Philippines Morning News For October 16, 2019

IMF lowers 2019 growth forecast for Philippines to 5.7%
The International Monetary Fund (IMF) has lowered anew its economic growth forecasts for the Philippines for 2019 and 2020 due to the disappointing performance in the first half, as well as external headwinds caused by the US-China trade war.
— The Philippine Star

DBM releases 95.3% of P3.7-trilllion 2019 budget
THE Department of Budget and Management (DBM) has released P3.491 trillion, or 95.3 percent of the P3.662-trillion 2019 budget as of end-September.
— Business Mirror

Remittances increased by 4.6% to $2.59 billion in August—BSP
Money sent home by Filipinos working overseas increased by 4.6 percent in August to $2.589 billion from $2.476 billion a year ago, the Bangko Sentral ng Pilipinas said in a statement Tuesday.
— Manilastandard.net

China-Philippines Joint Development Negotiations Could Make Or Break China-Southeast Asian Relations – Analysis
Soft power is the capability to use economic or cultural influence to shape the preferences of others.
— Eurasia Review

UN agencies back DOH polio drive; Red Cross vaccinates 7,000 kids
THE World Health Organization (WHO) and United Nations Children’s Fund (Unicef) are backing the Department of Health (DOH) in the synchronized polio vaccination campaign as it aims to reach nearly 2 million children within two weeks to stop the outbreak.
— Business Mirror

7-year sunset period for ecozone perks likely
ECONOMIC zone locators will most likely end up with seven years to relinquish all of their fiscal incentives under the Senate version of the Corporate Income Tax and Incentives Rationalization Act (Citira) bill, the country’s trade chief has disclosed.
— Business Mirror

ASF deals P150-million loss to Pampanga
The Pampanga swine industry has lost P150 million since the African swine fever virus broke out, an all-time high compared to the previous years, an official said Tuesday.
— Manilastandard.net

Shadowy operators power Duterte’s offshore gaming boom
It has created 470,000 jobs. It contributes over $11 billion to the economy. It has even sparked a diplomatic clash with China. The strange thing is, nobody is sure who fully owns it.
— Nikkei Asian Review (paywall)

Duterte fires gov’t oil exploration corporation chief
President Rodrigo Duterte has axed Pedro Aquino Jr, CEO of the Philippine National Oil Company Exploration Corporation (PNOC-EC), allegedly for prematurely approving a deal with a Russian firm.
— Rappler

Poor Filipinos do not benefit from MRP – PHAP
The Pharmaceutical and Healthcare Association of the Philippines (PHAP) has sought for collaboration with the government as it urged not to impose the second phase Maximum Retail Price (MRP) stressing this form of price control on life-saving medicines does not benefit the poor.
— Manila Bulletin

Philippines, U.S., Japan hold military drills near West PH Sea
The navies of the Philippines, the US, and Japan began on Monday, October 14, a weeklong series of joint exercises based off Palawan, the Philippine province nearest the contentious West Philippine Sea.
— Rappler

Villanueva bewails Cebu traffic mess costing P1.1-billion daily loss, bats for telecommute option
Sen. Joel Villanueva bewailed Tuesday the crippling daily traffic gridlocks in Cebu, which, the Japan International Cooperation Agency (Jica) estimated is costing about P1.1-billion in lost economic opportunities.
— Business Mirror

World Bank unit cites PHL’s progress in banking reforms to fight climate change
The Philippines is one of 38 emerging market economies that have initiated banking reforms to fight climate change, according to World Bank’s private-sector arm, the International Finance Corp. (IFC).
— Business Mirror

Duterte administration urged to ramp up spending on infrastructure
House leaders expressed confidence on Tuesday that an economic expansion of 6 percent, or even above, remains “doable” by further ramping up state spending in the last quarter of the year.
— Business Mirror

Landbank earmarks P5 billion for agrarian beneficiaries
Government-owned Land Bank of the Philippines is allocating P5 billion for the country’s agrarian reform beneficiaries (ARBs).
— The Philippine Star

US firm to build rice, corn educational farms in PH
Corteva Agriscience, a New York Stock Exchange-listed agriculture company from the United States, will build rice and corn educational farms across the Philippines, following a deal it signed with the Department of Agriculture (DA).
— Manila Bulletin

Government agencies approve MOU on Enhanced Partnership against Hunger and Poverty
Different government agencies have already approved the Memorandum of Understanding (MOU) on Enhanced Partnership Against Hunger and Poverty (EPAHP) aimed to help mitigate hunger and reduce poverty in the country.
— Business Mirror

Report: Firms in food industry among worst employers in PHL
Filipinos in the food industry are still subjected to poor working conditions, according to a report on the labor practices of farms, restaurants, factories and supermarkets conducted by an international confederation of nongovernment organizations.
— Business Mirror

PHL urges Asean+3 nations to develop new rice varieties
Manila said it is supporting the proposal of the International Rice Research Institute (Irri) to involve Southeast Asian nations and their trade partners in the development of new rice varieties that are resilient to multiple environment stresses.
— Business Mirror

P56-billion PHL’s 1st supercritical coal-fired power plant switches on in Quezon
San Buenaventura Power Ltd. Co. (SBPL) inaugurated here the country’s first supercritical coal-fired power plant, providing Luzon 500 megawatts (MW) of additional capacity.
— Business Mirror

DBP eyes P5 billion sustainability bonds
State-run Development Bank of the Philippines (DBP) is planning to raise P5 billion through the issuance of two-year “sustainability” bonds to finance environmental and social projects in the country.
— The Philippine Star

Filipino banana growers want to halt demolition of biosecurity areas
Pilipino Banana Growers and Exporters Association (PBGEA) has condemned the stance of the provincial government of Davao del Norte, that wanted to demolish biosecurity facilities against fusarium wilt in a banana plantation.
— Fresh Plaza

Malacanang to let DOJ determine whether Albayalde should be charged criminally
Malacanang said that it is letting the Department of Justice to decide whether to file criminal cases against outgoing Philippine National Police chief General Oscar Albayalde.
— Eagle News

PCW leads public consultation on IRR of Safe Spaces Act
The Philippine Commission on Women (PCW) together with Plan International Philippines held the fifth of the eight countrywide consultations on the Implementing Rules and Regulations (IRR) of RA 11313 or the Safe Spaces Act on October 4 here.
— Philippine Information Agency

DepEd conducts education drive for arts, culture preservation
Bulacan–Education Secretary Leonor Briones is calling on teachers to strike a balance between teaching technology and the preservation of arts and culture.
— Philippine News Agency

Hospitality industry’s contribution to PH tourism growth hailed
Department of Tourism (DOT) Secretary Bernadette Romulo-Puyat lauded the hospitality industry’s contribution to the steady growth of the Philippine tourism industry and economy over the years as it vowed to increase engagement with the private sector.
— Philippine News Agency

VP case drags on as SC orders recount release
THE SUPREME Court, sitting as the Presidential Electoral Tribunal (PET) on Tuesday, has again deferred a decision on the election protest over the vice presidential post, instead ordering a release of the report on the initial result of recount of ballots.
— BusinessWorld

Combatting illegal fishing in Palawan’s Calamianes
With its combined municipal waters as vast as over 1 million hectares, keeping illegal, unreported and unregulated fishing (IUUF) at bay remains a challenge in the Calamian Island Group (CIG), one of the Philippines’ richest fishing grounds.
— Rappler

Solon wants Internal Affairs Service separated from PNP
Amid the ninja cops controversy troubling the Philippine National Police, PBA party-list Representative Jericho Nograles was seeking to have the Internal Affairs Service (IAS) separated from the PNP so that it could not be influenced by high-ranking officials in the police force.
— GMA Network

GIC, KKR invest US$685m in Philippines’ top hospital chain Metro Pacific
A KKR-led consortium said it will invest US$685 million in the largest hospital group in the Philippines, seeking to capitalise on growing demand for private healthcare in Southeast Asia.
— CNA

Marcos’ bid to void results in 3 ARMM provinces against PET rules –Robredo
Former Senator Ferdinand “Bongbong” Marcos Jr. was attempting to defy Presidential Electoral Tribunal (PET) rules by seeking the nullification of election results in three Bangsamoro Region provinces despite his failure to recover a substantial number votes in three pilot provinces, Vice President Leni Robredo said Tuesday.
— GMA Network

Govt pushes for local peace engagements
Peace talks remain contrary to what others perceived that it has ended, National Security Adviser Hermogenes C. Esperon, Jr stated Monday, October 14 in a press conference during the Luzon Summit for Peace and Development.
— Philippine Information Agency

PH justices discuss money laundering, financial crimes with US experts
Twenty-one Sandiganbayan justices participated in a roundtable with United States (US) experts organized by the US Embassy in the Philippines – US Department of Justice Office of Overseas Prosecutorial Development, Assistance and Training (DOJ/OPDAT), the Supreme Court of the Philippines, and the Philippine Judicial Academy.
— Philippine Information Agency

Three additional train coaches to hit MRT-3 tracks starting today, Oct. 15
Three additional train coaches will hit the Metro Rail Transit-3 tracks starting today, Oct. 15, the MRT-3 said.
— Eagle News

Palace: Duterte will enforce law vs Albayalde ‘if there is evidence of wrongdoing’
PRESIDENT Rodrigo Duterte will enforce the country’s laws on resigned Philippine National Police (PNP) Chief Oscar Albayade “if there is evidence against any wrongdoing,” Malacañang assured the public on Tuesday.
— Manila Times

7 PMA cadets tagged in Dormitorio’s death to be court martialed
The 7 cadets of the Philippine Military Academy (PMA) implicated in the hazing, torture, and death of Cadet 4th Class Darwin Dormitorio will be tried by a court martial of the Armed Forces of the Philippines (AFP), said PMA Commandant of Cadets Brigadier General Romeo Brawner Jr.
— Rappler

Public execs dared to ride wheelchair for a day to see compliance with accessibility laws
A lawmaker on Tuesday dared his fellow public officials, especially those in the local government, to get on a wheelchair for a day and roam around their respective areas to see whether establishments are compliant with accessibility laws.
— GMA Network

Malay town acting mayor declares Boracay a discipline zone
Though he still carried the designation acting mayor, Frolibar Bautista was proud of his accomplishments in his first 100 days in office overseeing mainland Malay town and Boracay Island here.
— Rappler

Carpio, Caguioa vote to dismiss Marcos protest, overruled
Two justices of the Supreme Court (SC) voted to dismiss Ferdinand Marcos Jr’s electoral protest against Vice President Leni Robredo, but they were overruled by a majority of 11 magistrates.
— Rappler

FALSE: ‘No poor Filipino’ during Martial Law, only during the Aquinos’ terms
Claim: Nobody was poor during Martial Law and the real poverty happened during the Aquinos’ terms.
— Rappler

SC decides to “severely reprimand” Manila Times reporter over 2016 story on High Court, Poe
The Supreme Court on Tuesday, Oct. 15, decided to “severely reprimand and issue a stern warning” to a Manila Times reporter over his 2016 story alleging SC justices were offered P50 million each to disqualify Senator Grace Poe as a presidential candidate.
— Eagle News

Davao mayor’s SOCA highlights investment growth
Mayor Sara Z. Duterte highlighted the growth of investments in the city during her State of the City Address (SOCA) on Monday at the Sangguniang Panlungsod building here.
— Philippine News Agency

Zamboanga City, Malaysia schools forge ties
A local private school here on Tuesday entered into a memorandum of understanding (MOU) with a Malaysian school geared towards academic advancement in skills and job-centered education in the international arena.
— Philippine News Agency

Philhealth-12 assures members of continuous benefits
The Philippine Health Insurance Corp. (PhilHealth) in Region 12 (Soccsksargen) has assured its members that health insurance benefits will be unaffected in the wake of the suspension and withdrawal of its accreditation to three major hospitals here and in Koronadal City.
— Philippine News Agency

5 bodies, skeletal remains found in Benguet ravine
Benguet authorities on Tuesday, October 15, discovered 5 bodies and skeletal remains in a ravine near the Marcos Highway in Tuba town.
— Rappler

AFP supports selective martial law coverage in Mindanao
Armed Forces of the Philippines spokesman Marine Brigadier General Edgard Arevalo on Tuesday said the military supports selective coverage of martial law in the Mindanao region as the peace and order situation in some areas has already improved.
— GMA Network

After getting fresh capital, Metro Pacific Hospitals scraps IPO plan
Metro Pacific Hospital Holdings Incorporated (MPHHI) will be postponing its plans to go public after getting fresh capital from a consortium led by a global investment firm.
— Rappler

PH to take advantage of reduced 2019 SEA Games volleyball tourney
The Philippines hopes to finally end its medal drought in the 2019 Southeast Asian (SEA) Games women’s volleyball tournament as only 5 countries have confirmed their participation during the team draw event on Tuesday, October 15.
— Rappler

Foreign firms must be convinced to stay
THE Philippine Economic Zone Authority (PEZA) has yielded to what appears to be a firm administration stand on the proposed Corporate Income Tax and Incentives Rationalization Act (CITIRA).
— Tempo

BSP trims bonds’ reserve requirement rate to 3%
THE Bangko Sentral ng Pilipinas (BSP) has cut the reserve requirement rate for bonds issued by banks and quasi-banks (QBs) to 3 percent from 6 percent, which analysts said would level the playing field.
— Manila Times

PNOC EC’s Aquino steps down as chief
PEDRO Aquino Jr. has resigned as president and chief executive officer (CEO), as well as member of the board of Philippine National Oil Co. subsidiary PNOC Exploration Corp. (PNOC EC) after President Rodrigo Duterte asked him to do so.
— Manila Times

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Philippines morning news for October 16 added by Stella-maris Ewudolu on October 16, 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.