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India backs Philippines in sea dispute with China
New Delhi has drawn a strong response from Beijing after reiterating its support for Manila in a territorial dispute India has "firmly reiterated" its support for the Philippines and its "national sovereignty," as Manila remains locked in a territorial dispute with Beijing in the South China Sea. Ten.....»»
‘Trade with China should continue’
The Philippines should continue to pursue stronger trade ties with China despite rising tensions in the West Philippine Sea, according to the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. and the Department of Trade and Industry......»»
Australia, Britain Criticize China for Actions in Hong Kong
SYDNEY - Australia and Britain on Friday criticized China for its actions in Hong Kong and the South China Sea and its support of Russia, after a meeting in which London and Canberra deepened their security ties.The two countries called out 'recent unsafe and destabilizing behavior by China's vessels against Philippine vessels and crew near Second Thomas Shoal in the South China Sea,' in a statement that contain.....»»
TikTok facing ban in America; penalized $384 million in Europe
The US House of Reps has passed a bill to ban TikTok unless it cuts ties to Communist China. Chinese parent ByteDance must sell TikTok to another nationality in six months or be shut down......»»
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.....»»
VACC: Rifles for civilians to boost defense vs China
The decision of the Philippine National Police allowing gun enthusiasts to own and register 7.62 semi-automatic rifles will boost the country’s external defense against China’s aggression, the head of the Volunteers Against Crime and Corruption said yesterday......»»
RLC Residences backs IRONKIDS race
The IRONKIDS, the junior counterpart of the IRONMAN series, gets a significant boost with the backing of RLC Residences with the partnership aiming to promote an active and purposeful lifestyle among young athletes......»»
China urges Philippines not to play with fire on Taiwan question
The Chinese Foreign Ministry on Thursday urged the Philippines not to "play with fire" on the Taiwan question. According to reports, the Philippines' defense chief has ordered the military to boost the number of troops and structures on the Batanes islands which are less than 200 km from China's Taiwan region. In response at a daily press briefing, Wang Wenbin, a spokesperson for the Chinese Foreign Minis.....»»
China urges Philippines not to play with fire on Taiwan question
The Chinese Foreign Ministry on Thursday urged the Philippines not to "play with fire" on the Taiwan question. According to reports, the Philippines' defense chief has ordered the military to boost the number of troops and structures on the Batanes islands which are less than 200 km from China's Taiwan region. In response at a daily press briefing, Wang Wenbin, a spokesperson for the Chinese Foreign Minis.....»»
Philippines, Vietnam to boost SCS cooperation, incident prevention
The Philippines and Vietnam yesterday agreed to boost cooperation between their coast guards and to prevent untoward incidents in the disputed South China Sea in light of Beijing’s continued aggression in one of the world’s most important trade routes......»»
Philippines backs Germany’s statement on China
Germany should not be criticized for speaking out against China as its dangerous actions in the West Philippine Sea are also the international community’s concern, according to Philippine Coast Guard-WPS spokesman Commodore Jay Tarriela......»»
Japan, Malaysia Sign $2.8M Maritime Security Deal to Counter China
tokyo - Japan and Malaysia signed a security assistance deal Saturday including a grant of 400 million yen ($2.8 million) to boost Malaysia's maritime security, as Asian nations seek to counter an increasingly assertive China.Japan will provide equipment such as rescue boats and supplies under the official security assistance deal, signed by the two countries' foreign ministers on the sidelines of a Tokyo summit.....»»
Philippines, US, Japan to boost maritime defense capabilities
The Philippines, the United States and Japan have vowed to strengthen trilateral defense and security efforts to “maintain a free and open maritime order” in the face of reckless and provocative actions of Chinese vessels in Philippine waters and in other parts of the South China Sea......»»
BSP backs bill seeking easier credit for farmers
Monetary authorities are pushing for the immediate passage of a bill amending the old warehouse receipts law to help boost the access of farmers to financing......»»
NSC warns vs planned Christmas convoy at Ayungin Shoal
In a statement released on Tuesday, the NSC appreciated efforts to boost soldier morale at Ayungin Shoal but cautioned against visits due to persistent high tensions between the Philippines and China in the region......»»
House to boost defense budget, backs Palace’s stance on West Philippine Sea
House Speaker Martin Romualdez confirmed on Friday that Congress will increase the defense budget in the 2024 national budget to strengthen efforts in securing Philippine territory in the West Philippine Sea......»»
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......»»
Developing countries urged to diversify production, export markets
Regional trade as well as South–South trade can provide a significant opportunity for developing countries to diversify their production and export basket, according to the United Nations’ trade and development body. “Given the new industrial policy initiatives being adopted in advanced countries, which may shorten their existing supply chains, developing countries will need to look for new outlets to diversify their export markets,” the United Nations Conference on Trade and Development said in its Trade and Development Report 2023. The report said that since 1995, South–South merchandise trade has grown faster than global trade and faster than North–South trade. In 2022, South–South trade accounted for around 54 percent of South’s total trade. It has also grown steadily in food, fuel, ores and metals, and fertilizers, with many developing countries, including Brazil, China, India, Indonesia and Thailand playing major roles, it said. Critical role To further boost South–South trade cooperation, the Global System of Trade Preferences initiative of UNCTAD can play a critical role by providing an opportunity to negotiate tariff reductions among developing countries in products based on mutual preferences, among others. GSTP is an agile partnership framework that allows its members to take a variety of cooperative actions in the area of tariffs, para-tariffs, non-tariff measures, direct trade measures and sectoral arrangements. Citing earlier reports, UNCTAD said GSTP can also support a just green transition in the developing countries by focusing on green products and facilitating green technology transfers. Apart from South–South trade, the report said regional integration programs such as the African Continental Free Trade Area, to the extent they support diversification and the benefits are broadly shared, can also mitigate the negative effects of the current situation, including with respect to climate change and food insecurity. Rollercoaster ride UNCTAD’s Trade and Development Report 2023 said that after experiencing a rollercoaster ride in 2020 — 2022, global trade is forecast to grow about 1 percent in 2023, significantly below world economic output growth, with merchandise trade hovering in negative territory. The post Developing countries urged to diversify production, export markets appeared first on Daily Tribune......»»
Subscription plan promises boosted replies at X, formerly Twitter
X on Friday unveiled a $16-a-month subscription plan allowing users who pay more to get the biggest boost for their replies posted at the platform formerly known as Twitter. The "Premium+" plan is ad-free and designed to provide "the largest reply boost" at X, the company said in a post. The plan builds on features offered in a Blue subscription plan costing $3 monthly and a Premium Plan priced at $8 monthly, according to X. Listed features of Premium+ include a blue tick next to names in profiles along with "a visible ID verification label," according to X. The platform recently started charging new users in New Zealand and the Philippines for basic features such as posting messages in a trial aimed at reducing spam. Musk has suggested charging all X users, but the idea was widely panned. Industry analysts said it would make X even less appealing to advertisers. Musk has made a number of controversial changes to the social media firm's management and product since he acquired Twitter a year ago for $44 billion. In the days after his purchase, Musk quickly fired many Twitter executives and took the publicly traded company private. He also laid off most of the San Francisco-based company's workers, cutting ranks to fewer than 1,500 from 8,000. In the months following his takeover, Musk gutted content moderation, restored accounts of previously banned extremists, and allowed users to purchase account verification, helping them profit from viral -- but often inaccurate -- posts. Musk defended such changes in the name of free speech. Over the past year, the platform's advertising business partially collapsed as marketers soured on X. Musk started charging for features once free at Twitter, such as blue tick marks originally intended as badges of authenticity, in an effort to make money from subscriptions. X is tinkering with video and audio calling at the platform formerly known as Twitter, according to a recent post by Musk. Musk in July rebranded Twitter as X, saying it would become an "everything app" inspired by China's WeChat that would allow users to socialize as well as handle their finances. The post Subscription plan promises boosted replies at X, formerly Twitter appeared first on Daily Tribune......»»
China spending plan buoys Asia stocks
Most Asian markets rose yesterday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes that Israel will scale back its plans for a Gaza ground invasion......»»