Philippines morning news for September 18

Philippines morning news for September 18
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Philippines morning newsTyphoon Ompong threatens to deepen Philippine rice crisis
As Super Typhoon Mangkhut (known in the Philippines as Typhoon Ompong) continues its path of destruction the damaged fields and paddocks of Luzon, among others, doesn’t auger well for a country already in the grips of a food crisis, with the departing storm threatening to multiply possible malfeasance by the country’s National Food Authority (NFA) and its chief administrator.
— AEC News Today

Typhoon Mangkhut: More Than 40 Bodies Found in Philippines Landslide
Emergency workers in the Philippines recovered more than 40 bodies from the muddied wreckage of a gold miners’ bunkhouse after Typhoon Mangkhut set off a landslide, burying the remote northern town of Itogon in a river of debris, officials said on Monday.
— New York Times

ADB okays $484.3 million in loans, grants for PHL
The Asian Development Bank (ADB) said it has approved a total of $484.3 million in loans and grants for the Philippines as of August this year.
— Business Mirror

Bukidnon farmers ready to sell vegetables to Manila markets
Farmers in Bukidnon are set to deliver fresh vegetables for Metro Manila markets to fill up the expected shortages of the commodity from the typhoon-hit Cordilleras, the traditional source of vegetable supplies for Metro Manila and the rest of Luzon.
— Fresh Plaza

‘Ompong’ destroys P14-billion crops
Agricultural damage caused by Typhoon “Ompong” climbed to P14.27 billion, affecting more than half a million hectares of farmland with an estimated production loss of 731,294 metric tons, the Department of Agriculture reported Monday.

Philippine president repeats desire to ‘close all mining’ after landslides
Philippine President Rodrigo Duterte on Monday repeated his desire to shut all mines in the country following deadly landslides that some government officials and large miners said have been exacerbated by illegal small-scale mining.
— Reuters

QRCS gives $100,000 for typhoon victims in Philippines
Qatar Red Crescent Society (QRCS) has allocated $100,000 from its Disaster Response Fund for initial relief in response to Typhoon Mangkhut (Ompong), which hit northern Philippines three days ago.
— The Peninsula Qatar

Canadian charity group steps up with aid after typhoon devastates Philippines
A Canadian charity group is providing much-needed help to those in need in the Philippines after Typhoon Mangkhut devastated the country Saturday.

Major changes to expect as idyllic island reopens next month
THE island paradise of Boracay will reopen in October after a long hiatus — but tourists in the holiday hotspot might be in for a major disappointment.

EU, ASEAN, China ready to assist PH recover from ‘Ompong’
The European Union (EU), the Association of Southeast Asian Nations (ASEAN), as well as China, on Sunday expressed readiness to assist the Philippines in its recovery and relief operations as Typhoon “Ompong” (international name “Mangkhut”) battered northern Luzon.
— Philippine News Agency

P50-B ‘misplaced’ funds discovered in 2019 budget
Speaker Gloria Macapagal Arroyo wants to review the proposed P3.757-trillion budget for 2019, after receiving reports from congressmen that there are around P50 billion worth of “misplaced” funds distributed in several districts.
— Rappler

BIR sets 12% interest rate for delinquent, deficient tax payments
The Bureau of Internal Revenue (BIR) has issued rules mandating a lower delinquency and deficiency interest rate of 12 percent under the Tax Reform for Acceleration and Inclusion (TRAIN) Act.
— Philippine Daily Inquirer

Remittances up 3% in first 7 months
Cash remittances for the first seven months increased by three percent year-on-year to $16.6 billion from $16.09 billion, said Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr.
— Manila Bulletin

AgriNurture secures $1-billion rice import deal
Listed agricultural trading firm AgriNurture Inc. (ANI) has sealed a $1 billion rice import contract from Vietnam Southern Food Corp. in a bid to address supply issues in the country.
— The Philippine Star

PH rises to 10th spot in sustainable trade index
THE Philippines reached No. 10 in the 2018 Hinrich Foundation’s Sustainable Trade Index, which uses economic growth, environmental protection and social capital pillars to measure the readiness of the United States and 19 economies in Asia for sustainable trade.
— The Manila Times

‘Ompong’ death toll stands at 8: NDRRMC
National Disaster Risk Reduction and Management Council (NDRRMC) spokesperson Edgar Posadas on Monday said Typhoon Ompong has left eight persons dead as it barrelled through Northern Luzon last Saturday.
— Philippine News Agency

BOC releases seized rice, food items to DSWD for Ompong victims
The Bureau of Customs (BOC) has reported that seized food items in the bureau’s custody has been delivered to the Department of Social Welfare and Development (DSWD) for distribution to families affected by typhoon Ompong.
— Business Mirror

Housing loans hit P33B
Pag-IBIG Fund released P32.71 billion worth of housing loans in the first half of 2018, a 13 percent or almost P4 billion increase from about P29 billion in the same period in 2017.
— Malaya

Adult unemployment at 12.5 percent in Q2: SWS
Adult unemployment for the second quarter of 2018 was at 12.5 percent, based on the employment definition of the Labor Force Survey (LFS), the Social Weather Stations (SWS) said Monday.

P36-billion cut from DOH budget to shed 15,000 jobs of health workers
SENATORS took up the cudgels on Monday for 15,000 health workers about to be rendered jobless after the Department of Budget and Management (DBM) cut P36 billion in the Department of Health’s (DOH) 2019 budget.
— Business Mirror

Boracay business owners frown on requirement of sewerage treatment plants
Several business operators on Boracay Island object to another order by the Department of Environment and Natural Resources (DENR) requiring even small establishments to put up of sewerage treatment plants (STPs).
— Philippines Magazine

DOF expects P11 B from mining tax reforms
The Department of Finance (DOF) expects higher revenues once the proposed amendment to the existing fiscal regime covering all mining operations is passed into law.
— Manila Bulletin

‘Difficult for my common sense to accept’: former Philippine general slams Duterte’s move to abolish critic’s amnesty
Philippine presidential spokesman Harry Roque may have spoken too soon when he said a paid newspaper advert calling Senator Antonio Trillanes “a disgrace” to men in uniform “reflects the overall sentiment of the military”.
— South China Morning Post

DENR orders halt to small-scale mining in Cordillera
Environment Secretary Roy Cimatu on Monday said he has ordered a stop to all small-scale mining operations in the Cordillera Administrative Region.
— CNN Philippines

BOC donates 7K sacks of rice to typhoon victims
The Bureau of Customs (BOC) initially donated 7,000 sacks of rice to victims of Typhoon Ompong.
— Philippine News Agency

2018 current account deficit seen widening to $7.7B- $9.8B
The Philippines may incur a shortfall of as much as $9.8 billion in its economic transactions with the rest of the world this year, over three times larger than the level at which the Bangko Sentral ng Pilipinas aims to cap the current account deficit, a top economist from ING Bank said.
— Philippine Daily Inquirer

Lubao poor gain P1.21-million aid via DoLE sustainable livelihood funds
The marginalized sector of this coastal town received P1.21 million in financial assistance for their sustainable livelihood projects on Monday.

PH food products seen losing out to imports due to sugar woes
Sugar-based food products made here in the Philippines might lose to their imported counterparts from Southeast Asia partly due to the prohibitive price of domestic sugar.
— Philippine Daily Inquirer

‘The Butcher’ gets life sentence
MALOLOS, Bulacan: The Regional Trial Court (RTC) in Bulacan on Monday found retired Army major General Jovito Palparan Jr. guilty of kidnapping and serio2us illegal detention in connection with the disappearance of two University of the Philippines (UP) students in 2006.
— The Manila Times

BFAR ‘loses’ 57 patrol boats acquired from grant, loans
The Commission on Audit said in its annual report that the Bureau of Fisheries and Aquatic Resources (BFAR) has all but neglected and left to waste two batches of patrol boats it acquired from a foreign grant and loans.
— Rappler

Government spent P5 billion to subsidize power, steam, air-con companies in 2016
Filipino taxpayers extended P5 billion worth of subsidies to companies engaged in electricity, gas, steam and air-conditioning supply, according to the Philippine Statistics Authority (PSA).
— Business Mirror

Metrobank to offer P5B worth of high-yielding long-term deposit notes
Ty family-led Metropolitan Bank & Trust Co. is set to raise at least P5 billion from a fresh offering of high-yielding deposit notes, an exercise meant to diversify and lengthen its funding pool.
— Philippine Daily Inquirer

Duterte signs law dividing Cavite into 8 legislative districts
President Rodrigo Duterte has signed a law reapportioning Cavite into 8 legislative districts, ahead of the 2019 national and local elections.

‘Trabaho bill’ to force semicons to shed 140,000 jobs–industry bloc
THE irony is real—and could be costly. The government’s second tax-reform measure, dubbed the Trabaho bill in the House of Representatives version, will force the semiconductor industry to lay off 140,000 workers once fiscal incentives are rationalized.
— Business Mirror

PH firms bag P582M banana supply deals in Fujian
The Philippines obtained P582 million worth of supply agreements for banana from traders in Fujian, China.
— Malaya

First Gen says power users to save P10B with PNOC gas offer
LOPEZ-LED First Gen Corp. said its offer to buy the government’s banked gas at $3.48 per gigajoules could result in savings for electricity users of close to P0.60 per kilowatt-hour (kWh)or a total of around P10 billion for the period starting next month and early 2024, the year when the Malampaya gas-to-power contract ends.
— BusinessWorld Online


Feature photo UK Department for International Development (DFID)


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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.


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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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