MANCHESTER, England — Tottenham Hotspur’s Brennan Johnson, Dejan Kulusevski and Dominic Solanke got on the scoresheet in a 3-0 victory over 10-man Manchester United in the Premier League on Sunday as the visitors ran roughshod over the bedraggled Old Trafford side.
Ange Postecoglou’s Spurs climbed to eighth in the table on 10 points after six games, while beleaguered United, who saw captain Bruno Fernandes sent off in the 42nd minute for a high challenge on James Maddison, are 12th with seven points in a loss that will again raise questions about manager Erik ten Hag.
Tottenham went ahead in the third minute when defender Micky van de Ven carried the ball over half the length of the pitch before playing a low centre across the six-yard box for the wide open Johnson to tap in for his fourth goal in four games.
“Eleven v 11, or 11 v 10, we completely dominated the game,” Johnson said. “We had a clear game plan and we did exactly what we wanted to do.”
Spurs continued to run circles around United on a nightmare evening for Dutchman Ten Hag in rainy Manchester.
“To concede a goal after two or three minutes like that, it did something to our belief,” he said. “Totally unnecessary. — Reuters
HONG KONG/SINGAPORE — Cross-border mergers and acquisitions (M&A) involving companies in the Asia-Pacific region have recovered this year and are booming in Japan as businesses seek new growth after adjusting to cope with higher interest rates.
The total announced value of such deals rose 25% year on year to $286 billion as of Sept. 30, LSEG data showed, with around 80% of them transacted with an entity outside the region.
“There has been a notable pick-up in cross-border transactions as political stability returned to some markets just as pent-up demand for investments and dealmaking and adjustments to higher interest rates began to drive M&A activity again,” said Andre Gan, a M&A partner at Wong & Partners, a member law firm of Baker McKenzie in Kuala Lumpur.
Overall, Asia M&A totaled $622 billion in the first nine months of the year, down 0.2% from the same period in 2023, LSEG data showed.
The cross-border recovery was partly boosted by a number of mega-deals, including Canadian firm Alimentation Couche-Tard’s $38.5-billion all-cash takeover bid for Japanese convenience store owner Seven & i Holdings, the largest announced M&A deal globally this year.
Rupert Murdoch-controlled Australian firm REA Group has also been bidding aggressively for British real estate portal Rightmove, having sweetened its offer to $8.3 billion after three previous proposals were rejected.
Japan is going to drive the region’s multibillion-dollar deals, bankers said, as relaxed corporate governance rules have made its public companies more open to takeovers, while some of the local champions are seeking to expand overseas.
Japan inbound M&A surged more than 16-fold so far this year to a record $74 billion, while outbound deals were up 49% to $50 billion, LSEG data showed.
Texas-headquartered real estate investor Hines, which owned and operated $93 billion worth of assets as of June 30, is actively looking for opportunities globally including Asia, its Asia Chief Investment Officer Ng Chiang Ling told Reuters last month.
Having acquired some assets in Japan and Singapore this year, Hines also sees opportunities in Australia, Ms. Ng said.
In Southeast Asia, cross-border transactions are picking up. German insurer Allianz announced in July that it was planning to buy a majority stake in Singapore’s Income Insurance for about $1.6 billion to strengthen its foothold in Asia.
“Looking forward, 50% of the APAC pipeline is made up of global cross-border transactions,” said Rohit Satsangi, Deutsche Bank’s co-head of M&A, Asia Pacific.
Mr. Satsangi said he expected a resurgence of outbound activity by state-owned companies in China that are searching for renewable and natural resources assets globally.
A bounce in China would be welcomed by dealmakers. China outbound deals totaled $14 billion so far this year, down 8% year-on-year and were at the second-lowest level in the last decade, LSEG data showed.
Wong & Partners’ Gan said the overall outlook for M&A in the region was expected to improve, including for deals that did not cross borders.
“Heading into 2025 and 2026, considering the recent easing of interest rates by the US Fed and conclusion of the US elections in late 2024, we expect continuing stability to lead to a resurgence of M&A activity,” he said. — Reuters
BEIJING/SHANGHAI — Chinese tourists are expected to take longer trips than last year during the Golden Week holiday that kicks off on Tuesday, but that will not necessarily lead to a bump in spending, travel industry experts said.
With the economy slowing and consumer confidence hovering just above historic lows, they expect many travelers over the week-long National Day break will opt for cheaper domestic or short-haul overseas destinations and take advantage of a decline in airfares.
The holiday period has traditionally produced peak numbers of Chinese traveling, especially abroad given the length of the break. This year, the government has forecast the daily average number of trips handled by the nation’s transport sector will rise only 0.7% year-on-year.
“It would be a good result if tourism spending remains flat with last year,” said Liu Simin, an official with the tourism arm of Beijing-based research institute China Society for Futures Studies. “People are more willing to travel when the economy is good, but when there is no economic growth, there is no tourism growth.”
Wang Xin, an office worker in Beijing, said she would drive with family to Yangzhou, a city near Shanghai known for its lakes, gardens and fried rice.
“There is no toll fee during holiday so we’ll drive instead of taking the train,” the 45-year-old said. “Better not to spend unnecessary money when the economy is like this. Many people are losing jobs and at my age if it happened to me, I wouldn’t be able to find another one.”
Before the pandemic, her family’s Golden Week destinations had included Singapore and the United States.
FALLING AIRFARES Data from travel platform Flight Master shows domestic air ticket prices are expected to be 21% cheaper than the same period last year, while international economy class airfares will be 25% lower than 2023 and 7% lower than 2019.
It predicts international destinations of choice for outbound travelers will continue to be short-haul Asian hubs, such as Japan, South Korea, Thailand and Singapore.
Trip.com, China’s largest online travel agency, also said the top destinations were in Asia, but it had seen a significant shift toward long-haul destinations like Australia, New Zealand, Britain and France this year with longer stays.
“Travelers will likely take advantage of lower ticket prices to travel further, stay longer and upgrade to a higher starred hotel,” HSBC analysts said in a note.
While last week’s large-scale stimulus may have some impact on spending, it would likely be limited, the analysts said, predicting purchases were likely to meet but not exceed 2023 levels for the holiday period.
Some foreign airlines such as British Airways and Qantas Airways have cut or halted China flights this year amid insufficient demand as well as fierce price competition from local carriers.
AirAsia Philippines this month announced it would stop flights between Manila and China by the fourth quarter, with its CEO quoted in local media saying China’s 30% share of its traffic in 2019 had fallen to just 2% this year.
AirAsia did not respond immediately to a request for comment.
There are, however, exceptions. Korean Air Lines said regional travel demand was improving and this month announced the launch or re-introduction of several routes to and from China. — Reuters
LONDON — Britain will become the first Group of Seven (G7) country to end coal-fired power production with the closure on Monday of its last plant, Uniper’s Ratcliffe-on-Soar in England’s Midlands, finally ending over 140 years of coal power.
In 2015, Britain announced plans to close coal plants within the next decade as part of wider measures to reach its climate targets. At that time, almost 30% of the country’s electricity came from coal but this had fallen to just over 1% last year. “The UK has proven that it is possible to phase out coal power at unprecedented speed,” said Julia Skorupska, Head of the Powering Past Coal Alliance secretariat, a group of around 60 national governments seeking to end coal power.
The drop in coal power has helped cut Britain’s greenhouse gas emissions, which have more than halved since 1990.
Britain, which has a target to reach net zero emissions by 2050, also plans to decarbonize the electricity sector by 2030, a move which will require a rapid ramp-up in renewable power such as wind and solar.
“The era of coal might be ending, but a new age of good energy jobs for our country is just beginning,” energy minister Michael Shanks said in an e-mailed statement.
Emissions from energy make up around three quarters of total greenhouse gas emissions and scientists have said that the use of fossil fuels must be curbed to meet goals set under the Paris climate agreement.
In April, the G7 major industrialized countries agreed to scrap coal power in the first half of the next decade, but also gave some leeway to economies who are heavily coal-reliant, drawing criticism from green groups.
“There is a lot of work to do to ensure that both the 2035 target is met and brought forward to 2030, particularly in Japan, the US, and Germany,” said Christine Shearer, Research Analyst, Global Energy Monitor.
Coal power still makes up more than 25% of Germany’s electricity and more than 30% of Japan’s power. — Reuters
BEIRUT — Palestinian militant group Hamas said an Israeli strike killed its leader in Lebanon on Monday, while another Palestinian militant group said three of its leaders were killed in a strike on Beirut, the first attack within the city limits.
Hamas said its leader in Lebanon, Fateh Sherif Abu el-Amin was killed, along with his wife, son, and daughter, in a strike that targeted their house in a Palestinian refugee camp in the southern city of Tyre in the early hours of Monday.
As Israel escalates hostilities against Iran’s allies in the region, the Popular Front for the Liberation of Palestine (PFLP) said three of its leaders were killed in a strike that targeted Beirut’s Kola district.
The strike hit the upper floor of an apartment building, Reuters witnesses said.
There was no immediate comment from Israel’s military.
Israel’s increasing frequency of attacks against the Hezbollah militia in Lebanon and the Houthi militia in Yemen have prompted fears that Middle East fighting could spin out of control and draw in Iran and the United States, Israel’s main ally.
The PFLP is another militant group taking part in the fight against Israel.
Israel on Sunday launched airstrikes against the Houthi militia in Yemen and dozens of Hezbollah targets throughout Lebanon after earlier killing the Hezbollah leader.
The Houthi-run health ministry said at least four people were killed and 29 wounded in airstrikes on Yemen’s port of Hodeidah, which Israel said were a response to Houthi missile attacks. In Lebanon, authorities said at least 105 people had been killed by Israeli air strikes on Sunday.
Lebanon’s Health Ministry has said more than 1,000 Lebanese have been killed and 6,000 wounded in the past two weeks, without saying how many were civilians. The government said a million people — a fifth of the population — have fled their homes.
The intensifying Israeli bombardment over two weeks has killed a string of top Hezbollah officials, including its leader Sayyed Hassan Nasrallah.
Israel has vowed to keep up the assault and says it wants to make its northern areas secure again for residents who have been forced to flee Hezbollah rocket attacks.
Israeli drones hovered over Beirut for much of Sunday, with the loud blasts of new airstrikes echoing around the Lebanese capital. Displaced families spent the night on benches at Zaitunay Bay, a string of restaurants and cafes on Beirut’s waterfront.
Many of Israel’s attacks have been carried out in the south of Lebanon, where the Iran-backed Hezbollah has most of its operations, or Beirut’s southern suburbs.
Monday’s attack in the Kola district appeared to be the first strike within Beirut’s city limits. Syrians living in southern Lebanon who had fled Israeli bombardment had been sleeping under a bridge in the neighborhood for days, residents of the area said.
The United States has urged a diplomatic resolution to the conflict in Lebanon but has also authorized its military to reinforce in the region.
US President Joseph R. Biden, asked if an all-out war in the Middle East could be avoided, said “It has to be.” He said he will be talking to Israeli Prime Minister Benjamin Netanyahu. — Reuters
The Philippine Commission on Audit (CoA) was voted as a member of the Asian Organization of Supreme Audit Institutions (ASOSAI) Governing Board in New Delhi, India.
The 16th Assembly of the ASOSAI gathered key representatives from across Asia to discuss important audit issues and set the direction for the organization. The ASOSAI is a key regional entity under the International Organization of Supreme Audit Institutions (INTOSAI).
Founded in 1979 with 11 members, the ASOSAI has since grown to include 47 Supreme Audit Institutions (SAIs) from across Asia.
CoA Commissioner Roland Café Pondoc, who headed the Philippine delegation to the Assembly, said that being elected as a member of the ASOSAI GB is one of the highlights of the Assembly, which involved filling seven vacant posts for the GB.
Other countries elected to the GB together with the Philippines were Azerbaijan, Kazakhstan, Korea, Malaysia, Pakistan and the United Arab Emirates.
The CoA’s participation in the ASOSAI Assembly reflects its dedication and commitment to upholding international auditing standards and promoting collaboration.
The CoA also serves as the incumbent Chair of the ASEAN Supreme Audit Institutions (ASEANSAI) and the INTOSAI Working Group on Public Debt.
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Acumen's Marketing Leaders Academy provides a highly customized training program that unlocks the potential of your marketing teams.
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Acumen’s Marketing Leaders Academy has been run multiple times within top-tier companies in different sectors, including branded food and beverage, food processing, alcoholic beverages, and telecommunications, among others. For these companies, Acumen is more than an external training provider — it’s a partner working side-by-side, hand-in-hand, shoulder-to-shoulder to transform them towards higher levels of performance.
CUSTOMIZED BY EXPERTS
No Acumen program can begin without first undertaking a rigorous discovery process to diagnose the current state of the client’s business, organization, market and consumer.
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What if the team’s marketing competencies are not well-articulated, or simply outdated? Acumen will help identify gaps, sharpen definitions, and create clear delineation between levels through the Acumen Competencies Library that’s comprehensive and customizable to any industry.
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Acumen’s seasoned practitioner-trainers know what a best-in-class brand manager is and ensure that Marketing Leaders Academy participants imbibe the skills and behavior they would require on their own. They are deeply committed to enabling and empowering clients to skillfully do what they do and bring co-created strategies to life. How does Acumen know they’ve succeeded? While other capability-building program providers only measure workshop satisfaction, Acumen goes beyond by providing individualized participant assessments, follow-through recommendations, and a “revalida” — post-training presentations where participants demonstrate actual application of learned skills in their work.
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Develop them from within through a Marketing University — a visible and mutually rewarding commitment to the growth of your people. It’s the secret of some of the best companies in the world, and one of the best things you can do to strengthen your business. — Vanessa Bicomong, Program Director for Customer Centricity, Acumen Strategy Consultants (acumen.com.ph).
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(Standing, L-R) Jocelyn Loo, Executive Sous Chef Neil Ledesma, Executive Chef Gus Mohammed, Jacinto Ng, Jr., Guest-Pastry Chef Ardo Mercado, (seated, from left) Joseph Ray Ng, George Chua, Jonathan Ng, Jacinto Ng, Sr., Anita Ng, and Jacinda Rae Ania Ng
Sustainability comes to the fore in Joy~Nostalg’s special, full-course menu that celebrates its milestone anniversary
It was the quintessential Filipino celebration for five-star serviced hotel Joy~Nostalg Hotel & Suites Manila Managed by Accor, marking a milestone with a fine selection of culinary masterpieces.
In line with the 15th-anniversary celebrations of the hotel at the heart of the Ortigas CBD, Joy~Nostalg welcomed VIP guests and members of the media to the event called “Tapestry of Flavors” on Sept. 18 at The Nostalgia Lounge & Bar. The night’s highlight was a brilliant full-course degustation menu, featuring modern Filipino cuisine as interpreted by the genius of Joy~Nostalg Executive Chef Gulshan “Gus” Mohamed and his team.
“What better way to celebrate 15 colorful years of Joy-Nostalg Hotel & Suites Manila than with an homage to the diverse flavors and textures of Filipino cuisine,” says Odette Huang, General Manager of Joy~Nostalg Hotel & Suites Manila Managed by Accor. “Our culinary team reinterpreted familiar dishes and gave them a modern twist, balancing local ingredients with innovative creations.”
The menu concept went all-in in championing the best the Philippines has to offer. Aside from focusing on flavor and presentation, the dishes featured responsibly-sourced local ingredients, tying in with Joy~Nostalg’s well-established sustainability efforts. The local ingredients include kiniing, or smoked pork from the Kankanaey tribe in the Cordilleras,and budbud, or artisanal sea salt from Iloilo, among others.
According to Huang, Chef Gus and his team were given carte blanche to create a menu that best showcases talent and creativity. The result was a remarkable combination of flavors of the refined selections.
“We tried to incorporate a lot of traditional Filipino raw products that can be categorized as slow food, or products grown in a specific region at a natural pace, without preservatives, without intervention,” Chef Gus said. “It’s a concept that also reflects the journey of Joy~Nostalg, as we celebrate its past of 15 successful years, while paving the way for the future.”
The degustation opened with “Tuna Kinilaw,” a modern take on the classic dish as an imaginative amuse-bouche that set the tone for the entire night. Instead of using the usual calamansi and vinegar, Chef Gus opted for raw mango as the sour agent. He added a bit of passionfruit to introduce a distinct musky flavor and further enhance the already exceptional taste.
The elegant tablescape for Joy~Nostalg’s modern Filipino degustation featured the menu’s local ingredients responsibly sourced from all over the Philippines, reflecting the hotel’s support for the sustainability movement.
Following the dish were the sumptuous back-to-back servings of “Pork and Duck Liver Lumpia,” which used barako espresso dressing, foie gras and kiniing, and langkawas foam and “Mushroom Pastel with Moringa Adlai.”
For the main dishes, eastern culinary practices and ingredients intersected with their western counterparts. The “Slow Cooked Barramundi,” for instance, added an exquisite flavor that elevated the entire menu. The dish came with the sublime paco fern and pili pesto, confit garlic, and smoked quesong puti. Then, the “Kurobuta Pork Belly Lechon” presented the staple dish in any special Filipino gathering in a most unusual form, served with salted egg bibingka, liver sauce, asparagus and carrots.
Rounding out the memorable degustation was another iconic Filipino food, the turon. The deconstructed version involved no frying and no spring roll. Instead, it featured the banana as a mouse, with langka combined with durian to create a cremeux, served with sugar cane ice cream.
L-R: GM Odette Huang, Christine Dayrit and Ryan Ros Calmante, President of PaperLess PR Creative Agency
The menu came with pairings of selected fine wines from around the world, including Azimut Brut Nature from Spain; Peacock Wild Feent Sauvignon Blanc from South Africa; False Bay Crystalline Chardonay from South Africa; and Besoain Pinot Noir from Chile.
Chef Gus and his team take pride in their culinary creations, particularly in using local ingredients in the full-course menu. They put in the time and effort to properly source from the right suppliers whose beliefs align with theirs, from getting fishes that are only line-caught, to fruits that are not imported to minimize carbon emission. Being able to support local suppliers was a nice bonus as well.
Chef Gus promotes sustainability in his personal life. A recent life-changing event prompted him to practice a healthier lifestyle, including making more conscious dietary decisions.
“Once I got into it, I wondered why I hadn’t done this before,” he said. “When you go organic, or start consuming much safer products, it changes your health, your lifestyle, and your perspective in life as well. You become more positive towards life. At work and in life, this is what I believe in.”
L-R: Ivannovich Agote, DOT Laurie Cardeno, Councilor Angelu De Leon, Director Sharlene Batin, DOT Gregorio Limpin IV, Nina Reyes
Aside from celebrating with food, Joy~Nostalg Hotel & Suites Manila will also mark its 15th anniversary with other exciting events. One of which is its annual Christmas Tree Lighting event that will once again take on a deeper meaning by supporting the cause of a nongovernment organization.
“The past 15 vibrant years have always focused on delivering joy to our guests and creating delightful memories,” Huang says. “As part of the Accor family, our talents, called Heartists, embrace the art of hospitality with passion and creativity. What lies ahead is a profound commitment to responsible hospitality, making positive impact on the environment, society and the local community. We’re dedicated to fostering meaningful connections and celebrating diversity as we amplify the vibrant culture of the Philippines.”
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(L-R) Atty. Pedro H. Maniego, Jr., Institute of Corporate Directors Chairman; Atty. Roel A. Refran, PSE EVP and COO; Atty. Marisalve Ciocson-Co, Globe’s Chief Compliance Officer, SVP for Legal and Compliance and Assistant Corporate Secretary; Atty. Emilio B. Aquino, SEC Chairman; Ida Ceniza Tiongson, ICD Vice-Chairperson; and Ma. Victoria C. Españo, ICD Treasurer
Cementing its corporate governance leadership, Globe has secured the prestigious Five Golden Arrow Award from the Institute of Corporate Directors (ICD) this year, the third consecutive time for the company to receive the coveted recognition.
The Golden Arrow Awards are part of the ASEAN Corporate Governance Scorecard (ACGS) program, which evaluates publicly-listed and insurance companies across the ASEAN region on key governance areas such as shareholder rights, equitable treatment, transparency, and board accountability, all essential to maintaining strong corporate governance practices.
Being one of only five publicly-listed companies, and the only telco in the Philippines to receive this honor, underscores Globe’s unwavering dedication to transparency, accountability, and ethical business practices.
The achievement also reflects Globe’s ability to balance the interests of its shareholders and stakeholders while ensuring long-term sustainability in an ever-evolving business landscape.
The Golden Arrow is awarded to companies that scored at least 80 points in the ACGS Assessment across five performance levels. Globe secured the highest level by achieving a score of 120 to 130 points, earning the coveted five-arrow recognition.
“By consistently striving for excellence in governance, Globe has solidified its position as a trusted leader in the industry and a key driver of corporate governance standards across the region. With this latest accolade, we are well-positioned to continue elevating our governance practices, ensuring that Globe remains at the forefront of corporate governance excellence in the Philippines and beyond,” said Atty. Marisalve Ciocson-Co, Globe’s Chief Compliance Officer and SVP for Legal and Compliance.
In attendance at the 2024 awarding ceremony held at the Manila Marriott Hotel were key representatives from Globe’s Legal and Compliance team, including Atty. Ciocson-Co; Atty. Ria Caganda-Vistan, AVP; and Paralegals Grace Opeña and Harriette Martinez.
The event recognized a total of 111 publicly listed companies and 25 insurance companies in the ASEAN region that have exemplified excellence in corporate governance.
Globe’s continued achievement in the Golden Arrow Awards aligns with its efforts to comply with the Philippine Code of Corporate Governance and international best practices in governance.
This year, Globe also received an MSCI ESG Rating of “AA” for the second consecutive time, reflecting its Environment, Social, and Corporate Governance (ESG) leadership in the telecom industry. MSCI ESG Research assesses governance structures, policies, targets, performance metrics, and any related controversies of companies. Globe’s “AA” rating demonstrates its proactive approach to managing risks and its dedication to sustainable business practices. Globe has also received its SBTI approval for its net zero pathway until 2050.
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BEIJING – China’s factory activity shrank for a fifth straight month and the services sector slowed sharply in September, suggesting Beijing will need even more stimulus to hit its 2024 growth target with only three months left in the year.
The National Bureau of Statistics (NBS) purchasing managers’ index (PMI) released on Monday nudged up to 49.8 in September from 49.1 in August, still below the 50-mark separating growth from contraction but beating a median forecast of 49.5 in a Reuters poll. The reading was the highest in five months.
However, paired with a downbeat private-sector Caixin survey and weak service PMIs, the data showed China’s factory and consumer activity remains a pain point for policymakers who acknowledged the economy faces “new problems” and have called for more forceful stimulus.
Authorities last week launched their most aggressive stimulus package since the COVID-19 pandemic, which helped China’s stocks post their best weekly performance in nearly 16 years. Share markets extended their rally on Monday.
Economists say while the PMIs showed some bright spots for manufacturing, the bigger question now is on whether last week’s big policy announcements, which include loosened property curbs in China’s biggest cities, would be enough to kickstart a recovery.
“From a macro perspective these policies are not that important, as these cities account for a small share of national property market,” said Zhiwei Zhang, chief economist at Pinpoint Asset Management. “The key policy to address the macro challenge remains to be fiscal.”
The central bank and top financial regulator on Sunday night unveiled more sweeping measures to aid the housing market, including directives for banks to lower mortgage rates for existing home loans before Oct. 31.
WEAK SERVICES
Analysts expect the stimulus and a reported new 2 trillion yuan ($285.20 billion) bond package should be enough to deliver growth in line Beijing’s growth target of around 5%, but the country still needs to tackle issues of weak demand and an increasingly hostile global trade environment.
Signs of persistent consumer weakness were evident in Monday’s readings with the official services PMI falling to 49.9 in September, showing the first contraction since December last year. Meanwhile, the Caixin services PMI showed activity in the sector slowed.
Zhao Qinghe, statistician at the NBS, said the decline in the official services PMI was due to the end of summer holiday travel peak and extreme weather such as typhoon in some regions.
The official construction PMI, however, shot up to 50.7 from 50.6 in the prior month.
Reuters reported on Thursday that 1 trillion yuan due to be raised via special bonds will be used to increase subsidies for a consumer goods replacement program and for business equipment upgrades.
China also aims to raise another 1 trillion yuan via a separate special debt issuance to help local governments tackle their debt problems, Reuters reported.
Officials said last week the program has already boosted auto sales, home appliances and home decoration products.
As a property downturn weighs on the broader economic recovery, top leaders at a Politburo meeting last week called for efforts to stop the falls in the housing market.
Megacities Shanghai and Shenzhen planned to lift key home purchase restrictions in coming weeks, joining a long list of smaller cities that have done so, Reuters reported on Friday. On Sunday, Guangzhou lifted all home purchase restrictions.
“Attention now shifts to the equity market, particularly property sales and consumption during Golden Week,” said Zhou Hao, chief economist at Guotai Junan International.
Chinese households are preparing to kick off the seven-day Golden Week holidays from Tuesday. – Reuters
U.S. President Joe Biden on Sunday approved $567 million in defense support for Taiwan, the White House said, the latest move by the United States to boost the island’s military in the face of rising tensions with China.
The United States is Taiwan’s most important international backer and arms supplier even in the absence of formal diplomatic ties. China has repeatedly demanded Washington stop selling weapons to Taipei, which it claims as its territory.
In a statement, the White House said Mr. Biden had delegated the Secretary of State the authority “to direct the drawdown of up to $567 million in defense articles and services of the Department of Defense, and military education and training, to provide assistance to Taiwan”.
It provided no further details.
In April, Mr. Biden signed a hard-fought bill into law that provides billions of dollars of new U.S. aid to Ukraine for its war with Russia, as well as for Israel and Taiwan.
China, which views democratically-governed Taiwan as its own territory, has ramped up military and political pressure over the past five years to assert its claims, which Taipei strongly rejects. – Reuters
LAS VEGAS – Kamala Harris’ U.S. presidential election campaign raised $55 million during two events this weekend, a campaign official said on Sunday.
The Democratic candidate and U.S. vice president raised $27 million at a fundraising event at the Palace of Fine Arts in San Francisco on Saturday that included remarks by former House of Representatives Speaker Nancy Pelosi and a performance by “Rise Up” singer Andra Day, said the official, who declined to be identified discussing non-public information..
Ms. Harris then drew $28 million for an event in downtown Los Angeles that included performances by Alanis Morissette and Halle Bailey. Also spotted at the event were Keegan-Michael Key, Sterling K. Brown, Demi Lovato, Jessica Alba, Lily Tomlin and Stevie Wonder.
At the events, Ms. Harris spotlighted her economic policies, calling herself a capitalist and painting the stakes of the election in existential terms. She told donors she would win but also that she was the underdog in the race, with just weeks to go.
Ms. Harris’s presidential campaign and the Democratic Party raised $361 million in August, giving her a clear cash advantage over Republican rival Donald Trump, whose campaign raised $130 million in August together with the Republican Party.
The two candidates remained in a close race for the presidency with just over a month before the Nov. 5 presidential election. A Reuters/Ipsos poll taken earlier this month showed Ms. Harris leading Mr. Trump 47% to 40%, although other polls showed a tighter race. – Reuters
