The Philippines is looking at ways to save on energy as tensions in the Middle East push global fuel costs higher, with the government suggesting people use their air conditioners less and shy away from non-essential travel. The Southeast Asian nation imports nearly all of its oil requirements, and the war in Iran could spur inflation that already hit a 13-month high in February. President Ferdina...
The Philippines is looking at ways to save on energy as tensions in the Middle East push global fuel costs higher, with the government suggesting people use their air conditioners less and shy away from non-essential travel. The Southeast Asian nation imports nearly all of its oil requirements, and the war in Iran could spur inflation that already hit a 13-month high in February. President Ferdinand Marcos Jr. ’s administration this week ordered government offices to set their air-cons to no lower than 24 degrees C (75 degrees fahrenheit) and adopt flexible work arrangements to help conserve fuel. Marcos, who plans to seek emergency authority from Congress to slash taxes on petroleum products, is also entertaining the idea of a four-day work week. Vice President Sara Duterte meanwhile has urged her supporters to refrain from organizing motorcades or vehicle caravans when they protest against her political rival, Marcos. The mayor of Manila directed the city government to cut fuel consumption by shifting meetings online, switching power off by 5:00 p.m. and banning non-essential travel. The Philippines is widely seen by economists as one of the most vulnerable nations in the Asia-Pacific region to inflation and growth risks spurred by the Middle East conflict. The archipelago “tends to see a stronger inflation hit because retail fuel prices are more market-driven and subsidies are limited,” Deepali Bhargava , regional head of research at ING Bank NV, said. Some government agencies have said they will provide fuel subsidies to fisherfolk, farmers and public transport drivers. There’s also an app citizens can use to lock in energy prices ahead of time. Tim Gonzales, a 30-year-old online marketer who has a sport utility vehicle for his family of four, said he used it to buy around 300 liters (79 gallons) of diesel. “I can buy liters of virtual fuel in advance and lock in the current price,” he said. Gonzales has been using the app since 2022 and has created a Facebook c...
上環兩找換店客人攜千萬街頭遇劫 警方拘捕三人 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】上環發生街頭劫案，兩名找換店客人離開時被持刀匪徒搶劫，其中一人受傷，無財物損失，警方拘捕三人。 兩名匪徒在港鐵上環站內被...
上環兩找換店客人攜千萬街頭遇劫 警方拘捕三人 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】上環發生街頭劫案，兩名找換店客人離開時被持刀匪徒搶劫，其中一人受傷，無財物損失，警方拘捕三人。 兩名匪徒在港鐵上環站內被警員制服，坐在地上接受盤問，附近留下兩把刀，警方又在德輔道中截停一輛懷疑接載匪徒的私家車。警方指上午九時許，兩名事主帶同約值港幣1000萬元的人民幣和美元現鈔，到上環找換店兌換成港幣，離開後行到上環站時遭行劫，匪徒當場被埋伏的警員制服。事件中三名年齡介乎19至31歲男子被捕，現正調查是否與近期其他找換店劫案有關。
(RTTNews) - The China stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had retreated almost 70 points or 2.3 percent. The Shanghai Composite Index now sits just above the 3,235-point plateau although it's likely to move back to the downside on Friday. The global forecast for the Asian markets is soft, with oil and technology shares...
(RTTNews) - The China stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had retreated almost 70 points or 2.3 percent. The Shanghai Composite Index now sits just above the 3,235-point plateau although it's likely to move back to the downside on Friday. The global forecast for the Asian markets is soft, with oil and technology shares expected to lead the markets lower. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead. The SCI finished modestly higher on Thursday following gains from the financial shares and resource companies. For the day, the index rose 8.92 points or 0.28 percent to finish at 3,236.03 after trading between 3,217.10 and 3,265.28. The Shenzhen Composite Index improved 8.31 points or 0.44 percent to end at 1,909.45. Among the actives, Industrial and Commercial Bank of China was up 0.75 percent, while China Construction Bank increased 1.68 percent, China Merchants Bank advanced 0.86 percent, Agricultural Bank of China gained 0.59 percent, China Life Insurance collected 0.73 percent, Jiangxi Copper spiked 2.93 percent, Aluminum Corp of China (Chalco) surged 5.00 percent, Yankuang Energy improved 0.75 percent, PetroChina jumped 1.58 percent, China Petroleum and Chemical (Sinopec) added 0.32 percent, Huaneng Power lost 0.47 percent, China Shenhua Energy strengthened 1.25 percent, Gemdale shed 0.44 percent, Poly Developments sank 0.80 percent and China Vanke rose 0.29 percent. The lead from Wall Street is negative as the major averages opened slightly higher on Thursday but quickly turned lower, spending most of the day in the red before finishing under water. The Dow sank 68.42 points or 0.16 percent to finish at 43,153.13, while the NASDAQ slumped 172.95 points or 0.89 percent to close at 19,338.29 and the S&P 500 slipped 12.57 points or 0.21 percent to end at 5,937.34. The choppy trading on Wall Street came as traders took ...
Bond investors, who have been focused on inflation since the Iran war began, say a surprise in the monthly US jobs report has the potential to upend their expectations for Federal Reserve interest-rate cuts. Strategists at PGIM Fixed Income, Natixis and Amerivet Securities are on watch for February payrolls significantly above or below expectations. That could shift the focus back to the labor out...
Bond investors, who have been focused on inflation since the Iran war began, say a surprise in the monthly US jobs report has the potential to upend their expectations for Federal Reserve interest-rate cuts. Strategists at PGIM Fixed Income, Natixis and Amerivet Securities are on watch for February payrolls significantly above or below expectations. That could shift the focus back to the labor outlook even as rising oil prices tied to the Middle East conflict weigh on the market. Treasuries sold off this week on concern that the recent shock to energy markets could spill over and drive inflation higher. Two-year yields — the maturity most closely tied to expectations for Federal Reserve policy — jumped to their highest level in more than a month, and traders slashed bets on rate cuts this year. “If jobs are being destroyed, the Fed may go back to taking some risks” and cut rates, said Robert Tipp , head of global bonds at PGIM. A weak reading has the potential to help firm up bets on a second rate cut this year, sparking gains in the $31 trillion Treasury market. On the flip side, a stronger-than-expected report would likely further dampen the outlook for Fed easing, pushing yields higher. “Global rates are reacting to energy around the Iranian situation. If we get a better number tomorrow it fuels the fire,” said Gregory Faranello , head of US rates at Amerivet Securities. Investors have been ping-ponging between inflation fears tied to rising oil prices, resilience in economic growth and longer-term questions about whether artificial intelligence will ultimately boost productivity or begin eroding employment. With Treasury yields hovering in a range — benchmark 10-year notes rose to 4.14% this week — the jobs data, followed by next week’s consumer price index report, could help provide the market with clearer direction. “The Fed is more focused on the inflation side of their mandate at the moment,” said Anders Persson , CIO and head of global fixed income at Nuvee...