Philippines Morning News For September 13

Philippines: 10 million people in the path of Mangkhut
Thousands of people will be evacuated as the most powerful typhoon so far this year roars towards the northern Philippines, officials said.
— Aljazeera

IFC extends $40 million loan for healthcare
The Philippine units of Singapore-based healthcare firm Fullerton Health have secured a $40 million long-term loan facility from the International Finance Corp. (IFC)—the private sector arm of the World Bank Group.
— The Philippine Star

PSALM shells out P7 million to indemnify families affected by 2013 oil spill in Iloilo
THE Power Sector Assets and Liabilities Management Corp. (PSALM) has shelled out over P7 million worth of indemnities to the families and enterprises in Estancia, Iloilo, affected by the oil spill from Power Barge (PB) 103 at the height of Supertyphoon Yolanda in November 2013.
— Business Mirror

Philippine President Seeks Advice As Country Faces Mounting Economic Troubles
hilippine President Rodrigo Duterte, who previously had confessed his inadequacy on economic issues, is seeking help from people more fit in the subject.
— Investvine

Duterte to sign order to tame price hikes
President Rodrigo Duterte is expected to sign an Executive Order (EO) aimed at taming the soaring inflation in the country, his spokesman said on Wednesday.
— The Manila Times

Ompong’s worst seen to shut down Naia
THE Ninoy Aquino International Airport (Naia) will be closed to operations when Typhoon Ompong (international code name Mangkhut), with the potential of developing into a super typhoon, strikes the country.
— Business Mirror

Joblessness drops to 19.7% in Q2 2018: SWS
Joblessness among adult Filipinos decreased in the 2nd quarter of 2018, the Social Weather Stations (SWS) said Wednesday.
— ABS-CBN

BOC seizes P300M worth of imported rice
The Bureau of Customs (BOC) and the Philippine National Police (PNP) raided several warehouses in Marilao, Bulacan last September 11, after receiving information that large quantities of smuggled rice are stashed inside.
— Malaya

P2-B maritime school rises in Cavite
A Japanese-Philippine business collaboration has given rise to a maritime school that offers state-of-the-art equipment and professional training for seafarers.
— Philippine Daily Inquirer

BIR loses P17M tax case due to sloppy audit
The Court of Tax Appeals (CTA) has voided the more than P17 million deficiency tax assessment imposed by the Bureau of Internal Revenue (BIR) against an advertising agency due to incorrect audit procedure.
— Manila Bulletin

5 foreign firms bid to build Zamboanga coal-fired plant
ALSONS Power Group, the energy business of the Alcantara family, has received bid proposals for the engineering, procurement and construction (EPC) of its 105-megawatt (MW) San Ramon Power Inc. (SRPI) coal-fired power plant in Talisayan, Zamboanga City.
— Business Mirror

Boracay visitors limited to 6,000 a day
Planeloads of tourists can’t just descend on Boracay’s beaches when the rehabilitated island reopens on Oct. 26.
— Philippine Daily Inquirer

Saso, golfers donate P13-m prize to NGAP
Asian Games gold medalists Yuka Saso and members of the national women’s golf team are donating all of their P13-million incentive to the National Golf Association of the Philippines.
— Manilastandard.net

Malacañang OKs anti-inflation measures
Malacañang is amenable to several measures put forward by the economic team to curb inflationary pressures, the National Economic and Development Authority (NEDA) said yesterday.
— The Philippine Star

DTI: Price increase on basic goods on hold for next 3 months
There will be a moratorium on the price increase of some basic goods, including bread, canned sardines, and milk, in the next three months, a trade official said Wednesday.
— Manila Bulletin

Palace readies EO to ease food import process
PRESIDENT Rodrigo R. Duterte may issue an executive order (EO) to address inflation by removing “administrative constraints and non-tariff barriers” on the import of basic goods.
— BusinessWorld Online

BSP mandates use of PESONet, Instapay
Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) offering electronic payments have been told to make the automated clearing houses of the National Retail Payments System (NRPS) available on their e-channels by the end of November.
— The Manila Times

SMC ready to enter rice trading in response to food security SOS
Conglomerate San Miguel Corp. (SMC) plans to enter the rice trading business and expand its chain of grain storage facilities nationwide, citing the need to contribute to the country’s food security while stabilizing the prices of the main staple.
— Philippine Daily Inquirer

Econ team mulls less tarrifs: Move aims to cushion impact of rising prices
The Cabinet economic cluster is looking at possible amendments to the Fisheries Code and the tariffication policies on imported fish, meat, sugar and vegetables to cushion the impact of the rising prices of food and agricultural products and arrest inflation.
— Malaya

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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 September 13 added by Stella-maris Ewudolu on September 13, 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.