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WASHINGTON-based World Bank (WB) Group has committed an emergency loan of $500 million to support the Philippines’ efforts to rebuild the communities affected by Super Typhoon Yolanda. “In the aftermath of the typhoon, we have seen courageous efforts by the people of the Philippines to get back on their feet,”…

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THE Court of Appeals (CA) has absolved Globe Asiatique President Delfin Lee from the crime of syndicated estafa and ordered the Philippine National Police, National Bureau of Investigation and the Department of Justice (DOJ) to stop his arrest as it quashed the arrest warrant issued by a Pampanga Regional Trial…

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GUIUAN: Grieving survivors of a monster typhoon in the mainly Catholic Philippines gathered in shattered churches on Sunday, listening to soothing sermons, asking questions of God and feeling a ray of hope. Nine days after some of the strongest winds ever recorded and tsunami-like waves destroyed dozens of coastal towns…

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President Benigno Aquino 3rd on Sunday traveled to typhoon-hit areas in Eastern Visayas to check the progress of government relief operations there. Accompanied by Interior Secretary Manuel Roxas 2nd, Social Welfare Secretary Corazon Soliman, Public Works Secretary Rogelio Singson and Speaker Sonny Belmonte, the President arrived at around 11 a.m.…


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A monster typhoon that laid waste to the central Philippines wiped out livelihoods as well as homes, leaving small traders and shopowners facing a long and perilous road back to solvency. In the immediate aftermath of Super Typhoon Haiyan—one of the most powerful storms ever to make landfall—future planning had…

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Some typhoon survivors who wanted to take advantage of free calls being offered by telecommunication companies were turned away by local officials because the victims were not their supporters. Some of the victims who wanted to phone their relatives in Manila and other areas were driven out of the queue…

Business

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Part I – Responsibility for the FS preparation This is the maiden issue of our column, From Where We Sit, which The Manila Times has graciously permitted us, Partners of P&A Grant Thornton, to write on a weekly basis. We consider this privilege a great honor. This first issue will…

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Following the end of World War 2 there was in the UK a desperate housing shortage, many houses built before the war had been obliterated by bombing, the military which had been fighting abroad was to return home and there was an explosion expected in the birth rate—the baby boomer…

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Economic growth this year is expected to stay below the government’s target, with forecasts pointing to a continued slowdown or a modest improvement from last year’s 5.8 percent. Domestic demand will continue to be the main driver, analysts said, amid risks such as the El Nino weather phenomenon, a change…

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NationaL Economic and Development Authority (NEDA) Deputy Director General Emmanuel Esguerra has been named acting Socioeconomic Planning Secretary, replacing Arsenio Balisacan who will be moving to the newly-established Philippine Competition Commission. Presidential Communications Secretary Herminio Coloma Jr. on Monday said President Benigno Aquino 3rd had approved the appointment, with the…

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Monetary policy settings in the Philippines do not have to be in sync with other central banks given the country’s strong fundamentals and well-anchored inflation expectations, the Bangko Sentral ng Pilipinas (BSP) chief said on Monday. “We monitor what advanced economies’ central banks and central banks in the region do…

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The Philippines’ fourth-quarter growth improvement, to 6.3 percent from 6.1 percent three months earlier, has been deemed “credit positive” by Moody’s Investor Service. “The strong growth is credit positive because it demonstrates the economy’s resistance to global shocks and points to the government’s ability and willingness to shore up domestic…

Regions

World

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KIEV: War-torn Ukraine has distanced itself from a European Union (EU)-brokered agreement with Russia that would have restored its gas supplies during winter and helped rebuild trust between the neighboring foes. EU Energy Commissioner Guenther Oettinger emerged from hours of acrimonious negotiations in Berlin on Friday to pronounce the three-month…

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Avisit earlier this month by its President Pranab Mukherjee saw India sign several memorandums of understanding with Vietnam. Among them, the extension of a line of credit worth $100 million on defense procurement is particularly significant. This deal gives defense relations between India and Vietnam another shot in the arm,…

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KABUL: Afghanistan will host a grand presidential inauguration on Monday, with former US-based academic Ashraf Ghani taking power as North Atlantic Treaty Organization troops end their 13-year war without defeating the fierce Taliban insurgency. Ghani takes over from outgoing President Hamid Karzai after a three-month standoff over disputed election results…

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HONG KONG: Hong Kong pro-democracy group Occupy Central on Sunday launched a mass civil disobedience campaign for greater political freedoms from Beijing, as defiant protesters stood their ground outside the city’s government headquarters. The youthful crowds outside the government complex swelled on Saturday night to more than 10,000 people—organizers said…

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OTAKI, Japan: More than 30 hikers were found in “cardiac arrest” near the peak of an erupting volcano in Japan on Sunday, police said, using a term usually applied before doctors can certify death. Rescue workers found them near the summit of 3,067-meteR (10,121-foot) Mount Ontake, which erupted around noon…

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UNITED NATIONS, United States: North Korea Foreign Affairs Minister Ri Su Yong said on Saturday (Sunday in Manila) before the UN General Assembly that despite recent gains in economic development, his country continued to face “serious obstacles” because of the continuing divisions separating the Korean peninsula. “Despite unprecedented persistent economic…

Today's Breaking News

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BRASILIA: A debate about sexual violence in Brazil sparked by a lawmaker’s comments on the floor of Congress has spread beyond government chambers, triggering a national debate about rape and sexism in the South American nation. Opposition congressman Jair Bolsonaro told Maria do Rosario Nunes in Congress he would not…

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LOS ANGELES: The devastating cyberattack on Sony Pictures could see the Hollywood studio lose hundreds of millions of dollars in revenue and incur massive recovery costs, experts say. The cancellation of “The Interview,” which President Barack Obama called a “mistake,” has significantly escalated the potential losses of last month’s hack,…

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MADRID: A man rammed a car loaded with a homemade bomb into the headquarters of Spain’s conservative ruling party on Friday but no blast nor injuries resulted, police said. The car contained gas canisters and nearly six kilos (13 pounds) of ammonium nitrate, a common fertiliser compound, a police spokeswoman…

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CAIRNS, Australia: The mother of most of the eight children reportedly found stabbed to death in a house in the Australian city of Cairns has been arrested for murder, police said Saturday. “The 37-year-old mother of several of the children involved in this incident has been arrested for murder overnight…

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WASHINGTON: US President Barack Obama warned North Korea it would face retaliation for a crippling cyber attack on Sony Pictures over an irreverent film comedy that infuriated Pyongyang. Obama said the movie giant had “made a mistake” in canceling the Christmas Day release of “The Interview,” a madcap romp about…