Philippines Morning News For September 6

Inflation surges to 6.4% in August 2018, exceeds estimates
Inflation or the increase in the prices of goods climbed to
another 9-year high, hitting 6.4% in August.
— Rappler

PH signs ₱4.4 billion investment deals with Israel
The country has signed $82.9 million or roughly ₱4.4 billion worth of investment deals from Israeli businesses in the wake of President Rodrigo Duterte’s official visit to Israel.
— CNN Philippines

Gov’t spending peaks by 34% to P328.1 billion in July 2018
The Philippine government has reached its peak on spending, with disbursements amounting to P328.1 billion in July or a 34% increase from the same period in 2017.
— Rappler

Government posts budget deficit of P279.4 billion for January-July
THE government’s budget deficit from January to July 2018 stood
at P279.4 billion, up by P74.4 billion or 36.3 percent from 2017, data from the Department of Budget and Management (DBM) showed.
— Business Mirror

Senate okays P1.161B for Dengvaxia cases
THE Senate, voting unanimously, passed on third and final reading House Bill 7449 allocating P1.161 billion for children inoculated with Dengvaxia vaccines.
— Malaya

Philippine Senator Antonio Trillanes defies Rodrigo Duterte’s arrest order in stand-off
A Philippine senator who is President Rodrigo Duterte’s fiercest critic remained holed up in the Senate on Wednesday to avoid what he considers an illegal arrest after Duterte voided his amnesty for his role as a rebel military officer.
— South China Morning Post

7M Pinoys seek additional jobs
The number of underemployed persons in July rose by around half a million from its year ago level, as more Filipinos seek to have more hours of work or to have an additional job, the latest Labor Force Survey (LFS) showed.
— Malaya

PH to import 250,000 metric tons of rice by November
An additional 250,000 metric tons of rice will be imported to the country.
— CNN Philippines

Philippines to import extra 250,000 tons of rice
The Philippines will import an additional 250,000 tons of rice via an open tender, the state grains procurement agency said on Wednesday, as the government rushes to boost domestic supply and curb rising retail prices of the staple grain.
— ABS-CBN

Port cargo volume up 2% in 7 months
Volume of cargo at the country’s ports posted an uptick in the first seven months behind sluggish local and foreign trade, according to the Philippine Ports Authority.
— The Philippine Star

Senate okays P1.1-billion DOH budget
Senators, voting 18-0, approved on third reading Wednesday P1.161 billion supplemental funding for the Department of Health’s anti-dengue Dengvaxia vaccine inoculation drive.
— Business Mirror

Nestle threatens to close Philippine plant, as it seeks tax breaks
Nestle has threatened to shut down its coffee processing plant in the Philippines unless it receives tax incentives from the government.
— Nikkei Asian Review (paywall)

Petron wins P4.42-B petroleum supply contract from DND
The Department of National Defense (DND) has ruled to award the P4.416 billion worth of petroleum, oil and lubricants (POL) procurement contract to leading oil firm Petron Corporation after establishing that its lower cost offer will be highly
advantageous to the government agency.
— Manila Bulletin

Chamber opposes China-funded Binondo-Intramuros bridge
The proposed construction of the Binondo-Intramuros Bridge, one of two China-funded projects across Pasig River, has been strongly opposed by a business group and other stakeholders saying it will destroy the protected historical building,
structures and sites of Intramuros.
— Manila Bulletin

July sees sustained double-digit growth pace for manufacturing — state data
THE COUNTRY’s manufacturing activity sustained its double-digit growth pace for the seventh straight month in July, the government reported on Wednesday.
— BusinessWorld Online

Higher tobacco tax to fund UHC, reduce number of smokers
Increasing tobacco tax will fund the universal health care program (UHC) and lower the number of smokers in the country, Health Secretary Francisco Duque III said on Wednesday.
— Philippine News Agency

Unemployment rate eases in July
The country’s labor force improved in July this year as unemployment eased, data from the Philippine Statistics Authority (PSA) showed yesterday.
— Manila Bulletin

Philippines is finally getting Amazon Prime Video with Globe
If you’re in the Philippines, you’ll likely feel like you’re missing out.
— Fansided

POEA orders OFW deployment ban to Micronesia
The Philippine Overseas Employment Administration (POEA) has ordered a total deployment ban to the Federated States of Micronesia due to reports of abuses and maltreatment on overseas Filipino workers (OFWs) in the nation.
— Philippine News Agency

PH will only buy military equipment from Israel: Duterte
President Rodrigo R. Duterte on Tuesday bared that he has ordered the military to purchase equipment only from Israel.
— Philippine News Agency

Higher inflation seen to plunge more Pinoys into poverty this year
MORE Filipinos may fall deeper into poverty this year, given the high commodity prices being experienced by households nationwide for the past eight months, local economists said, as the economy posted a nine-year high inflation rate on
Wednesday.
— Business Mirror

Piñol: Nat’l food security plan needed
The Agriculture department wants to craft a national food security plan to prevent a repeat of a rice crisis that recently hit the southern Philipines.
— The Manila Times

San Miguel reveals extensive facilities expansion plans to boost production capacity
San Miguel Food and Beverage (SMFB) will plough resources into building new company-owned production facilities in the Philippines in an effort to tramp-up production and help boost exports.
— Food Navigator-Asia

Manny Villar is No. 2 in Forbes’ 2018 PH Rich List After Net Worth Triples to $5-B
Real estate tycoon and former senator Manuel Villar is now worth $5 billion (Php267.3 billion), according to the newest Philippine rich list published by business magazine Forbes.
— Entrepreneur Philippines

SSS seeks additional funding sources
The Social Security System (SSS) has asked Congress to provide the state fund with additional sources of financing amid the imminent approval of a bill that will extend the maternity benefit coverage of members.
— The Philippine Star

TDF rates up as demand weakens
RATES FETCHED for term deposits climbed anew this week as demand dropped from last week to come up short of the total offer following the release of the August inflation print.
— BusinessWorld Online

Berjaya PH hikes stake in 7-Eleven Malaysia
BERJAYA Philippines, Inc. said Wednesday that it had increased its ownership in Malaysia-based 7-Eleven Malaysia Holdings Berhad through the acquisition of P124.5 million (9.6 million ringgit) worth of shares.
— The Manila Times

AnyMind Group launches in the Philippines
AnyMind Group, an AI solutions provider in the advertising, marketing and human resource industries, has today announced its expansion into the Philippines, with an office in Manila, and appointment of Country Manager for the Philippines.
— AEC News Today/ PR Newswire (media release)

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.

Philippines morning news for September 6 added by Stella-maris Ewudolu on September 6, 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.