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The number of new vehicle registrations is boasted about, for there has apparently been a four- or five-fold increase in the rate of new vehicle registrations over the last five or six years, which has “surprised” the authorities. The Metro Manila traffic situation is cited as a sure sign of…

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ASIAN financial leaders are strengthening links with finance ministers in the region to promote funding for their infrastructure and capital market development, a move in line with a Philippine-led economic initiative supported by the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC). Hiroyuki Suzuki, chair of ABAC’s Finance and Economics…

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The Philippine peso closed Wednesday’s trade at P46.32 to $1—a new five-year low—as better producer prices from the US heightened the market’s anticipation of a Federal Reserve interest rate hike in September. The local unit lost 11 centavos from its previous close of P46.21. Monday’s close marks the weakest finish…

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PHILIPPINE shares continued to bear the brunt of global woes, particularly the devaluation of the Chinese yuan and concerns over the US rate hike that prompted a selloff from foreign investors on Monday. The China and US stories are on top of the seasonal slowdown during the “Ghost Month” of…


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Personal remittances by overseas Filipino workers (OFWs) rose 5.8 percent year-on-year in June, marking the highest inflow in six months as demand for skilled Filipinos abroad remained stable. Bangko Sentral ng Pilipinas (BSP) data showed that personal remittances increased to $2.41 billion in June from $2.27 billion in the same…

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Strong growth in the Philippines’ construction sector should continue until the yearend, supported by a robust private sector and stable monetary policy, according to a report published by BMI Research, think tank of the Fitch Group. Despite the sector’s slower growth pace of 4.5 percent year-on-year in the first quarter,…

Regions

World

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JAKARTA: Chinese President Xi Jinping arrived in Indonesia on Wednesday on his first trip to Southeast Asia since taking power, as Beijing seeks to tap into the country’s booming economy. He was given a red-carpet welcome, with a brass band playing and a military parade, in the capital Jakarta before…

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GENEVA: Sweden is the best place to grow old and Afghanistan the worst, according to a United Nations-backed study on Tuesday (Wednesday in Manila) that warns many countries are ill-prepared to deal with the old age time bomb. In a rapidly greying world, the Global AgeWatch Index—the first of its…

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ROME: Italian Prime Minister Enrico Letta warned lawmakers ahead of a crucial vote of confidence on Wednesday that the country ran a “fatal” risk as Silvio Berlusconi tries to topple his government. “Italy runs a risk that could be a fatal risk. Seizing this moment or not depends on us,…

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MOSCOW: Russian investigators on Wednesday formally charged two of 30 detained Greenpeace campaigners for piracy over an open-sea protest against Arctic oil drilling, an activist said. “The first two activists have been charged with piracy,” said Mikhail Kreindlin, a representative of Greenpeace “These activists are from Brazil and Britain.” He…

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NAIROBI: Somalia’s Shebab Islamists threatened on Wednesday to step up militant attacks against Kenya, after Nairobi refused to pull its troops out of Somalia. The al-Qaeda linked Shebab claimed responsibility for last week’s attack on Nairobi’s Westgate shopping mall, in which at least 67 people died, with 39 more listed…

Today's Breaking News

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The Department of Budget and Management (DBM) has released some P584.7 million to the Department of Agriculture-National Irrigation Administration (DA-NIA) for the restoration and rehabilitation of irrigation systems damaged by natural calamities. DBM Secretary Florencio “Butch” Abad on Monday said the release was charged against the DA-NIA’s P3.49-billion budget for…

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KABUL: The Taliban on Monday vowed to target Afghanistan’s presidential election, urging their fighters to attack polling staff, voters and security forces before the April 5 vote to choose a successor to Hamid Karzai. Previous Afghan elections have been badly marred by violence, with at least 31 civilians and 26…

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KUALA LUMPUR: Malaysia said on Monday there is still no trace of wreckage from a jet that vanished with 239 people on board, deepening the anguish of relatives two days after the “mystifying” disappearance. A potential breakthrough emerged Sunday when an aircraft scouring waters off southern Vietnam — part of…

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ZAMBOANGA CITY: Dozens of communist rebels attacked a police headquarters and killed two and wounded three other policemen in a daring raid at dawn Monday in the southern Philippines, security officials said. The attack occurred even as police and military earlier warned all its commanders to stay on high alert…