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Hamas chief Ismail Haniyeh killed in Iran, Hamas says

Palestinian group Hamas' top leader, Ismail Haniyeh is seen in this file photo dated March 26, 2024. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS

— Hamas leader Ismail Haniyeh was assassinated in the early hours of the morning in Iran, the Palestinian militant group Hamas said on Wednesday, describing the strike as a “severe escalation” that would not achieve its goals.

Iran’s Revolutionary Guards confirmed the death of Mr. Haniyeh, hours after he attended a swearing in ceremony for the country’s new president, and said it was investigating.

There was no immediate comment from Israeli authorities.

The White House did not immediately respond to a request for comment on Mr. Haniyeh.

The news, which came less than 24 hours after Israel claimed to have killed the Hezbollah commander it said was behind a deadly strike in the Israeli-occupied Golan Heights, appears to set back chances of any imminent ceasefire agreement in Gaza.

“This assassination by the Israeli occupation of Brother Haniyeh is a grave escalation that aims to break the will of Hamas,” senior Hamas official Sami Abu Zuhri told Reuters.

He said Hamas would continue the path it was following, adding: “We are confident of victory.”

Mr. Haniyeh, normally based in Qatar, has been the face of the Palestinian group’s international diplomacy as the war set off by the Hamas-led attack on Israel on Oct. 7 has raged in Gaza, where three of his sons were killed in an Israeli airstrike.

Appointed to the Hamas top job in 2017, Mr. Haniyeh has moved between Turkey and Qatar’s capital Doha, escaping the travel curbs of the blockaded Gaza Strip and enabling him to act as a negotiator in ceasefire talks or to talk to Hamas’ ally Iran. — Reuters

Austin says Middle East war not inevitable, seeks to ‘take the temperature down’

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SUBIC, Philippines — US Defense Secretary Lloyd Austin III said on Wednesday he did not think a wider war in the Middle East was inevitable and the United States was seeking to cool rising tensions in the region.

“I don’t think war is inevitable. I maintain that. I think there’s always room and opportunities for diplomacy,” Mr. Austin told reporters during a visit to the Philippines.

His remarks come after Israel claimed on Tuesday to have killed the Hezbollah commander who it said was behind a deadly strike in the Israeli-occupied Golan Heights.

Asked also if he could confirm information about another strike that killed Hamas leader Ismail Haniyeh in Iran on Wednesday, Mr. Austin said: “I don’t have any additional information to provide.”

Palestinian militant group Hamas said the strike was a “severe escalation” that would not achieve its goals.

Iran’s Revolutionary Guards confirmed the death of Mr. Haniyeh, hours after he attended a swearing in ceremony for the country’s new president, and said it was investigating.

Asked what assistance the United States would provide if a wider conflict should break out in the Middle East, Mr. Austin said Washington would continue to help defend Israel if it were attacked, but the priority was de-escalating tensions.

“We don’t want to see any of that happen. We’re going to work hard to make sure that we’re doing things to help take the temperature down and address issues through diplomatic gatherings,” he said. — Reuters

Paris hotel operators slash prices in last-ditch attempt to attract more Olympics travelers

THE OLYMPIC CAULDRON and the Arc de Triomphe after sunset in Paris, France, July 30, 2024. — REUTERS

NEW YORK — With the Olympics underway in Paris, hotel operators made a final push to lure last-minute travelers, lowering prices and dropping minimum stay requirements after some people balked at what they saw as price-gouging prior to the games.

The Paris Tourist office said Monday that average hotel prices during the games have fallen to 258 euros per night — down from 342 euros earlier in the summer, which had represented a 70% increase from the average 202 euro price in July 2023.

Travel agents say visitors may clinch discounts of between 10% and 70% as operators offer deals after demand for the Games fell below expectations due to high prices and security concerns.

“Paris is not at all busy. There is space and hotel prices are about 20% cheaper,” said Denise Alevy, a travel agent who booked a last-minute trip to the city. “I found many hotels at very good prices.”

Booking Holdings’ metasearch engine KAYAK said hotel prices in the city decreased 16% in July compared to June. Hotel Planner said it is seeing a drop of as much as 66% in average hotel prices for four-star hotels in Paris through early August.

“The hospitality industry in France and worldwide has undoubtedly been taught a lesson against price-gouging when looking to capitalize on major events,” said Tim Hentschel, Chief Executive Officer of Hotel Planner, a travel booking website.

In July, France-based hotel operator Accor revised its expected gains from the Olympics, having previously forecast a 2% increase in revenue per available room in France during the Games.

“That’s no longer the case,” Accor Chief Executive Sebastien Bazin said on an earnings call. However, he said the company is doing well in terms of pricing and occupancy which is over 80% across Accor hotels during the Games.

Some hotels have dropped restrictions, including arrival dates and length of stay requirements, to attract last-minute travelers, according to travel agents.

“The rules have dropped but the prices not so much,” said Neil Kurman of Protravel International travel agent, a luxury travel agency. Five-star hotels like Le Royal Monceau Raffles are still charging close to 3,000 euros per night during the games, he said.

Accor may see a 0.5% uptick in room revenue if travelers flock to the city in the months following the Olympics, Accor’s Mr. Bazin said, but the company’s outlook remains conservative. — Reuters

This is how we know when the world has its hottest day

A TIMES SQUARE ALLIANCE public safety officer wipes away sweat amid high temperatures in New York in June. — BLOOMBERG

ON SUNDAY, July 21, the world had its hottest day on record. Just 24 hours later, that record broke again making last Monday very likely the hottest day in thousands of years.

It may seem improbable for scientists to gauge the world’s hottest day given that they don’t have temperature monitors in every corner of the world and less than a century of relatively widespread observations. But they’ve developed a technique that’s increasingly useful as the planet heats up.

The shocking heat findings, announced by the European Union’s Copernicus Climate Change Service, are based on “reanalysis,” a technique that mixes temperature data and models to provide a global view of the climate. The center creates a nearly real-time picture of the Earth’s climate, including temperature, wind and precipitation, for (roughly) every 30-square-kilometer chunk of the planet’s surface.

This reanalysis goes back to 1940, and it allows researchers to say with confidence when a record is broken, whether for a day, month or year. Beyond the new daily heat record, the data also shows that 2023 was the hottest year ever recorded and that every calendar month for the past 13 months has been the hottest on record.

Though there aren’t thermometers in every corner of the world, Copernicus receives a large amount of weather data that it uses to underpin its reanalysis. “We have this constant flow of information coming into the center,” says Carlo Buontempo, director of the Climate Change Service, which is part of the European Centre for Medium-Range Weather Forecasts (ECMWF).

Scientists at the center receive 100 million readings per day about weather conditions from around the world. Observations come from airplanes, satellites, ships, radar and surface-level weather stations — all feeding real-time information about temperature, wind, rain and snow information, as well as other factors like air pollution. This information is fed into a model, known as ERA5, which is already equipped with historic information about the global climate.

There are gaps in these observations, because the data sources don’t cover every part of the world. Weather conditions like cloudy skies may also reduce the amount of data coming from sources like satellites. To fill these gaps, the scientists take the predictions they have already made, based on the long-term ERA5 model, and test them against the observations. That means a forecast that predicts a particular temperature in a particular place will be tested against all the data researchers receive about the weather in that place and nearby, as well as broader forces like ocean currents and air circulation.

This is done repeatedly while assessing how compatible the prediction is with what’s actually been recorded. The model also accounts for any errors in the recorded data, and relies on the laws of physics, including the weather patterns, currents and airflow that govern how the global climate works.

In this way, it’s possible to create a complete picture that is as accurate as possible. That’s what allows scientists to confidently declare record like when the world experiences the hottest day in human history.

Globally, five weather services — the US’s National Oceanic and Atmospheric Administration and NASA, the ECMWF, the China Meteorological Administration, and the Japan Meteorological Agency — carry out continuous appraisals of global temperature using this technique. While their models differ slightly, the five groups have come to similar conclusions about record heat in recent months and years.

Historical data is trickier to come by. The longest-running temperature series, the Central England Temperature in the UK, started in the 17th century. Data from before humans were systematically monitoring temperatures comes from sources like bubbles of gas trapped in glacial ice, or tree rings. These sources aren’t as specific as a thermometer reading, but it’s possible to say with confidence that recent temperatures are likely the highest in around 100,000 years, Copernicus says.

Meteorologists also have a good idea when a particularly significant day, like the hottest day on record, is on its way. This is partly because global mean temperatures usually peak between early July and early August. Last year’s hottest day — which was the previous record for the hottest ever — occurred in early July amid a historic oceanic heat wave. An intensifying El Niño — a natural global climate phenomenon that usually means hotter temperatures globally — provided yet another clue that record heat was brewing.

Until this July, it looked for a while like the world wouldn’t set a new daily record, says Mr. Buontempo. “The global mean temperature for the oceans started rising again,” he says. “Some of the people who systematically monitor our predictions started to sound alarm bells.” By the start of last week, they were paying extra attention to the reanalysis and getting ready to make an announcement.

This technique isn’t just useful for making “hottest day ever” announcements: It’s being used to train AI forecasting models, especially for “ensemble” weather forecasts, which represent multiple possible future scenarios. It’s also used by solar energy companies to help homeowners work out how much energy their panels might generate, and by wind energy companies to plan where to put wind farms.

Copernicus is currently working on a new model, known as ERA6, which will be more precise — dividing the world into 14 kilometer squares — and incorporate many more historic data sources, including early satellite readings from the 1970s.

For Buontempo, more important than any one day is the recent extraordinary streak of record-breaking months, given that’s a better indicator of how rapidly the world is warming. But pinpointing a specific day does make a changing climate feel much more immediate.

“I think we have to make it more tangible, more direct, more visible,” he says. “It is important that people are informed.” — Bloomberg

Mega-sports events caught on horns of climate change dilemma

OVERVIEW of the Trocadero venue, with the Eiffel Tower looming in the background while the Olympic flag is being raised, during the opening ceremony of the Paris 2024 Olympic Games. — FRANCOIS-XAVIER MARIT/POOL VIA REUTERS

PARIS — A leading sports ecologist believes the climate crisis has left organizers of mega-sporting events like the Olympics facing a truth uncomfortable enough to make them squirm.

Golf courses are sliding into the sea, snow is vanishing from alpine resorts, football grounds have flooded and wildfire smoke is choking athletes as rising temperatures disrupt events.

Some sports at the Paris Games have enacted extreme heat protocols as temperatures climb, while unseasonal high rains have led to the high pollution levels in the river Seine that forced a rescheduling of Tuesday’s men’s triathlon.

“(Climate change) is clearly having an effect,” IOC spokesperson Mark Adams said on Tuesday.

“We have to live in the world that we have. As they say in sport, you have to play with what you have in front of you.”

Critics say extravaganzas like the Olympics, which will welcome an estimated 14 million visitors to Paris, contribute to climate change through a massive carbon footprint.

“These competitions need to be smaller,” said author and sports ecologist Madeleine Orr. “It’s not athlete travel that’s doing the damage, it’s all the fans.

“These are conversations I’ve had with the International Olympic Committee (IOC), focusing on the local population for ticketing and reducing the size of venues.

“Some people squirm at that.”

ECONOMIC BENEFITS
On the other side of the scale is money.

All those visitors mean the Paris Games are projected to generate between 6.7 billion euros and 11.1 billion euros ($7.27 and $12.04 billion) in net economic benefits for the region.

The Paris organizing committee set a target of halving the carbon footprint of their Games compared to earlier editions, excluding Tokyo where spectators were banned due to COVID-19.

Paris is using a host of measures to achieve this, but the footprint is still an estimated 1.58 million metric tons of CO2 equivalent, according to its own calculations.

For comparison, a single ton of CO2 is equivalent to 138 meat-based meals or a one-way flight from Paris to New York.

“Instead of a 60,000-seat stadium for football, say ‘we’re playing in smaller facilities and there’s 10,000 tickets’,” added Ms. Orr, whose book Warming Up, How Climate Change is Changing Sport was published in May.

“It’ll still be an awesome environment for athletes. It’ll look like a full crowd for the cameras. It just won’t be a tourism spectacle.”

Meanwhile, the future of the Games themselves are at risk.

“If we’re talking winter sports, (climate change) is an existential crisis,” Orr said.

“If we’re talking summer sports, we’re still within the window of adaptation. The problem is there’s very little attention being paid.”

The IOC would disagree.

Its “reduce, compensate, influence” climate commitment includes a target of 50% reduction of carbon emissions by 2030, compensating more than 100% of the residual emissions and encouraging stakeholders and fans to act against climate change.

‘DRAMATIC IMPACT’
It is also considering introducing a rotation of the winter Games among a permanent pool of host nations who have a reliable winter climate needed for the Olympics.

“We need to address very quickly this dramatic impact of climate change on winter sport,” IOC President Thomas Bach said last October. “By mid-century, there will remain practically just 10-12 (countries) who could host these snow events.” 

On the summer side, World Athletics president Sebastian Coe warned that athletes are suffering, with 75% reporting competition or training had been affected by climate change.

“There are countries in our federation that will probably not be in existence in the next 20 years because of rising sea levels,” Mr. Coe said last year.

The heat could cause issues at endurance events in Paris, particularly once athletics gets underway on Thursday.

The World Championships marathons in Doha in 2019 started at midnight to avoid the searing Middle East heat and still 46 runners did not finish.

Ms. Orr said heat was a threat to sport all over the world and an “existential crisis” in India, Pakistan, Bangladesh and parts of China.

UNCONTROLLED WILDFIRES
North America is also reeling. Hundreds of uncontrolled wildfires are burning across western Canada, forcing the evacuation of thousands of residents.

The smoke from North American wildfires has wreaked havoc over the last few years, forcing the postponement of Major League Baseball games, a National Women’s Soccer League match and an indoor WNBA game to protect the fans and teams.

Christopher Blevins, who was 13th in Monday’s Olympic mountain bike race, said checking an air quality app on his phone had become routine.

“There’s typically a fire somewhere on the West Coast and as an endurance athlete air quality is obviously important,” said the American, an athlete spokesperson for the environmental group Protect our Winters.

“It’s just a new reality,” he added. “It’s not just sports, it relates just as much to someone who wants to enjoy the outdoors, go for a hike in the park.”

Canadian rower Jennifer Casson recalled training under the “apocalyptic” red sky caused by Canada’s wildfires, and the algae bloom on Vancouver Island’s Quamichan Lake being so dense that she could not see her oar below the surface.

“Athletes care about the planet,” said Casson, who is competing in her second Olympics in Paris.

“We rely on this planet to do our sport, and I don’t need to be an expert to know that it’s getting frickin’ hot outside and I can’t breathe.” — Reuters

Explore the world through education with The Travel Club

Studying abroad offers a passport to limitless possibilities. It’s an enriching journey that can create a lasting impact on the way a person views the world and navigates life.

On June 29, 2024, The Travel Club, in partnership with World Traveller, Hedgren and JanSport, hosted the third installment of The Travel Guide Series at the Activity Center of the Ayala Malls Manila Bay. The theme of the event was Exploring the World Through Education.

Meeting of the minds: Top-notch resource speakers shared their insights and know-how as guests inquired about how to get started in their dreams to study abroad.

The event offered valuable insights and helpful preparation tips from global education specialists, including IDP, British Council, and IELTS. Filipino international school alumni Richard Carvajal from the University of Oxford, Ivan Bernardo from the University of Singapore, and Chiara Abaquin from Harvard Graduate School, also shared their first-hand experiences studying abroad to educate and inspire our aspiring global students.

“While traveling is fun, there are also a lot of pain points,” said Sheena Valencia, The Travel Club’s Marketing Manager, during her opening remarks. “Today, our goal is to help you with the challenges and guide you to prepare on your study abroad journey.”

IDP Team, the country’s leading resource for studying abroad, is ready to answer guests’ queries.

Students eyeing a global education in Australia, Canada, the United Kingdom and New Zealand received a comprehensive guide from IDP’s Country Destination Manager for Canada, Romina Puno-Romero. She discussed crucial factors such as location, study level, weather, tuition costs, and the overall cost of living when studying abroad.

“When you study abroad and you do it with IDP, you will be guided all throughout your journey,” Ms. Puno-Romero assured. IDP has a presence worldwide and offers personalized assistance depending on a student’s needs — from selecting a destination or school to handling applications, health insurance, student visas, and even emergency support in the study destination.

Primer Groups, The Travel Club and Digworx Teams made the event a resounding success.

The British Council, represented by its Senior Cluster Marketing Manager for Exams Danica Tuliao, highlighted the importance of the IELTS test, a key requirement for many international academic programs.

“IELTS helps you unlock opportunities for work, study, and migration,” Tuliao said. “It’s required when you study abroad to know how well-versed [you are] in an environment where you’ll meet people in different parts of the world.”

During the panel discussion, guest speakers shared their ultimate tips for global students. Ivan Bernardo encouraged attendees to “always ask for help,” Chiara Abaquin advised to “be open to unlocking new opportunities,” and Richard Carvajal urged everyone to “Carpe diem! And enjoy the experience of a lifetime!”

Nearly 300 guests had the chance for one-on-one consultations with IDP, British Council and IELTS. Aside from this, the event also featured fun activities from World Traveller, JanSport, and Hedgren. PNB offered sign-ups for the PNB-The Travel Club Platinum Mastercard, and Pioneer Insurance promoted its Safetrip Study Abroad Insurance.

Attendees had the chance to win thousands of prizes, including luggage from World Traveller, school bags from Hedgren, JanSport, and Travel Blue, insulated tumblers from Hydro Flask, IDP travel kits, Klook vouchers, PNB gift certificates, and an overnight stay at Seda Hotel from Pioneer Insurance. Lucky winners also received an IELTS premium voucher worth ₱40,000 from the British Council.

It was a day filled with discovery and preparation, providing attendees with practical tips and a deeper understanding of what it takes to succeed in international studies. Watch the entire live video in The Travel Club’s Facebook page to know everything that went down during the event.

Stay tuned for upcoming The Travel Guide events! Follow The Travel Club on Facebook, Instagram, and TikTok for updates.

 


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‘CONNECTED’: Globe Business highlights collaboration, innovation in GSummit 2024

In photo (L-R): RJ Ledesma, event host; KD Dizon, Vice-President and Head of Globe Business; Rishad Tobaccowala, author and former Chief Strategist and Growth Officer of Publicis Groupe; Capt. Stanley Ng, Philippine Airlines COO; Margot Torres, Managing Director of Golden Arches Development Corporation; and Steve Sy, Founder and CEO of Great Deals E-Commerce

Globe Business brought together the brightest minds and influential leaders from key sectors at the GSummit 2024, transforming the Marriott Grand Ballroom into a dynamic center of innovation, insights, and collaborative opportunities.

The premier on-ground event, with its theme “CONNECTED,” highlighted the importance of building strong relationships, exploring how interconnectedness can drive business growth and improve lives.

GSummit 2024 showcased an outstanding lineup of speakers led by KD Dizon, VP and Head of Globe Business. In her presentation, “Collaborative Ecosystems: Globe Business Partnerships for Digital Success,” Dizon shared how innovative solutions foster a collaborative environment, empowering companies to thrive in a rapidly evolving landscape.

“At its core, a collaborative ecosystem is a dynamic network of internal and external stakeholders working together to drive innovation, efficiency, and sustainability. Bringing in technology within this ecosystem elevates workplace dynamics through advanced tools and platforms that enable seamless communication, data-sharing, and real-time problem-solving,” Dizon said.

“The collaborative ecosystem at Globe has yielded substantial benefits. Improved communication, streamlined processes, and data-driven decision-making have enhanced operational excellence, reduced costs, and increased productivity. Customer satisfaction has also risen due to more personalized and efficient services enabled by Globe’s advanced analytics and digital solutions,” Dizon said.

In his keynote “Thriving in a Connected World,” Rishad Tobaccowala, author and former Chief Strategist and Growth Officer of Publicis Groupe, offered insights on driving business growth through connections, innovation, and strategic foresight.

“Think from the perspective of the human beings you serve. Think solutions. Think accessibility. Think value. Think experience,” Tobaccowala said.

Other speakers shared their own experience on collaboration and its impact on their respective organizations. Capt. Stanley Ng, President and COO of Philippine Airlines, talked about the airline’s growth through strategic partnerships and innovations under his leadership, while Margot Torres, Managing Director of Golden Arches Development Corporation, talked about how McDonald’s Philippines leveraged relationships and innovation to achieve sustained growth.

The event also included breakout sessions that delved into critical areas of business and technology, including the importance of synergy, building enterprise growth through tech, and enhancing enterprise security.

The sessions featured technology leaders from Globe portfolio companies Inquiro, m360, Adspark, and global names in tech such as Fortinet, Genesys, Huawei, Google, Navagis, Orca, Samsung and Snowflake explaining how these powerful technologies can be harnessed to create a robust growth engine for enterprises.

The summit reaffirmed Globe Business’ commitment to understanding customer challenges, providing reliable business-grade connectivity, and partnering with best-in-class providers to support various industry and business needs. This dedication positions Globe Business as the premier partner for business growth, offering cutting-edge innovations and top-tier learning experiences to unlock your full business potential.

To learn more about Globe Business, visit https://glbe.co/globebiz.

 


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New US rule on foreign chip equipment exports to China to exempt some allies, sources say

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 – The Biden administration plans to unveil a new rule next month that will expand US powers to stop exports of semiconductor manufacturing equipment from some foreign countries to Chinese chipmakers, two sources familiar with the rule said.

But shipments from allies that export key chipmaking equipment – including Japan, the Netherlands and South Korea – will be excluded, limiting the impact of the rule, said the sources who were not authorized to speak to media and declined to be identified.

As such, major chip equipment manufacturers such as ASML and Tokyo Electron will not be affected.

The rule, an expansion of what is known as the Foreign Direct Product rule, would bar about half a dozen Chinese fabs at the center of China’s most sophisticated chipmaking efforts from receiving exports from many countries, according to one of the sources.

Countries whose exports would be affected would include Israel, Taiwan, Singapore and Malaysia.

Reuters could not determine which Chinese chip fabs would be impacted.

A spokesperson for the US Commerce Department, which oversees export controls, declined to comment.

Aiming to impede supercomputing and AI breakthroughs that could benefit the Chinese military, the US imposed export controls on chips and chipmaking equipment for China in 2022 and 2023.

The new rule, currently in draft form, shows how Washington is seeking to keep up the pressure on China’s burgeoning semiconductor industry but without antagonizing allies.

The Foreign Direct Product rule stipulates that if a product is made using American technology, the US government has the power to stop it from being sold – including products made in a foreign country.

The rule has been used for several years to keep chips made abroad from Chinese tech giant Huawei, which re-invented itself after it struggled with the US restrictions, and is now at the center of China’s advanced chip production and development.

Another part of this latest export control package will lower the amount of US content that determines when foreign items are subject to US control, sources said, adding that it closes a loophole in the Foreign Direct Product rule.

Equipment, for example, could be designated as falling under export controls simply because a chip containing US technology is incorporated into it, they said.

The US also plans to add about 120 Chinese entities to its restricted trade list which will include a half dozen chipmaking factories known as fabs, plus toolmakers, providers of EDA (electronic design automation) software and related companies.

The planned new rule is only in draft form and could change, but the aim is to publish it in some form next month, the sources said.

Aside from Japan, the Netherlands and South Korea, the draft rule exempts over 30 other countries which are part of the same A:5 group.

The Commerce Department says on its website that it categorizes countries “based on factors like diplomatic relationships and security concerns. These classifications help determine licensing requirements and simplify export control regulations, ensuring lawful and secure international trade.”

The planned exemptions are a sign the US needs to be diplomatic when implementing restrictions.

“Effective export controls rely on multilateral buy-in,” said a separate US official who declined to be identified. “We continually work with like-minded countries to achieve our shared national security objectives.” – Reuters

Harris to hold Philadelphia rally with vice president pick Tuesday

US Vice President Kamala Harris speaking at a forum in October. — VICE PRESIDENT KAMALA HARRIS/TWITTER

Vice President Kamala Harris will hold her first rally with her new vice presidential nominee on Tuesday Aug. 6 in Philadelphia, Pennsylvania, launching a four day battleground tour that includes Michigan and Arizona, the campaign said.

The location of the first stop suggests Pennsylvania Governor Josh Shapiro has moved to the top of a short list of running mates, and that the Harris campaign had decided the state that Democrats won back from Republicans in 2020 is a must-win once again.

After Philadelphia, Ms. Harris and her vice presidential pick will travel to six other locations including western Wisconsin, Detroit and Las Vegas, the campaign said in a statement late Tuesday night, adding a “strong reminder” that Harris has “made no decision on a running mate.”

The high-stakes decision on who will run with Harris has taken center stage since she became the Democratic frontrunner for the Nov. 5 election when US President Joe Biden ended his White House bid just over a week ago.

Ms. Harris is expected to announce the decision as soon as Monday, ahead of Tuesday’s event, the sources said.

The short list of candidates under consideration include Mr. Shapiro, Kentucky Governor Andy Beshear, US Senator Mark Kelly of Arizona, Minnesota Governor Tim Walz and Secretary of Transportation Pete Buttigieg.

If Mr. Shapiro is the pick, the Harris campaign is likely counting on the popular, 51-year-old governor to help win the state in November.

Mr. Shapiro’s stock among Democrats rose after he swamped his Republican opponent for governor, Doug Mastriano, winning over 56 percent of the vote in a state known for tight elections.

Mr. Shapiro would also become the second Jewish nominee for vice president on a major ticket in U.S. history, following Joe Lieberman’s failed 2000 bid with Al Gore.

A handful of US states, often called battlegrounds, have decided the presidential election in recent years, including Michigan, Pennsylvania and Wisconsin.

Typically, campaigns begin thinking about their vice-presidential pick after the primary race ends in the spring, giving them months to vet candidates and make a decision on who the candidate meshes with best personally and politically.

Ms. Harris is being forced to select her running mate on a highly compressed timeline. She faces an Aug. 7 deadline set by the Democratic National Committee, but the decision is likely to come sooner, according to the sources.

Eric Holder Jr., the former attorney general who led the vice-presidential vetting process for Barack Obama in 2008, is vetting Harris’ picks through his law firm, Covington & Burling.

The candidates are informally auditioning for the job, hitting the airwaves and campaign stops to showcase what they would bring to the Harris ticket.

Mr. Shapiro, for example, delivered a rousing testimonial about Harris in the Philadelphia suburbs on Monday.

“She’s not only ready, she’s damned ready,” he said to a cheering crowd. “And you know who else knows she’s ready? Donald Trump knows she’s ready.”

Mr. Walz, the governor of Minnesota, is credited with pushing the Democrats’ new criticism of Trump and his running mate J.D. Vance – that they are “weird.”

“The fascists depend on us going back, but we’re not afraid of weird people,” Mr. Walz said on Saturday of the Republican ticket. “We’re a little bit creeped out, but we’re not afraid.” – Reuters

BOJ raises interest rates, lays out bond taper plan

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 – The Bank of Japan raised interest rates on Wednesday and projected inflation to stay around its 2% target in coming years, signaling its resolve to steadily unwind a decade of massive monetary stimulus.

At the two-day policy meeting that ended on Wednesday, the central bank also laid out a detailed quantitative tightening plan that will reduce monthly bond buying in several stages to around 3 trillion yen ($19.6 billion) as of January-March 2026.

The nine-member board decided to hike the overnight call rate target at 0.25% from 0-0.1% by a 7-2 vote.

BOJ Governor Kazuo Ueda will hold a news conference at 0630 GMT to explain the decision. – Reuters

China to gradually implement consumption tax reform, minister says

A GENERAL VIEW shows Beijing’s skyline on a sunny day in this file photo. — REUTERS

 – China will gradually implement consumption tax reform through different items and standardize management of local governments’ non-tax revenues, Vice Finance Minister Wang Dongwei said at a press conference in Beijing on Wednesday.

Local administrations will gradually be allowed to retain more of the consumption tax, which is currently collected by the central government and accounts for almost a tenth of China’s total tax revenues, according to a Communist Party agenda-setting meeting this month known as a plenum.

China currently collects consumption taxes based on the value of a good when it is produced but there are plans to widen the assessment of the tax to include the value at its consumption.

Wang said in his remarks to media outlining government steps to enact policy made at the plenum that “we are considering moving the consumption tax collection stage backwards”.

We will consider the division of central and local government revenues and their tax collection and administration capabilities, and steadily implement the reform by different product items step-by-step, in a bid to expand local governments’ revenue sources and guide them to improve consumption environment,” said Wang.

China is attempting to overhaul its tax regime, under which the central government gets most revenues but saddles local authorities with most expenditures, as municipalities are making less income form land sales amid a prolonged property crisis.

Policymakers also hope to ease concerns over municipal debt of more than $13 trillion that poses risks to the financial system.

Official data on Wednesday showed China’s manufacturing activity in July shrank for a third month, highlighting the still sluggish domestic demand.

At a key policy meeting on economy held on Tuesday, Chinese leaders signaled the stimulus measures needed to reach this year’s economic growth target will be directed at consumers.

The state planner and finance ministry said last week some funds raised through this year’s ultra-long sovereign bonds issuance would be shifted towards supporting a consumer goods trade-in scheme. Reuters

Okada Manila launches ‘Embrace Your Own Greatness’ campaign to celebrate athletic excellence

Okada Manila continues to redefine extraordinary as the Philippines’ true Forbes 5-star integrated resort — now a 6-time Forbes 5-star awardee.

Okada Manila, Asia’s premier integrated resort, joins in the celebration and the spirit of the highly anticipated summer games with its latest campaign, “Embrace Your Own Greatness.” The campaign underlines the resort’s commitment to provide exceptional guest experiences and world-class amenities, designed to make every guest feel like a champion every time they stay at the five-time Forbes five-star integrated resort.

Okada Manila invites everyone to join in the celebration as the world witnesses the greatness of sport and spectacle.

“For every guest, every moment spent at Okada Manila is a milestone, every stay a victory lap,” said Robert Scott, Vice-President of Hotel Operations at Okada Manila. “Our goal is to create an environment where the world’s finest comforts meet heartfelt Filipino warmth and Japanese hospitality, celebrating the most important part of our story — our guests.”

The “Embrace Your Own Greatness” campaign will feature a series of events and promotions for guests to mark their achievements and enjoy personal wins. The Okada Manila experience is made even better with championship-caliber promotions such as the Stay and Dine package, which includes complimentary dining credits worth P2,500; and the Stay, Flex, Fly offer, providing flexible check-in and check-out times along with round-trip airport transfers.

From Aug. 17 to Sept. 22, families, car enthusiasts, and staycation lovers are in for an unforgettable time at The Ultimate Hot Wheels Experience at Cove Manila, Asia’s largest indoor beach club. To top off these amazing offers, guests can go on a gastronomic journey beyond flavors and explore a feast for the soul at more than 40 dining options, offering a culinary marathon that caters to every palate.

Okada Manila invites everyone to join in the celebration as the world witnesses the greatness of sport and spectacle. Guests are welcome to experience the unparalleled leisure and hospitality that has made Okada Manila a premier destination in the region. Whether guests are looking for a relaxing getaway, a culinary adventure, or a vibrant cultural experience, Okada Manila offers something for everyone.

For more information about the “Embrace Your Own Greatness” campaign and to make reservations, please visit  https://www.okadamanila.com/embrace-your-own-greatness.

 


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