthening technological advancement for local onion production to help boost the national requirement for the commodity.
— The Philippine Star

Bill banning early campaign nears passage
In a blow to attention-seeking politicians, the Senate is a step closer to passing a bill that would “criminalize” early campaigning by electoral candidates, including the placement of political advertisements long before the election period.
— Philippine Daily Inquirer

NY solar firm, Cebu manufacturer ink deal
A New York-based solar energy firm has signed a contract with a food manufacturer in Cebu covering a 100-kilowatt solar rooftop system, as more businesses turn to producing their own electricity.
— Philippine Daily Inquirer

Void Bangsamoro law, Sulu asks SC
The Province of Sulu has asked the Supreme Court (SC) to review the legality and constitutionality of the Bangsamoro Organic Law (BOL), the result of peace negotiations between the government and the Moro Islamic Liberation Front.
— The Manila Times 


Feature photo Jes Aznar

This week’s Philippines morning news feature photo acknowledges International Day to End Impunity for Crimes against Journalists, 2 November.


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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