Inflation worries keep markets down
HONG KONG: Markets tumbled in Asia and Europe on Monday to extend a global rout while the dollar soared after a forecast-beating United States inflation print ramped up bets that the Federal Reserve (Fed) would be more aggressive in hiking interest rates. "For the last few weeks, there has been a cautious calm in markets — rates not pricing anything unforeseen, and equities able to make small gains," SPI Asset Management's Stephen Innes said. "The market is now thinking much more about the Fed driving rates sharply higher to get on top of inflation and then having to cut back as growth drops." Wall Street's three main indexes tanked, with the Nasdaq taking the heaviest blow as technology firms — which are susceptible to higher rates — were battered, while European markets were also hammered. "The ongoing backdrop to the yen's fall is the growing gap between long-term interest rates in Japan and the US," Takahide Kinouchi, executive economist at Nomura Research Institute, said in a recent commentary.
Source:Manila Times
June 14, 2022 04:32 UTC
Two farmers slain in Albay shooting
LEGAZPI CITY — Two farmers were killed in a shooting incident in Libon town in Albay on Monday morning. Maj. Maria Luisa Calubaquib, spokesperson of Bicol police, identified the victims as Antonio Losabia and Martin Maraño, both residents of Barangay Libtong in the said town. ADVERTISEMENTInitial investigation showed that while the victims were walking toward the village proper, they were shot by unidentified suspects that caused their instant death at around 9:30 a.m.Police were immediately deployed to the area to conduct a checkpoint for possible arrest of the suspects. INQRELATED STORYDOJ asks NBI to probe killing of two activist farmers in AlbaySubscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy PolicyRead Next
Source:Philippine Daily Inquirer
June 13, 2022 20:32 UTC
Fears of new Asian crisis as currencies fall
Capital outflows fueled by rising interest rates in the US sent currencies in Hong Kong, Japan, and India lower reminding one of the Asian financial crisis that happened 25 years ago. The Hong Kong dollar fell to the weak end of its permitted 7.75-to-7.85 per greenback trading range yesterday as the US dollar hit a 20-year high. Meanwhile, the yen fell more than 0.5 percent to 135.19, the lowest since October 1998, as Treasury yields extended Friday's inflation-shock driven gains. Also, the Indian rupee slid as much as 0.6 percent to a new record low of 78.2825 per dollar, after having hit a series of lows in recent days. Crypto markets tumbled after the Celsius announcement, with Bitcoin dropping as much as 14 percent to below US$25,000 (HK$195,000), the lowest level since December 2020 and other major tokens like Ether also falling sharply.
Source:The Standard
June 13, 2022 19:15 UTC
Djokovic slips to third as Medvedev tops ATP rankings
PARIS: Daniil Medvedev returned to the top of the ATP rankings on Monday, ahead of Alexander Zverev, with Novak Djokovic slipping out of the top two for the first time in nearly four years. But with Djokovic losing in the quarter-finals at the French Open, where he was defending champion, the door opened for Medvedev to rise again to top spot. Medvedev is unable to compete at Wimbledon as Russian and Belarusian players have been barred following the Russian invasion of Ukraine. Zverev climbs to number two for the first time having spent a total of 56 weeks since November 2017 at number three. Rafael Nadal (ESP) 65255.
Source:Manila Times
June 13, 2022 13:39 UTC
Berrettini dominates Stuttgart tourney
Italy’s Matteo Berrettini returns the ball during the ATP tour final tennis match against Britain’s Andy Murray in Stuttgart, southern Germany, on Sunday, June 12, 2022 (June 13 in Manila). AFP PHOTOSTUTTGART: Matteo Berrettini made a winning return to tennis on Sunday (Monday in Manila) when he defeated an injury-hit Andy Murray 6-4, 5-7, 6-3 to win the Stuttgart grass court title. Berrettini, who last played in March and then underwent hand surgery, won his ninth Stuttgart match without a loss as he backed up his 2019 debut trophy on the grass of the Weissenhof Club. "This is so unbelievable," 10th-ranked Berrettini said after claiming his first title since winning Queen's Club last June. Berrettini gave the 68th-ranked Murray full credit for a top effort.
Source:Manila Times
June 13, 2022 12:08 UTC
Iran, Venezuela sign cooperation pact
Iran and Venezuela on Saturday (Sunday in Manila) signed a 20-year cooperation agreement during a visit by Venezuelan President Nicolas Maduro to Tehran, state media reported. AFP PHOTOTEHRAN: Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit on Saturday (Sunday in Manila) to the Islamic republic by Venezuelan President Nicolas Maduro. Khamenei welcomed the agreement, and called for "stronger" cooperation between Tehran and Caracas, according to a statement on his official website. "We have important projects of cooperation between Iran and Venezuela in the fields of energy, petrochemicals, oil, gas and refineries," Maduro said. In 2020, Venezuela received two shiploads of fuel and derivatives from Iran to help address chronic domestic shortages.
Source:Manila Times
June 13, 2022 11:54 UTC
Two workers dead after suspended platform plunges 20 stories from Mid-levels building
Two workers died on Monday when the suspended platform they were using failed and dropped to the ground from the 20th floor of a residential building on Conduit Road at the Mid-Levels. The pair were said to be preparing for a project that requires scaffolding when the tragedy unfolded. They were certified dead on the scene and police officers have put up green tents to cover the bodies. The Labour Department also deployed staff to the scene upon receiving the report of the accident, and is now conducting an investigation to look into its cause. It is understood that the steel cable connecting the platform to the roof has snapped, with the platform shattered to pieces after the fall.
Source:The Standard
June 13, 2022 06:37 UTC
Vaccine pass requirement at medical facilities commences
Patients and other people visiting non-emergency public medical facilities, like specialist clinics under the Hospital Authority and designated health centers, will have to use the vaccine pass from Monday (June 13). The applicable premises also include district health centers, student health service centers, government dental clinics and methadone clinics. But other visitors will not be able to use a negative test result as an alternative. People entering the medical facilities will need to produce their vaccination record for staff to check, but they won't need to scan the QR code. Meanwhile, those entering the premises to collect rapid test kits, get tested or vaccinated are exempted from the vaccine pass arrangement.
Source:The Standard
June 13, 2022 03:03 UTC
Security Bank drives initiatives in saving world
Nikki Lizares helps Security Bank implement an Environmental and Social Risk Management System. However, for environmental scientist-turned-sustainability practitioner Nikki Lizares, driving initiatives that contribute to saving the world is a daily routine. Lizares is Security Bank's sustainability head – ensuring the bank incorporates sustainability into its programs and operations, as aligned with its mission to enrich lives, empower businesses, and build communities. The somebody from Security Bank called her. Visit https://www.securitybank.com/sustainability/ for more information on Security Bank's advocacy.
Source:Manila Times
June 13, 2022 02:28 UTC
KUWTT: Balancing act with China to continue | June 13, 2022
Here are the top stories of The Manila Times for Monday, June 13, 2022. READ: Balancing act with China to continueThe incoming administration of Ferdinand "Bongbong" Marcos Jr. seems set in maintaining the present balancing act in its relations with China — treating it as a partner but not ruling out diplomatic protests when warranted. Aquino intellectualizesREAD: IndependenceIn The Times editorial, it is remarked thatREAD: Cebu's order on face masks should prompt IATF reviewRead all about it. For more news and information, get a copy of The Manila Times on print, subscribe to its digital edition or log on to www.manilatimes.net. Follow us on Twitter, Facebook or Instagram and Keep Up With The Times.
Source:Manila Times
June 13, 2022 01:05 UTC
System eyed for wider fine art ownership
The platform aims to make art more accessible to collectors and enthusiasts, as well as ordinary individuals who are interested in fine art. Through it, art institutes that hold exclusive collections can showcase these by making their NFT versions available for purchase in tiles. Unit 256 will spearhead the building of the Artifract community — from conceptualization to branding, to scouting and recruitment of artists and art enthusiasts alike. "Our dedication to art preservation means that we are always on the lookout for ways to keep up with the demands of the times. This partnership with UBX is the best way of moving forward with our goals," Unit 256 co-founder Brian Poe-Llamanzares explained.
Source:Manila Times
June 12, 2022 22:08 UTC
Donating to fugitives may violate national security law: lawmaker
Citizens may violate the national security law by donating to self-exiled activists, a lawmaker said. Another crowdfunding site also priced its donation in Hong Kong dollars, believing it to be facing people in Hong Kong. In addition to raising money for protesters who fled overseas, some organization also claim to support imprisoned ones in Hong Kong. She said the police should intervene, and the authorities could also consider invoking the law to prohibit access to those platforms in Hong Kong. Therefore, donors may be cheated or even suspected of violating the National Security Law and involving in money laundering crimes.
Source:The Standard
June 12, 2022 14:26 UTC
EU pushes carbon reduction in traded goods
The commission published in July 2021 its proposal to create the CBAM, part of the Fit for 55 climate policy package under the EU Green Deal. The EU emissions trading system requires GHG-emitting industries to buy allowances for every ton of carbon produced. The CBAM requires importers to purchase emissions allowances for imported goods as if those goods had been produced domestically and subjected to the EU ETS. This is to prevent high domestic carbon prices from simply shifting emissions to other countries as EU producers compete with foreign producers that are not subject to a carbon price. Before that happens, the EU Council and the EU Parliament will negotiate to produce final legislation.
Source:Manila Times
June 12, 2022 14:05 UTC
China vows 'fight to the end' to stop Taiwan independence
China will "fight to the very end" to stop Taiwanese independence, the country's defence minister vowed Sunday, stoking already soaring tensions with the United States over the island. "We will fight at all cost, and we will fight to the very end," he said. "Those who pursue Taiwanese independence in an attempt to split China will definitely come to no good end," he added. Wei urged Washington to "stop smearing and containing China... stop interfering in China's internal affairs and stop harming China's interests". The United States and China have also been at loggerheads over Russia's invasion of Ukraine, with Washington accusing Beijing of providing tacit support for Moscow.
Source:The Standard
June 12, 2022 10:28 UTC
Four men holding charged with attempted wounding with intent for shooting in Central
Police laid holding charges against a local man and three non-ethnic Chinese men, aged 23 to 42, jointly with one count of attempted wounding with intent and each with one count of possession of offensive weapon. Police arrested the four men on last Friday, who were in suspected connection with an attempted wounding and possession of offensive weapon case happened in Central on the same day, in which someone opened fire and three NEC men were injured. The case will be mentioned at Eastern Magistrates’ Courts Monday morning. Active follow-up action by Organised Crime and Triad Bureau is underway.
Source:The Standard
June 12, 2022 10:28 UTC