Philippines morning news for January 18

Philippines morning news for January 18

Philippines morning newsPHL attracts $1.204 billion in ‘hot money’ last year
THE Philippines proved to be an attractive destination for short-term foreign investments, as foreign portfolio investments (FPI) returned to the inflow territory in 2018, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).
— Business Mirror

University of Malaya top Asean emerging economies university again
The University of Malaya (UM) has garnered the top spot in the Times Higher Education (THE) Emerging Economies University Rankings 2019 (EEU2019) for Asean universities.
— AEC News Today

Philippine economy to grow below-target over the next 2 years — report
The Philippine economy will likely grow below what both the government and the market are expecting in 2019 and 2020, a London-based think tank said, although the country is poised to stay as one of the fastest growing economies in Emerging Asia.
— The Philippine Star

Ceza registered $8b worth of investment commitments in 2018
The Cagayan Economic Zone Authority said it secured a record $8.13 billion worth of investment commitments in 2018.

PHL human rights crisis deepened in 2018 under Duterte —HRW world report
The human rights crisis in the Philippines “deepened” in 2018 under President Rodrigo Duterte, Human Rights Watch said in its annual World Report released on Thursday.
— GMA News

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DTI slaps P8.40 per bag provisional duty on imported cement
The Department of Trade and Industry (DTI) has taken a firm step to protect local cement manufacturers in the wake of reports that imported cement has been flooding the local market in recent months.
— Philippine News Agency

Bacolod City rakes in P1.4-B in taxes, other revenues in 2018
The City of Bacolod raked in PHP1.444 billion in real property taxes and other non-tax revenues in 2018, with a collection efficiency of 143 percent, records of the City Treasurer’s Office (CTO) showed.
— Philippine News Agency

DOTr: ‘MRT-3 rehabilitation to begin in February’
The “comprehensive” rehabilitation of Metro Rail Transit Line 3 (MRT-3), the rail line along EDSA, will begin next month, according to the Department of Transportation.
— The Philippine Star

Philippines must push for clarity in US defence treaty
Is it still relevant to our security? Maybe not,” Philippines Defence Secretary Delfin Lorenzana said at a press conference last month, revealing his plans to review the 1951 Philippine-US Mutual Defence Treaty (MDT).
— The Nation (very annoying pop-ups)

Duterte government strives to end Philippines’ budget impasse
President Rodrigo Duterte’s administration is battling to end a two-week budget impasse that threatens to derail the Philippines’ rapid economic expansion, and raises questions over his power to implement key legislation ahead of midterm elections in May.
— Nikkei Asian Review (paywall)

UK government warns of danger as Philippine election period begins
The British government has updated its travel advice to warn against meddling in politics as the Philippine midterm election period gets underway.
— Philippines Lifestyle

RCBC to issue peso-denominated ASEAN Green bonds
Rizal Commercial Banking Corp. (RCBC) said Thursday it will be issuing peso-denominated green bond under its recently established green finance framework.
— GMA News

JFC sees FDIs topping $10 B in 2019
Foreign businessmen are more bullish on the Philippine economy this year with foreign direct investments (FDIs) expected to exceed the $10-billion level.
— Manila Bulletin

Hanjin PHL may need 8 years to recover
THE government is looking into having other foreign white knights to acquire Hanjin Heavy Industries and Construction Philippines (HHIC-Phil), with an initial eight-year rehabilitation plan on the table.
— BusinesssWorld Online

Customs, PDEA operations yield P141.038 million worth of prohibited drugs in Clark
The Bureau of Customs (BOC) Port of Clark has reported the apprehension of prohibited drugs amounting to around P141.038 million found in shipments originating from California and Las Vegas in the US.
— Business Mirror

DOH: 3.3 million Filipinos suffer from depressive disorders
Depression is a “serious health condition” that affects millions of Filipinos, the Department of Health said on Thursday.
— GMA News

Martial law victims to receive reparation from revenue of seized Marcos paintings
Thousands of martial law victims in the Philippines are set to be paid reparation sourced from the sale of paintings seized from a former aide of Imelda Marcos.
— ABS-CBN News (video)

DICT’s Rio says deals with tower firms could top $6 billion
JUMP-STARTING the construction of so-called common telecom towers in the country—through the six tower companies that the government is making deals with—could lead not only to better services, but also translate to roughly $6 billion in new investments.
— Business Mirror

DoF to launch fuel marking vs smuggling in February
The Finance Department plans to launch early next month the fuel marking program to check oil smuggling that is costing the government P27 billion to P44 billion in annual revenue losses.

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For P5,000 ‘fee,’ foreigners easily get Philippine work permit –Villanueva
Some immigration personnel are charging P5,000 per applicant to facilitate the release of special work permits to foreigners, according to Sen. Joel Villanueva, who asked the labor department to get involved in the process before such a document is issued.
— Philippine Daily Inquirer

House finalizes bill lowering age of criminal liability
After months of deliberation, the House Committee on Justice is set to finalize the bill seeking to lower the age of criminality from 15 to nine years old, the panel’s chair said Thursday.
— Philippine News Agency

Electronics exports rise 4.57% in first 11 months
THE value of electronics exports in the 11 months to November rose 4.57% year-on-year, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said.
— BusinesssWorld Online

DFA monitoring impact of Italy’s money remittance tax on OFWs
The Department of Foreign Affairs (DFA) said Thursday it will monitor Italy’s impending imposition of a new remittance tax on non-European Union (EU) states and its effect on overseas Filipino workers (OFWs) sending money to the country.
— Philippine News Agency

2 more foreign firms sign up for PH common tower plan
Foreign groups are signing up to build shared cell towers in the Philippines as the Department of Information and Communications Technology (DICT) opened the door to more players.
— Philippine Daily Inquirer

DTI wants to keep 5% tariff on deboned meat
The Trade Department said it will submit a recommendation to the National Economic Development Authority to keep the current 5-percent tariff on imported mechanically-deboned meat until a full review of the tariff program is conducted.

PH, Thailand ink pact strengthening info cooperation
A long-standing friendship just got a bit stronger after officials of the Philippines and Thailand on Thursday signed a memorandum of understanding (MOU) for greater information and media cooperation.
— Philippine News Agency

PHL eyes expanding ASEAN Green Bonds framework
The Duterte administration is eyeing to expand coverage of the ASEAN Green Bonds framework to include other sectors critical to improving climate change resilience, Finance Secretary Carlos Dominguez III said Thursday.
— GMA News

Carpio: China still after Philippines’ exclusive economic zone
“China is still after our exclusive economic zone.”

Trillanes arrest sought for leaving PH pending court approval
Government lawyers asked the Davao City Regional Trial Court (RTC) Branch 54 trying Sen. Antonio Trillanes IV on four counts of libel to order the lawmaker’s arrest and cancellation of his bail for jumping the gun on the court’s permission on his travel abroad last month.
— Philippine News Agency

Searca, Thai school eye program for poor farmers
The Southeast Asian Regional Center for Graduate Study and Research in Agriculture (Searca) based in the University of the Philippines Los Banos (UPLB) and Kasetsart University (KU) in Thailand held initial discussions on how to help poor Southeast Asian farmers, with the aim of combining the center’s approach to promoting inclusive and sustainable agricultural and rural development (ISARD) and the university’s Knowledge of the Land Program anchored on the late King Bhumibol Adulyadej’s Sufficiency Economy Philosophy (SEP).
— The Manila Times

JICA, MCWD sign septage management project for Metro Cebu
THE Japan International Cooperation Agency (JICA) and Metropolitan Cebu Water District (MCWD) recently signed documents relating to the preparatory survey for the Septage Management Project for Metro Cebu, putting the plan a step closer to implementation.
— BusinessWorld Online

257 foreign fugitives nabbed in 2018
Chinese nationals topped the list of the total 257 foreign criminals arrested last year by the Bureau of Immigration who hid in the country to evade criminal prosecution in their homelands, according to BI Commissioner Jaime Morente.

Comelec to hold mock elections for May polls
The Commission on Elections (Comelec) is set to conduct mock elections this weekend in preparation for the midterm polls in May.
— CNN Philippines

DOE receives 331 applications for projects of national significance
THE Department of Energy (DOE) has received 331 applications from industry stakeholders seeking the certification of their power projects as “energy projects of national significance [EPNS].”
— Business Mirror

Don’t let Chinese firm take over Hanjin shipyard – Trillanes
Opposition Senator Antonio Trillanes IV on Thursday, January 17, warned against letting a Chinese company take over Hanjin Heavy Industries and Construction Philippines’ shipyard in Subic Bay, citing its serious implications on Philippine national security.
— Rappler

Bicam OKs Energy Efficiency and Conservation Act
The Bicameral Conference Committee has approved the reconciled Senate and House of Representatives’ versions of a measure institutionalizing a framework to advance energy efficiency and conservation practices in the country.
— PTV News

Hunger rate drops in 4Q of 2018
The number of Filipinos who say they have experienced hunger has dropped based on the Fourth Quarter 2018 Social Weather Survey.

Malaysian tower provider allocating $1 billion for Philippine expansion
MALAYSIA-BASED tower company edotco Group Sdn Bhd said it is investing at least $1 billion to build telecommunications infrastructure in the Philippines.
— BusinessWorld Online

Palace: No backchannel talks with communist rebels
The government is not trying to resume formal peace negotiations with communist rebels, Malacañang said Thursday, disputing reports the President had ordered backchannel talks.
— CNN Philippines

QC ups school workers’ rice outlay by P500
Quezon City Mayor Herbert Bautista has signed an ordinance granting all teaching and non-teaching personnel in public schools a P500 increase in their quarterly rice allowance from P1,500 to P2,000 quarterly.

Controversial former Cebu fiscal killed in ambush
A controversial former Cebu City assistant prosecutor was killed in an ambush by still unidentified assailants past 10 pm Thursday, January 17, along Escario Street, this city.
— Rappler

Chinese flotilla in Manila for 4-day goodwill visit
A Chinese naval task force consisting of two guided-missile frigates, Wu Hu (Hull 539) and Han Dan (Hull 579), and replenishment ship, Dong Ping Hu (Hull 960), arrived at Pier 15, South Harbor, Manila on Thursday for a goodwill visit that will last until Sunday.
— Philippine News Agency

Virtuous NAIA employee returns envelope containing US dollar bills
An employee of the Ninoy Aquino International Airport (NAIA) was lauded for returning an envelope containing a “significant amount” of US dollar bills he found at a currency exchange counter.
— ABS-CBN News


Feature photo jahcordova


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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