The Philippines is in talks with Indonesia and Russia as the nation races to secure its fuel supply, according to Energy Secretary Sharon Garin , who said countries must honor trade contracts as the Iran war rages on. Manila’s energy officials and diplomats have approached nations that supply fuel to the Philippines to continue our “longstanding agreements” with them “because we have good relation...
The Philippines is in talks with Indonesia and Russia as the nation races to secure its fuel supply, according to Energy Secretary Sharon Garin , who said countries must honor trade contracts as the Iran war rages on. Manila’s energy officials and diplomats have approached nations that supply fuel to the Philippines to continue our “longstanding agreements” with them “because we have good relations with these countries also,” Garin said in a briefing on Monday. These include China, South Korea, Singapore, Thailand and Japan, she said. The Philippines is in discussions with Indonesia for coal imports to ensure that Manila’s electricity supply remains stable, Garin said. Indonesia is the Philippines’ main supplier of coal which fuels more than half of its power grid. The Philippines’ lone refiner, Petron Corp. , is in talks with suppliers of Russian oil as the country looks at alternative exporters. Petron is in discussions with Russian crude oil traders, Chief Executive Officer Ramon Ang said in a text message. Nations across the world are scrambling to secure their own supplies as the Middle East conflict tightens availability. In Southeast Asia, Vietnam has said crude not yet committed for export must be sold to local refineries, while Thailand halted some outbound shipments of oil and rice . Indonesia said it would prioritize its coal and palm oil output for local needs. At last week’s meeting in Manila of economic ministers from the Association of Southeast Asian Nations, the regional bloc failed to secure any firm commitments from its members to waive export curbs although discussions will continue. The Philippines, a nation of 113 million people, is particularly vulnerable as it imports nearly its entire oil requirements, bulk of it from the Middle East. Read More: Philippines Seeks Oil Law Review as High Prices Threaten Nation “I’m not nervous as long as there’s no hoarding,” Garin said, when asked about the possibility of shortage. Her agency had warned profi...
Julius Baer Group AG ’s Chief Executive Officer Stefan Bollinger is set to be paid a total of 23.96 million Swiss francs ($30.3 million) for 2025, his first year in charge of the Swiss bank. The package contains almost 15 million francs in replacement payments for benefits he forfeited when leaving Goldman Sachs Group Inc. plus some 930,000 francs in social security, pension and other items. Juliu...
Julius Baer Group AG ’s Chief Executive Officer Stefan Bollinger is set to be paid a total of 23.96 million Swiss francs ($30.3 million) for 2025, his first year in charge of the Swiss bank. The package contains almost 15 million francs in replacement payments for benefits he forfeited when leaving Goldman Sachs Group Inc. plus some 930,000 francs in social security, pension and other items. Julius Baer is currently under a formal enforcement proceeding by Swiss regulator Finma related to risk management failures under prior management. The bank is unable to carry out share buybacks to return capital to investors until the matter is concluded. Read More: Julius Baer Posts Lower Profit as Benko Clean-Up Grinds On Bollinger’s annual base salary is 1.52 million Swiss francs, according to the report.
Oil fluctuated after Iran said crude flows were continuing from its main export hub following a US attack on military facilities on the Kharg Island. It comes as President Trump raised pressure on other nations to help reopen the Strait of Hormuz. Matt Stanley, Market Engagement Head at Kpler spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche on the impact of the strike...
Oil fluctuated after Iran said crude flows were continuing from its main export hub following a US attack on military facilities on the Kharg Island. It comes as President Trump raised pressure on other nations to help reopen the Strait of Hormuz. Matt Stanley, Market Engagement Head at Kpler spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche on the impact of the strikes on Kharg Island. (Source: Bloomberg)
Google has dropped a new artificial intelligence search feature that gave users crowdsourced health advice from amateurs around the world. The company had said its launch of “What People Suggest”, which provided tips from strangers, showed “the potential of AI to transform health outcomes across the globe”. But Google has since quietly removed the feature, according to three people familiar with t...
Google has dropped a new artificial intelligence search feature that gave users crowdsourced health advice from amateurs around the world. The company had said its launch of “What People Suggest”, which provided tips from strangers, showed “the potential of AI to transform health outcomes across the globe”. But Google has since quietly removed the feature, according to three people familiar with the decision. A Google spokesperson confirmed “What People Suggest” had been scrapped. The move came as part of a “broader simplification” of its search page and had nothing to do with the quality or safety of the new feature, the spokesperson said. The revelation comes as the company faces mounting scrutiny over its use of AI to provide millions of users with health information and advice. In January, a Guardian investigation found people were being put at risk of harm by false and misleading health information in Google AI Overviews. The AI-generated summaries are shown to 2 billion people a month, and appear above traditional search results on the world’s most visited website. Google initially sought to downplay the Guardian’s findings. The AI Overviews that alarmed independent experts linked to reputable sources and recommended seeking expert advice, the company said. Days later, Google removed AI Overviews for some but not all medical queries. View image in fullscreen The company had said the launch of What People Suggest tool showed ‘the potential of AI to transform health outcomes across the globe’. Photograph: Google In March last year at an event in New York, Google said it planned to expand medical-related AI summaries in search. The company said it was adding a new feature, “What People Suggest”, which aimed to provide users with information from people with similar lived medical experiences. On the day of “The Check Up” event, Karen DeSalvo, then Google’s chief health officer, wrote a blog post outlining why the company was launching the new feature, and how it w...