Philippines morning news for January 17

Philippines morning news for January 17

Philippines morning newsPH growth forecast for 2018, 2019 cut
The regional macroeconomic surveillance organization Asean+3 Macroeconomic Research Office (Amro) has cut its 2018 and 2019 growth forecasts for the Philippines even as Budget Secretary Benjamin Diokno on Wednesday said that the first two years of the Duterte administration posted the fastest economic growth among post-Marcos administrations.
— Philippine Daily Inquirer

Spain offers 300-million euro loan to finance infra projects in PH
The Spanish government is offering a 300-million-euro loan to support Philippine government projects in infrastructure, agro-food, and tourism, the Department of Finance said.

DoJ throws out Rappler appeal in tax evasion case
The Department of Justice (DoJ) stood pat on its ruling to prosecute Rappler for tax evasion when it rejected the motion for reconsideration filed by the online news site.
— The Manila Times

DICT launches P508-million cybersecurity system
The Department of Information and Communications Technology (DICT) is bolstering the country’s efforts to combat cyberthreats as it kicked-off yesterday a P508-million cybersecurity management system project.
— The Philippine Star

Gov’t saves record P10.7B on improved procurement
The government saved P10.7 billion last year due to procurement reforms that also helped speed up the implementation of some major infrastructure projects, Budget Secretary Benjamin Diokno said.
— Philippine Daily Inquirer

PH, Sri Lanka firm up five deals
The Philippines and the Democratic Socialist Republic of Sri Lanka forged five bilateral agreements during the state visit of Sri Lankan President Maithripala Sirisena, covering trade, defense, agriculture, and tourism, education, cultural and people-to-people exchanges.

Olongapo court places Hanjin under corporate rehab
An Olongapo court has formally declared cash-strapped shipbuilder, Hanjin Heavy Industries and Construction Philippines Inc. (HHIC Phil.), under corporate rehabilitation.
— Philippine News Agency

DICT to sign deals with 3 foreign firms for telco towers
The Department of Information and Communications Technology said it is set to sign this week separate agreements with three foreign companies to build cellular towers nationwide.

PH may be more attractive as Brexit hangs: British Chamber
The Philippines and other countries in Southeast Asia may become more attractive to British companies due to uncertainty over the outcome of the United Kingdom’s divorce from the European Union, the head of a British business group said Wednesday.
— ABS-CBN News (video)

38 towns, cities in Ilocos placed under election watch list
The Philippine National Police Regional Office (PRO) in Ilocos Region has listed 38 towns and cities in the region under election watch list areas (EWAs).
— Philippine News Agency

Japan-funded projects for signing in Q1 2019
Three loan agreements with Japan are set to be formalized this 1st quarter of 2019, said the Department of Finance (DOF).
— Rappler

Yields on term deposits decline as liquidity continues to improve
YIELDS on term deposits fell across the board yesterday, mirroring a downtrend in bond yields as liquidity improved in the market.
— BusinessWorld Online

Philippines is ‘off limits to trash imports’, anti-plastic advocacy group | #AsiaNewsNetwork
Philippine members of the Break Free From Plastic (BFFP), a global movement against plastic pollution, on Wednesday commended the swift and decisive action of the Bureau of Customs (BOC) in returning back to South Korea garbage dumped in the country, saying it sends a strong message that the Philippines is “off limits to trash imports.”
— Eleven

GSIS releases P13-B loan to 36K DepEd personnel
State pension fund Government Service Insurance System (GSIS) has released a total of PhP12.95 billion in GSIS Financial Assistance Loan (GFAL) since the program started in May 2018, benefiting 36,692 personnel of the Department of Education (DepEd).
— Philippine News Agency

DOLE allots P10-M for emergency employment of ‘Usman’ victims
The Department of Labor and Employment (DOLE) 5 (Bicol) has allocated PHP10 million for the emergency employment of workers displaced by Tropical Depression Usman, which caused massive landslides in several parts of the region last December 29-30.
— Philippine News Agency

Mitsubishi sells P11.7 billion worth of shares in Ayala
Mitsubishi Corp. sold P11.7 billion ($225 million) worth of shares in conglomerate Ayala Corp. as part of the Japanese group’s portfolio management and rebalancing of assets.

ARMM inaugurates P20-M projects in Basilan
The Autonomous Region in Muslim Mindanao (ARMM) on Wednesday inaugurated some PHP20 million worth of projects in this city.
— Philippine News Agency

Muntinlupa small entrepreneurs granted loans sans interest
NINETY-TWO small-scale business owners were recently given financial assistance amounting to P1.5 million by the local government of Muntinlupa.
— Business Mirror

Gov’t launches real-time budget, treasury management system
THE GOVERNMENT launched its first real-time public financial management system on Wednesday, which is designed to streamline the monitoring of agencies’ transactions.
— BusinessWorld Online

PSALM to set new bidding for Malaya valuation consultant
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will schedule another bidding on the consultancy services that will draw up the valuation and reserve price for the 650-megawatt Malaya power facility’s targeted privatization this year.
— Manila Bulletin

Ex-general in military corruption scandal cleared in P428M tax case
The Court of Tax Appeals (CTA) has acquitted retired Lt Gen Jacinto C. Ligot and wife Erlinda Ligot of 4 counts of tax deficiencies worth P428 million.
— Rappler

Vape not a good alternative to cigarettes, DOH warns
The Department of Health (DOH) on Wednesday renewed its warning against the use of electronic cigarettes, commonly known as “vape,” saying it is not a good alternative to tobacco.
— CNN Philippines

DOH wants smokers reduced to less than 15% by 2022
The Department of Health (DOH) on Wednesday said the government aims to reduce number of Filipino smokers from 21 percent to less than 15 percent by 2022.
— Philippine News Agency

‘Price explosion’ projected under TRAIN 2
Militant lawmakers on Wednesday warned of an “oil price explosion” brought by the second tranche of the Tax Reform for Acceleration and Inclusion Act, or TRAIN 2.
— Philippine Daily Inquirer

Jobs, wages, prices, federalism hot-button poll issues–experts
THE lack of decent jobs, low wages and high commodity prices, as well as the shift to federalism, will likely take center stage in the discussions in the run-up to the May 2019 polls, according to local experts.
— Business Mirror

174 companies want to import rice
As many as 174 companies have formally expressed interest to import rice under the government’s out-quota rice importation program.
— Manila Bulletin

Filipinos are bracing for El Niño
The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA) has stated that Visayas -one of the three principal geographical divisions of the nation- will experience a dry season in the first quarter of the year.
— Fresh Plaza

Govt to relax rules on sugar shipments
The government is planning to deregulate or relax regulations on sugar imports this year, Budget Secretary Benjamin Diokno announced on Wednesday.
— The Manila Times

Deleting P75-B from DPWH budget may affect jobs, infra push, Diokno warns
Budget Secretary Benjamin Diokno on Wednesday said removing the P75 billion allegedly inserted in the 2019 national budget could affect job generation and the government’s Build, Build, Build program.
— ABS-CBN News

House passes Road Board abolition bill on second reading again
The House of Representatives passed on second reading the bill abolishing the Road Board for the second time, after it called its passage in September.
— CNN Philippines

Chinese wanted for P11-billion embezzlement case arrested
A former government official in China wanted by Beijing for allegedly embezzling public funds amounting to P11 billion has been arrested by agents of the Bureau of Immigration (BI) in Pasay City.
— The Philippine Star

Real police charge three Filipino women working for ‘fake’ charity in Pattaya
Pattaya police arrested three Filipino women for collecting donations from tourists for an ‘imaginary’ children’s foundation.
— The Thaiger

Indonesia denies ransom paid to release Abu Sayyaf hostage
The Philippines-based armed group, Abu Sayyaf, recently released an Indonesian hostage who was featured in a viral video pleading for his life, but Jakarta denies that ransom was paid to the kidnappers to secure his release.
— The Jakarta Post


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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