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MANILA, Philippines — The government will pursue legal action against Chinese fishermen if evidence supports claims of cyanide fishing in Bajo de Masinloc, also known as the Scarborough Shoal, President Ferdinand Marcos Jr. said Tuesday.
MANILA, Philippines — Vice President Sara Duterte has cried foul over the recent testimony of a former member of pastor Apollo Quiboloy's church who said he saw Duterte receive "bags of guns" from the controversial religious leader.
MANILA, Philippines – The Philippine Sports Commission will seek no less than President Ferdinand Marcos Jr. help when it contests the non-compliance accusation of the World Anti-Doping Agency that has now been elevated to the Court of Arbitration for Sport (CAS) for resolution.
SEOUL, South Korea — Russian President Vladimir Putin has gifted North Korean leader Kim Jong Un a Russian-made car, Pyongyang's state media said Tuesday, as the two countries bolster ties in areas from tourism to defense.
Larry Summers [link], the former US Treasury Secretary (under President Bill Clinton) and former Chief Economist of the World Bank, said that the US Federal Reserve may still need to raise rates before it can declare victory in the war against inflation. In statements to Bloomberg, he said: “People are a little bit in too much of a hurry to declare that we’ve done all the monetary policy that we need to do.” Referring to the big rallies in stocks and US Treasuries, Mr. Summers continued: “It makes me not as certain as many people that the job of containing inflation is over and that the war is done.” Mr. Summers also criticized the management of the country’s debts, and shared concerns that the labor market is perhaps too hot to be “consistent with sustainable inflation at 2%.”
I got this question in response to news that the House of Representatives approved two measures that seek to ban POGOs in the Philippines. POGOs, or Philippine Offshore Gaming Operators, are licensed and monitored by the Philippine Amusement and Gaming Corp. (PAGCOR), and have been controversial since their presence exploded during Rodrigo Duterte’s term as president. These shady organizations proliferated wildly in the early days, causing huge spikes in demand for commercial office space for the companies and residential condos around those offices for the workers who were largely Chinese nationals. Our commercial REITs were initially exposed to these POGOs in various degrees due to the tempting rents that could be (in theory) extracted from these companies, but some of the more risk-adverse REITs quickly moved to limit their exposure due to a long (and growing) list of problems with these POGOs. The most important problem was the chaotic management of the sector by PAGCOR and the President, which seemed to only attract “here for now” type companies that often struggled to pay their monthly rents or outright refused to do so. Of all the commercial REITs, all have (in some form) committed to reducing their POGO exposure over time. Three REITs have declared that they are POGO-free: AREIT [AREIT 33.90, down 0.6%], MREIT [MREIT 13.52, down 0.1%], and Filinvest REIT [FILRT 3.21, up 0.9%]. RL Commercial REIT [RCR 5.49, down 2.0%] said back in 2021 that 2.8% of their tenants were POGO, but have not (to my knowledge) provided any updates on the proportion of their tenants that are POGOs. DDMP [DDMPR 1.21, up 0.8%] reported in its FY22 Annual Report that it still had 37% of its total GLA rented out to POGO and PAGCOR-accredited tenants.
Prabowo Subianto used to run polarising presidential campaigns that demonised his opponents and projected a bombastic, nationalistic persona. At one rally in 2014, the former general arrived by helicopter and inspected a red beret-wearing honour guard from horseback.
SENATORS on Monday dismissed reports of an apparent move to replace Senate President Juan Miguel «Migz» Zubiri.