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FRANKFURT: The European Central Bank (ECB) could restore a key channel of financing to Greek banks if Athens agrees to continue its program of reforms, Bundesbank President Jens Weidmann said on Thursday (Friday in Manila). Greece formally requested a six-month extension to its EU loan program on Thursday. In its…

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BRUSSELS: Europe and Greece battle on Friday to reach a last-minute bailout compromise with powerhouse Germany adamant that Athens accept further austerity in return for more aid. Finance ministers from the 19-member eurozone meet in Brussels later Friday to consider a take-it or leave-it proposal by Athens to extend its…

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HONG KONG: A weaker yen helped Japan’s Nikkei extend a recent rally after closing at a 15-year high in the previous session, but the euro struggled against other currencies ahead of crunch Greek debt talks. With most of Asia’s equities markets closed for the Lunar New Year holiday trade was…

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BRUSSELS: Eurozone business activity hit a seven-month high in February, extending gains despite concerns over the Greek debt crisis as the economy recovers from a soft patch, a key survey showed Friday. Analysts broadly welcomed the closely-watched Markit Economics report after the economy had looked in real difficulty late last…


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WASHINGTON, D.C.: An internal investigation over the World Bank’s controversial handling of a $1 billion loan from China to help poor countries has found no evidence of fraud, according to documents reviewed on Thursday (Friday in Manila) by Agence France-Presse. A law firm hired by the global development lender said…

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LONDON: British finance minister George Osborne on Friday defended his government’s response to the scandal engulfing London-based HSBC bank, saying the matter should be left for tax officials to investigate. Osborne said allegations that London-based HSBC’s Swiss division helped clients in more than 200 countries dodge taxes on accounts containing…

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NEW YORK: Boston bombing suspect Dzhokhar Tsarnaev wrote a note before his capture in which he called the victims “collateral damage” for US action in Afghanistan and Iraq, local media reported on Thursday. “When you attack one Muslim, you attack all Muslims,” Tsarnaev also scribbled on the inside wall of…

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CHITTAGONG: Bangladesh began cleaning up on Friday after a killer cyclone wrecked thousands of homes along its coast while breathing a sigh of relief that the damage was not much worse. Fourteen people are so far known to have died in Bangladesh after Cyclone Mahasen, which has since been downgraded…

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WASHINGTON, D.C.: Indonesia’s foreign minister called on Thursday (Friday in Manila) for a new treaty spanning across Asia to help build trust, warning of the potential for conflict in the fast-changing region if tensions fester. On a visit to Washington, Foreign Minister Marty Natalegawa said that a new treaty could…

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BEIJING: Chinese premier Li Keqiang embarks this weekend on his first foreign trip since taking office, heading to India, Pakistan, Switzerland and Germany as Beijing seeks to address security and economic disputes. Li’s journey follows one by Chinese President Xi Jinping to Russia and three African nations in March after…

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TOKYO: Three Chinese government ships entered the waters of disputed islands on Friday, Japan’s coastguard said, more than a year after the then-Tokyo governor set off the row by announcing plans to buy them. The Chinese maritime surveillance vessels were spotted off the Senkaku islands, which China calls the Diaoyus,…

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SEOUL: North Korea is now thought to have around twice as many mobile missile launchers as previously estimated by Seoul, a report said on Friday, quoting a state-run military analysis unit. Yonhap news agency said that, the Korea Institute for Defense Analyses (KIDA) had revised its figures after seeing a…

Today's Breaking News

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Google boss Eric Schmidt said Monday that the tech giant had developed new technology that makes it harder to find child sexual abuse images on the web. Writing in British newspaper the Daily Mail, Google’s executive chairman said more than 100,000 searches would no longer feature such material in their…

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At least three people were killed and dozens more injured as severe storms and violent tornadoes battered the US Midwest. Flights were grounded and thousands of homes were without electricity as intense winds overturned cars, uprooted large trees and snapped power lines. At least two people were killed in the…

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The Manila International Airport Authority (MIAA) has named a retired police general as the new Airport Police Department (APD) chief vice General (ret.) Alger Tan who resigned from the post last August. MIAA General Manager Jose Angel Honrado said he appointed Jesus Gordon Descanzo to be the new APD chief…

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A neophyte lawmaker has filed a measure seeking to establish a bank for overseas Filipino workers (OFWs) to provide adequate care, benefit and other forms of assistance to OFWs and their dependents. Rep. Juan “Johnny” Revilla (Party-list, OFW Family Club) said under House Bill 2942, the OFW Bank, to be…

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The government has launched a website that allows the public to monitor the status of foreign aid for relief operations in super typhoon Yolanda-hit areas. Department of Budget and Management (DBM) Undersecretary and Chief Information Officer Richard Moya said the initiative, called Foreign Aid Transparency Hub (FAiTH), may be accessed…