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Thousands around the world hold protests vs Middle East war

PEOPLE raise Palestinian flags during a protest against Israel and in support of Palestinians outside the US embassy in Jakarta, Indonesia, Oct. 6, 2024. — REUTERS

PARIS/WASHINGTON — Thousands of protesters took to the streets in major cities around the world on Saturday demanding an end to bloodshed in Gaza and the wider Middle East as the start of Israel’s war in the Palestinian enclave approaches its first anniversary.

About 40,000 pro-Palestinian demonstrators marched through central London while thousands gathered in Paris, Rome, Manila, Cape Town and New York City. Demonstrations were also held near the White House in Washington, protesting US support for its ally Israel in military campaigns in Gaza and Lebanon.

Protesters at Times Square in New York City wore the black-and-white keffiyeh scarf and chanted slogans like: “Gaza, Lebanon you will rise, the people are by your side.” They held banners demanding an arms embargo against Israel.

The latest bloodshed in the decades old Israeli-Palestinian conflict was triggered when Palestinian Hamas militants attacked southern Israel on Oct. 7, 2023, killing 1,200 people and taking about 250 as hostages, according to Israeli tallies.

Israel’s subsequent military assault on Gaza has killed nearly 42,000 Palestinians, according to Gaza’s health ministry. It has also displaced nearly all of the enclave’s 2.3 million people, caused a hunger crisis and led to genocide allegations at the World Court that Israel denies.

“Unfortunately, in spite of all our good will, the Israeli government does not take any notice, and they just go ahead and continue their atrocities in Gaza, now also in Lebanon and in Yemen, and also probably in Iran,” said protestor Agnes Kory in London.

“And our government, our British government, unfortunately is just paying lip service and carries on supplying weapons to Israel,” she added.

In Jakarta, the capital of Indonesia, the world’s most populous Muslim-majority country, at least 1,000 pro-Palestinian protesters gathered on Sunday morning near the US embassy demanding that Washington stop supplying weapons to Israel.

In London, counter-demonstrators waved Israeli flags as pro-Palestinian marchers walked by. There were 15 arrests on the sidelines of the protests, according to police, who did not specify whether those detained were from either group.

In Rome, police fired tear gas and water cannons after clashes broke out. Around 6,000 protesters defied a ban to march in the city center ahead of the Oct. 7 anniversary of Hamas’ attack.

In Berlin, a protest drew about 1,000 demonstrators with Palestinian flags, who chanted: “One Year of Genocide.”

German demonstrators also criticized what they called police violence against pro-Palestinian protesters. Israel supporters in Berlin protested against rising antisemitism. Scuffles broke out between police and pro-Palestinian protesters.

Over the past year, the scale of the killing and destruction in Gaza has drawn some of the biggest global protests in years, including in the U.S., that saw weeks of pro-Palestinian college campus encampments.

Advocates have raised concerns over alarming antisemitic and Islamophobic rhetoric in some protests and counter-protests related to the conflict. Rights advocates have warned about rising threats against Muslims and Jews around the world.

Israel’s supporters have expressed offense over some slogans that they say question Israel’s right to exist as a nation. Pro-Palestinian protesters point to violence such as an incident in which a mob in California attacked an encampment of demonstrators in April.

The war in Gaza has spread through the region, drawing in Iran-backed groups in Lebanon, Yemen and Iraq. Israel has sharply escalated a campaign in recent weeks in Lebanon that has killed hundreds, wounded thousands and displaced over a million. Israel says it is attempting to dismantle Lebanese Iran-backed Hezbollah militants.

Iran launched a barrage of missiles against Israel this week to which Israel has not yet responded. Israeli operations have also escalated in the Israeli-occupied West Bank since the start of the war in Gaza.

In Paris, Lebanese-French protestor Houssam Houssein said: “We fear a regional war, because there are tensions with Iran at the moment, and perhaps with Iraq and Yemen.” Houssein added: “We really need to stop the war because it’s now become unbearable.”

Israel has faced wide international condemnation over its actions in Gaza, and now over its bombarding of Lebanon. Prime Minister Benjamin Netanyahu says his government is acting to prevent a repeat of the Oct. 7 assault by Hamas and Washington says it supports Israel’s right to self-defense.

US government agencies warned on Friday that the anniversary of Hamas’ Oct. 7 attacks may motivate individuals to engage in violence. Officials in some states, including New York, raised security measures out of caution.

In Manila, activists clashed with anti-riot police after they were blocked from holding a demonstration in front of the US embassy in the Philippine capital against Washington’s support for Israel.

International diplomacy backed by the US has so far failed to clinch a ceasefire deal in Gaza. Hamas wants an agreement that ends the war while Israel says fighting can end only when Hamas is eradicated. — Reuters

‘Impossible’ for People’s Republic of China to be our motherland — Taiwan president

Honor guards raise a Taiwanese flag at the Presidential Palace in Taipei, Taiwan Oct. 10, 2023. — REUTERS

TAIPEI — It is “impossible” for the People’s Republic of China to become Taiwan’s motherland because Taiwan has older political roots, the island’s President Lai Ching-te said on Saturday.

Mr. Lai, who took office in May, is condemned by Beijing as a “separatist.” He rejects Beijing’s sovereignty claims, saying that the island is a country called the Republic of China, which traces its origins back to the 1911 revolution that overthrew the last imperial dynasty.

The republican government fled to Taiwan in 1949 after losing a civil war with Mao Zedong’s communists who set up the People’s Republic of China, which continues to claim the island as its “sacred” territory.

Speaking at a concert ahead of Taiwan’s national day celebrations on Oct. 10, Mr. Lai noted that the People’s Republic had celebrated its 75th anniversary on Oct. 1, and in a few days it would be the Republic of China’s 113th birthday.

“Therefore, in terms of age, it is absolutely impossible for the People’s Republic of China to become the ‘motherland’ of the Republic of China’s people. On the contrary, the Republic of China may be the motherland of the people of the People’s Republic of China who are over 75 years old,” Mr. Lai added, to applause.

“One of the most important meanings of these celebrations is that we must remember that we are a sovereign and independent country,” he said.

China’s Taiwan Affairs Office did not answer calls seeking comment outside of office hours.

Chinese President Xi Jinping, in a speech on the eve of his country’s national day, reiterated his government’s view that Taiwan was its territory.

Mr. Lai, who will give his own keynote national day address on Oct. 10, has needled Beijing before with historical references.

Last month, Mr. Lai said that if China’s claims on Taiwan were about territorial integrity then it should also take back land from Russia signed over by the last Chinese dynasty in the 19th century. — Reuters

Dubai’s Emirates Airlines bans pagers, walkie-talkies after Lebanon attacks

PAGERS on display at a meeting room at the Gold Apollo company building in New Taipei City, Taiwan, Sept. 18, 2024. — REUTERS

DUBAI — Dubai’s Emirates Airlines has banned passengers from carrying pagers and walkie-talkies on its flights, following last month’s attacks on Lebanese group Hezbollah involving communication devices that exploded.

“All passengers traveling to, from, or via Dubai are prohibited from transporting pagers and walkie-talkies in checked or cabin baggage,” the airline said in a statement on its website on Friday. It added that any prohibited items found will be confiscated by Dubai Police as part of heightened security measures.

In the deadly September attacks, thousands of booby-trapped Hezbollah pagers and hundreds of radios exploded — attacks that were widely blamed on Israel but which it has not claimed.

The Middle East’s largest airline also announced that flights to Iraq and Iran will remain suspended until Tuesday, while services to Jordan will resume on Sunday.

Flights to Lebanon will remain suspended until Oct. 15 due to escalating Israeli attacks against Iran-backed Hezbollah, including strikes near Beirut’s airport.

Several other airlines have also suspended flights to Beirut and other regional airports amid heightened tensions. — Reuters

US officials struggle to quash Hurricane Helene conspiracy theories

STOCK PHOTO | Image by memyselfaneye from Pixabay

IN THE WAKE of the devastation of Hurricane Helene in the United States this week, a new storm emerged on social media — false rumors about how disaster funds have been used, and even claims that officials control the weather.

Local and national government officials say they are trying to combat the rumors, including one spread by Republican presidential candidate Donald Trump.

One of the more far-fetched rumors is that Helene was an engineered storm to allow corporations to mine regional lithium deposits. Others accuse the administration of President Joseph R. Biden of using federal disaster funds to help migrants in the country illegally, or suggest officials are deliberately abandoning bodies in the cleanup.

Republican Congress member Marjorie Taylor Greene posted on X Thursday night: “Yes they can control the weather. It’s ridiculous for anyone to lie and say it can’t be done.”

The conspiracy theories come at a pivotal time for rescue and recovery efforts following the storm, one of the deadliest US hurricanes this century. And the presidential election between Mr. Trump and Vice-President Kamala Harris is just over a month away.

Republicans and Democrats alike say the rumors are causing problems.

“I just talked to one Senator that has had 15 calls TODAY about why we don’t stop… ‘fill in the blank,’” said Kevin Corbin, a Republican in the North Carolina Senate — a state that is one of the hardest hit by Helene. “98% chance it’s not true and if it is a problem, somebody is aware and on it,” he wrote on Facebook.

“I’m growing a bit weary of intentional distractions,” he added.

White House officials on Friday accused some Republican leaders and conservative media of intentionally peddling rumors to divide Americans in a way that could harm disaster relief efforts.

“Disinformation of this kind can discourage people from seeking critical assistance when they need it most,” a White House memo said. “It is paramount that every leader, whatever their political beliefs, stops spreading this poison.”

The memo highlighted a claim by Mr. Trump during a rally this week that Biden and Harris had used federal emergency funds “on people that should not be in our country.”

“This is FALSE,” the memo said. “No disaster relief funding at all was used to support migrants housing and services. None. At. All.”

In response to a request for comment for this article, the Trump campaign repeated accusations that Federal Emergency Management Agency (FEMA) funds had been spent on housing migrants in the country illegally.

The  FEMA has the funds for immediate response and recovery efforts for Helene, the White House memo said, and has provided millions of dollars in relief to those recovering.

FEMA has been the target of so many falsehoods it has set up a rumor response page on its website to try to tamp them down.

Helene slammed into Florida a week ago and has killed over 200 people and devastated a half dozen states in the US Southeast.

Some officials are trying to combat the disinformation themselves on social media. Katie Keaotamai, who works at FEMA but said she was speaking on social media in a personal capacity, explained FEMA’s disaster response processes in several TikTok posts with thousands of views.

Disaster events are often politicized, said Kate Starbird, co-founder of the Center for an Informed Public at the University of Washington, adding that social media rewards “sensationalism and outrage with attention.”

“Manipulating the sensemaking process (e.g. spreading conspiracy theories and disinformation) and politicizing the event will both make it harder to respond and recover now — and to make informed decisions about how to prepare for and mitigate the next one,” Ms. Starbird said. — Reuters

HUAWEI WATCH GT 5 Pro: Pro-level golf performance, even for hobbyists

Golf can be intimidating, especially for beginners looking to try the sport. Aside from looking for affordable and available courses, the sport requires precision, skill, technique, and stamina that even seasoned athletes find difficult to master. Luckily, HUAWEI’s latest innovation provides golf players, beginners, and hobbyists the tools they need to improve their game and perform like pros.

The global tech giant recently launched the HUAWEI Watch GT 5 Pro, its newest line of smartwatches perfect for fitness enthusiasts, golfers, and fashionistas seeking advanced health monitoring, performance tracking, and stylish design.

HUAWEI’s latest innovation is available in two sizes — 46mm and 42mm — each showcasing its own distinctive design and aesthetic that caters to various preferences. Furthermore, customers can choose ​​from a variety of stylish watch faces, from the visually appealing Blooming Brilliant to Activity Rings for active users, that complement their personal tastes and attires.

Boasting a sleek, modern design that complements any outfit, the smartwatch also features sapphire glass, an AMOLED display, and the world’s first aerospace-grade titanium alloy links and straps for superior durability. HUAWEI smartwatch’s iconic octagon look also makes its much-awaited return revamped with a rotating crown and a metallic angular look.

HUAWEI’s GT 5 Pro is also scratch-resistant, water-resistant, and the first in the industry to boast IP69K certification for maximum protection under all weather conditions. The IP69K certification is part of the Ingress Protection rating system which means that the device is designed to withstand harsh environments that involve regular exposure to water, dust, and debris.

Beyond its design and durability, the new smartwatch is engineered to enhance the golfing experience with a range of specialized features tailored for players of all skill levels.

Before swinging into the fairways, golfers can prepare and gameplan through the smartwatch’s 3D course preview feature on the smartwatch. The GT5 Pro supports more than 15,000 golf courses worldwide and over 100 courses in the Philippines and maps out their greens, fairways, and bunkers allowing users to strategize ahead of the game. 

During play, HUAWEI Watch GT 5 Pro’s Real-Time GNSS-Based Distance Measurement accurately shows a player’s distance from the front, center, and back of the green, as well as from obstacles in the course. In addition, the smartwatch’s Real-Time Environmental Information Display and new Heat Map provide essential data on green direction, wind speed, wind direction, and slope making it easier for golfers to adjust their shots.

Additionally, the smartwatch’s Scorecard Operations feature allows users to record their putts and check their scores after finishing a half round of nine holes through the device’s Half Scoring Report. This gives players the convenience of checking their scores, saving progress, adjusting their strategies, and improving their performance in the second half of their round. 

For beginners looking to better their games, the HUAWEI Watch GT5 Pro’s specialized Golf Mode can act as a personal coach on the wrist with over 100 workout modes. One of these is the “Driving Range Mode” which detects the backswing time, downswing time, swing tempo, and swing speed, during swing practices at the driving range giving beginners and golfers looking to improve valuable insights to refine their technique.

Having played using the GT5 Pro on the golf course, players will appreciate its 44-53 gram lightweight design and comfortable straps, which remain unobtrusive as they swing their bats. In addition, the smartwatch’s intuitive interface provides seamless navigation between features while walking to the next hole and its AMOLED display ensures clear visibility even under bright sunlight proving the smartwatch’s usability for golfers of all levels.

Other sports features of the HUAWEI Watch GT 5 Pro include its 5ATM water resistance and diving capabilities that enable freediving of up to 40 meters. Similarly, the smartwatch’s Trail Running Navigation and Track Return feature provides accurate route navigation to ensure that runners in complex cross-country environments can easily perform to their best ability. Likewise, the GT5 Pro’s convenient and safety-focused features share various essential indicators in real time during bike rides turning the smartwatch into an On-Wrist Cycling Guide.

To further its claim as the industry’s top smartwatch, the GT 5 Pro is packed with a suite of health features that cater to physical and mental health. HUAWEI’s newest product has health monitoring functions that measure the user’s electrocardiogram, oxygen saturation, and heart rate as well as detect sleep apnea, to ensure peak condition. Meanwhile, the smartwatch also introduces the HUAWEI TruSense System, which provides real-time health stats, keeping users informed even during busy schedules.

Secure your HUAWEI Watch GT5 Series through Shopee, Lazada, TikTok, HUAWEI Online Store or any HUAWEI Experience Stores, and receive a complimentary HUAWEI FreeBuds 5i, valued at P3,599, as well as an additional one-year warranty extension (for online purchase only). Take advantage of special 0% installment offers, available for up to six months via SPayLater on Shopee or LazPayLater on Lazada, and up to 24 months for credit card purchases at HUAWEI Experience Stores nationwide.

With Home Credit, you can own the HUAWEI Watch GT5 Series for as low as P505.50 per month for up to 18 months, with 0% interest, by paying a 30% down payment. Additionally, customers can trade in their old HUAWEI devices and receive a P2,000 trade-in token at select HUAWEI Experience Stores.

 

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EU governments face pivotal vote on Chinese EV tariffs

A EUROPEAN UNION’S flag flutters outside the European Commission headquarters in Brussels, Belgium, Oct. 15, 2020. — REUTERS

BRUSSELS – European Union members face a pivotal vote on Friday on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles in the bloc’s highest profile trade case, which risks retaliation from Beijing.

The European Commission, which oversees the bloc’s trade policy, proposed final duties for the next five years to counter what it sees as unfair Chinese subsidies after a year-long anti-subsidy investigation.

The EU’s proposal can be blocked if a qualified majority of 15 EU members, representing 65% of the EU population, vote against it. But that is a high hurdle.

Reuters reported on Wednesday that France, Greece, Italy and Poland would vote in favor, enough to avert a blocking majority against tariffs.

In the absence of a qualified majority either way, the EU executive can adopt the tariffs. However, it could also submit an amended proposal if it wanted to secure greater backing.

The region’s top economy and major car producer, Germany, will vote against the introduction of tariffs, people with knowledge of the matter told Reuters late on Thursday. It had abstained in the first non-binding vote on the proposal in July.

German carmakers, for which China represents almost a third of their sales, have been particularly vocal against tariffs. Volkswagen said they were “the wrong approach”.

While that rejection will not derail the result on Friday, the toughening stance highlights Brussels’ challenge in building support for its trade case, potentially forcing the Commission to carry out a second vote and consider possible compromises.

The economy minister in Spain, a previous tariff backer, also said in a letter to European Commission Vice President Valdis Dombrovskis, seen by Reuters on Thursday, that instead of imposing tariffs, the EU should “keep negotiations open… beyond the binding vote” to strike a deal on prices as well as the relocation of battery production to the bloc.

Spanish Prime Minister Pedro Sanchez had already said on a visit to China that the EU should reconsider its position. – Reuters

 

 

 

Some EU members are nervous about Beijing’s response. In moves seen as a retaliation, Beijing this year launched its own probes into imports of EU brandy, dairy and pork products.

Hungarian Prime Minister Viktor Orban warned on Friday that the EU was headed for an “economic cold war” with China

However, the EU’s stance towards Beijing has hardened in the past five years, now viewing China as a potential partner in some issues, but also as a competitor and a systemic rival.

 

 

 

The Commission says China’s spare production capacity of three million EVs per year, which needed to be exported, is twice the size of the EU market. Given 100% tariffs in the United States and Canada, the most obvious outlet for those EVs is Europe.

The EU executive has said it is willing to continue negotiating an alternative to tariffs with China and could re-examine a price undertaking – involving a minimum import price and typically a volume cap – having previously rejected those offered by Chinese companies.

One option under negotiation is minimum import prices calculated using criteria such as the range, battery performance and length of the EV, along with whether it is two- or four-wheel drive, a source familiar with the matter said.

The tariffs range from 7.8% for Tesla TSLA.O to 35.3% for SAIC 600104.SS and other companies deemed not to have cooperated with the EU investigation. These tariffs are on top of the EU’s standard 10% import duty for cars.

Kenya asks IMF to review corruption issues after Western push

THE International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S. — REUTERS

NAIROBI – Kenya’s government has asked the International Monetary Fund to conduct an official assessment of corruption and governance issues, the IMF told Reuters, after a push by Western nations.

Kenya has struggled with debt that has reached precarious levels in recent years, and its withdrawal of proposed tax hikes earlier this year – following deadly protests – complicated its efforts to unlock a $600 million disbursement from the IMF.

Countries themselves must request the so-called “governance diagnostic”, which investigates whether corruption and governance vulnerabilities are draining revenue or creating other problems in state finances.

“We have received a governance diagnostics request from the authorities,” an IMF spokesperson said in response to written questions.

“The government of Kenya aims to strengthen its governance and anti-corruption policies. They intend to utilize these diagnostics to enhance public spending efficiency, boost competitiveness, foster growth, and reduce poverty in an inclusive manner.”

One source familiar with the situation said the assessment, while not directly linked to the disbursement, would be a show of goodwill in the country’s efforts to get its finances back on track.

Perceived government waste and corruption were a core driver of mass demonstrations in June that forced President William Ruto to withdraw $2.7 billion in planned tax increases.

Kenya’s finance ministry did not respond to requests for comment.

Reuters on Tuesday first reported that Western nations were pushing for the IMF assessment. – Reuters

Philippines aware of incident in South China Sea between Vietnam, China

PHILEMBASSY.NO

MANILA – The Philippines’ foreign ministry said on Friday it was aware of what it described as a “serious incident” between Vietnamese fishermen and Chinese maritime authorities late last month.

“The Philippines has consistently denounced the use of force, aggression and intimidation in the South China Sea, and emphasized the need for actors to exercise genuine self-restraint,” the foreign ministry said in a statement. – Reuters

Inflation falls below 2% for first time in over four years

Workers unload sacks of premium rice from a trailer truck in Caloocan City, Oct. 3. PHOTO BY MIGUEL DE GUZMAN, The Philippine Star

By Luisa Maria Jacinta C. Jocson, Reporter

Headline inflation sharply slowed to an over-four year low in September as food and transport costs declined, giving the Philippine central bank space for further policy easing.

The consumer price index (CPI) slowed to 1.9 % year on year in September from 3.3% in August and 6.1% a year ago, the Philippine Statistics Authority (PSA) reported on Friday.

This was below the Bangko Sentral ng Pilipinas’ (BSP) 2%-2.8% forecast for the month. It was also lower than the 2.5% median estimate yielded in a BusinessWorld poll of 15 analysts conducted last week.

Inflation rates in the Philippines

The September print was the slowest in over four years (52 months) or since the 1.6% print in May 2020.

In the first nine months, headline inflation averaged 3.4%, which is also the central bank’s full-year forecast.

Core inflation, which excludes volatile prices of food and fuel, eased to 2.4% in September from 5.9% a year ago. Core inflation averaged 3.1% in the January-September period.

National Statistician Claire Dennis S. Mapa said slower inflation was driven mainly by the heavily weighted food and non-alcoholic beverages index, which decelerated to 1.4% in September from 3.9% a month earlier and 9.7% a year ago.

The index accounted for a 69.1% share to the downtrend in inflation, he added.

Broken down, food inflation slowed to 1.4% from 4.2% in August and 10% in the previous year.

Cereals and cereal products, which includes rice, was one of the main contributors to this slowdown, easing to 4.9% from 11.5% a month ago and 14.1% a year prior.

Rice inflation sharply slowed to 5.7% in September from 14.7% in August and 17.9% last year. This also marked the lowest rice inflation since the 4.2% print in July 2023.

Mr. Mapa said the lower rice prices were due to base effects and the impact from the tariff cut on rice imports.

An executive order, which slashed tariffs on rice imports to 15% from 35% until 2028, took effect in July.

“There are decreases month-on-month since July. We are seeing a drop in the nominal price, but not substantial,” he added.

PSA data showed that the average price of regular milled rice dropped to P50.47 per kilogram in September from P50.90 in July; while well milled rice declined to P55.51 per kilo from P55.85 in July. The average price of special rice decreased to P64.05 from P64.42 in July.

The vegetables, tubers, plantains, cooking bananas and pulses index also contributed to lower food inflation, as it sharply contracted by 15.8% in September from the 4.3% decline a month ago.

Meanwhile, transport inflation posted a faster annual decline at 2.4% in September from the 0.2% drop in August.

Diesel inflation contracted by 19.6% from the 8.4% decline a month prior while gasoline inflation fell to 13.8% from the 5.8% decrease in August.

In September, pump price adjustments stood at a net decrease of P0.95 a liter for gasoline, P2.10 for diesel and P2.35 for kerosene.

Mr. Mapa also noted slower inflation in the housing, water, electricity, gas and other fuels index, which eased to 3.2% in September from 3.8% a month ago.

This was primarily due to liquefied petroleum gas prices, which eased to 10% from 17% in August.

Despite a hike in power rates in Metro Manila, electricity inflation slowed to 2.5% from 3.2% a month ago. Manila Electric Co. (Meralco) raised the overall rate by P0.1543 per kilowatt-hour (kWh) to P11.7882 per kWh in September from P11.6339 per kWh in the previous month.

Meanwhile, PSA data showed the inflation rate for the bottom 30% of income households slowed to 2.5% in September from 4.7% in August and 6.9% a year prior.

In the nine months to September, the inflation rate for the bottom 30% averaged 4.6%.

In the National Capital Region (NCR), inflation eased to 1.7% in September from 6.1% a year earlier. Inflation in areas outside NCR averaged 2%, also much slower than 6% a year ago.

MORE SPACE FOR POLICY EASING
National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said that inflation is expected to further ease in the coming months.

“The continued slowdown in inflation is expected to boost consumer confidence, driving higher spending and consumption and fueling business expansion,” he said in a statement. “Additionally, easing food prices will relieve low-income households, enabling them to allocate more to other essential needs such as education and health.”

Finance Secretary Ralph G. Recto said that full-year inflation may settle at 3.2% as the decline in rice prices becomes more pronounced in the next few months.

Global rice prices are expected to go down after India’s decision to lift its export ban on non-basmati white rice.

“The relatively slower and easing trend in inflation could be sustained, though with slight upticks to 2% levels, barring geopolitical risks and adverse weather conditions, in view the seasonal increase in demand towards the end of the year in view of increased holiday-related spending,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in an email.

Pantheon Macroeconomics in an email note said that inflation may pick up slightly in the coming months.

“This extremely favorable drag on food — and, by extension, headline — inflation will reverse partially in the October report, sending the latter back into the BSP’s 2-to-4% target range, albeit only a touch above the lower bound, where we expect it to remain for the foreseeable future,” Pantheon Macroeconomics said.

BSP Governor Eli M. Remolona, Jr. told Bloomberg on Thursday that inflation is expected to settle firmly within the 2-4% target band this year.

He also said that the central bank will likely deliver rate cuts in increments of 25 basis points (bps).

The BSP chief said that there is a chance for a 25-bps cut at the Monetary Board’s Oct. 16 policy review, followed by another on its last meeting for the year on Dec. 19.

Mr. Recto said that the latest inflation print now gives the central bank space to further reduce policy rates.

“This gives the BSP more room to be aggressive in its monetary policy easing to help the economy grow at a faster rate and support the government in increasing its revenue collections,” he said.

Pantheon likewise said that the lower-than-anticipated September print “effectively guarantees another BSP cut this month.”

“In terms of monetary policy, we continue to believe that the Board will cut by a further 25 bp at its meeting this month, before stepping up the pace of easing to 50 bp each time from December until the target reverse repo rate falls to a terminal level of 4.00%,” it said.

Mr. Ricafort said that the BSP could possibly cut rates by 50 bps at its October meeting to match the latest Fed cut.

DBP ramps up CSR initiatives

State-owned Development Bank of the Philippines (DBP) has intensified its corporate social responsibility (CSR) efforts by partnering with the Department of Education (DepEd) to expand its assistance to public schools especially those located in low-income areas, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said that the Bank has disbursed over P4 milion for the DepEd’s Adopt-a-School Program (ASP).

“DBP has stepped up its CSR initiatives in solidarity with President Ferdinand Marcos, Jr.’s vision of enhancing the inclusive quality of education,” Mr. de Jesus stated. “Through these recent efforts, DBP has been able to reach far-flung areas and aid the poor and underprivileged students in the country.”

DBP is the 10th largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy — infrastructure and logistics; micro, small, and medium enterprises; environment; and social services and community development.

The ASP was established by virtue of Republic Act No.8525 or “Adopt-a-School Act of 1988” which aims to improve the quality of education in the country by addressing the shortage of resources in public schools.

Mr. de Jesus said under the ASP, the DBP has released a total of P4 million to eight partner schools nationwide such as Saguday National High School in Quirino; Balud National High School in Masbate; Beniton Integrated School — Bontoc 1 in Southern Leyte; Sultan Mamarinta Panandigan Integrated School in Iligan City, Lanao Del Norte; B.A. Calamba National High School in Cotabato; Lintugop National High School in Zamboanga Del Sur; and Samboan National High School and Argao National High School in Cebu.

He said the DBP’s financial assistance was used in the procurement of computers, installation of stable internet connection, distribution of learning equipment, and improvement of facilities.

“DBP would closely coordinate and collaborate with other government agencies to look for ways to maximize support to disadvantaged sectors and at the same time, promote social inclusion and drive positive change,” Mr. de Jesus said.

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Inflation surprise backs Philippine central banker’s easing plan

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona — BLOOMBERG

The Philippines will likely use quarter-point moves to slash its benchmark interest rate by around 175 basis points through 2025, according to Governor Eli Remolona, as a shock slowing of inflation backed his case for further easing.

A 25 basis-point cut is on the cards for the Oct. 16 policy meeting, followed by a reduction of the same size in December, Mr. Remolona said in an interview Thursday. The Bangko Sentral ng Pilipinas is unlikely to resort to half-point cuts unless the nation’s economic growth “turns out to be worse than we thought,” he added.

“If the data are as we expect, then you would have the normal easing, which is small steps at a time, baby steps,” Mr. Remolona said.

He made the comments a day before government data showed September inflation easing to a four-year low at 1.9%. The latest print was below the BSP’s projection and the median estimate in a Bloomberg survey of analysts.

The slowdown was largely due to smaller gains in food prices, with rice inflation easing to 5.7%, the lowest since July last year, helped by lower import tariffs, the statistics agency said.

Mr. Remolona said he sees the key rate declining from 6.25% now to around 4.5% by the end of 2025, a level that will support the economy. Inflation is projected to firmly settle within the BSP’s 2%-4% target this year, he added.

Unlike the Federal Reserve, which delivered a 50-basis point cut when it began easing last month, Mr. Remolona kicked off the Philippines’ easing cycle in August with just a quarter-point cut. He sees the Fed cutting by a cumulative 75 basis points for the rest of the year, but signaled that the BSP doesn’t have to match these moves.

The BSP is unwinding its most aggressive monetary tightening in two decades, which had brought the policy rate to a 17-year high. The focus now is on the size and pace of future rate cuts, especially after the Fed’s outsize move.

The central bank has said its shift to a less restrictive monetary policy stance will be “calibrated” and “measured.” Finance Secretary Ralph Recto, a member of the rate-setting board, is however pushing for a more aggressive half-point move.

The possibility of below-target economic growth next year and ebbing consumption also provides the BSP impetus to sustain its easing cycle. The central bank recently slashed the reserve requirement ratio to 7% for big lenders, pulling another lever to support the economy.

The next cut in the RRR will likely happen next year, Mr. Remolona said. “We’re in no rush to reduce it even more,” he said, adding that a move sooner could stimulate the economy “too much.” — Bloomberg

[B-SIDE Podcast] How to master content creation and algorithm changes

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With the rise of influencers online and constant change in trends, it is hard to always stay relevant in the viewers’ eyes.

In this B-Side episode, Patty of ‘Masarap Ba?’ reveals her secret to mastering algorithm changes and other techniques to succeed in content creation.

Interview by Almira Martinez
Audio editing by Jayson John D. Mariñas

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