Philippines morning news for January 14

Philippines morning news for January 14

Philippines morning newsCollection in 9 months under TRAIN 94.7% of target: DOF
REVENUE collections for the first three quarters of 2018—with the implementation of the Tax Reform for Acceleration and Inclusion law—were slightly below target, but the finance secretary said that point is eclipsed by the fact that the TRAIN law put more money in the pockets of Filipinos by cutting personal income taxes (PIT).
— Business Mirror

PEZA ends 2018 with P140-B investments
The Philippine Economic Zone Authority (PEZA) has approved a total of PHP140.24 billion worth of investments in 2018, the agency reported.
— Philippine News Agency

PHL piques interest of Asian investors, data on FDI show
CHINA has overtaken the United States in terms of the volume of net equity capital investments to the Philippines in the January-to-October period last year, according to data from the Bangko Sentral ng Pilipinas (BSP).
— Business Mirror

BSP sees double-digit growth in liquidity
Liquidity in the financial system may post a double-digit growth this year after the tightening cycle by the Bangko Sentral ng Pilipinas (BSP) last year to prevent inflation from spiraling out of control.
— The Philippine Star

Banks cite reduced rate hike pressures
THERE IS LESS PRESSURE for the Bangko Sentral ng Pilipinas (BSP) to raise rates further this year as inflation has somewhat eased and the trade gap can be expected to narrow, two global banks said.
— BusinessWorld Online

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Current account deficit has already peaked in 2nd half of 2018 — economists
Investment banks said the country’s current account deficit may have already peaked in the second half of last year.
— The Philippine Star

DOLE allots P16-M for Zamboanga livelihood project
The Department of Labor and Employment (DOLE) has allocated some PHP16 million for the implementation of Project Helping Others Prosper Economically (Project HOPE) in the Zamboanga Peninsula.
— Philippine News Agency

Quick takeover of Hanjin to avoid blot in PH shipbuilding image
The Department of Trade and Industry (DTI) calls for the quick takeover by a possible investor of Hanjin Heavy Industries and Construction Philippines’ (HHIC-Phil) shipbuilding operations in Subic, hopefully within three months, so as not to negatively impact on the perception on the Philippines as an investment destination for the sector.
— Malaya

Philippines to probe passport contractor after ‘data theft’
The Philippines privacy watchdog will investigate allegations by Foreign Secretary Teodoro Lacsin that a disgruntled contractor made off with personal passport data and other documents held by the department.
— South China Morning Post

PH, Singapore eye derivatives in local bourse
The Philippine Stock Exchange Inc. and Singapore Exchange Ltd. are working together to develop new Philippine equity index derivatives for listing in the local bourse.

Retail prices in NCR rise slower in Nov — PSA
Retail prices of consumer goods in Metro Manila rose at a slower place in November as slower increases were seen in the prices of several goods such as beverages and tobacco, according to the Philippine Statistics Authority (PSA).
— The Philippine Star

NFA to pay cash, ease rules to further entice rice sellers
THE National Food Authority, which is in the middle of a restructuring to focus on domestic rice purchasing and storage, will move to ease the requirements on farmers seeking to sell their output to the agency.
— BusinessWorld Online

DENR, 12 agencies to craft Manila Bay rehab plan
AN interagency body led by the Department of Environment and Natural Resources (DENR) will kick off exploratory talks this week to come up with a plan on how to rehabilitate Manila Bay.
— Business Mirror

Baguio mulls waste-to-energy project
State-run PNOC Renewables Corp. (PNOC-RC) and the local government of Baguio signed a memorandum of understanding to support waste-to-energy (WTE) sustainable project as well as solid waste management in the city.
— Malaya

PH to become ‘upper middle income’ this year – Finance official
The Philippines is set to become an upper middle income country this year amid strong growth, an official of the Department of Finance said Sunday.
— ABS-CBN News (video)

SMC opens P24-b water project
The Metropolitan Waterworks and Sewerage System has cited San Miguel Corp’s P24.4-Billion Bulacan Bulk Water Supply Project, a public-private partnership project of Luzon Clean Water Development Corp. and K-Water Resources Corp., as it starts commercial operations among selected and ready water districts under Stage 1 today, Jan. 14, 2018, following its milestone completion ahead of schedule.

51 containers of garbage shipped back to South Korea
The 51 containers of illegal garbage languishing at the Mindanao International Container Terminal (MICT) in Tagoloan, Misamis Oriental were finally shipped back Sunday to South Korea where the assorted wastes came from several months ago.
— Manila Bulletin

PHL to push for ‘inclusive globalization’ at WEF annual meet
Manila will carry the agenda of inclusive globalization at the World Economic Forum (WEF) in a bid to open up more trade opportunities for small businesses.
— Business Mirror

Packed prisons in the Philippines
2019 is slated to be a year of elections for the Southeast Asian region. Not only will Indonesia see its first presidential election since 2014, Thailand too has promised to hold an election this year since the military coup of 2014.
— The Asean Post

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Chinese nationals top list of barred foreigners in 2018
THE BUREAU of Immigration (BI) barred 133 foreigners from entering the country in 2018, and have been blacklisted, for displaying unruly behavior toward immigration officers.
— BusinessWorld Online

Proposed amendments to the Foreign Investments Act are seen to boost SMEs
A leader of the House of Representatives sought on Sunday the swift passage of a bill seeking to amend the 28-year old Foreign Investments Act to boost the growth of small and medium enterprises (SMEs) in the country.
— Manila Bulletin

Facebook bans Philippine fake news pages
Vice President Leni Robredo reiterates her call for vigilance and accountability on social media as she welcomes Facebook’s ban on a Philippine company known for spreading disinformation on the social media site.
— ThePhilippine Star

Clark workers offered ‘just’ severance pay
In a bid to stop a planned workers’ strike, management of the Clark International Airport Corp. (Ciac) on Sunday offered a “just, fair and lawful severance package” and the option to retire and be rehired by a consortium that would operate and maintain the airport here.
— Philippine Daily Inquirer

Measure requiring SSS coverage for all OFWs now transmitted for Duterte’s approval
(Eagle News)-A measure requiring Social Security System coverage for Overseas Filipino Workers has been transmitted to Malacañang for President Rodrigo Duterte’s approval.
— Eagle News

Farmer-friendly program pushed
A national credit program for farmers is being pursued by the government to liberate them from loan sharks and increase their production.
— The Manila Times

Price cap on cement eyed as demand surges
Secretary Ramon Lopez of the Department of Trade and Industry (DTI) on Friday hinted at the possible imposition of additional duties on cement imports to protect the local cement industry but with a caveat that prices stay at a certain level.
— Malaya

RCEP e-commerce provisions seen completed by June
THE Philippines expects the completion of the e-commerce provisions of the Regional Comprehensive Economic Partnership (RCEP) within the first half of the year.
— BusinessWorld Online

Ex-Navy chief warns of possible Chinese takeover of Korean commercial shipyard in Subic
A former chief of the Philippine Navy warned over two Chinese firms’ possible takeover of the Hanjin Heavy Industries and Construction (HHIC) shipyard in Subic, Zambales.
— CNN Philippines

US Navy exec axed for paid sex in the Philippines
The commander of a United States Navy submarine was relieved from his post in August following his admission of hiring female prostitutes while the vessel was docked in the Philippines early last year, according to a report published in a Washington state newspaper on Friday.
— The Philippine Star

DILG: LGU execs who pay NPA rebels face sanctions
The Department of the Interior and Local Government (DILG) warned of sanctions against local government executives and other candidates for elective posts who paid “permit to campaign” fees or provide other forms of support to communist rebels.
— Philippine Daily Inquirer

LBC Ronda Pilipinas set Feb. 8-12
The LBC Ronda Pilipinas 2019 has set its sights on helping the country qualify a cyclist to the Olympics for the first time in decades as it holds a five-stage race slated Feb. 8-12 that will go start in Iloilo City and pass through Guimaras, Roxas City and Antique.
— Tempo

Palay prices fall to P14 per kg, but farmers given hope
Farmers in South Cotabato were bracing for losses as prices of palay plunged to P14 per kilogram just as the National Food Authority (NFA) dangled a new program, which promised to make farmers earn more for their harvests.
— Philippine Daily Inquirer


Feature photo jahcordova


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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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