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US, UK accuse China of cyberespionage that hit millions of people
The aim of the global hacking operation was to 'repress critics of the Chinese regime, compromise government institutions, and steal trade secrets,' Deputy US Attorney General Lisa Monaco says.....»»
Resumption of FTA talks seen to spur higher EU investments
The Philippine Economic Zone Authority expects investments from European companies to increase with the resumption of the Philippines – European Union free trade agreement negotiations......»»
Philippine food firms’ sales hit $133 million in Dubai fair
Philippine food companies generated $133 million worth of export sales from a food trade show held in Dubai last month, according to the Center for International Trade Expositions and Missions......»»
The US is cultivating an antagonist to China in Beijing s own backyard
Ferdinand Marcos Jr, the president of the Philippines, is a stark contrast to his predecessor - and besides, Washington has dirt on him The Philippines has been a treaty ally of the United States since 1951, almost as long as it's been an independent country. Before that, it was a colony of the US, which had won it as.....»»
US Bolstering Philippines Amid Increasing Assertiveness by China
washington - The U.S. and Philippines will for the first time venture outside Manila's territorial waters when they begin joint annual combat drills in April, a Philippines government spokesman said Thursday.Colonel Michael Logico said elements of the Balikatan 2024 drills would be conducted about 22 kilometers (more than 12 nautical miles) off the west coast of Palawan, an island in the archipelago nation that.....»»
Biden to Host Japan PM Kishida, Philippines President Marcos
WASHINGTON - President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company.White House press secretary Karine Jean-Pierre in a sta.....»»
Biden to host trilateral summit with Japan, Philippines on April 11
Washington, DC [US], March 19 (ANI): US President Joe Biden will host a three-way summit with Japanese Prime Minister Fumio Kishida and Philippine President Ferdinand Marcos in Washington on April 11, as announced by the White House, as reported by Kyodo News. This historic summit, the first of its kind involving the United States, Japan, and the Philippines, aims to bolster defence cooperation in response to China's asse.....»»
US warns China against armed attack on Philippines
Washington, DC [US], March 19 (ANI): US Secretary of State Antony Blinken warned China on Tuesday, stating that any "armed" attack on Philippine vessels in the South China Sea would activate a mutual self-defence agreement between Washington and Manila, underscoring the escalating tensions in the region that could potentially embroil the United States in conflict with Beijing, as reported by The New York Times. Despite th.....»»
China, Not Russia, Still Tops List of Threats to US
WASHINGTON - Russia's war in Ukraine - portrayed by top U.S. officials as posing a danger to the United States itself - still trails China when it comes to long-term threats to America's security, according to a top Pentagon official.The warning from Ely Ratner, the Defense Department's assistant secretary for Indo-Pacific security affairs, comes in testimony prepared for a hearing Wednesday by the House Armed S.....»»
US Officials Warn of New Axis of Evil With China at the Fore
WASHINGTON - U.S. military and defense officials are increasingly concerned that as China and Russia forge ever stronger ties, they might attempt to challenge Western unity and eventually alter the balance of power on the world stage.The commander of U.S. forces in the Indo-Pacific told lawmakers on the House Armed Services Committee that the evolving relationship between Beijing and Moscow is a "big portion" of.....»»
China’s Wang Yi tells Blinken US should lift sanctions on Chinese firms
The Biden administration has imposed bans on the sale of certain technologies to Chinese companies, citing national security risks.....»»
Malaysia, China seed companies eye Philippines investments
Several seed companies of different crops particularly from Malaysia and China have expressed interest in investing in the Philippines, according to the Department of Agriculture......»»
Yuan outpacing euro - Reuters
Low interest rates have sparked a global rush to borrow in China, the outlet has said Global companies are reaping record profits through yuan-denominated bonds and are borrowing heavily from Chinese lenders at low interest rates, at a time when the cost of using Western banks is skyrocketing, Reuters reported on Frid.....»»
Yuan outpacing euro as major trade-funding currency - Reuters
Low interest rates have sparked a global rush to borrow in China, the outlet has said Global companies are reaping record profits through yuan-denominated bonds and are borrowing heavily from Chinese lenders at low interest rates, at a time when the cost of using Western banks is skyrocketing, Reuters reported on Frid.....»»
PH records $10.36M sales from CAEXPO 2023
The Philippines has recorded sales of $10.36 million from the 20th China-ASEAN Expo (CAEXPO) held in China. The sales were generated by 15 participating small and medium-sized enterprises (SMEs), with fresh durian proving to be the most lucrative product. The Philippines' participation in CAEXPO is part of its longstanding relationship with China, which is expected to reach import activities valued at over $5 trillion in the next five years. The country joined 42 other nations at the expo, with 644 exhibitors from ASEAN and 738 from non-ASEAN countries. The successful sales performance of durian exhibitors highlights the growing global demand for the local variety. The Philippine exhibitors that contributed to the sales include both food and non-food companies. The expo also provided networking opportunities and learning experiences for participants, with various engagements and investment forums conducted. The next CAEXPO is scheduled for September 2024, and the Philippines will be the Country of Honor in 2025......»»
Digital, food, green energy
I was in Singapore for the Singapore Fintech Festival, Nov. 14-17, 2023. Just like my recent visit to the headquarters of a couple of Chinese tech companies in Shenzhen, China, one hour by bus from Hong Kong, I was disappointed after spending two days at the Singapore Fintech......»»
Steps gaining exporter status under RCEP outlined
Exporters wishing to avail themselves of preferential tariffs under the Regional Comprehensive Economic Partnership can apply with the Bureau of Customs to become an approved exporter, according to a customs official. Gina German, head of the Preferential Rate Unit of the BoC Port of Manila, is encouraging Filipino exporters to start leveraging the RCEP’s benefits, foremost of which is being allowed to source materials and products from the 14 other member parties of the mega free trade agreement at lower duty rates. Study and comply German also urged companies to study and comply with the RCEP’s rules of origin (ROO), a requirement to get preferential tariff treatment under the world’s biggest trade deal. Essentially, the ROO can be regarded as a passport for products, a way to determine the country of origin of a product and establish its eligibility for preferential tariff treatment. It can help businesses reduce costs and boost their competitiveness within the regional market. Under RCEP, originating goods are those falling under three categories: wholly obtained in the RCEP party or member state of the agreement; those produced in a party exclusively from originating materials from one or more of the parties; and those produced in a party using non-originating materials, provided the good satisfies the applicable requirements set out in Annex 3A (Product-Specific Rules). Documentary requirements German said applicants seeking “approved exporter” status under RCEP should submit the following documentary requirements: • Duly accomplished application form • BoC’s Certificate of Registration • Product Evaluation Report or PER, if applicable Meanwhile, traders applying for approved exporter status, should submit a producer’s declaration indicating the originating status of the good for which the trader will be completing a declaration of origin and stating the producer’s readiness to cooperate in verification. “If you are a trader, you need to know who produces the good or you still have a declaration that it is originating in the Philippines so that you will be ready during the retro verification or verification of the importing country,” said German during her talk last month at a Department of Trade and Industry webinar. In addition applicants have to submit a list of the authorized signatories of the DO and their respective specimen signatures. The application form should be submitted in both hard copy and electronic Portable Document Format to the deputy commissioner of the Assessment and Operations Coordinating Group through the Customer Care Center or CCC. The Export Coordination Division or ECD will then evaluate the application based on the following criteria: Exporter is a legitimate exporter who must have been transacting with the BOC for at least one year prior to the date of application Exporter must have been exporting products to at least one RCEP party for at least one year • Exporter must have good compliance measured by risk management of the BOC • Exporter must have a sound bookkeeping and recordkeeping system • Exporter must have responsible officers or persons authorized to sign the DO, who must have sufficient knowledge, competence in ROO application • Exporter must be willing to be subjected to regular monitoring and inspection to determine correctness of its declaration with respect to the goods exported. Written authorization After evaluation the ECD will grant the status of approved exporter to the successful applicants by issuing a written authorization with its corresponding authorization code within 14 working days. From there, the BOC will input the details of the approved exporter in its Approved Exporter Database for circulation among the RCEP parties. RCEP came into effect officially for the Philippines on June 2, 2023 after the Senate finally ratified the agreement in February this year. The Philippines was the last country to ratify RCEP, a free trade pact among the 10 members of the Association of Southeast Asian Nations — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam — and the five ASEAN FTA partners Australia, China, Japan, South Korea, and New Zealand. The post Steps gaining exporter status under RCEP outlined appeared first on Daily Tribune......»»
‘Time to explore ODAs from other countries’ Poe says after Chinese ODA withdrawal
Senator Grace Poe on Thursday expressed her belief that it is high time for the Philippines to look for alternative sources of funding from other countries for the proposed Mindanao Railway Project. According to Poe, who chairs the Senate Committee on Public Services, the country may pursue official development assistance from other countries following the Department of Transportation's move to drop China as a funding source for the P83-billion railway project in the southern Philippines. “It’s time to explore ODAs from other countries and seek available funding options from multilateral institutions and international assistance agencies that can deliver the goods,” she said in a statement. Poe noted that the withdrawal of the ODA from China for a railway project “should not derail the implementation of our infrastructure programs,” “In the past years, Chinese banks have also kept us in suspended animation with delays in our loan applications putting in limbo a number of government projects,” she said. “While appearing attractive, the loans are not exactly that benevolent as they come with hefty interest rates and other strings that could be detrimental to the country in the long term,” she added. She also suggested to the government to tap the private sector which she said “holds the potential of accelerating infrastructure development and bringing innovative and efficient services.” She issued the statement after Transportation Secretary Jaime Bautista confirmed that the Philippines is no longer loan financing from China for the first phase of the Mindanao Railway Project. The first phase of the railway project aims to reduce travel time between Tagum in Davao del Norte and Digos in Davao del Sur by one hour from the current 3.5 hours. Quoting Bautista, Senate President Juan Miguel “Migz” Zubiri said in August that the Philippine government would no longer engage Chinese state-owned companies for major infrastructure projects in the country. “I talked to Secretary Jimmy Bautista, he was at the Senate recently. We talked one-on-one. I told him: ‘Secretary, you are seeing what they are doing to your Coast Guard, right?’” he said “I told him not to give Chinese state-owned companies projects here in the Philippines such as trains. We have the North to South Railways…. Let us not give it to them. Let us give it to South Morea or Japan instead,” he added. He continued: “I was glad because Secretary Bautista said they would no longer Chinese state-owned companies for their trains, airports, and big-ticket items.” The construction of the Tagum-Davao-Digos segment of the Mindanao Railway Project was supposed to start in January 2019. The post ‘Time to explore ODAs from other countries’ Poe says after Chinese ODA withdrawal appeared first on Daily Tribune......»»
Christiane Benner, first woman to lead Germany’s biggest union
Christiane Benner will become the first woman to lead Germany's biggest union when she takes the helm at IG Metall next week. But the milestone comes as the once mighty industrial sector battles a series of crises. Soaring energy costs due to Russia's war in Ukraine, high inflation, and weaker demand from key trade partner China have culminated in a manufacturing slump that has raised fears about Germany's future as an industrial powerhouse and export champion. Benner's appointment is set to be confirmed at an IG Metall congress on Monday. As she prepares to go to bat for IG Metall's more than two million members in sectors including the automotive, machine tool, and electrical industries, Benner is clear about her priorities. "The most important thing is keeping industry in Germany and Europe," she told AFP in an interview in her Frankfurt office. Asked why it took so long for IG Metall, founded in 1949, to install a woman at the top, Benner chuckled. "Ask the men!" smiled the bespectacled 55-year-old. Benner has been a member of IG Metall since her early 20s after starting work as a foreign-language secretary at a mechanical engineering firm. After taking time out to study sociology, she rose through the ranks at IG Metall and became the union's vice president in 2015. Eighty percent of IG Metall's members are men. Deindustrialization fears A work and study stint in the United States in the 1990s opened her eyes to the "weakness" of American unions, Benner recalled. The contrast with Germany was stark, where the model of co-determination gives labor representatives a significant say in workplace decisions. As Germany's most powerful trade union and the largest in Europe, Benner is well aware of IG Metall's influence. "We're strong," she said. IG Metall flexed its muscles last year and won an 8.5-percent wage increase over two years to help compensate for inflation, a benchmark deal covering around four million workers across several sectors. Even more daunting challenges lie ahead, as Germany's long-vaunted economic model is called into question and an end-of-year recession looms. Companies in Germany's energy-intensive industries are already weighing whether to shift production to cheaper shores, a problem compounded by the lure of US green subsidies through Washington's Inflation Reduction Act, Benner said. "We're seeing a creeping dismantling of industry and jobs," she warned. To prevent a dreaded "deindustrialization" of Europe's biggest economy, Benner is in favor of discounted electricity prices for industrial firms. The proposed subsidy has been a topic of fierce debate within Germany's coalition government in recent months. But Chancellor Olaf Scholz, who like Benner is a member of the center-left Social Democrats, has yet to back the idea, fearing it could slow the transition towards renewable energies. Retaining talent Adding to Germany's woes are long-running structural problems such as a shortage of skilled workers in an aging country, and foot-dragging on digitization. More than 2.6 million young adults in Germany under the age of 35 have no vocational qualification, despite a growing need for highly qualified employees as new technologies transform businesses. IG Metall was working hard to increase the number of apprenticeships and make on-the-job training more attractive, Benner said. Hoping to make heavy industry a more appealing career choice, Benner also advocates a better work-life balance and supports a four-day workweek for those who want it. She also wants to narrow the gender pay gap in a country where men still earn seven percent more than women doing the same job. But first up on her to-do list will be next month's wage negotiations with steel bosses. Benner will be pushing for a similar 8.5-percent salary bump for the sector and a reduction in working hours from 35 to 32 hours a week, without loss of pay. The post Christiane Benner, first woman to lead Germany’s biggest union appeared first on Daily Tribune......»»
China opposes sanctions over fentanyl crisis
Beijing said on Wednesday it firmly opposed sanctions placed by the United States on a China-based network for producing and distributing chemicals believed to fuel the fentanyl crisis. The US administration of President Joe Biden had on Tuesday announced sanctions against 25 individuals and entities based in China, alongside three other parties in Canada. The US Justice Department also announced eight indictments charging China-based chemical manufacturing firms and staff, with Attorney General Merrick Garland saying that the global supply chain of fentanyl “often starts with chemical companies in China.” “We firmly oppose the United States’ sanction and prosecution against Chinese entities and individuals, and the severe infringement of the lawful rights and interests of the relevant enterprises and persons,” Beijing’s foreign ministry told Agence France-Presse. “The fentanyl crisis in the United States is rooted in the country itself,” it said, adding that Beijing has “lodged solemn representations to the United States.” Biden’s administration has made the fight against fentanyl a priority, with the synthetic opioid blamed for tens of thousands of deaths in recent years. “We know that this global fentanyl supply chain, which ends with the deaths of Americans, often starts with chemical companies in China,” Attorney General Merrick Garland told a press briefing. He said it was “critical” that Beijing stops the “unchecked flow” of precursor chemicals coming from the country, adding that US officials will also raise the manufacturing and trafficking of fentanyl with their Mexican counterparts. Tuesday’s actions are aimed at exposing and disrupting a network “responsible for manufacturing and distributing illicit drugs,” said Deputy Treasury Secretary Wally Adeyemo said. The post China opposes sanctions over fentanyl crisis appeared first on Daily Tribune......»»