Philippines morning news for September 3

Philippines morning news for September 3
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Philippines morning newsGSIS allots P1.8 billion in loans to Luzon typhoon victims
The Government Service Insurance System has allotted P1.84 billion in emergency loans for its active members and old-age pensioners affected by calamities in seven areas in Luzon.

Government debt piles up to over P7 trillion in July
The national government’s debt pile rose further to another record-high of P7.044 trillion as of end-July due to net availment of both domestic securities and foreign loans, the Bureau of the Treasury said.
— The Philippine Star

ADB approves Malolos-Clark rail assistance package
THE ASIAN DEVELOPMENT Bank (ADB) has approved a $2-million technical assistance grant for the 51-kilometer Malolos-Clark railway.
— BusinessWorld Online

Economist projects August inflation at 5.8%
A senior economist of IHS Markit expects that inflation in August further climbed from the five-year high rate of 5.7 percent in July.
— Philippine News Agency

Duterte arrives in Israel for ‘historic’ visit
President Rodrigo Duterte arrived here before dawn Monday (Philippine time) for a four-day historic visit.

Economists see no easing in rising consumer prices
Inflation last month remained elevated and likely touched the six percent mark on the back of rising oil and food prices, higher electricity rates as well as the weak peso, according to economists.
— The Philippine Star

PH, China to sign industrial parks deal
Manila will soon sign an agreement with Beijing involving the establishment of Chinese industrial parks in the Philippines, the chief of the Bases Conversion and Development Authority (BCDA) said.
— The Manila Times

PCSO cuts medical assistance budget
Thousands of beneficiaries are expected to be affected by the sudden reduction in the daily budget of the medical assistance program of the Philippine Charity Sweepstakes Office (PCSO).
— The Philippine Star

Subic investors turned off by TRAIN 2
Investors are considering leaving Subic Bay Freeport because of the “business-threatening impact” of the proposed second package of the Tax Reform for Acceleration and Inclusion (TRAIN) law.
— Philippine Daily Inquirer

Value of PHL construction projects down 12.1%
The total value of construction projects in the Philippines declined by 12.1 percent on an annual basis as residential condominium construction slowed in 2017, according to the Philippine Statistics Authority (PSA).
— Business Mirror

Ilocos suffers P441M in damage due to intensified monsoon rains
MORE THAN P441 million worth of damages due to weeks of monsoon rains intensified by tropical depressions and storms were reported by the Ilocos Norte Provincial Resiliency Office.
— BusinessWorld Online

Duterte warns rice traders against “artificial scheme”
President Rodrigo Duterte warned traders who would take advantage of the country’s rice situation.
— CNN Philippines

Manila to host Asean Biodiversity Heroes forum
The Asean Centre for Biodiversity (ACB) will hold the Asean Biodiversity Heroes Regional Forum in Manila on September 4 and 5.
— Business Mirror

DENR backs ordinance banning single-use plastics in Boracay
The Department of Environment and Natural Resources (DENR) on Sunday expressed support to the initiative of the local government unit (LGU) of Malay in Aklan province to ban single-use plastics in Boracay and the rest of the municipality.
— Philippine News Agency

RCEP countries to sign e-commerce deal in Nov.
The Philippines and other Asean members are poised to sign with the region’s dialogue partners in November an agreement on the electronic commerce (e-commerce) chapter of the Regional Comprehensive Economic Partnership (RCEP), according to Ramon Lopez, secretary of the Department of Trade and Industry (DTI).
— Malaya

‘Higher fines urged vs smuggling of Philippine marine resources’
Some 1,800 pieces of live hard and soft corals, and three giant clams worth around $54,000 (P2.7 million) were confiscated by the Philippines’s National Bureau of Investigation (NBI) from a suspected smuggler in August, the Asean Centre for Biodiversity (ACB) said, citing news reports.
— Business Mirror

Fiscal perks overhaul seen keeping investors on edge
THE PHILIPPINES still receives the least foreign direct investments (FDI) among Southeast Asian nations, a global bank has noted, pinning the blame on constitutional restrictions and uncertainty over a new system for tax perks.
— BusinessWorld Online

Manila hands out PSI implants for families
In line with President Rodrigo Duterte’s order to intensify access to modern family planning, Manila Mayor Joseph Estrada led the city’s Family Month celebration, where the latest family planning method, Progestin Subdermal Implants, were given for free to qualified beneficiaries.

Duterte rejects controversial proposal to legalize rice smuggling
President Duterte has rejected a controversial proposal to legalize rice smuggling, saying it would damage local economy and promote disorder in the country.
— Manila Bulletin

FAO, PH gov’t launch 6-year plan on greater food security, improved nutrition
The United Nations’ Food and Agriculture Organization (FAO) and the Philippine government have launched a six-year plan that will contribute to achieving greater food security and improved nutrition, and further develop the country’s agricultural sector.
— Manila Bulletin

The dark side of blogging
Social media is big in the Philippines. According to United Kingdom (UK)-based consultancy We Are Social’s Digital 2018 report (which compiles data from various third-party sources), the Philippines topped the world for the third year in a row in terms of social media usage as the average Filipino spends about four hours a day on social media.
— The Asean Post

Government bans pork imports from 6 countries
The Department of Agriculture (DA) has issued a temporary ban on the importation of domestic and wild pigs and their products from China, Latvia, Poland, Romania, Russia and Ukraine following outbreaks of African swine fever (ASF).
— The Philippine Star

PH seeks lower duties on bananas to SoKor
The Philippines has renewed its request to Korea for lower tariffs on banana exports.
— Malaya

Filipino domestic helper sues HK employer for forcing her to resign due to pregnancy
A 37-year-old Filipino domestic helper filed charges against her employer in Hong Kong for coercing her to resign after she got pregnant.
— Philippines Magazine

Team PH basks in golden glory, but more work to do
The Philippines pulled off an unexpected four-gold medal harvest in the 2018 Asan Games that came to a close on Sunday, September 2, but the improved performance was still lacking in almost all departments.
— Rappler

Philippines asked to ease foreign restrictions
The Philippines receives the least amount of foreign direct investments in Southeast Asia because of constitutional restrictions on foreign ownership in several industries, Hongkong and Shanghai Banking Corp. said in a report over the weekend.

Passenger ferry with 124 people on board catches fire in central Philippines
A passenger ferry with 124 people on board caught fire on Sunday near the Argao Pier in Cebu province in the central Philippines, the Philippine Coast Guard spokesman said.
— Global Times

PH to court American, African investors next on petroleum contracting
Following a productive first leg of its international roadshow in Singapore, the Department of Energy (DOE) will be courting American and African investors next on the country’s petroleum contracting.
— Manila Bulletin

BOC chief: Smuggling won’t solve rice woes
Customs Commissioner Isidro Lapeña said he supported the idea of establishing rice trading posts in Sulu and Tawi-Tawi provinces but was opposed to the unbridled entry of imported rice without payment of duties.
— Philippine Daily Inquirer

Taiwan’s Yulon invests in car financing in PH
Yulon Group, one of Taiwan’s leading conglomerates is investing an initial $50 million in the Philippines in what could be the country’s first independent car financing company as it anticipates strong potential for efficient car financing amid a robust car market.
— Manila Bulletin

1 dead, multiple people hurt as blast rocks Sultan Kudarat town anew
An explosion rocked anew the Sultan Kudarat town of Isulan Sunday evening, killing one person, a report from the Police Regional Office 12 said.
— Northbound Philippines


Feature photo Benson Kua


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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