Philippines Morning News For March 8, 2019

Foreign reserves rise to 28-month high of $82.9 billion
The gross international reserves climbed to $82.9 billion in February, the highest in 28 months, boosted by the inflows from the foreign exchange operations of the Bangko Sentral ng Pilipinas.
— Manilastandard.net

Unemployment at 5.2 pct, underemployment at 15.6 pct in January
The Philippines posted an unemployment rate of 5.2 percent and an underemployment rate of of 15.6 percent in January, government data released Thursday showed.
— ABS-CBN News

Senators nix last-minute changes in budget bill
CONCERNED senators said on Thursday the final version of the P3.7-trillion budget bill for 2019, having been “already ratified” by both chambers of Congress, can no longer be altered.
— Business Mirror

Dengue cases rising
WHILE public attention is focused on measles, the number of dengue cases is rising.
— Malaya

Bangko Sentral ng Pilipinas cuts term deposit volume
The Bangko Sentral ng Pilipinas (BSP) has reduced the volume of term deposits to be auctioned next Wednesday to P40 billion from P50 billion due to the ongoing offering of retail treasury bonds (RTBs) by the national government.
— The Philippine Star

Growth to stay above 6% in Q1 on spending, slower inflation
THE BANGKO SENTRAL ng Pilipinas (BSP) expects economic growth to remain above six percent this quarter, with the view that strong government spending will prop up domestic activity despite budget delays and as inflation slows.
— BusinessWorld Online

March inflation seen at below 4%
THE Department of Finance (DOF) said inflation in March will remain below 4 percent if the average month-on-month (MoM) change in the prices of goods will not breach 0.6 percent.
— Business Mirror

Confusion marks rollout of rice trade liberalization law
A day after the rice trade liberalization law took effect, an official of the National Economic and Development Authority (Neda) said traders encountered difficulties in retrieving their shipments at the port.
— Business Mirror

Philippines, Malaysia to jointly combat terrorism, illegal drug trade
The Philippines and Malaysia vowed on Thursday to ramp up their cooperation to address security issues in the region, particularly in combating terrorism, piracy and transnational crimes, including the fight against illegal drug trade.
— Xinhua

Oil import bill jumps nearly 32% in 2018
THE COST of oil imports in 2018 hit $13.48 billion, up 31.8%, due to the combined effects of higher fuel prices and increased import volumes, the Department of Energy (DoE) said on Thursday.
— BusinessWorld Online

Require aliens to get work visa first before coming to PH: Bello
The government plans to require foreign nationals to secure working visas before coming to the country.
— Philippine News Agency

Duterte, Mahathir call for peaceful settlement of South China Sea disputes
President Rodrigo Duterte and Malaysian Prime Minister Mahathir Mohamad called for peaceful settlement of disputes in the South China Sea.
— GMA News

SSS plans actuarial study on second pension hike
The Social Security System (SSS) is planning to conduct an actuarial study next year to determine if it would be able to implement the second tranche of pension hike following the enactment of its new charter, a top official said.
— The Philippine Star

Philippines pursues stronger trade, investment ties with Malaysia
The Philippines wants to expand trade and investment ties with Malaysia by taking advantage of opportunities available in agriculture, manufacturing, technology and innovation, halal and infrastructure.
— The Philippine Star

Duterte wants to cut COA red tape, simplify audit rules
After moving to speed up land conversion procedures, President Duterte now says he wants to meet with lawmakers, Office of the Ombudsman and Commission on Audit (COA) officials to simplify auditing rules and procedures in the government.
— Business Mirror

China will not launch any attack – envoy
Chinese Ambassador to the Philippines Zhao Jianhua has given assurances that Beijing will not launch any attack in the South China Sea (West Philippine Sea) because China is committed to maintain peace and stability in the region.
— The Manila Times

Beware of China ‘debt trap’, Malaysia’s Mahathir tells the Philippines
Malaysian Prime Minister Mahathir Mohamad cautioned the Philippines on Thursday (March 7) over falling into a “debt trap”, as the country banks on China to bolster growth.
— The Straits Times

Maynilad putting up P2-billion sewage plant
West Zone concessionaire Maynilad Water Services Inc. has started the construction of its P2.05-billion sewage treatment plant, expected to be its largest facility in terms of capacity.
— The Philippine Star

Mahathir: Malaysia to support peaceful Bangsamoro transition
Malaysian Prime Minister Mahathir Mohamad said that he looks forward to a peaceful Mindanao, as it could lead to the prosperity of both the Philippines and Malaysia.
— CNN Philippines

Philippines, Malaysia to ink health accord
The Philippines and Malaysia will soon to sign an agreement to boost health cooperation between the two Southeast Asian nations.
— Inquirer.net

Malaysian PM warns Philippines against foreigner influx
Malaysian Prime Minister Mahathir Mohamad on Thursday warned the Philippines against letting in foreigners who could “disturb” the country’s domestic political stability, as President Rodrigo Duterte’s Beijing pivot sparks an influx of Chinese workers.
— The Sun Daily

Bill to reduce power rates hurdles bicam
Consumers may see their electricity bills reduced by nearly P1 per kilowatt hour (kWh) by September if President Rodrigo Duterte signs into law the proposed “Murang Kuryente Act.”
— CNN Philippines

Cusi signs permit for First Gen LNG terminal project
Lopez firm First Gen Corporation can finally proceed with its long-planned liquefied natural gas (LNG) import terminal project that will be sited close to its gas-fed power generating facilities in Batangas.
— Manila Bulletin

MisOr school board earmarks P9-M to improve techvoc
The provincial school board of Misamis Oriental has allocated at least PHP9 million for the improvement of school facilities and equipment for technical, vocational, and livelihood (TVL) education.
— Philippine News Agency

Palace chides UN rights chief over ‘irresponsible’ remarks on drug war
Malacañang claimed UN High Commissioner for Human Rights Michelle Bachelet has been supplied with “false information.”
— The Philippine Star

Gov’t info on narcopoliticians should only serve as leads, not for publication –IBP lawyer
Integrated Bar of the Philippines (IBP) president Abdiel Dan Fajardo said on Thursday that the government’s information on supposed narcopoliticians in the country should primarily serve as leads for investigations, and not for the publication of a list of names without evidence.
— GMA News

Duterte recalls Mahathir’s ‘vital support’ for PH peace process
President Rodrigo R. Duterte on Thursday recalled the “vital support” given by Malaysian Prime Minister Mahathir Mohamed in the peace talks between the government of the Philippines (GPH) and the communist rebel group, Moro Islamic Liberation Front (MILF).
— Philippine News Agency

BFAR-Caraga conducts fisheries management workshop
The Bureau of Fisheries and Aquatic Resources (BFAR) – Caraga gathered the resource speakers and representatives from the local government units (LGUs) of coastal municipalities around Lake Mainit for the Ecosystem Approach to Fisheries Management (EAFM) .
— Philippine Information Agency

Media groups call for prudence in reporting narco list
Several media groups, in a joint statement issued Thursday, called on journalists to exercise “utter prudence and fastidious judgment” in reporting stories about the Duterte administration’s list of public officials allegedly involved in the illegal drugs trade.
— Inquirer.net

Church asks investors to shun coal-fired power
THE CATHOLIC Church and other non-government organizations are calling on financial institutions to divest from coal-fired plants and focus on investing in renewable energy.
— BusinessWorld Online

One woman or child gets raped every 72 minutes in PHL –Gabriela
The Gabriela Women’s Party is calling for an intensified fight against sexual assault as a woman or child in the Philippines gets raped every 72 minutes, based on the latest official data from the Philippine National Police (PNP).
— GMA News

Greenpeace: Air quality report highlights need for more air monitoring systems in Philippines
“The good ranking… is not a cause for celebration as [the country has the region’s] least average number of monitoring stations per city.”
— The Philippine Star

Governor declares Negros Occidental coal-free
The Negros Occidental provincial government says it now prohibits the entry of coal-fired power plants in the province.
— Rappler

AboitizPower to enhance environment management program
The AboitizPower said it continues to pursue ways to enhance its environmental management and marine protection programs following the discovery of another sea turtle nest at the shoreline of the Therma South, Inc.
— Philippine News Agency

PLDT spending P78.4-B in capex this year
PLDT Inc. will be spending a total of PHP78.4 billion in capital expenditures (capex) this year to finance the expansion of its network and information communication technology capabilities.
— Philippine News Agency

Quezon City to pass gambling regulatory ordinance
Quezon City Vice Mayor Joy Belmonte revealed that they will pass a gambling regulatory ordinance amid the planned establishment of a casino in the city.
— Inquirer.net

Free transport services, museum admissions for women on March 8 –Commission on Women
The management of various public transport modes, museums, and agencies in the country announced that women may avail of free rides and services on March 8, 2019, in line with the celebration of the International Women’s Day.
— GMA News

Palace backs temporary cancellation of inmates’ privileges
Malacañang on Thursday backed the temporary cancellation of privileges of inmates to address the recurring problem of illegal activities in the seven penal institutions that are under the supervision of the Bureau of Corrections (BuCor).
— GMA News

Cavite’s Sulong Dunong program grants educational assistance to indigent students
The provincial government of Cavite (PGC) through the Sulong Dunong program granted educational assistance to indigent students through the Provincial Scholarship Committee (PSC).
— Philippine Information Agency

DA Caraga braces for El Niño
To ease the effects of the El Niño phenomenon in the region, the Department of Agriculture (DA) in Caraga has allocated buffer stocks to assist farmers who will be affected by the weather phenomenon.
— Philippine Information Agency

Tagaytay City hosts first supplemental immunization activity
The City Government of Tagaytay in coordination with the Department of Health (DOH) CALABARZON recently held the first supplemental immunization activity in Ayala Mall Serin here.
— Philippine Information Agency

Soccsksargen records 40 new measles cases
The Department of Health (DOH) in Region 12 (Soccsksargen) said the measles incidence in the region remain under control even as it recorded at least 40 new cases since last week.
— Philippine News Agency

PCOO intensifies campaign on gender-fair media in Caraga region
The Presidential Communications Operations Office (PCOO) has intensified its campaign on gender-fair media in the Caraga region.
— Philippine Information Agency

PECO seeks TRO against MORE Power takeover of Iloilo franchise
PANAY ELECTRIC Company, Inc. (PECO), which is poised to lose its 95-year power distribution license in Iloilo City, is seeking a temporary restraining order (TRO) order barring the takeover of new entrant MORE Power and Electric Co. (MORE Power).
— BusinessWorld Online

NBI, BIR seize cigarettes with fake stamps in Cagayan de Oro City
Authorities confiscated truckloads of cigarettes bearing fake Bureau of Internal Revenue (BIR) stamps in a warehouse in Barangay Kauswagan here on Thursday.
— Inquirer.net

Feature photo Brian Evans

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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.

Philippines morning news for March 8 added by Stella-maris Ewudolu on March 8, 2019
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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.