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"As the United States deepens its relationship with the Philippines, it's important for regional security that Japan join in," a Japanese defence ministry source with knowledge of internal discussions on national security told Reuters. At a press briefing last week, Neil Imperial, the Philippines Assistant Secretary for Asian and Pacific Affairs, said Marcos wanted to "facilitate closer defence, security, political, economic and people-to-people ties" while in Japan. That sentiment is shared in Tokyo, which has been deepening security ties with nations that view China with concern. Those deals provide a framework for how Marcos and Kishida could also forge deeper military ties to counter their common adversary, say experts. "The Philippines is a critical security partner for Japan," said Narushige Michishita, a professor at the National Graduate Institute for Policy Studies (GRIPS) in Tokyo.

Summary Jan CPI at fresh 14-year high of 8.7%Faster-than-expected inflation raises odds of bigger rate hikeEconomic planning chief says inflation to moderate this yearMANILA, Feb 7 (Reuters) - Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices, raising the chance of the central bank delivering a bigger interest rate hike to tame prices when it meets this month. Given the faster-than-expected inflation in January, Bangko Sentral ng Pilipinas (BSP) looks certain to hike interest rates by at least 25 basis points and with a bigger 50 bps likely to be on the table, ING economist Nicholas Mapa said in a Tweet. The Philippines' broader stock index (.PSI) dropped 0.4% in early trade on expectations of a larger rate hike, while the peso had slipped 0.5% at 54.73 per dollar as of 0211 GMT. The main factor behind January's red-hot inflation was the 11.2% annual rise in food inflation, the quickest pace since 2009, and compared to the previous month's 10.6%, and the 1.6% rate in the same month last year. Elevated inflation, plus the need to maintain interest rate differentials between the U.S. and the Philippines, have forced the central bank to embark on aggressive tightening, with the benchmark rate (PHCBIR=ECI) rising by a total of 350 bps last year.

☆ Philippine Jan annual inflation accelerates to 8.7%
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

MANILA, Feb 7 (Reuters) - Philippine inflation accelerated to a fresh 14-year high in January, the statistics agency said on Tuesday, keeping the pressure on the central bank to tighten monetary policy. The consumer price index (CPI) rose 8.7% in January, way above the 7.7% forecast in a Reuters poll and topping the 8.1% rate in December. Core inflation, which strips out volatile food and fuel items, increased to 7.4% from December's 6.9%. The Philippine central bank, which had forecast January CPI to be between 7.5%-8.3%, said on Saturday it will focus on inflation rather than the Federal Reserve's 25-basis point hike when it meets on Feb. 16 to review key interest ratesIts governor has previously signalled further interest rates hikes at the central bank's first two policy meetings this year to bring inflation back within a target range of 2% to 4%. Reporting by Neil Jerome Morales and Enrico dela Cruz; Writing by Karen Lema Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Austin's Manila visit to bring deal on expanded base access - Philippines official
▼ + stars: | 2023-02-01 | by ( David Brunnstrom | ) www.reuters.com time to read: +4 min

WASHINGTON/MANILA, Feb 1 (Reuters) - U.S. Defense Secretary Lloyd Austin's visit to the Philippines this week is expected to bring an announcement of expanded U.S. access to military bases in the country, a senior Philippines official said on Wednesday. "There's a push for another four or five of these EDCA sites," the a senior Philippines official said. The Philippines official said increased U.S. access needed to benefit both countries. "The deal with Russia was very attractive because for a certain budget we were able to get something like 16 of these heavy-lift helicopters," the official said. He said the U.S. and Philippine marines were pursuing similar capabilities with ground-based rockets, with Manila's particular interest being to protect its South China Sea claims.

☆ Magnitude 6 earthquake hits Mindanao, Philippines – EMSC
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: 1 min

MANILA, Feb 1 (Reuters) - A magnitude 6.0 earthquake struck Mindanao in the Philippines on Wednesday, the European Mediterranean Seismological Centre (EMSC) said. The quake struck at a depth of 2 kilometres (1.24 miles), the EMSC said. It was felt in Davao City, hometown of former President Rodrigo Duterte, the region's civil disaster agency said on Facebook. The earthquake was felt more strongly in the nearby province of Davao de Oro. Reporting by Kanjyik Ghosh in Bengaluru; additional reporting by Neil Jerome Morales in Manila; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

[1/2] Construction of new buildings alongside older establishments is seen within the business district in Makati City, metro Manila, Philippines January 25, 2017. "We are confident that we will remain in our high growth trajectory," Baliscan told a media briefing on Thursday. On a quarter-on-quarter basis, GDP growth came in at 2.4% in October-December, compared with expectations for a 1.5% rise and the previous quarter's upwardly revised 3.3% expansion. Like the rest of the world, the Philippines is battling red-hot inflation, currently running at 14-year highs, which if not tamed could crimp domestic consumption, a major driver of growth. "We expect a difficult year ahead for the Philippines," Capital Economics said in a note, citing the impact of high inflation and tighter monetary policy on domestic spending.

☆ Philippines Q4 GDP grows 7.2%, faster than forecast
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

Economists in a Reuters poll had expected gross domestic product (GDP) to rise 6.5% in the last three months of 2022 from a year earlier. Third quarter growth was 7.6%. On a quarter-on-quarter basis, GDP came in at 2.4% in October-December, compared with expectations for a 1.5% rise and the previous quarter's 2.9% growth. For the full-year of 2022, growth was 7.6%, above the government's target of 6.5 to 7.5%, and stronger than the previous year's 5.7% expansion. Reporting by Neil Jerome Morales and Enrico dela Cruz; Writing by Karen Lema; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ Trainer plane crashes in Philippines, killing 2 air force pilots
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

[1/3] Rescuers retrieve the bodies of two Philippine military pilots killed in a plane crash during a training flight, in Pilar town, Bataan province, Philippines, January 25, 2023. Bureau of Fire Protection Region III Pilar Bataan/Handout via REUTERSMANILA, Jan 25 (Reuters) - Two Philippine military pilots were killed when their plane crashed during a training flight on Wednesday, the air force said. It said it has temporality grounded its fleet of SF-260 TP trainer planes. The Philippines' U.S.-allied military has suffered previous accidents involving its aircraft, much of which are old and date back to the Vietnam War era. In 2021, a military aircraft carrying troops bound for counter-insurgency operations crashed with 96 onboard, killing 53 people, in its worst military air accident in nearly three decades.

United and Liverpool are the two most successful teams in English football but have won only one league title each in the past decade. "You get a lot of money from the Premier League, from broadcasting and sponsorship, but you also have to put a lot of money in to keep your team." "The failure of the proposal and the failure of Premier League clubs to gain greater power in the running of the league are likely influencing factors," said Spencer Harris, Associate Professor of Sport Management at the University of Colorado. "The current owners (of Liverpool and United) don't have the finances to compete and invest on the level of these other clubs." "(There is a) general realisation that English Premier League teams, the two biggest ones per se, are relatively uncapitalized versus NFL franchises, which have been a barometer for a longer period of time."

The club is one of the world's biggest sporting brands and generated 689 million euros ($750.94 million) in revenue in 2021-22. "Chelsea getting sold in 2022 means a rate has been established on the value of a Premier League club," Joyce said. The Glazers bought United for 790 million pounds in 2005 in a highly-leveraged deal which has been criticised for loading debt onto the club. OLD TRAFFORD INVESTMENTThe Chelsea deal involved the new owners paying 2.5 billion pounds ($3.10 billion) to purchase shares while committing a further 1.75 billion pounds to invest in the club, particularly the stadium. Media reports suggest it would cost one to two billion pounds to renovate.

Bangladesh Bank has accused RCBC and several others, including top executives, of conspiring to steal its money. The New York Supreme Court ruled on Jan. 13 that, contrary to Rizal bank's argument, it does have jurisdiction over the case, and dismissed Rizal bank's motion against Bangladesh Bank. In the same ruling, the court ordered the Bangladesh central bank and RCRC to initiate mediation. In response to the ruling, Rizal bank said it would continue to fight the case. Bangladesh Bank has welcomed the court ruling, saying in a statement this week that it clears the way for the matter to progress in court in New York as needed.

☆ Philippines c.bank hopes to cut rates in 2024, flags RRR reduction
▼ + stars: | 2023-01-12 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

"By 2024, when pent-up demand is gone, then monetary policy hopefully at that time will be much looser than what we have now," he said. Another easing measure could involve banks' reserve requirement ratio, with a high probability of it being cut in the first half, Medalla told reporters. The BSP stands ready to take further monetary policy actions to bring inflation back to within a target-consistent path, Medalla said. The figure brought the average full-year inflation rate to 5.8%, also a 14-year high and above the official 2%-4% target band. "If the U.S. is increasing policy rates, we need not match it but if it's 50 (basis points), it's hard not to respond, at least partially," Medalla said.

☆ Philippines c.bank flags 25 or 50 bps rate hike next month
▼ + stars: | 2023-01-10 | by ( Neil Jerome Morales | ) www.reuters.com time to read: +2 min

"The pressure on us to match U.S. increases will be much lower," Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla told reporters. Inflation will likely fall below the midpoint of the target range by end-2023 or early 2024, he said. The central bank's main concerns, for now, are inflation and, to some extent, a strong dollar and Medalla said he could not rule out further rate hikes until inflation pressures ease. What I am worried about is we are late and there will be a greater sacrifice of output later on," he said. Reporting by Neil Jerome Morales Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ With few entry tests, Southeast Asia may gain most from China's travel revival
▼ + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com time to read: +4 min

Except for airplane wastewater testing by Malaysia and Thailand for the virus, the region's 11 nations will treat Chinese travellers like any others. As many as 76% of Chinese travel agencies ranked Southeast Asia as the top destination when outbound travel resumed, according to a survey released in December by trade show ITB China. Thailand already expects to welcome 5 million Chinese travellers this year, or about half of the 10.99 million of 2019. Neighbouring Malaysia projects 1.5 million to 2 million Chinese tourists this year versus 3 million before the pandemic. "But for Cambodia, it’s an invitation to Chinese people: Chinese tourists, come to Cambodia."

☆ Philippines' Marcos says tells Xi intends to pursue independent foreign policy
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

MANILA, Jan 5 (Reuters) - Philippine President Ferdinand Marcos Jr said on Thursday he had told his Chinese counterpart Xi Jinping that his administration intends to pursue an independent foreign policy. "I emphasised to President Xi how my administration intends to pursue an independent foreign policy, that we are more than willing to cooperate whenever possible in the pursuit of regional peace and our two countries' national interest," he said in an arrival speech in Manila following a trip to Beijing. Reporting by Neil Jerome Morales Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

[1/3] Philippines' President Ferdinand "Bongbong" Marcos Jr. and First Lady Liza Araneta Marcos are photographed with China President Xi Jinping and his wife Peng Li Yuan during a welcoming ceremony at the Great Hall of the People in Beijing, China, January 4, 2023. Office of the Press Secretary/Handout via REUTERSSummary Philippines, China sign 14 bilateral dealsXi pledged solution on plight of Filipino fishers -MarcosChina promised cooperation, investmentBEIJING/MANILA Jan 4 (Reuters) - China is ready to resume oil and gas talks and manage maritime issues "cordially" with the Philippines, China President Xi Jinping said on Wednesday, according to Chinese state television. Xi was speaking to his Philippines counterpart Ferdinand Marcos Jr, who was on a three-day visit to Beijing. The Philippines had previously raised concerns over reported Chinese construction activities and the "swarming" of Beijing's vessels in disputed waters of the South China Sea. While the Philippines is a defence ally of the United States, under previous leader Rodrigo Duterte it set aside a territorial spat over the South China Sea in exchange for Chinese investment.

☆ Philippine minister accuses senior police of involvement in drugs trade
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

MANILA, Jan 4 (Reuters) - Efforts by Philippine authorities to crack down on drugs under President Ferdinand Marcos Jr are being hampered by the involvement of a few high-ranking police officials in the narcotics trade, the interior minister said on Wednesday. Let us start afresh," Abalos told a news conference. While only a few senior police officers were believed to have a role in the drugs trade, they held critical positions, Abalos said, without elaborating. Police have rejected allegations the killings were executions, saying the drug suspects violently resisted arrest and that authorities acted in self-defence. Since Marcos took office in June, authorities have conducted more than 24,000 sting operations, arrested around 30,000 people and killed around a dozen drug suspects, according to police data.

Speaking ahead of his flight, Marcos said he looked forward to meeting President Xi Jinping and that "the issues between our two countries are problems that do not belong between two friends such as the Philippines and China". Last week, a Philippine foreign ministry official said talks with Xi would include China's actions in the South China Sea. While the Philippines is a defence ally of the United States, under Duterte it set aside a territorial spat over the South China Sea in exchange for Chinese investment. Beijing claims much of the South China Sea, where about $3 trillion in ship-borne trade passes annually, with the area becoming a flashpoint for Chinese and U.S. tensions around naval operations. But while De Castro expects the South China Sea issue to be brought up, he does not expect Beijing to alter its position.

☆ Philippines main airport scrambles to restore normalcy after power cut
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A passenger wearing a face mask and face shield for protection against the coronavirus disease (COVID-19) walks towards a counter in the Ninoy Aquino International Airport in Paranaque, Metro Manila, Philippines, January 14, 2021. The ageing Ninoy Aquino international airport was early on Monday handling a maximum 15 arrivals per hour compared to 20 during normal operations, said Cesar Chiong, general manager of the Manila International Airport Authority. The outage was the result of the unprecedented failure of both primary and secondary power supplies, he said. Chiong said the airport had introduced its own power system in 2018 but on Sunday, both the main and backup systems failed. The Ninoy Aquino International Airport has previously been ranked among the world's worst international gateways, with flight delays a regular occurrence, and a history of upgrades being delayed or abandoned due to disputes between the airport and contractors.

"It's not a question of if it will happen, it's now just a matter of how many and how fast." As the Lunar New Year holiday - typically a peak travel period for Chinese tourists - starts on Jan. 21, some businesses are already gearing up. Japan, however, is being cautious about Chinese tourism due to the rapid spread of the virus in China. Australia, Germany, Thailand and others, however, said they would not impose additional rules on Chinese travel for now, with France taking to social media platform Sina Weibo to emphasise it welcomed Chinese friends "with open arms". "I suspect any meaningful rebound will have to wait until the travel boom in June or July next year."

☆ Philippines hunts for 26 still missing after weekend weather disaster
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

MANILA, Dec 28 (Reuters) - Rescue teams across nine provinces in the Philippines raced on Wednesday to try to locate 26 people missing after weekend rains, floods and landslides that have killed at least 25 people, in one of its deadliest weather events this year. "Search and rescue operations continue, led by the coast guard as most of them were missing fishermen," the disaster agency's Diego Agustin Mariano told DZMM radio. The rain-induced floods and landslides are unlike previous disasters in the Philippines, which are typically triggered by more severe typhoons and tropical storms, of which the archipelago nation usually sees about 20 each year. The agency also recorded more than 300 flooded areas and 20 rain-induced landslides, which collectively have forced more than 80,000 people to take shelter in evacuation centres. The state weather agency said occasional light to moderate rains will continue in central and southern areas until Thursday.

In TV, the top 10 list ranges from the indefinable second season of “The White Lotus” to laugh-out-loud comedies and smoldering fantasy shows. “Catch the Fair One” is available on Hulu and various video-on-demand platforms. “Paris, 13th District” is available on Amazon Prime Video and various video-on-demand platforms. “Peter Von Kant” is available on various video-on-demand platforms. “Tár” is available on various video-on-demand platforms.

☆ Philippine death toll from Christmas rains and floods rises to 13
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

MANILA, Dec 27 (Reuters) - The death toll from Christmas day rains in southern Philippines has risen to 13, authorities said on Tuesday, with the search still on for 23 people as floods started to recede. Most of the deaths were caused by drowning from flash floods after two days of heavy rains disrupted Christmas celebrations and forced more than 45,000 people to take shelter in evacuation centres, the disaster agency said. Images on social media show coast guard, police and fire personnel wading through waist-deep floods and carrying residents along landslide-hit areas. Rescue operations continued and damage to agriculture was being assessed, Carmelito Heray, head of the disaster agency in Clarin town in Misamis Occidental province, told DZBB radio station. "The big damage here is livestock because their adult pigs, chickens, goats and cows are now gone," Clarin town mayor Emeterio Roa said on radio.

☆ How Ukraine's Zelenskyy went from comedian to wartime hero
▼ + stars: | 2022-12-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

Ukraine's President Volodymyr Zelenskyy in Kherson, Ukraine, on Nov. 14, 2022. Ukraine's President Volodymyr Zelenskyy on the cover of Time Magazine's 2022 "Person of the Year" edition. Ukrainian President Volodymyr Zelenskyy Zelenskyy enjoys high approval ratings among Ukrainians for rallying both the country's forces and public on a daily basis. Ukraine's President Volodymyr Zelenskyy visits Kherson, Ukraine, on Nov. 14, 2022. Ukrainian President Volodymyr Zelenskyy in Kherson, Ukraine, on Nov. 14, 2022.

☆ Philippine economic managers back bill creating sovereign fund
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

MANILA, Dec 9 (Reuters) - Philippine economic officials have thrown their support behind the creation of a sovereign wealth fund backed by President Ferdinand Marcos Jr amid opposition from some groups due to concerns over the risk of corruption and transparency. The economic managers "strongly support" the proposed sovereign wealth fund to generate additional income for the government, Finance Secretary Benjamin Diokno told a media briefing, as he called for the speedy passage of the bill creating the fund. "Direct benefits of the (fund) include increased investments in and funding of big ticket infrastructure projects, high return on green and blue projects, and countryside development including agriculture," Diokno said, reading a joint statement. Authors of the bill have agreed to remove that contentious provision, and instead proposed utilising the profits of the Philippine central bank to bankroll the fund. The plans come as neighbours like Malaysia and Singapore and more recently Indonesia have established sovereign wealth funds, with mixed results.

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