Philippines Financial News

BEIJING (Reuters) -China and the Philippines agreed to improve maritime communication and to properly manage conflicts and differences through friendly talks in regards to issues around the South China Sea, according to a statement from the Chinese foreign ministry.

Newgen Software Share Price: Shares of IT software firm Newgen Software Technologies Ltd were locked at over five per cent upper circuit to hit its fresh 52-week high mark of ₹898.60 on the BSE, after announcing its October-December quarter results for fiscal 2023-24 (Q3FY24) earlier today. Newgen Software Technologies' net profit rose 44 per cent in the December quarter at ₹68.3 crore, compared to ₹47.3 crore in the year-ago period. The software company's revenue from operations in the third quarter of current fiscal stood at ₹324 crore, registering a growth of 27 per cent, compared to ₹255 crore in the corresponding period last year.

Mint on 29 December reported that the union government was considering a 50% duty on the export of molasses to augment supplies for meeting India's target for cleaner and more efficient ethanol-blended petrol. The government aims to achieve its E20 (20% ethanol blended petrol) target by 2025-26 from its present 12%. India is the world’s largest molasses exporter and contributes about 25% to global trade.

Circle, a crypto issuer, reported a significant increase in remittances flowing through Asia via its USDC stablecoin. USDC is a cryptocurrency pegged to the value of the U.S. dollar and is backed by liquid cash and cash-equivalent assets. It has settled over $12 trillion in blockchain transactions since its introduction in 2018.

Indian commandos hunting pirates after an attack in the Arabian Sea illustrates New Delhi's «significant» expansion of a muscular maritime force reflecting global ambitions, analysts say. The commandos, deployed this month from an Indian-built warship after an attempted hijacking of a merchant bulk carrier, are part of a major increase of naval forces in seas where rival neighbour China has already long expanded its reach. «It's significant given the geopolitical context» and the aggressive «use of naval assets», said Uday Bhaskar, head of the New Delhi-based Society for Policy Studies think tank. In recent years Beijing has negotiated infrastructure deals with countries around the Indian Ocean as part of its Belt and Road Initiative, including Sri Lanka, the Maldives, Bangladesh and Djibouti, where it opened its first overseas military base in 2017, raising concerns among Indian officials. Now Prime Minister Narendra Modi, expected to be re-elected later this year, is looking to raise the global heft of India, the world's fifth-largest economy, which last year displaced China as the most populous country.

Police in the Philippines have arrested a South Korean man suspected of stealing some $3.5 million from a nursing care fund – and spending the money on crypto.

Germany is facing a dearth of skilled nursing staff as there are not enough qualified nurses available to meet the high level of demand. Experts anticipate that approximately another 500,000 nurses will be needed by the year 2030. Moreover, the scarcity is expected to exacerbate in the medium and long term due to demographic shifts. The Triple Win Programme was established in 2013 by the German Federal Employment Agency's International Placement Services (ZAV) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for the migration of qualified nurses with German companies. Think you check all the immigration boxes? Find out The project facilitates migration of healthcare personnel from India (specifically from Kerala), Indonesia, the Philippines, Bosnia and Herzegovina and Tunisia. The collaborative efforts of the Federal Employment Agency and GIZ involve the placement of skilled nurses from overseas to work in Germany. The program operates under an agreement between the German Federal Employment Agency (BA) and Norka Roots, focusing on the selection and placement of nursing professionals.

Jo Koy was selected as the host for the Golden Globes 2024. Notably, more renowned comedians, such as Chris Rock, purportedly declined the hosting opportunity. Additionally, former Golden Globes hosts Tina Fey and Amy Poehler reportedly conveyed that they are no longer interested in taking on the role. Koy is the second Asian host in Globes history. Sandra Oh emceed the show in 2019. He wants to the inspire those from the Asian community in his first major hosting gig.

Schengen visa was denied, a woman from the Philippines eventually got it after she persuaded the authorities that she would depart Schengen territory before the visa expired because she had tickets to Taylor Swift's concert in Singapore in March. In a post on Reddit, the woman narrated the whole incident and wrote, “I just wanna share that I got denied in my first attempt. The comment was that they don't think I'll leave the Schengen territory before the visa expires." “So when I reapplied, I said that I'd leave because I would attend Taylor Swift's concert in Singapore and attached the mail confirmation," she said.

SaaS firm Unicommerce Esolutions Ltd has filed a draft red herring prospectus (DRHP) for its initial public offering (IPO). Through the offering, its shareholders – AceVector Group, B2 Capital and SoftBank — are together offloading 29.8 million shares. Unicommerce Esolutions is not raising any fresh capital through the IPO.

Be ready on a journey of discovery and insight at this pivotal event, where the future of cryptocurrency and digital finance takes center stage. Unlock the future prospects of the crypto market at the Crypto Vision Conference 2024 in Makati, Philippines!

By Neil Jerome Morales and Mikhail Flores

The Ethereum Foundation has announced that Devcon 7, the Ethereum developer conference, will be hosted in Bangkok, Thailand, from November 12 to 15, 2024. The decision reflects an expansion of the event’s vision, with a focus on embracing the entire Southeast Asia region as the stage for the community gathering.

China on Wednesday announced «routine» military patrols in the South China Sea, following recent clashes between countries in the disputed waterway. The People's Liberation Army's Southern Theater Command said it had «organised naval and air forces to conduct routine patrols» in the sea from January 3 to 4. The statement did not mention where exactly the patrols would take place or give specific details of their aims. Beijing claims almost the entire South China Sea and has ignored an international tribunal ruling that its assertions have no legal basis.

telecom tariffs are amongst the lowest in the world as a percentage of per capita gross national income (GNIpc), and the country's telcos have enough headroom to raise prices by at least 1.5x over the next 4-5 years, industry executives and analysts said. GNIpc is the dollar-value of a country's final income in a year divided by its population.

romantic dramas produced by Wattpad and Voltage Pictures, began in April 2019. After making its Netflix debut in October 2019, the first film left the US platform in October 2022 after a three-year stint.

Earthquake of magnitude 6.2 jolts Indonesia's Irian Jaya An earthquake of magnitude 6.7 killed at least 15 people, and damaged houses and buildings in the coastal Guayas region. A strong earthquake struck Morocco in September 2023. The Al Haouz earthquake, named after the Moroccan province most impacted by the shaking, occurred on September 8 with violent tremors near its epicentre and very strong ones in the city of Marrakesh.

India and the Philippines in the disputed South China Sea, the Chinese military on Thursday said defence cooperation between different countries should not harm the interests of third countries and regional peace. Answering a question from Chinese official media about naval exercises between an Indian naval ship and the Philippines naval vessel besides plans by France to hold naval and air drills with the Philippine Navy, Spokesman of the Chinese Defence Ministry Senior Col Wu Qian said China has taken note of the reports.

Xi Jinping has promoted two naval officers, including a submarine expert, as top naval commanders which involves the Chinese navy's operations in the disputed South China Sea. Xi, who is also the chairman of the powerful Central Military Commission (CMC), the overall high command of the armed forces besides being the President and head of the ruling Communist Party, has presented certificates of order to promote two military officers to the rank of General, official media reported on Tuesday. General is the highest rank for officers in active service in China.

MANILA (Reuters) — Philippine President Ferdinand Marcos Jr. has approved the extension of reduced tariffs on rice and other food items until the end-2024 to keep prices stable amid a threat of dry weather in the coming months, his office said on Tuesday.

Chinese state media accused the Philippines on Monday of repeatedly infringing on China's territory in the South China Sea, spreading false information and colluding with extraterritorial forces to cause trouble. The Philippines has relied on U.S. support to continually provoke China, with such "extremely dangerous" behaviour seriously harming regional peace and stability, China's Communist Party mouthpiece, the People's Daily, wrote in a commentary on Monday.