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HONG KONG, China (AFP) — Asian markets slumped in morning trade Tuesday, tracking global losses after Wall Street suffered its worst sell-off of the year as investors fretted over the US-China trade war. A sharp fall in the Chinese yuan’s value against the dollar — breaching the 7.0 level seen as a key threshold by investors — prompted US President Donald Trump to formally designate Beijing as a currency manipulator. Tensions have escalated since Trump […]
BEIJING, China (AFP) — China’s ruling Communist Party once again underlined its wholesale support for Hong Kong’s embattled leader on Tuesday as she struggles to contain increasingly violent anti-government unrest. The two-month crisis has become the biggest threat to Beijing’s rule of the semi-autonomous southern Chinese city since its handover from the British in 1997. One of the protesters’ key demands is for Hong Kong chief executive Carrie Lam to stand down. But, a day […]
(Eagle News)–President Rodrigo Duterte has approved the Department of Foreign Affairs’ proposal to stamp visas for Chinese nationals in their passports, the Palace said. The visas, Presidential Spokesperson Salvador Panelo said, will contain a map of the Philippines including the Southeast Asian country’s claims in the South China Sea. Chinese passports contain a map of China including its nine-dash line that delineates China’s expansive claims in the South China Sea. Prior to this, the practice […]
(Eagle News)–President Rodrigo Duterte will go to China this month to raise, among others, the arbitrary ruling invalidating China’s nine-dash line that delineated its expansive claims in the South China Sea. In a press conference, Presidential Spokesperson Salvador Panelo said when asked about his nearing trip by the end of August last night, Panelo said he replied “I said before there will be a time to invoke the arbitrary ruling. This is the time, that’s […]
(Eagle News)–The country’s headline inflation eased further to 2.4 percent in July, the Philippine Statistics Authority said. According to the PSA, this was the lowest inflation recorded since January 2017, and the same rate recorded in July 2017. Last month, the PSA said inflation rate was at 2.7 percent. According to the PSA, the downtrend was primarily due to the slower annual rate posted in the index of food and non-alcoholic beverages at 1.9 percent. […]
BEIJING, China (AFP) — China warned Tuesday it would take unspecified countermeasures if the United States goes ahead with plans to deploy ground-based missiles in the Asia-Pacific region. The comments come days after US Defense Secretary Mark Esper said the US was now free to deploy the weapons following its withdrawal last week from the Intermediate-Range Nuclear Forces (INF) treaty with Russia. “China will not stand idly by and will be forced to take countermeasures […]
WASHINGTON, United States (AFP) — The United States on Monday formally named China a currency manipulator, accusing Beijing of weakening the yuan as the two countries’ trade war escalates. The move came as China earlier on Monday allowed its currency to fall to its weakest levels against the dollar in almost a decade, prompting irate Twitter outbursts from US President Donald Trump and sending global equities markets diving into the red. Treasury Secretary Steven Mnuchin […]
by John BIERS NEW YORK, United States (AFP) — World stock markets plunged Monday as Beijing parried US President Donald Trump’s latest tariff announcements by moving to let the China yuan currency devalue and halting purchases of US agricultural products. The rebuttal sparked Wall Street’s worst selloff of the year and also led to significant declines in leading bourses in Europe and Asia amid fears the escalation of the months-long conflict will further dim the […]
SEOUL, South Korea (AFP) — North Korea threatened Tuesday to carry out more weapons tests after it fired its fourth set of projectiles in less than two weeks following the start of joint exercises between the US and the South. The rising temperature on the peninsula threatens to derail putative negotiations between Pyongyang and Washington, with the North saying the combined drills were a “flagrant violation” of the process. Pyongyang has always been infuriated by […]
WASHINGTON, United States (AFP) — President Donald Trump on Monday ordered a freeze on all Venezuelan government assets in the United States and barred transactions with its authorities, in Washington’s latest move against President Nicolas Maduro. Trump took the step “in light of the continued usurpation of power by Nicolas Maduro and persons affiliated with him, as well as human rights abuses,” according to the order. The Wall Street Journal said the move was the […]
(Eagle News)–A 3.0-magnitude earthquake struck Surigao del Sur early Tuesday, Aug. 6. The Philippine Institute of Volcanology and Seismology said the quake, of tectonic origin, hit 2 kilometers northwest of Carmen at 2:53 a.m. Depth of focus was 136 kilometers. No damage to property nor aftershocks were recorded.
(Eagle News)–President Rodrigo Duterte on Monday, Aug. 5, lamented what he said were the irregularities in the remittance of revenues from small town lottery and Peryahan ng Bayan operations. “STL, Peryahan ng Bayan. P—-, puro nakaw. Ang i-remit nila minus ‘yung kinukunan na nila. So I had to stop it,” Duterte said. Earlier, the President said the stoppage order–which also covers keno and lotto operations–would be in effect pending a probe into the “massive corruption” […]
