Biden pleading for US stimulus in meeting with business execs
Wilmington, Delaware—President-elect Joe Biden on Monday called for a new stimulus package to help the United States recover from the damage caused by coronavirus pandemic......»»
US trade, investment mission to visit Philippines
A high-level US trade and investment mission formed by President Joe Biden will arrive in the country in March next year to explore business opportunities in the Philippines, according to President Marcos......»»
New U.S. speaker rallies support for Israel
The United States House of Representatives is back in business with the newly-elected Republican speaker, Mike Johnson, introducing a resolution supporting Israel in its war with Palestinian terrorist group Hamas. The resolution passed with support from all but nine Democrats and just one Republican dissenter. The first successful act of Johnson signals a stable leadership despite being the least experienced speaker in the post Civil War era, having never chaired a committee or held a senior leadership role. “We all know that the world is in turmoil — but a strong America is good for the entire world,” Johnson told lawmakers after his election on Wednesday that ended the paralysis of Congress. Biden congratulated the new speaker and vowed to work with him, adding that the US now needed “to move swiftly to address our national security needs and to avoid a shutdown.” Ahead of the filing of the Israel resolution, the Louisiana congressman said in his acceptance speech that the bill is overdue as America’s “greatest ally in the Middle East is under attack.” The little-known ally of Donald Trump who spearheaded legal efforts to overturn the 2020 election won the unanimous support of his party to replace Kevin McCarthy who was ousted in a right-wing coup on 3 October. The post New U.S. speaker rallies support for Israel appeared first on Daily Tribune......»»
PEZA chief understands investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During discussions at the Rotary Club of Manila membership meeting last 5 October 2023, a member of the Club who is an investor in various sectors locally said the current policies of the government in terms of tax perks were unpredictable because of the “tug of war” between the investment promotion agencies, that is, PEZA and the Board of Investments, which are both under the watch of the Department of Trade and Industry, and the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. Last among five countries He said that explains why the Philippines is the last among five countries considered by investors as investment destinations in Southeast Asia, with investments now being dominated by Vietnam, followed by Singapore, Malaysia and Cambodia. The Rotarian said in terms of exports, the Philippines is also a laggard compared to the performance of the country’s Southeast Asian counterparts. Total Philippine exports dropped to $6.1 billion in July 2023, from $6.7 billion in the previous month. In comparison, Vietnam in August 2023 enjoyed $32.8 billion in exports. Most attractive destination Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure and pro-foreign investment policy changes. According to Standard Chartered Bank, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which also doesn’t have clear policies for renewable energy, data centers, information technology and artificial intelligence. “We have yet to see concrete policy formulation and a roadmap to that effect, compared to the recent pronouncement of US President Joe Biden that Vietnam is positioned as the future chipmaker. The United States is currently legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. Regarding this, PEZA’s Panga admitted that there were indeed ‘differences’ in terms of policies among government agencies, particularly the DTI and the FIRB. Still, Panga sought the support of the oldest and first Rotary Club in Asia where it concerns PEZA’s job to further attract foreign direct investments into the country. Panga emphasized that a whole government, industry, and society approach is needed to improve and lessen the cost of doing business. Eco-zoning push “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” he added. Last August 2023, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the CREATE Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands investors’ dilemma appeared first on Daily Tribune......»»
PEZA chief understands Rotarian investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act. During discussions at the Rotary Club of Manila Membership Meeting on Thursday, a Rotarian who has invested in the country said the current policies of the government in terms of tax perks remain unpredictable because of the ‘tug of war’ between the investment promotion agencies, namely PEZA and the Board of Investments, which are all under the watch of the Department of Trade and Industry, with the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. He said that the reason why the Philippines is the last among the top five countries considered as top investment countries in Southeast Asia, which is now being dominated by Vietnam, followed by Singapore, Malaysia, and Cambodia. He said in terms of exports, the Philippines is also a laggard compared to the performance of Southeast Asian counterparts. The Philippines' total exports plummeted to $6.1 billion in July 2023, compared with $6.7 billion in the previous month. Its tough competitor, Vietnam, this August 2023 is enjoying $32.8 billion in exports. Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure, and policy changes. According to Standard Chartered, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which doesn’t have clear policies for renewable energy, data centers, information technology, and artificial intelligence. “We have yet to see concrete policy formulation and roadmap to that effect. Compared to the recent pronouncement of US President Joe Biden Vietnam will be positioned as the future chipmaker, and the US is now legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. With this, PEZA’s Panga admitted that there are indeed ‘differences’ with government agencies, particularly the DTI and the FIRB, but also sought the support of the club in PEZA’s job to further attract foreign direct investments into the country. Panga further emphasized that a whole government, industry, and society approach is needed to improve the ease and lessen the cost of doing business. "Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development," he added. Last August, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands Rotarian investors’ dilemma appeared first on Daily Tribune......»»
Republican hardliners oust US House speaker in historic vote
Kevin McCarthy was axed Tuesday as speaker of the US House of Representatives in a brutal, historic rebellion by far-right Republicans furious at his cooperation with Democrats. The maneuver laid bare the chaotic levels of infighting among Republicans heading to the 2024 presidential election almost certainly led by Donald Trump, who is making history of his own as the first former or serving president to be the target of multiple criminal indictments. The first ouster of a speaker in the House's 234-year history was supported by only a handful of right-wing Republican hardliners. However, the House was almost evenly divided and with Democrats joining eight rebel Republicans rather than riding to McCarthy's rescue, he had no way to survive. The 58-year-old former entrepreneur -- who did not comment as he left the chamber -- had sparked fury among conservatives when he passed a bipartisan stopgap funding measure at the weekend backed by the White House to avert a government shutdown. Florida conservative Matt Gaetz, who forced the removal vote, gambled that he could oust McCarthy with just a few Republicans, helped by Democrats loath to bail out a speaker who only recently opened a highly politicized impeachment inquiry into President Joe Biden. Republicans were warned by their leadership about plunging the party "into chaos" but Gaetz, who has repeatedly complained about McCarthy failing to honor agreements made with conservatives, retorted: "Chaos is Speaker McCarthy." "The reason Kevin McCarthy went down today is because nobody trusts Kevin McCarthy," he added after the vote. "Kevin McCarthy has made multiple contradictory promises, and when they all came due, he lost." Democrats, too, had no love for McCarthy, pointing to his decision to renege on a deal with Biden on spending limits agreed earlier this year in high-stakes talks over the federal budget. Biden issued a statement through his press secretary after McCarthy's overthrow urging the House to quickly choose a replacement, arguing that the urgent challenges facing the country "will not wait." 'Pigsty of incompetence' The New Democrat Coalition, a bloc of pro-business Democratic lawmakers, described McCarthy as "simply not trustworthy." And Congressional Progressive Caucus chairwoman Pramila Jayapal, a leading leftist, vowed to let Republicans "wallow in their pigsty of incompetence" rather than rescue McCarthy. The tussle came just days after the House and Senate passed a measure to avert a costly government shutdown -- both with big bipartisan majorities -- by extending federal funding through mid-November. Conservatives were furious, seeing their chances dashed by forcing massive budget cuts. They accused McCarthy of a flip-flop, saying he'd promised an end to hastily prepared stopgap legislation, hammered out with the support of the opposition, and a return to budgeting through the committee process. The writing was on the wall after Democratic House Minority Leader Hakeem Jeffries encouraged his members to oust McCarthy. Every Democrat then joined 11 rebel Republicans to reject a preliminary motion that would have blocked the final ouster vote. With McCarthy out, a temporary speaker put the House into recess until a permanent replacement is elected. Republicans will gather at 6:30 pm (2230 GMT) to discuss putting up a candidate for a vote to be the new speaker -- and it is not out of the question that McCarthy could be nominated for a return to the role he just lost. It took 15 rounds of balloting for the Californian to win the gavel in January, but the fight demonstrated that he has the support of most of the party, and he could try to persuade the rank-and-file to rally behind him once more. Alternatively, he may bow out. This could set up a showdown among his lieutenants -- most likely House Majority Leader Steve Scalise and House Majority Whip Tom Emmer. But Republican hopefuls may shy from taking on what looks like a poisoned chalice in which the hard-right faction will continue to exercise control from the sidelines. Trump -- who is facing 91 felony indictments and was in court Tuesday in New York as a defendant in a civil fraud trial -- berated Republicans on his social media platform for "always fighting among themselves." Tellingly, though, he offered no support for McCarthy. The post Republican hardliners oust US House speaker in historic vote appeared first on Daily Tribune......»»
Trump business empire under threat as New York fraud trial opens
A combative Donald Trump appeared in a New York court on Monday to face civil fraud charges, denouncing the case as a "sham" intended to torpedo his campaign to retake the White House. The fraud trial, one of several legal battles against the 77-year-old Trump, could potentially see the former president barred from doing business in New York state. "This has to do with election interference, plain and simple," Trump said as he arrived for the opening day of what could be a three-month trial. "What we have here is an attempt to hurt me in an election." New York Judge Arthur Engoron has already ruled that Trump and his sons Eric and Don Jr committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years. New York Attorney General Letitia James is now seeking $250 million in penalties and the removal of Trump and his sons from management of the family empire. "Justice will prevail," James told reporters before delivering opening arguments. "No matter how powerful you are, no matter how much money you think you may have, no one is above the law," she said. Trump, arriving in court, denounced the case as a "scam" and a "witchhunt." "It's a sham," he said. "My financial statements are phenomenal." Trump is scheduled to appear before a federal judge in Washington on March 4, 2024 on charges of trying to overthrow the results of the 2020 presidential election won by Democrat Joe Biden. Trump will then be back in New York state court, this time on charges of paying hush money to a porn star, and later in a Florida federal court, where he is accused of mishandling classified documents after leaving office. Finally, he will also have to answer to state charges in Georgia, where prosecutors say Trump illegally tried to get the southern state's 2020 election results changed in his favor. 'Major blow' In the New York case, Engoron ruled that Trump, his two eldest sons and other Trump Organization executives lied to tax collectors, lenders and insurers for years in a scheme that exaggerated the value of their properties by $812 million to $2.2 billion between 2014 and 2021. The judge revoked the business licenses that allowed the Trump Organization to operate some of its New York properties. Actually enforcing such penalties would be "a major blow to Donald Trump's ability to do business in the state of New York going forward," Will Thomas, a professor of business law at the University of Michigan, told AFP. Trump -- who made his reputation and fortune as a real estate mogul in the 1980s -- could eventually lose control over many of his company's flagship properties, such as his 5th Avenue Trump Tower in Manhattan. According to James, a Democrat, Trump's own apartment in that building is among the spaces that were fraudulently overvalued -- it was listed as three times bigger than its true size. Another Manhattan building, at 40 Wall Street, was overvalued between $200-$300 million in financial disclosures, James alleges. Trump's luxury Mar-a-Lago resort in Florida -- the site of the classified documents drama -- and several other Trump Organization golf clubs also appear in James's complaint. Trump has repeatedly dismissed the New York civil allegations, calling James, who is Black, "racist," and labeling Engoron "deranged." There are likely to be dozens of witnesses called to testify at the trial, including Trump himself and three of his children, Eric, Don Jr and his oldest daughter Ivanka. Trump's former lawyer Michael Cohen -- now an outspoken critic of the former president -- and officials from Trump-linked financial institutions are also expected to appear. The post Trump business empire under threat as New York fraud trial opens appeared first on Daily Tribune......»»
‘Extremist’ Trump threatens U.S. democracy, Biden warns
With House Republicans launching an impeachment inquiry against him, United States President Joe Biden went into offensive on Thursday with a chilling warning to Americans planning to elect Donald Trump in next year’s presidential election. In a speech in the battleground state of Arizona Thursday, the 80-year-old Biden accused the Republican primary frontrunner and his followers of attacking the free press and the rule of law, and planning to gut US institutions if he wins a second term. “Trump says the constitution gave him ‘the right to do what he wants’,” Biden said, referring to statements by Trump about how he saw his powers in office. “I’ve never even heard a president say that in jest — not guided by the constitution or by common service and decency towards our fellow Americans, but by vengeance and vindictiveness.” The reelectionist president rallied Americans who are silent to stand up for democracy before it was too late. Biden also turned the table on Trump for the former president’s remark that US soldiers captured or killed in action as “suckers and losers.” “Was he a sucker for volunteering to serve his country?” Biden asked, referring to his son Beau, who served in Iraq and died of brain cancer in 2015 aged 46, and the late Arizona senator and Vietnam war hero John McCain. Biden and Trump were in early campaign mode this week with both men visiting the swing state of Michigan to speak to auto workers. Conservatives have accused Biden of trading on the power of his office when he was vice president under Barack Obama to help his younger son Hunter secure lucrative foreign business deals, and of benefiting personally from alleged corruption. Democrats have dismissed the hearings as a stunt but they will add to the pressure on Biden as he battles poor approval ratings and polls showing him neck-and-neck with Trump. WITH AFP The post ‘Extremist’ Trump threatens U.S. democracy, Biden warns appeared first on Daily Tribune......»»
World Bank chief vows to tackle ‘dysfunctionality’ at development lender
World Bank President Ajay Banga said Tuesday that he is working to reform "dysfunctionality" in the boardroom of the development lender, and pledged to refocus its mission to better address the challenges posed by climate change. The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its current twin mandate of poverty alleviation and boosting shared prosperity to include climate change. "I think the twin goals have to change to being elimination of poverty, but on a livable planet, because of the intertwined nature of our crises," he said. He added that he was working to redefine the World Bank's business around what he called five key knowledge "verticals": people, prosperity, planet, infrastructure, and digital. Fixing the plumbing Banga, an Indian-born naturalized US citizen, was nominated to lead the World Bank earlier this year by President Joe Biden and began his new role in June. The bank has historically been led by an American, while the International Monetary Fund (IMF) has been run by a European -- a controversial arrangement that has existed since the two institutions were founded in the aftermath of the Second World War. Banga has already made a number of changes to the bank's management since taking over, setting up a new 15-person private sector advisory board, and pledging deeper cooperation with regional development banks to tackle shared challenges. On Tuesday, Banga vowed to "fix the plumbing" at the bank, which he said suffered from "dysfunctionality" in the boardroom. The World Bank's board is made up of 25 executive directors appointed by its 189 member countries, who must balance the interests of the development lender with those of the states they represent. "I want people to say when I’m gone that I left the bank working much better than when I got it, because then my successor will not have to deal with what I’m dealing with," he said. Climate change Proposals to reform the World Bank's balance sheet from countries including the US and Saudi Arabia could add as much as $125 billion in extra lending capacity if they come to pass, Banga told the audience in New York. This would be a significant increase for the development lender, which mobilized just over $100 billion in financing last year. Banga has previously called on the World Bank to collaborate more closely with the private sector to meet the enormous costs associated with climate change mitigation and adaptation. On Tuesday, Banga said the bank should carefully target where it wants to encourage private investment to help cap carbon emissions in order to have the biggest impact. "We need to focus on 10 countries where the growth of emissions will be so high if we don't change to renewables that all the work we do in the developed world to reduce the use of emission-heavy energy will be lost," he said, without naming them. These middle-income countries are states "where there is some hope for the private sector, both in terms of scalable models and the like, that renewable energy could make money," he added. In order to invite the private sector to participate, the World Bank should offer to manage some of the political risks associated with climate-related investments in these countries, along with the risk of currency fluctuations, Banga said. The World Bank group already has a political risk agency, but the foreign exchange risk is an issue that still needs to be resolved, he told the audience in New York. "That's the way to involve the private sector," he added. The post World Bank chief vows to tackle ‘dysfunctionality’ at development lender appeared first on Daily Tribune......»»
World Bank chief pledges to reform ‘dysfunctional’ development lender
World Bank President Ajay Banga said Tuesday that he is working to reform the "dysfunctional" development lender, and pledged to refocus its mission to better address the challenges posed by climate change. The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its current twin mandate of poverty alleviation and boosting shared prosperity to include climate change. "I think the twin goals have to change to being elimination of poverty, but on a livable planet, because of the intertwined nature of our crises," he said. He added that he was working to redefine the World Bank's business around what he called five key "verticals": people, prosperity, planet, infrastructure and digital. Fixing the plumbing Banga, an Indian-born naturalized US citizen, was nominated to lead the World Bank earlier this year by President Joe Biden, and began his new role in June. The bank has historically been led by an American, while the IMF has been run by a European -- a controversial arrangement that has existed since the two institutions were founded in the aftermath of the second World War. Banga has already made a number of changes to the bank's management since taking over, setting up a new 15-person private sector advisory board, and pledging deeper cooperation with regional development banks to tackle shared challenges. On Tuesday, Banga vowed to "fix the plumbing" at the bank, which he called a "dysfunctional" institution. "I want people to say when I’m gone that I left the bank working much better than when I got it, because then my successor will not have to deal with what I’m dealing with," he said. Climate change Proposals to reform the World Bank's balance sheet from countries including the US and Saudi Arabia could add as much as $125 billion in extra lending capacity if they come to pass, Banga told the audience in New York. This would be a significant increase for the development lender, which mobilized just over $100 billion in financing last year. Banga has previously called on the World Bank to collaborate more closely with the private sector to meet the enormous costs associated with climate change mitigation and adaptation. On Tuesday, Banga said the bank should carefully target where it wants to encourage private investment to help cap carbon emissions in order to have the biggest impact. "We need to focus on 10 countries where the growth of emissions will be so high if we don't change to renewables that all the work we do in the developed world to reduce the use of emission-heavy energy will be lost," he said, without naming them. These middle-income countries are states "where there is some hope for the private sector, both in terms of scalable models and the like, that renewable energy could make money," he added. In order to invite the private sector to participate, the World Bank should offer to manage some of the political risks associated with climate-related investments in these countries, along with the risk of currency fluctuations, Banga said. The World Bank group already has a political risk agency, but the foreign exchange risk is an issue that still needs to be resolved, he told the audience in New York. "That's the way to involve the private sector," he added. The post World Bank chief pledges to reform ‘dysfunctional’ development lender appeared first on Daily Tribune......»»
Trump committed fraud by inflating value of assets — judge
Donald Trump and his sons Eric and Don Jr. committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years, a New York judge ruled on Tuesday. The ruling by Judge Arthur Engoron is a setback for the former president ahead of a trial in the civil case due to begin on Monday. New York State Attorney General Letitia James has accused Trump and his two eldest sons of business fraud for allegedly submitting "grossly inflated" numbers to banks and insurers. The lawsuit asserts that they lied to tax collectors, lenders, and insurers for years in a scheme that routinely misstated the value of the organization's properties to enrich themselves. Trump's lawyers had asked the judge to throw out the case ahead of the trial by granting what is known as a summary judgment in his favor. James had also asked for a summary judgment, however, asking that Trump be found liable ahead of the trial and the judge sided with the attorney general. James is seeking $250 million in penalties and the removal of Trump and his sons from the management of the family real estate firm, the Trump Organization. James claims that Trump and associates submitted "grossly inflated" numbers to banks and insurers each year between 2011 and 2021 "to secure and maintain loans and insurance on more favorable terms." They allegedly fraudulently overvalued the net worth of Trump company assets by billions of dollars, resulting in "hundreds of millions of dollars in ill-gotten savings and profits." James has alleged that the overvaluation of Trump's assets was between $1.9 billion and $3.6 billion per year. Trump, the frontrunner for the 2024 Republican presidential nomination, has denounced the case as a "witch hunt," calling James, who is a Democrat and Black, "racist." In January, the Trump Organization was fined $1.6 million by a New York judge in a criminal tax and financial fraud case. The 77-year-old twice-impeached Trump also faces federal criminal charges for the mishandling of classified documents and conspiracy charges for trying to overturn the 2020 election results. He also faces state charges for alleged hush money payments in New York and for pressuring state officials to overturn Joe Biden's 2020 presidential election victory in Georgia. Trump was also found liable in a civil trial in May for sexually abusing a one-time magazine columnist in 1996 and for defaming her in comments made last year. The post Trump committed fraud by inflating value of assets — judge appeared first on Daily Tribune......»»
Biden jumps into auto strike bandwagon
The US auto workers union extended its strike against two of Detroit’s “Big Three” on Friday, and President Joe Biden signaled his intention to join the picket line in support of the workers or, some say, in aid of his reelection. At noon on Friday, 5,600 United Auto Workers union members joined the spectacular worker walkout from the previous week by leaving 38 US parts and distribution centers owned by General Motors and Stellantis. Although the UAW has portrayed its campaign as an effort to level the playing field economically for the working class, Friday’s events also highlighted the high political stakes, as Biden’s visit occurred only one day before a tour by Republican candidate Donald Trump was scheduled. UAW President Shawn Fain stated that the next action would affect 20 states and target Stellantis and General Motors facilities, with whom negotiations had broken down. In a conference, Fain stated, “We’re not going to wait around forever for fair contracts at the Big Three.” Fain said that because of advancements in the company’s negotiations, Ford will escape the most recent strike escalation. Biden was invited by Fain to join the picket line, telling him that the best way he could help was by strengthening their movement and demonstrating to the corporations that the public supports them. By dusk, the president had revealed his scheme on X, formerly known as Twitter. Tuesday, Biden said, “I’ll travel to Michigan to join the picket line and show my support for the UAW’s men and women as they struggle for a fair share of the value they helped create.” “It’s time for a win-win deal that keeps UAW jobs paying well and American auto manufacturing thriving.” Trump, too The trip will be the US president’s most recent to the heart of the car industry in America. Alongside GM CEO Mary Barra, Ford CEO Jim Farley, and other leaders, he has attended the 2022 Detroit Auto Show and significant project unveilings. In an effort to win over working-class voters, former president Trump had planned to visit Michigan the day before Biden’s trip. Fain claimed that by bringing back a cost-of-living factor that had been discontinued in 2009, Ford had enhanced earlier ideas. Additionally, the corporation provided a better profit-sharing program, the immediate promotion of temporary workers to full-time status, and the union’s right to go on strike in protest of plant closures. Fain asserted, “We’re not done at Ford,” adding that the business was “serious about reaching a deal.” With AFP The post Biden jumps into auto strike bandwagon appeared first on Daily Tribune......»»
Zelensky in Canada to shore up support
After getting military support from United States President Joe Biden, Ukraine leader Volodymyr Zelensky turns to Canada for more assistance in the war against Russia. Zelensky is scheduled for a Friday meeting with Canadian Prime Minister Justin Trudeau, who said that “Canada remains unwavering in our support to the people of Ukraine” ahead of the Ukrainian leader’s arrival in Ottawa on Thursday. Zelensky will also address Canada’s parliament before he and Trudeau head to Toronto for meetings with business leaders and members of the Ukrainian-Canadian community, the Canadian government said. Canada is home to the world’s second-largest Ukrainian diaspora after Russia, with about 1.36 million people of Ukrainian origin living there, according to government data. Canada’s $8.9 billion in aid to Ukraine has included more than $1.8 billion in military aid, including Leopard 2 tanks, air defense and artillery systems, anti-tank weapons, drones and other equipment. It has also trained more than 36,000 Ukrainian soldiers. Earlier, Biden said the first US M1 Abrams tanks will arrive in Ukraine “next week,” boosting Kyiv’s forces as they battle Russian troops in a slow-moving counteroffensive. WITH AFP The post Zelensky in Canada to shore up support appeared first on Daily Tribune......»»
Biden’s son Hunter to plead not guilty to gun charges
US President Joe Biden's son Hunter will plead not guilty to charges of illegally buying a gun when he was using drugs, his lawyer said Tuesday. Hunter Biden, 53, was charged last week with two counts of making false statements when claiming on forms required for a 2018 gun purchase that he was not using drugs illegally at the time. On Tuesday, Hunter Biden's lawyer, Abbe David Lowell, asked the judge presiding over the case in the eastern state of Delaware to hold the first court appearance by video conference instead of requiring his client to attend in person. Hunter Biden currently lives in California. "Mr. Biden understands both the charges against him and his rights... and we believe the Court can be assured of that fact by conducting this initial appearance by video," Lowell said in the letter to US Magistrate Judge Christopher Burke. "Mr. Biden also will enter a plea of not guilty, and there is no reason why he cannot utter those two words by video conference," Lowell said. "Mr. Biden is not seeking any special treatment in making this request," he added. "He has attended and will attend any proceedings in which his physical appearance is required." Hunter Biden is also facing a third charge, based on the same statements, that he illegally possessed the gun during an 11-day period in October 2018. If convicted on all three felony charges, he could face 25 years in prison, though in practice the offenses are seldom punished by any jail time. The indictment came two days after Republicans in Congress opened an impeachment probe against Joe Biden, a Democrat, alleging that when the elder Biden was vice president he benefited financially from his son's foreign business dealings. They alleged, without offering hard evidence, that while vice president in 2015-2016, Biden intervened to protect an allegedly corrupt Ukrainian energy company, Burisma, where Hunter Biden sat on the board. The gun charges against Hunter Biden were filed by Justice Department special counsel David Weiss, who has been investigating him since 2018 over various allegations, mostly related to his overseas business deals. A plea deal between Hunter Biden and Weiss, covering the gun charge as well as alleged tax violations, collapsed two months ago. Hunter Biden is a Yale-trained lawyer and lobbyist-turned-artist, but his life has been marred by alcoholism and crack cocaine addiction and his indictment has cast a shadow over his father's campaign for reelection next year. The post Biden’s son Hunter to plead not guilty to gun charges appeared first on Daily Tribune......»»
Biden’s son Hunter indicted on gun charges
US President Joe Biden's son Hunter was indicted Thursday for illegally buying a gun when he was using drugs, casting a new shadow over his father's campaign for reelection next year. Hunter Biden, 53, was charged with two counts of making false statements when claiming on forms required for the 2018 gun purchase that he was not using drugs illegally at the time. A third charge said that, based on the false statements, he illegally possessed the gun during an 11-day period in October that year. If convicted on all three felony charges, Biden could in theory face 25 years in prison, though in practice they are seldom punished by any jail time. In attesting that he was not an unlawful user of drugs when he bought the Colt Cobra revolver, Biden "knew that statement was false," the Justice Department said. The indictment came two days after Republicans in Congress opened an impeachment probe against Democrat Joe Biden, alleging that when he was vice president he benefitted financially from his son's foreign business dealings. The legal troubles of Hunter Biden present a target for political rivals of his father, who is bidding for a second term in the White House. Hunter is a Yale-trained lawyer and lobbyist-turned-artist, but his life has been marred by alcoholism and crack cocaine addiction. Without offering any evidence, Republicans have accused Biden's Justice Department of protecting his son and have accused Weiss, a Republican appointee, of going easy on Hunter. Representative James Comer, a Republican from Kentucky who will be leading the impeachment inquiry, welcomed the filing of the gun charges, calling it a "very small start." "Mountains of evidence reveals that Hunter Biden likely committed several felonies and Americans expect the Justice Department to apply the law equally," Comer said. Twice-impeached former president Donald Trump reacted on his Truth Social platform. "This, the gun charge, is the only crime that Hunter Biden committed that does not implicate Crooked Joe Biden," he said. - Plea deal collapsed - But a leading Democrat, Keisha Lance Bottoms, ex-mayor of Atlanta and a former senior adviser to Joe Biden, questioned why Hunter had been charged. "Can anyone tell me how many people have been federally indicted for purchasing a gun while dealing with substance abuse issues?" Bottoms said on X, formerly known as Twitter. "I don't know the answer, but in my over 29 years as an attorney, I have never heard of it." The gun charges were filed by Justice Department special counsel David Weiss, who has been investigating Hunter Biden since 2018 over various allegations, mostly related to his overseas business deals. Two months ago a plea deal between Biden and Weiss, covering the gun charge as well as alleged tax violations, went sour. Biden agreed to plead guilty in federal court in Delaware to two minor tax charges. In exchange he was offered probation, as he had already paid what he owed the government along with penalties. Weiss agreed to suspend the felony gun charge if Biden completed "pretrial diversion," which often involves counseling or rehabilitation. But in a dramatic July 26 hearing, the deal collapsed over whether Biden would have been immune from any other charges also investigated by Weiss, including possible crimes related to his business dealings in Ukraine, China and elsewhere. The judge mentioned the possibility that Biden could be charged as having acted as a lobbyist for foreign governments without registering with the Justice Department. Three weeks later, after the deal collapsed, Weiss dropped the tax charges and said an indictment on the gun charge would come by the end of September. As the 2024 election race swings into gear, Republicans in the House of Representatives on Tuesday formally opened an impeachment inquiry against President Biden. They alleged, without offering hard evidence, that while vice president in 2015-2016, Biden intervened to protect an allegedly corrupt Ukrainian energy company, Burisma, where Hunter Biden sat on the board. Republicans allege Joe Biden and his family reaped large sums for helping Burisma. The post Biden’s son Hunter indicted on gun charges appeared first on Daily Tribune......»»
Biden leads US tech push in Vietnam
President Joe Biden and senior executives from top US tech firms including Google and Intel met Vietnamese business leaders Monday after the two countries agreed to deepen cooperation as Washington seeks to counter China's growing clout. Biden and Vietnam's ruling Communist Party chief -- the country's paramount leader -- struck a "comprehensive strategic partnership" as Washington pushes to boost its network of allies around Asia and the Pacific. The United States sees manufacturing dynamo Vietnam as an important part of its plan to decrease reliance on China for supplies of strategic resources, and the new pact includes agreements on semiconductors and rare earths. Executives from tech behemoth Google, chip makers Intel and GlobalFoundries, and aviation giant Boeing joined Biden and Secretary of State Antony Blinken for an "innovation and investment summit". They held talks with senior figures from a host of leading Vietnamese tech and manufacturing companies including electric car maker VinFast, internet firm VNG and digital wallet Momo. At the talks, Biden announced that flag-carrier Vietnam Airlines had agreed a $7.8-billion deal with Boeing to buy 50 medium-haul 737 airliners. Other deals announced include Microsoft developing a "generative AI-based solution tailored for Vietnam" and NVIDIA teaming up with local companies to deploy artificial intelligence in the cloud, automotive and healthcare sectors. Semiconductor security The new partnership includes an agreement on semiconductors, with the United States committing to help Vietnam develop its capabilities and expand production, including by funding workforce training. Tiny semiconductors are vital to modern life, found in every electronic device from children's toys and smartphones to electric cars and sophisticated weapon systems. Biden moved last month to restrict US investment in Chinese technology in sensitive areas including semiconductors, quantum computing and AI. With Washington looking to diversify and strengthen its supply chains after a series of shocks hit the global economy, it is increasingly looking to Vietnam, which has the world's second-largest deposits of rare earths -- another strategically vital resource -- after China. The White House highlighted US investment in chipmaking in Vietnam, pointing to a new $1.6 billion factory near Hanoi due to start operations soon. China difficulties Biden insisted Sunday that he did not want to "contain" China, but accused Beijing of seeking to change the rules of the international order. And in their joint statement, Biden and Trong launched a fresh broadside at Beijing in the sprawling, multi-state territorial row over the South China Sea. They warned against "threat or the use of force", days after the latest clash involving Chinese vessels, and insisted the competing claims to the strategic waterway must be settled under international norms. Beijing claims almost the entire sea, through which trillions of dollars in trade passes annually, and has ignored an international court ruling that its assertion has no legal basis. The president met Chinese Premier Li Qiang -- the country's number two leader -- on the sidelines of the G20 summit in Delhi on Sunday. Biden said the major economic problems Beijing was wrestling with would limit its scope for action, particularly on Taiwan -- which China regards as a renegade province. "China has a difficult economic problem right now for a whole range of reasons that relate to the international growth and lack thereof and the policies that China has followed," he said, pointing to high youth unemployment and real estate issues. "I don't think it's going to cause China to invade Taiwan. As a matter of fact, the opposite -- it probably doesn't have the same capacity that it had before." Vietnam has its own squabbles with Beijing, notably over the contested South China Sea. Hanoi's state media on Monday hailed the deal with former war foe the United States as "historic". Biden will end his visit by paying his respects at a memorial to his friend John McCain, the former US Senator shot down in Hanoi as a pilot during the Vietnam War. The post Biden leads US tech push in Vietnam appeared first on Daily Tribune......»»
US and Vietnam set to expand ties as China worries grow
US President Joe Biden arrives in Vietnam on Sunday set to deepen cooperation between the two nations, in the face of China's growing ambitions in the region. Biden -- who is flying from the G20 summit in New Delhi -- will meet the leader of Vietnam's ruling Communist Party, Nguyen Phu Trong, on Sunday, and is expected to sign off on a "comprehensive strategic partnership", Hanoi's highest level of diplomatic ties. The underlying goal of the short visit will be much the same as during Biden's time at the G20 gathering -- to shore up support against China's increasing influence. For Vietnam, the upgrading of diplomatic ties is significant. It only has top-level ties with Russia, India, South Korea and China. Although it will be careful to be seen as not taking sides between the United States and China, Vietnam shares American concerns about its neighbor's growing assertiveness in the contested South China Sea. The United States and Vietnam -- a key manufacturing hub -- also have increasingly close trade ties, and Washington sees Hanoi as an important partner as it looks to source less from China after supply chain shocks rocked the global economy in recent years. In Hanoi on Sunday, there will be a welcome ceremony, speeches by the two leaders and a press conference by the US president -- who on Tuesday awarded the top US military honor to a helicopter pilot who rescued four soldiers during the Vietnam War. Biden will meet President Vo Van Thuong and Prime Minister Pham Minh Chinh the following day. Ahead of the 80-year-old US president's arrival, Hanoi's central Hoan Kiem Lake area, packed with families out for a weekend stroll, was adorned with American and Vietnamese flags. Nearby in the city's old quarter, a souvenir shop sold T-shirts with Biden's face emblazoned across the front. "I think the US is a good friend to Vietnam," said the shop's 61-year-old owner Truong Thanh Duc. "With this visit of President Joe Biden, I think he will bring more business contracts and jobs to Vietnamese people." - Human rights - In Vietnam, Biden will be juggling strategic interests with the defense of human rights. The Southeast Asian country has a dire human rights record. Government critics face intimidation, harassment and imprisonment after unfair trials, and there are reports of police torture to extract confessions, Human Rights Watch says. While the president has often criticized China's human rights record, he has largely stayed quiet on Vietnam and campaigners are fearful he may not press the subject. National Security Advisor Jake Sullivan said prior to the trip that Biden would raise issues related "to freedom of expression, freedom of religion, and other basic human rights". His visit comes days after a US government commission on religious freedom harshly criticized Vietnam for "egregious, ongoing, and systematic violations". On Saturday, Nguyen Bac Truyen, a legal expert and religious freedom advocate who was sentenced in 2018 to 11 years in prison for subversion, said on Facebook he had been released and allowed to travel to Germany with his wife. Vietnam often releases political prisoners prior to US presidential visits. Biden's visit to Hanoi will mean he leaves early from the G20 summit, where leaders agreed on a joint declaration that papered over deep divisions on the war in Ukraine and tackling climate change, avoiding direct criticism of Moscow and any concrete pledge to phase out polluting fossil fuels. His Vietnam trip will also include a poignant visit to the memorial to his friend John McCain, the former US senator shot down and held captive during the Vietnam War who in later years helped rebuild ties between the two countries. burs-aph/sco © Agence France-Presse The post US and Vietnam set to expand ties as China worries grow appeared first on Daily Tribune......»»
Trump has 10 days to surrender
Former United States president Donald Trump and 18 others were charged Tuesday with racketeering over their attempt to overturn Georgia state’s presidential election result in 2020 and they were given 10 days to voluntarily surrender. “Rather than abide by Georgia’s legal process for election challenges, the defendants engaged in a criminal racketeering enterprise to overturn Georgia’s presidential election result,” Fulton County prosecutor Fani Willis told reporters. Willis gave the 19 individuals named in Monday’s grand jury indictment until noon of 25 August to voluntarily surrender. Trump, who is running for president next year, called the indictment a witch hunt in a post on his Truth Social platform. “Why didn’t they indict 2.5 years ago? Because they wanted to do it right in the middle of my political campaign,” his post read. The Trump campaign released a statement as the charges were being processed calling Willis, who is a Democrat, a “rabid partisan” who was “persecuting” the former president with “bogus indictments.” In response, Willis said: “I make decisions in this office based on the facts and the law. The law is completely nonpartisan.” The indictment is the fourth and latest against the 77-year-old Republican, compounding the legal threats he is facing in multiple jurisdictions which may imperil his bid for a second White House term. He was already federally indicted over the alleged plot to subvert the election and is also facing prosecutions over his alleged mishandling of classified documents and keeping allegedly fraudulent business records. The twice-impeached Trump was charged with violating Georgia’s Racketeer Influenced And Corrupt Organizations Act, as well as six conspiracy counts over alleged efforts to commit forgery, impersonate a public official and submit false statements and documents. He is also accused of lying in statements and filing fake documents, as well as solicitating public officials to break their oaths. Trump’s former personal lawyer and ex-New York City mayor Rudy Giuliani, who pressured local legislators over the result after the election, and Trump’s White House chief of staff, Mark Meadows, were among the 18 co-defendants. Giuliani faces 13 felony counts, including over accusations of harassment of two Fulton County poll workers. Other Trump allies were charged over the accessing of sensitive data from an election office in a rural county south of Atlanta, one day after the 2021 Capitol riot. Atlanta-area authorities launched the probe after Trump called Georgia officials weeks before he was due to leave the White House, pressuring them to “find” the 11,780 votes that would reverse President Joe Biden’s victory in the Peach State. WITH AFP The post Trump has 10 days to surrender appeared first on Daily Tribune......»»
Trump indicted for racketeering over 2020 election interference
Donald Trump was indicted Tuesday on charges of racketeering and a string of election crimes after a sprawling, two-year probe into his efforts to overturn his 2020 defeat to Joe Biden in the US state of Georgia. The case -- relying on laws typically used to bring down mobsters -- is the fourth targeting the 77-year-old Republican this year and could lead to a watershed moment, the first televised trial of a former president in US history. Prosecutors in Atlanta charged the Republican leader with 13 felony counts -- compounding the legal threats he is facing in multiple jurisdictions as a firestorm of investigations imperils his bid for a second White House term. Eighteen co-defendants were indicted in the probe, including Trump's former personal lawyer Rudy Giuliani, who pressured local legislators over the result after the election, and Trump's White House chief of staff, Mark Meadows. "Trump and the other defendants charged in this indictment refused to accept that Trump lost, and they knowingly and willfully joined a conspiracy to unlawfully change the outcome of the election in favor of Trump," the indictment read. "That conspiracy contained a common plan and purpose to commit two or more acts of racketeering activity in Fulton County, Georgia, elsewhere in the state of Georgia, and in other states." With Trump already due to go on trial in New York, south Florida and Washington, the latest charges herald the unprecedented scenario of the 2024 presidential election being litigated as much from the courtroom as the ballot box. The Trump campaign released a statement as the charges were being processed calling Fulton County's chief prosecutor Fani Willis, who is a Democrat, a "rabid partisan" who was "persecuting" the former president with "bogus indictments." The twice-impeached Trump was charged with violating Georgia's Racketeer Influenced And Corrupt Organizations (RICO) Act, as well as six conspiracy counts over alleged efforts to commit forgery, impersonate a public official and submit false statements and documents. He is also accused of lying in statements and filing fake documents, as well as soliciting public officials to break their oaths. - Most serious threat - Georgia, which Biden won by fewer than 12,000 votes, presents perhaps the most serious threat to Trump's liberty as he leads the field comfortably for his party's nomination to bid for reelection. Even if he is returned to the Oval Office, he would have none of the powers that presidents arguably enjoy in the federal system to pardon themselves or have prosecutors drop cases. The harsh penalties associated with RICO cases can be an incentive for co-defendants to seek cooperation deals, and the statutes are usually used to target organized crime. Under federal law, anyone who can be connected to a criminal "enterprise" through which offenses were committed can be convicted under RICO. The broader Georgia law doesn't even require the existence of the enterprise. Atlanta-area authorities launched the probe after Trump called Georgia officials weeks before he was due to leave the White House, pressuring them to "find" the 11,780 votes that would reverse Biden's victory in the Peach State. Meadows, who is accused of trying to get a public official to violate his oath, was on the call. Willis empaneled a special grand jury that heard from around 75 witnesses before recommending a raft of felony counts in a secret report in February. She alleges that Trump's team worked with local Republicans on a scheme to replace legitimate slates of "electors" -- the officials who certify a state's results and send them to the US Congress -- with fake pro-Trump stand-ins. - Criminal intent? - Giuliani, who faces 13 felony counts, was being investigated over accusations of harassment of two Fulton County poll workers while other Trump allies were charged over the accessing of sensitive data from an election office in a rural county south of Atlanta, one day after the 2021 Capitol riot. Trump is already facing dozens of felony charges after being federally indicted over the alleged plot to subvert the election, and further prosecutions over his alleged mishandling of classified documents and keeping allegedly fraudulent business records. Authorities in Atlanta installed security barricades outside the downtown courthouse in anticipation of a potential influx of Trump supporters and counter-protesters in the latest case. Lawmakers investigating Trump's efforts to cling to power heard evidence in a series of congressional hearings last summer that would challenge his potential defense that he genuinely believed he had been cheated of the election. ft/sst © Agence France-Presse The post Trump indicted for racketeering over 2020 election interference appeared first on Daily Tribune......»»
US Justice Dept names special counsel to probe Biden’s son
The US Justice Department on Friday escalated its investigation into President Joe Biden's son Hunter, naming a special counsel amid allegations he engaged in illicit business deals overseas. Attorney General Merrick Garland appointed Delaware federal prosecutor David Weiss, who recently investigated Hunter Biden on tax and gun charges in a case that remains open. Weiss, who opened his probe in 2019, recently revealed that he was investigating Biden along other lines, and Garland said Weiss had requested special counsel status to be able to pursue his probe more widely. "Upon considering his request, as well as the extraordinary circumstances relating to this matter, I have concluded that it is in the public interest to appoint him as special counsel," Garland said. Deals in China, Ukraine Hunter Biden has come under investigation in Congress over business deals he did in China, Ukraine, and elsewhere during and after his father's 2009-2017 term as vice president. A former business associate told Congress recently that Hunter had gotten his father involved in telephone calls with his foreign partners several times. Republicans allege Joe Biden used his political position to help his son -- a claim the president denies. The move comes as Joe Biden is running for reelection, possibly in a rematch with former president Donald Trump, himself accused of felony crimes in the investigation by another Justice Department special counsel, Jack Smith. Garland gave no hint on the subject matter of Weiss' expanded probe, saying his elevation to the special counsel "reaffirms" the independence and authority of his investigation. Last month, the 53-year-old Hunter aborted a plea deal with Weiss over gun and tax charges after a judge pointed out inconsistencies in the agreement. The deal would have seen Biden avoid prison: he would have been sentenced to probation on two tax avoidance counts, and be forced into a counseling and rehabilitation program for the firearms charge. But the deal fell apart after Judge Maryellen Noreika queried why the gun charge was included in a tax case, and whether the agreement protected Biden from charges that might arise from a wider investigation of his business dealings. Biden then entered a not-guilty plea, and the two sides were expected to work out a new agreement. But in a filing in Delaware court on Friday, Weiss said those talks had reached an impasse and withdrew the offer of a plea deal. Instead, he indicated that the tax charges could be expanded to other venues. Republicans say DOJ protecting Biden There was no comment from the White House on Weiss's elevation to special counsel. In a social media post, a Trump spokesperson alleged that the Biden family had been "protected by the Justice Department for decades." "There is overwhelming evidence and credible testimony detailing their wrongdoing of lying to the American people and selling out the country to foreign enemies for the Biden Cartel's own financial gain," the spokesperson said, without offering evidence. Republican House Speaker Kevin McCarthy indicated that the Congressional probe of Hunter Biden will continue. "This action by Biden's DOJ cannot be used to obstruct congressional investigations or whitewash the Biden family corruption," he said on social media. The post US Justice Dept names special counsel to probe Biden’s son appeared first on Daily Tribune......»»
PBBM to attend APEC summit in the US
President Ferdinand Marcos Jr. on Wednesday said he would join the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California this November. "The Philippines is actively participating in the Indo-Pacific economic framework and APEC leaders meeting in San Francisco in November. I look forward to joining fellow APEC leaders in California later this year,” Marcos told American business leaders in a courtesy meeting. “This will be my third trip in the US since I assume office," he added. Marcos traveled to New York last September to join the 77th session of the United Nations General Assembly. The Chief Executive also visited Washington, DC for a five-day official visit. During this period, he engaged in meetings with President Joe Biden, Vice President Kamala Harris, various US officials, as well as leaders from the business community. The post PBBM to attend APEC summit in the US appeared first on Daily Tribune......»»