Philippines Financial News

earthquake that shook the southern Philippines killed at least one villager and injured several others as thousands scrambled out of their homes in panic and jammed roads to higher grounds after a tsunami warning was issued, officials said Sunday. The U.S. Geological Survey reported that the quake Saturday night had a magnitude of 7.6 and struck at a depth of 32 kilometers (20 miles).

«I condemn in the strongest possible terms the senseless and most heinous acts perpetrated by foreign terrorists,» said President Ferdinand Marcos Jr. «Extremists who wield violence against the innocent will always be regarded as enemies to our society.» The blast in Marawi, a city besieged by pro-Islamic State militants for five months in 2017, followed the killing of 11 combatants in a military operation on Friday in Maguindanao del Sur some 200 km (125 miles) away. Urging calm, Marcos posted on the social media platform X that he had instructed the national police and armed forces «to ensure the protection and safety of civilians and the security of affected and vulnerable communities». «Rest assured we will bring the perpetrators of this ruthless act to justice.» Army Major General Gabriel Viray III called the attack at the Mindanao State University «a terror act», speaking to reporters as explosive disposal experts were deployed. «Right now we are on heightened alert and our troops remain vigilant as we are determining the motive and identifying the perpetrators to really ascertain who was behind it,» Viray said.

Paris on Saturday before being arrested, officials said. The attack took place close to the Eiffel Tower during a busy weekend night and came with the country on its highest alert for attacks as tensions rise against the background of the war between Israel and Hamas. «We will not give in to terrorism,» Prime Minister Elisabeth Borne wrote on X, formerly Twitter, after the attack. President Emmanuel Macron said he was sending his condolences to the family of a German killed in the «terrorist attack». French anti-terror prosecutors said that they would now take on the investigation. The attacker was known to authorities as a radical Islamist and was being treated for mental illness, Interior Minister Gerald Darmanin said at the scene by the River Seine,adding that the man had shouted «Allahu Akbar» («God is greatest») before being arrested. He fatally stabbed the German tourist, born in 1999, with a knife and then used a hammer to attack others as he sought to escape on the other side of the River Seine. The area by Bir Hakeim bridge, usually thronging with tourists and locals, was cordoned off by police and bright with the flashing lights of security forces and emergency services. 'Violently threatened them' The Paris prosecutor's office said the attacker, born in 1997, is French and has been arrested in an investigation into murder and attempted murder. Darmanin said the man had already been sentenced in 2016 to four years in prison for planning another attack which he failed to carry out. «A man attacked a couple who were foreign tourists.

coast guard inaugurated a new monitoring base Friday on a remote island occupied by Filipino forces in the disputed South China Sea as Manila ramps up efforts to counter China's increasingly aggressive actions in the strategic waterway. Confrontations between Chinese and Philippine ships have intensified this year in the contested waters, resulting in minor but alarming collisions near the disputed Second Thomas Shoal occupied by a Filipino marine contingent in October.

Binance, an official said Thursday, as part of a crackdown on online trading platforms operating in the country without licences. The Securities and Exchange Commission (SEC) announced Tuesday that Binance was not registered in the Philippines and therefore not authorised to sell or offer securities in the country.

Rice prices are on track for a new 15-year high, threatening to spark more angst in Asia and Africa where the grain is the staple for billions. Thai white rice 5% broken — an Asian benchmark — has jumped by $57 over the past two weeks to $640 a ton following a period of relative calm, putting prices just short of the highest level since October 2008. That milestone was reached in early August in the wake of sweeping export curbs from top shipper India. Increased demand for Thai rice from unexpected buyers such as Brazil and the Philippines has contributed to the rise, said Chookiat Ophaswongse, an honorary president of the Thai Rice Exporters Association.

China's defence ministry on Thursday rejected a Philippine claim that Chinese fighter jets flew past joint patrols being conducted by the Philippines and Australia. What the Philippines said is «groundless» and «not true», said a ministry spokesperson at a monthly press conference. Manila said on Sunday that two Chinese fighter jets were seen «orbiting» a Philippine aircraft participating in patrols with Australia in the South China Sea but did not cause any untoward incident. What the Philippines said is sheer «malicious» hype, the spokesperson said.

Binance is reportedly facing challenges in Thailand ahead of its plans to launch a new crypto platform with billionaire Sarath Ratanavadi’s Gulf Energy.

Elephant Mali, who was the star attraction at Manila Zoo for four decades, died on Tuesday. Tributes have poured in for the elephant christened by activists as one of the world's «saddest». Announcing Mali's death in a Facebook video, Manila Mayor Honey Lacuna said visits to the zoo to see Mali were among her happiest childhood memories. She was seen last Friday constantly rubbing her trunk against a wall. Manila Zoo's Chief Veterinarian Dr Heinrich Patrick Peaa-Domingo said that it indicated that the Asian elephant was in pain.

The Securities and Exchange Commission in the Philippines has warned users that cryptocurrency exchange, Binance is operating without the required license.

BSE) achieved a historic milestone, surpassing a record of $4 trillion for the first time in today's trade. Indian stocks began today's session on a positive note following dovish statements from U.S. Fed Official Christopher Waller.

Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license, according to the local securities regulator.

Japan and Vietnam have agreed to boost their security and economic ties in the face of China’s growing influence in the region

Investing.com-- Most Asian currencies advanced on Tuesday amid growing conviction that the Federal Reserve was done raising interest rates, which in turn put the dollar at a three-month low.

Investing.com-- Asian stocks rose slightly on Tuesday as traders kept to the sidelines before a string of key economic readings from the U.S. and China due later this week, although most regional bourses were sitting on strong gains for November. 

S&P Global Ratings on Monday raised India’s growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth. “We have revised up our projection for India’s GDP growth for fiscal 2024 (ending in March 2024) to 6.4 per cent, from 6 per cent, as robust domestic momentum seems to have offset headwinds from high food inflation and weak exports.

Read here: Exit polls, GDP data, F&O expiry, auto sales to guide market direction this week The agency also noted that GDP exceeded the 2019 level by 15.5 percent in India in the first half of the current fiscal. Also, fixed investment has recovered considerably more than private consumer spending, it added. S&P also believes that it will take some time for India's interest rate cycle to turn as the headline inflation still remains above the RBI's target of 4 percent.

SIS) said in a statement on Sunday that Egypt has received lists of 13 Israelis and 39 Palestinians scheduled for release on Sunday. This will be the third batch in the four-day truce deal brokered by Egypt and Qatar. "The truce is proceeding without roadblocks," the SIS was quoted by Reuters as saying in a statement.

Aden, Yemen, on Sunday, authorities said. While no group immediately claimed responsibility, it comes as at least two other maritime attacks in recent days have been linked to the Israel-Hamas war. The attackers seized the Central Park, managed by Zodiac Maritime, in the Gulf of Aden, the company and private intelligence firm Ambrey said.

Think-tank GTRI on Sunday suggested that the government study the bilateral free trade agreement with Singapore and as part of the Asean bloc together while reviewing its trade pact with the 10-nation grouping.Singapore is a member of 10-nation Asean bloc with which India has a free trade agreement in goods since 2010. Separately, India also implemented a comprehensive free trade agreement (FTA) with Singapore in 2005.The Global Trade Research Initiative (GTRI) also suggested a similar exercise with Thailand, another member of Association of Southeast Asian Nations (Asean). India signed a limited free trade pact with Thailand in 2006.

According to the Palestinian health ministry, six Palestinians, including one minor, were shot dead by Israeli forces in the occupied West Bank late Saturday and early Sunday.