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☆ Philippines top court voids old South China Sea energy deal
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

Companies Philippines Oil FollowMANILA, Jan 10 (Reuters) - The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling the constitution does not allow foreign entities to exploit natural resources. The decision, on an agreement that expired in 2008, could complicate efforts by China to revive oil and gas exploration talks with the Philippines in areas of the South China Sea that are not in dispute. China and the Philippines have sparred for decades over sovereignty and natural resources in the South China Sea, which led to a landmark arbitration case in 2016 won by Manila. Efforts to find a legally viable way to work together on energy exploration have repeatedly hit walls. China claims jurisdiction over almost the entire South China Sea and the risk of energy activities being disrupted have made it tricky for the Philippines to find foreign partners, despite an arbitration court clarifying what Manila's entitlements were.

☆ Flights to and from Philippine capital suspended due to technical issues
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +1 min

A total of 282 flights were either delayed, cancelled or diverted to other regional airports, affecting around 56,000 passengers at Manila's Ninoy Aquino International Airport (NAIA), the airport operator said on Sunday. As of 0800 GMT, "the system has been partially restored thereby allowing limited flight operations," the Manila International Airport Authority said in a statement. It offered passengers due to fly on Sunday free rebooking or the option to convert tickets to vouchers. Philippine Airlines (PAL.PS) said a number of flights were diverted, cancelled and delayed, and travellers should check the status of their journey before proceeding to the airport. Reporting by Enrico Dela Cruz; Editing by Neil Fullick and Peter GraffOur Standards: The Thomson Reuters Trust Principles.

The additional demand for liquefied natural gas (LNG) and tighter supplies of piped gas placed enormous strain on the global market, spurring an energy crisis that pushed gas prices to historic highs. Newcastle coal futures have soared almost 140% in 2022, the biggest jump since 2008. U.S. gas futures jumped by more than 20% and Dutch wholesale gas prices rose by almost 8%, both rising for a third consecutive year. Power-generation fuels - coal, natural gas and gasoil - outperform other energy products in 2022 following cut in Russian energy supplies to EuropeBecause Europe will continue to import LNG to rebuild gas inventories next year after winter, gas prices are expected to remain elevated as limited new supplies come onstream. However, a European cap on gas prices starting in February could keep a lid on the market and reduce the volatility seen this year.

Industrial metals, iron ore and rubber are on track to finish in negative territory, pushed down in 2022 by China's strict zero-COVID policy and fears of a world recession. The additional demand for liquefied natural gas (LNG) amid tighter supplies of piped gas placed enormous strain on the global market, spurring an energy crisis that pushed gas prices to historic highs. U.S. gas futures and Dutch wholesale gas prices have jumped by more than 20%, rising for a third consecutive year. Power-generation fuels - coal, natural gas and gasoil - outperform other energy products in 2022 following cut in Russian energy supplies to EuropeBecause Europe will continue importing LNG to rebuild gas inventories next year after winter, gas prices are expected to remain elevated amid limited new supplies coming on-stream. However, a European cap on gas prices starting in February could help keep a lid on the market and reduce the volatility seen this year.

☆ Philippines floods, landslides kill 44 after Christmas Day rains
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

MANILA, Dec 30 (Reuters) - The death toll from flooding and landslides caused by Christmas Day rains in the southern Philippines rose to 44, with 28 others still unaccounted for, the national disaster agency said on Friday. Damage to infrastructure and crops has been estimated at 1.36 billion pesos ($24.4 million), it said in a bulletin. Heavy rains submerged villages, towns and highways in the Visayas and Mindanao regions on Christmas Day, forcing more than 50,000 people to flee their homes. The floods had subsided but intermittent rains continued, the agency said. So we have to keep watching the other areas also," a presidential palace statement quoted him as saying.

☆ Jim Cramer's top 10 things to watch in the market Monday: Stocks, Elon Musk, Amazon
▼ + stars: | 2022-12-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Club holding Amazon (AMZN) price target cut to $150 per share from $170 at Evercore ISI. Piper has an odd number cut on Exxon (XOM), not a Club stock, even though very positive. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Costlier vegetables drove food inflation up to 10.0% in November from a year earlier, the fastest pace since September 2018, due to supply constraints caused by a typhoon. Excluding the volatile food and energy components, the core CPI rose 6.5%, faster than October's 5.9%. Year-to-date inflation stood at 5.6%, well outside the central bank's 2%-4% target for the year. ING economist Nicholas Mapa said the central bank would likely opt for a 50-basis point rate hike this month, which would take the policy rate (PHCBIR=ECI) to 5.50%. "Demand side pressures persist with revenge spending related items like restaurant and personal services seeing higher inflation," Mapa said in a message on Twitter.

☆ Philippine leader hopes court will reconsider Manila power deal
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +2 min

The court allowed South Premiere Power Corp., a unit of San Miguel Corp (SMC.PS) to suspend a power supply agreement with Manila Electric Company (Meralco) (MER.PS) after the companies were prevented from raising tariffs by the regulator. "We hope that the CA (Court of Appeals) will reconsider and include in their deliberations the extremely deleterious effect this will have on power prices for ordinary Filipinos," Marcos was quoted as saying, describing the decision as "unfortunate". South Premiere and Meralco had sought to raise prices amid higher costs of coal, which the Energy Regulatory Commission rejected in September citing fixed prices set under power supply agreements. Marcos, who began his six-year term in June, has promised lower electricity rates, which are among the highest in Asia. Higher electricity prices would put further pressure on Philippine inflation, which hit the fastest pace in nearly 14 years last month.

REUTERS/Dado Ruvic/IllustrationSINGAPORE, Nov 17 (Reuters) - The dollar was little changed on Thursday as investors digested mixed U.S. economic data, while the British pound rose ahead of the government's budget update. Yet the dollar paused on Thursday after U.S. retail sales data for October, released on Wednesday, came in stronger than expected. "Markets have positioned for the Fed to pivot (but) the U.S. retail sales data very much challenges that narrative," said Commonwealth Bank of Australia currency strategist Kim Mundy. Traders will also scrutinise speeches from numerous Fed officials on Thursday for hints about rate hikes. China's yuan weakened 0.36% to 7.126 per dollar as new COVID cases caused concerns that officials could order more lockdowns.

LONDON, Nov 17 (Reuters) - The pound rose for a third day against the dollar on Thursday ahead of finance minister Jeremy Hunt's new budget full of "tough but necessary" measures to control inflation. Against the euro , sterling has only risen by around 6% since late September and by 9% against the yen. Benchmark 10-year gilts are around 3.3%, their lowest since mid-September, just before Truss and Kwarteng released their budget. Typically, this would have dragged on the pound, given the lower yield advantage it affords investments in sterling. Adding an extra element of risk on Thursday, are the economic forecasts of the independent Office for Budget Responsibility, which did not release any kind of breakdown of the impact of Truss' budget in September.

The economy would likely grow above the government's 6.5%-7.5% growth target for 2022, Economic Planning Secretary Arsenio Balisacan told a media briefing. On a quarterly basis, gross domestic product (GDP) rose 2.9% versus a 0.1% contraction in April-June and an expected 1% rise, the data showed. "While these developments are remarkable, I want to underscore that our nation still faces a considerable burden in the form of high inflation," Balisacan said. Balisacan said the government remained committed to fighting inflation to protect people's purchasing power, including by tightening monetary policy. "In the face of surging prices, that's a big upside surprise," said ING economist Nicholas Mapa.

☆ Philippines October inflation at highest since December 2008
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +1 min

MANILA, Nov 4 (Reuters) - Philippine annual inflation accelerated to 7.7% in October (PHCPI=ECI), the highest since December 2008 and up from the previous month's 6.9%, the statistics agency said on Friday. Last month's inflation rate was above the 7.1% median forecast in a Reuters poll, and near the top end of the central bank's 7.1% to 7.9% forecast for the month. Inflation in January-October averaged 5.4%, well outside the official full-year target range of 2% to 4%. Core inflation, which strips out volatile food and fuel items, increased to 5.9% in October from an upwardly revised 5.0% in September, the Philippine Statistics Authority said. Reporting by Neil Jerome Morales; Writing by Enrico Dela Cruz Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

"(The Fed hike) supports the BSP's stance to hike its policy rate by the same amount in its next policy meeting on Nov. 17," Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a statement. "The BSP deems it necessary to maintain the interest rate differential prevailing before the most recent Fed rate hike, in line with its price stability mandate and the need to temper any impact on the country's exchange rate of the most recent Fed rate hike," he said. Ruling out an off-cycle policy move, Medalla said the hike would be effective after the Nov. 17 meeting. Economists welcomed the rate hike signal, viewing it as intended to reassure markets. Roces expects rate increases of 75 bps this month and 50 bps on Dec. 15, the last policy meeting this year.

☆ Storm Nalgae death toll climbs to 48 in Philippines, 22 missing
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

[1/4] A mother and a child wade through a flooded road following heavy rains brought by Tropical Storm Nalgae, in Las Pinas City, Metro Manila, Philippines, October 30, 2022. REUTERS/Lisa Marie DavidMANILA, Oct 30 (Reuters) - The death toll from flooding and rain-induced landslides in the Philippines has climbed to 48, the country's disaster agency said on Sunday, with 22 others recorded missing after tropical storm Nalgae inundated many parts of the archipelago. Most of the casualties were recorded in the southern autonomous region of Bangsamoro, where 40 died due to landslides, with 10 still missing, the disaster agency said. Nalgae, which made landfall five times, is this year's second-most deadly cyclone to hit the Philippines, which sees an average of 20 tropical storms annually. The Philippine weather bureau said Nalgae was tracking westward and it could re-intensify into a typhoon over the South China Sea while heading toward southern China.

☆ Philippines' death toll from storm Nalgae climbs to 80, disaster agency says
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: 1 min

MANILA, Oct 31 (Reuters) - The Philippines has recorded 80 deaths from flooding and rain-induced landslides after tropical storm Nalgae barrelled across the country over the weekend, with 31 others reported missing, the country's disaster agency said on Monday. Half of the death toll was recorded in the southern autonomous region of Bangsamoro, where 10 were recorded missing, the agency said in a new bulletin. Reporting by Enrico Dela Cruz; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Philippines sees room for LNG despite renewables push
▼ + stars: | 2022-10-23 | by ( Enrico Dela Cruz | ) www.reuters.com time to read: +2 min

MANILA, Oct 23 (Reuters) - The use of LNG imports for power generation in the Philippines next year should not be a disincentive for investors in renewables, the country's energy chief said on Sunday. The government, which is targeting annual economic growth of 6.5% to 8% between 2023 and 2028, has stopped accepting new proposals for coal-based power projects to support investment in renewables and natural gas. It aims to increase the share of renewable energy sources such as solar, wind and tidal in the energy mix to 35% by 2030 and to 50% by 2040, up from a little more than 20% last year. Lotilla also expressed support for nuclear power, though he said the plan requires legislation on the legal and regulatory framework. "There is room for more sources of energy."

Last month, the Food and Agriculture Organization's global rice price index rose 2.2% to hit an 18-month high. "The international market has gone up and it will go up further," said Nitin Gupta, vice president for Olam India's rice business. Reuters GraphicsVietnam's unmilled rice output is forecast to hold flat to last year's 43 million tonnes, according to government data. Neighbouring Thailand is aiming to export 7.5 million tonnes this year, up about 7% from its previous target of 7 million tonnes, said Anucha Burapachaisri, a government spokesman. Meanwhile, Pakistan cannot capitalise on India's export curbs after severe flooding ravaged its crop.

☆ Typhoon submerges villages, farmlands in northern Philippines
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

MANILA, Oct 16 (Reuters) - A tropical storm that made landfall early on Sunday in the northern Philippines has intensified into a typhoon, the weather bureau said, bringing moderate to heavy rains that submerged villages and farmlands. Nearly a thousand people were preemptively evacuated to safer ground, according to the disaster monitoring agency. Nesat, packing winds of 120 km (75 miles) per hour, may further intensify while moving towards the South China Sea, the weather bureau said. President Ferdinand Marcos Jr said on Twitter government assistance was on the way to the affected communities. Register now for FREE unlimited access to Reuters.com RegisterReporting by Adrian Portugal; Additional reporting by Enrico Dela Cruz; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Philippines' main Luzon island braces for Typhoon Noru
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterMANILA, Sept 24 (Reuters) - The Philippines' disaster agency was on high alert on Saturday as an approaching tropical storm intensified into a typhoon which is expected to bring moderate to heavy rainfall and severe winds over a swathe of the main Luzon island. Typhoon Noru, with sustained winds of up to 120 km per hour (75 mph), was expected to intensify prior to landfall in Aurora or Quezon province on Sunday, the weather bureau said in its latest advisory. Register now for FREE unlimited access to Reuters.com Register"The highest emergency preparedness and response protocol has been activated" in several regions, including Metro Manila, the agency said in a statement. The weather bureau said Noru was moving westward and likely to emerge over the South China Sea by late Sunday or early Monday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Enrico Dela Cruz; Editing by Clelia Oziel and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ Japan intervened in forex market to stem weak yen - top currency diplomat Kanda
▼ + stars: | 2022-09-22 | by ( Neil Jerome Morales | Enrico Dela Cruz | ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterCoins and banknotes of Japanese yen are seen in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO, Sept 22 (Reuters) - The Japanese government has intervened in the foreign exchange market to sell dollars for yen to stem the Japanese currency's recent sharp falls, top currency diplomat Masato Kanda said on Thursday. "We have taken decisive action (in the exchange market)," he told reporters, responding in the affirmative when asked if that meant intervention. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tetsushi Kajimoto Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Rate hikes, Ukraine war, China woes dim Asia growth outlook -ADB
▼ + stars: | 2022-09-21 | by ( Enrico Dela Cruz | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoMANILA, Sept 21 (Reuters) - The Asian Development Bank (ADB) on Wednesday cut its growth forecasts for developing Asia for 2022 and 2023 amid mounting risks from increased central bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China. Register now for FREE unlimited access to Reuters.com Register"Since the April Asian Development Outlook, various headwinds have strengthened," said ADB Chief Economist Albert Park. The outlook for the sub-regions this year remained mixed, with Southeast Asia and Central Asia expected to grow faster than previously projected at 5.1% and 3.9%, respectively. The ADB, however, kept its growth forecast for South Asia at 6.5%, despite a lower growth estimate for India and an economic crisis in Sri Lanka. The Manila-based lender has at the same time raised its inflation forecasts in the region, as supply disruptions continue to boost food and fuel prices.

☆ Un bebeluș a fost găsit într-un rucsac, atârnând de un gard. Câţiva muncitori l-au auzit plângând (VIDEO)
▼ + stars: | 2021-07-06 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Micuţul abandonat a fost preluat de serviciile de la protecţia copilului şi internat în spital pentru verificări medicale. Descoperirea incredibilă a fost făcută la Norala, în provincia Cotabato de Sud, Filipine, în data de 29 iunie. Nu este prima dată când un bebeluş este găsit într-o pungă atârnată de un gard, în Filipine. Un gunoier a făcut descoperirea după ce a auzit plânsetele disperate ale micuţului. Copilul a fost plasat în grija serviciilor sociale din localitate.

Persons: Mary Kris, Cruz, Mary, Copilul Locations: bebeluşul, Cotabato de Sud, Filipine, Cruz

☆ Incident aerian în SUA: Avion deviat după ce un pasager a încercat să intre în cabina piloţilor
▼ + stars: | 2021-06-05 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: captură videoIncident aerian în SUA: Avion deviat după ce un pasager a încercat să intre în cabina piloţilorUn pasager aflat la bordul unui avion din SUA a încercat să intre în cabina piloţilor. Zborul a fost deviat către New Mexico, vineri după-amiază, după ce un pasager a încercat să intre în cabina piloţilor, transmite dw.com, citată de Mediafax. Ulterior, avionul a fost deviat către Albuquerque International Sunport, unde a aterizat în jurul orei locale 14:20. „Mulţumim echipajului şi pasagerilor zborului Delta 386... care au ajutat la reţinerea unui pasager neascultător în timp ce zborul a fost deviat către Albuquerque”, a transmis linia aeriană printr-un comunicat, scrie digi24.ro. Pasagerul a fost luat în custodia poliţiei şi a FBI.

Persons: Mediafax ., Jessica Robertson, June, . Pasagerul Organizations: FBI, Mediafax, Air, Albuquerque International Locations: SUA, New Mexico, Los Angeles, Nashville, and, Albuquerque

☆ Nika Kriznar a cucerit Globul de Cristal al Cupei Mondiale feminine de sărituri cu schiurile
▼ + stars: | 2021-03-28 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

Slovena Nika Kriznar a cucerit în premieră Globul de Cristal al Cupei Mondiale feminine de sărituri cu schiurile. Sportiva și-a asigurat trofeul după ce în ultima etapă a sezonului, desfășurată pe trambulina dela Ceaikovski, Rusia, s-a clasat pe locul trei. Aceasta din urmă a și câștigat ultima etapă. Ea a reuşit o săritură de 146,5 metri, care i-a adus 136,1 puncte. Competiția masculină s-a disputat la Planica, Slovenia și a fost câștigată de neamțul Karl Geiger.

Persons: Slovena Nika Kriznar, Kriznar, Sara, austriaca Marita Kramer, Ea, Karl Geiger . El, Ryoyu, Markus Eisenbichler Organizations: Cristal, Cupei Mondiale Locations: Slovena, Ceaikovski, Rusia, austriaca, Planica, Slovenia

☆ Caz strigător la cer într-o biserică din Capitală. Enoriașii, alungați de către preot din lăcașul sfânt dacă poartă mască (VIDEO)
▼ + stars: | 2021-03-28 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +1 min

Caz strigător la cer într-o biserică din Capitală. Enoriașii ar fi fost alungați din lăcașul sfânt dacă poartă mască. Cel puțin asta este descris într-o postare pe o rețea de socializare. Eu azi am fost la biserica din parcul ”La izvor” să fac o pomenire de sâmbăta morților. M-am echipat cu mască și mare mi-a fost dezamăgirea când am fost dată afară din biserică de către acel popă care mi-a zis să scot masca.

Organizations: Echipa Locations: Capitală, Izvor

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