News Report 08 August 2018 Local
1. Duterte dispatches Cabinet members to Libya Manila Bulletin, 08 August 2018, p. 2
The President has formed a high-level task force led by Foreign Affairs Secretary Alan Peter Cayetano to work with the Libyan government in dealing with the hostage crisis, according to Presidential Spokesman Harry Roque. The government team also includes Labor Secretary Silvestre Bello III, Presidential Adviser on Overseas Filipino Workers (OFW) concerns Abdullah Mamao, and Mindanao Development Authority Secretary Datu Abul Khayr Alonto.
2. It’s official: Suarez is House Minority leader
The Philippine Star, 08 August 2018, p. 1, continued on p. 5
A majority of the 292-member House of Representatives voted yesterday to retain Quezon Rep.
Danilo Suarez as leader of the minority bloc, finallly ending the squabble for the post. Vice President Leni Robredo said Suarez’s recognition as minority leader “is a clear violation of the rules of the House of Representatives” because Suarez is one of the leading supporters of Arroyo. The Vice President said those who voted for Arroyo as Speaker should automatically be part of the majority.
Korea - Economic
3. Inflation soars to fresh high
Manila Bulletin, 08 August 2018, p. 1, continued on p. 10
The country’s inflation accelerated to a fresh high of 5.7 percent in July, its highest level in five- years – from 5.2 percent in June and 2.4 percent in the same period last year. The Philippine Statistics Authority (PSA) cited the sustained rise in the rate of increase in consumer prices amid skyrocketing commodity and transport costs.
To taper the rapid rise in consumer prices, the Department of Finance, Department of Budget and Management as well as the National Economic and Development Authority said that “stronger government measures” are needed to control inflation.
4. House approves second tax reform package
Manila Bulletin, 08 August 2018, p. 1, continued on p. 10
The House Committee on Ways and Means approved the administration’s second tax reform package that seeks to lower the corporate income tax rates and rationalize fiscal incentives. From the current 30-percent corporate income tax rate, the Tax Reform for Attracting Better and High- Quality Opportunities (TRABAHO bill) proposes two-percent cuts in the corporate income tax every two years from January 1, 2021 to January 1, 2029. Committee Chairman Rep. Dakila Cua said the bill will be called the “TRABAHO bill”because the measure is expected to create jobs, especially in the countryside.
