Philippines morning news for September 24

Philippines morning news for September 24
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Philippines morning newsTyphoon Paeng enters Philippines, may affect Northern Luzon
Typhoon Paeng entered the Philippine area of responsibility yesterday and is expected to hit extreme Northern Luzon this weekend.
— The Philippine Star

Philippine Inflation Could Rise To 7%, Only Lagging Myanmar’s In ASEAN
Filipinos are increasingly forced to tighten their belts in the wake of a continued high inflation rate which reached 6.4 per cent in August and could exceed seven per cent in September, according to analysts’ estimates.
— Investvine

Mangkhut toll 155 in Philippines
At least 155 people have been killed in landslides and other accidents caused by Typhoon Mangkhut and monsoon rains in the Philippines.

Digging continues as Cebu landslide death toll rises to 45
The death toll from a landslide in this city climbed to 45 on Sunday, as authorities dug for the fourth straight day for dozens feared trapped beneath tons of rock and soil.
— ABS-CBN News

ADB OKs $300-M loan for financial services
The Asian Development Bank (ADB) has approved a $300 million loan to support the government’s effort to expand the delivery of financial services in the country.
— The Philippine Star

Duterte urged to declare state of calamity in Typhoon Ompong-hit regions
The National Disaster Risk Reduction and Management Council (NDRRMC) has submitted their proposal to President Rodrigo Duterte for the declaration of a state of calamity in all 4 regions of northern Luzon that were hammered by Typhoon Ompong (Mankhut).
— Rappler

DBP allots P500 million for scholarship program
The Development Bank of the Philippines (DBP) is strengthening its Corporate Social Responsibility program for education through a new P500-million scholarship initiative targeting underprivileged high school graduates across the country.
— Manila Bulletin

Neda to spend P155 million for 3 project feasibility studies
The National Economic and Development Authority (Neda) said it will spend P155 million to conduct feasibility studies for three new infrastructure projects.
— Business Mirror

Gov’t awards 100K MT rice imports for Mindanao
The government has awarded 21 suppliers with the importation of 100,000 metric tons (MT) of rice for Zamboanga, Basilan, Sulu and Tawi-Tawi after an auction conducted by Land Bank of the Philippines and the National Food Authority (NFA).
— Malaya

Philippines landslides after Typhoon Mangkhut could end the hunt for gold
A series of landslides that have killed at least 70 people in the northern Philippines has triggered a debate that could bring an end to small-scale gold mining in the region.
— ABC News

Govt debt payments down 52.6% to P47.2B in July – Treasury
Government debt payments dropped in July due to lower amortization, data from the Bureau of the Treasury showed.
— The Manila Times

Leave danger zones, Itogon villagers told as another typhoon looms
Some families heeded the order to evacuate three communities here tagged as “danger zones” due to the threat of more rains this week from Typhoon “Paeng,” Mayor Victorio Palangdan said on Sunday.
— Philippine Daily Inquirer

37 firms qualified to bid for 3rd telco
Foreign firms eyeing to join the bid for the country’s third telecom player could partner with any of the more than 30 local telecom firms with valid congressional franchises to operate fixed and mobile telecommunication service nationwide.
— Malaya

PH startups get a crack at $1-million pitch in Oz confab
A million Australian dollars, or approximately P39 million, may be the boost that struggling Philippine startups need — to develop their core business, widen their market reach and launch their company into the global arena.
— The Manila Times

DBP allots P15 B for ICONS program
State-run Development Bank of the Philippines (DBP) has extended P15 billion in loans to local contractors working on infrastructure projects in the country, a top official said on Friday.
— The Philippine Star

Philippines posts 15 percent drop in cash remittance from Middle East
Cash remittance from Filipino workers (OFW), particularly those in the Middle East, saw a steep decline from January to July this year, figures from the Central Bank of the Philippines (BSP) show.
— Arab News

Philippines landslide: Anger over quarry operations in area
A temporary ban on quarrying has been imposed in the Philippines following two major landslide disasters in the past week.
— Aljazeera

SSS releases P50M in loans for elderly, more branches accepting applications
THE Social Security System (SSS) has released P49.78 million worth of pension loans to nearly 2,000 qualified member-pensioners in the first 12 days of pilot implementation of the Pension Loan Program (PLP), which was launched earlier in the month.
— Business Mirror

PH officials to court British investors
Cabinet officials led by Finance Secretary Carlos G. Dominguez III will hold a three-day visit to United Kingdom this week to brief British investors on the business opportunities in the Philippines.
— Manila Bulletin

78% of Pinoys satisfied with drug war – SWS
Despite worldwide criticism, a majority of Filipinos remained satisfied with the Duterte administration’s campaign against illegal drugs, according to the second quarter survey of the Social Weather Stations (SWS).
— The Philippine Star

Analysts expect fresh 50bp rate hike
THE BANGKO SENTRAL ng Pilipinas (BSP) will likely raise interest rates by another 50 basis points (bp) this week, according to most analysts in a BusinessWorld poll, citing inflation fueled by damage from the storm that ravaged Northern Luzon the other week and unrelenting oil price hikes.
— BusinessWorld Online

AFP: Reds set to launch another oust-Duterte move
A MILITARY official yesterday said the political opposition and the Church recently cut ties with a communist coalition which is allegedly aiming to oust President Duterte.
— Malaya

NBI files illegal recruitment raps vs. shipping firm
The National Bureau of Investigation (NBI) has filed criminal cases against five officials of a shipping company that have been found to be recruiting applicants without a license to operate.
— Philippine News Agency

Stage set for third telco selection in Philippines
THE PHILIPPINES’ Duterte administration has published the final rules governing its major telecom initiative, setting the stage for a showdown among aspiring companies seeking to become the country’s third major telco player in a bidding that could happen as early as November this year.
— The Nation

‘Most disabled Filipinos can’t afford healthcare, drugs’
Persons with disability in the Philippines struggle to access medications despite discounts and benefits provided for them, a health research forum heard.

Duterte blasts JCC as “a bunch of criminals”
Philippine President Redrigo Duterte has stepped up his attacks against the International Criminal Court (ICC), calling the tribunal “a bunch of criminals” trying to investigate his war on drugs, according to The Manila Times Online.
— Thai PBS World

Gov’t sets road show in London
THE PHILIPPINES will hold an investor road show this week in London to drum up interest in infrastructure, energy, and tourism opportunities in the country, the Department of Finance (DoF) said in a statement over the weekend.
— BusinessWorld Online

PDIC sets auction of P320 million assets
State-run Philippine Deposit Insurance Corp. (PDIC) is disposing P320 million worth of foreclosed assets including residential, commercial, and even memorial lots in the next two months.
— The Philippine Star

Philippines feels the heat from hackers
Among all ASEAN member countries, the Philippines is said to be the most susceptible to cyberattacks.
— The Asean Post

PITC asks for lower tariff on imported rice
The Trade Department, through the Philippine International Trading Corp., is asking for a tax expenditure subsidy to reduce the cost of importing 150,000 metric tons of rice.


Feature photo U.S. Marine Corps Forces, Pacific

This week’s morning news feature photo acknowledges World Rabies Day, September 28.


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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