Home Blog Page 2082

UN estimates funding need of $743M to achieve PHL dev’t framework goals

PHILSTAR FILE PHOTO

THE United Nations (UN) said it needs about $743 million until 2028 to support human capital investments, job-quality improvements, and accelerated climate action in the Philippines.

The targeted projects fall under the 2024-2028 UN Sustainable Development Cooperation Framework, which is designed to help the Philippines achieve its national development priorities.

“The current value of the framework sits at around… $743 million, so this is what we call like the required resources to do the work that has been set up,” Matija Kovač, head of office at the UN Resident Coordinator, said at a briefing on Tuesday.

“At this stage, a little bit less than half is actually secured,” he added.

Mr. Kovač noted that the estimate cited is the funding requirement as of April and is subject to revision by year’s end.

The framework focuses on three strategic priorities: human capital development; sustainable economic development, decent work, innovation; and climate action, environmental sustainability, and disaster resilience.

For 2024, the Philippines will need $231 million, with $179 million available and $52 million yet to be sourced.

The country will need $158 million in 2025, $143 million in 2026, $120 million in 2027, and $92 million in 2028.

Between 2024 to 2028, the UN has obtained around $342 million to fund the implementation of its country strategy, Mr. Kovač said.

The UN estimates that around 30% of the secured funding comes from multi-partner funds, while 28% comes from bilateral sources like Australia, Japan and South Korea, 20% sourced from multilateral partners, and 10% from core and domestic resources.

“This is an investment and we are mobilizing resources, and although we still have a gap, the likelihood of getting these figures is very high,” Gustavo González, UN Resident Coordinator and Humanitarian Coordinator, told the briefing.

Leila Saiji Joudane, Country Representative for the UN Population Fund Philippines, said the UN has secured 72% of the $120 million for human capital development projects.

This will fund better healthcare access; school feeding; alternative learning systems, and comprehensive sexuality education; child protection systems; and public services and digitalization, among others.

Ms. Joudane cited the importance of investing in human capital development, with 60% of the Philippine population deemed in the “productive” age cohorts. — Beatriz Marie D. Cruz

Peso drops vs dollar on Powell comments

BW FILE PHOTO

THE PESO weakened against the dollar on Tuesday following cautious comments from the US Federal Reserve chief and amid the conflict in the Middle East.

The local unit closed at P56.145 per dollar on Tuesday, declining by 11.5 centavos from its P56.03 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session weaker at P56.20 against the dollar. Its intraday best was at P56.09, while it dropped to as low as P56.32 versus the greenback.

Dollars exchanged surged to $2.22 billion on Tuesday from $1.29 billion on Monday.

The peso dropped as the dollar was stronger after cautious remarks from Fed Chair Jerome H. Powell and amid the escalating conflict in the Middle East, a trader said by phone.

Mr. Powell’s comments were in contrast to the Bangko Sentral ng Pilipinas’ (BSP) chief’s dovish tone, which put pressure on the peso, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The US dollar rallied broadly on Tuesday after Mr. Powell pushed back against bets on more supersized interest rate cuts, Reuters reported.

Mr. Powell adopted a more hawkish tone in a speech at a conference in Tennessee, saying the world’s biggest central bank would likely stick with quarter-percentage-point interest rate cuts moving forward.

“This is not a committee that feels like it is in a hurry to cut rates quickly,” he said.

Traders remain certain that the Fed will cut again at the next policy setting meeting in November, but slashed expectations for a 50-basis-point (bp) reduction to 35.4% from 53.3% a day earlier, according to CME Group’s FedWatch Tool.

The Fed kicked off its easing cycle with a larger-than-expected half-point reduction last month, bringing its target rate to the 4.75%-5% range.

The dollar index rose 0.1% to 100.87 as of 0403 GMT, after pushing 0.3% higher on Monday, when it posted a third successive monthly decline, with a near 1% fall in September.

The dollar was up 0.3% at 144.01 yen, after whipsawing from as high as 146.495 yen on Friday to as low as 141.65 yen on Monday.

Meanwhile, BSP Governor Eli M. Remolona, Jr. last week said the Monetary Board could slash benchmark interest rates by 50 bps more this year via two 25-bp cuts each at its next two meetings scheduled for Oct. 16 and Dec. 19.

The BSP kicked off its easing cycle in August, cutting its policy rate by 25 bps to 6.25% from the over 17-year high of 6.5%.

For Wednesday, the trader sees the peso moving between P56 and P56.50 per dollar, while Mr. Ricafort expects it to range from P56.05 to P56.25 — A.M.C. Sy with Reuters

Stocks rebound after strong factory activity data

BW FILE PHOTO

PHILIPPINE SHARES recovered on Tuesday on strong factory activity data and also buoyed by gains on Wall Street overnight.

The Philippine Stock Exchange index rose (PSEi) by 1.48% or 107.67 points to end at 7,380.32 on Tuesday, while the broader all shares index climbed by 1.14% or 44.68 points to 3,963.36.

“Local shares ended Tuesday in positive territory, supported by the strong performance of Philippine factories,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The S&P Global Philippine Manufacturing Purchasing Managers’ Index (PMI) rose to 53.7 in September from 51.2 in August. A PMI reading above 50 means improved operating conditions from the previous month, while a reading below 50 shows deterioration.

The September manufacturing PMI was the highest in over two years or since the 53.8 posted in June 2022.

“The local market bounced back this Tuesday… The positive spillovers from Wall Street amid the rate cut cues from US Federal Reserve Chair Jerome H. Powell helped the market in its rise today,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

US markets closed higher on Monday. The Dow Jones Industrial Average Index rose 0.041% or 17.15 points to 42,330.15; the S&P 500 Index gained 0.42% or 24.31 points to 5,762.48; and the Nasdaq Composite Index increased 0.38% or 69.58 points to 18,189.17.

Investor focus has centred around the pace of rate cuts from the Fed after the US central bank kick-started an easing cycle last month with a 50-basis-point (bp) cut, Reuters reported.

Mr. Powell indicated on Monday that the US central bank would likely stick to quarter-percentage-point cuts henceforth after new data boosted confidence in economic growth and consumer spending.

“Investors appreciated the possibility of reserve requirement ratios (RRR) being brought down to 0% within Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr.’s term,” Mr. Tantiangco added.

The BSP last month announced that it would reduce the RRR for universal and commercial banks and nonbank financial institutions with quasi-banking functions by 250 bps to 7% from 9.5% effective on Oct. 25.

All sectoral indices closed higher on Tuesday. Property rose by 2.36% or 69.17 points to 2,999.80; holding firms surged by 1.75% or 107.73 points to 6,257.88; financials went up 1.44% or 33.08 points to 2,330.70; services gained 0.92% or 20.71 points to end at 2,251.97; industrials climbed by 0.67% or 65.60 points to 9,776.28; and mining and oil inched up by 0.6% or 52.13 points to 8,727.76.

Value turnover declined to P6.04 billion on Tuesday with 1.13 billion shares changing hands from the P7.22 billion with 1.1 billion issues traded on Monday.

Advancers outnumbered decliners, 124 to 73, while 60 names were unchanged.

Net foreign buying rose to P463.82 million on Tuesday from P87.71 million on Monday. — R.M.D. Ochave with Reuters

CSB Blazers barely defeat SSC-R Stags, 96-94, in overtime thriller

BLAZER’S Tony Ynot in action

Games on Friday
(Filoil EcoOil Arena)
12 p.m. – Mapua vs AU
2:30 p.m. – LPU vs UPHSD

IF THERE EVER was a win where one still feels bad, this one has got to be it for coach Charles Tiu and his College of St. Benilde (CSB)Blazers.

“This is probably the worst win in my life,” said Mr. Tiu following his team’s 96-94 overtime escape against a stubborn San Sebastian College-Recoletos (SSC-R) on Tuesday that kept College of St. Benilde at the helm in NCAA Season 100 at the Filoil EcoOil Arena.

“I’m really, really mad. That’s an embarrassment. We’re a joke right now. You give up 31 turnovers.. We’re lucky we got away with the win,” said Mr. Tiu, whose charges improved to 6-1.

Mr. Tiu’s anger can be sourced to his wards blowing a 26-point third-quarter lead that almost led to their defeat.

As punishment, Mr. Tiu said he would put his players into hell during Friday’s resumption of practice.

“We’ll practice hard and kill them tomorrow (Friday) probably,” he said.

Tony Ynot stepped up in overtime where he scored five of his team-best 23 points, which he garnished with eight rebounds and the same number of assists that somehow made up for his six turnovers.

“We relax in the fourth quarter,” said an apologetic Mr. Ynot.

Apart from Mr. Ynot, Justine Sanchez and Jhomel Ancheta helped save what had been a terrible day for the Blazers.

After Raymart Escobido nailed a booming triple that gave SSC-R a 94-92 lead with a little over a minute to go, Mr. Sanchez responded with a bucket of his own to tie it at 94 while Mr. Ancheta, back after a one-game ban, parted the red sea and scored on a lay-up with six seconds to go that proved to be the dagger.

The Stags had one chance to snatch the win after Mr. Escobido found himself on the exact same area where he buried a triple a few plays earlier but he went cold feet and bumbled his attempt as time expired.

SSC-R fell to 2-6. — Joey Villar


The scores:

First Game

CSB 96 – Ynot 23, Liwag 17, Sanchez 8, Torres 8, Eusebio 7, Turco 6, Morales 6, Ancheta 5, Cometa 4, Ondoa 4, Cajucom 3, Jarque 3, Sangco 2, Oli 0

SSC-R 94 – Escobido 29, Are 20, R. Gabat 12, Felebrico 9, Aguilar 9, L. Gabat 4, Ricio 3, Barroga 2, Velasco 2, Suico 2, Lintol 2, Pascual 0, Cruz 0

Quarter scores: 31-20; 58-37; 78-61; 87-87 (OT); 96-94

UP tests mettle of UST; red-hot UE faces Ateneo

Games on Wednesday
(Smart Araneta Coliseum)
11:30 a.m. – UST vs UP (women)
1:30 p.m. – UE vs Ateneo (women)
4:30 p.m. – UST vs UP (men)
6:30 p.m. – UE vs Ateneo (men)

TWO of the hottest teams step on the gas to solidify their places inside the magic four at the tailend of the UAAP Season 87 men’s basketball first elimination round.

Host and unbeaten University of the Philippines (UP) tests the mettle of the retooled University of Santo Tomas (UST), while red-hot University of the East (UE), on a three-game rampage, want no let-up against the struggling Ateneo de Manila University side on Wednesday at the Smart Araneta Coliseum.

The Maroons, at 5-0, are the only unbeaten team in the league with double-digit wins against all opponents, making them the heavy favorites at 4:30 p.m. even against the Tigers (3-2) who have shown growth by leaps and bounds from a bottom-place finish last season.

For their part, the Warriors (3-2) at 6:30 p.m. eye to add the Blue Eagles (1-4) to their kill list headlined by the reigning champion De La Salle University Archers, whom they stunned with a 75-71 win last week.

But UP is for more than just taming Santo Tomas, priming itself up for a heavyweight finals rematch with second-running La Salle this weekend to end the first round.

“We’re not gonna put our minds on undefeated situation, but rather, we’re just gonna tackle what is infront of us,” said coach Goldwin Monteverde

“That’s UST. But knowing them now, compared from last year, with a good program, definitely, they’re better now. And I think each position, they have materials to really compete.”

Sharing the spotlight are the Warriors, who despite losing ace Rey Remogat to offseason transfer, have proved their capability none bigger than a giant win against the reigning champions.

Aside from that, UE also claimed the scalp of contender and last year’s semifinalist National University, 57-51, for a good momentum entering the Eagles’ nest.

“I consider my boys still young but the boys are starting to have that winning character. We cannot afford to relax, especially we’re gonna face Ateneo,” vowed UE mentor Jack Santiago.

Underdogs and out of form following their losses against La Salle and Far Eastern University, respectively, Santo Tomas and Ateneo are unfazed especially with teams starting to jockey for playoff positions. — John Bryan Ulanday

MLB playoff primer

THE Kansas City Royals are in the postseason for the first time since winning the World Series of Major League Baseball (MLB) in 2015, the Tigers are ending a playoff drought that started that same year, and the Baltimore Orioles have an eight-game postseason losing streak that began after beating Detroit in a 2014 series.

At least one of those three teams will be playing in the American League (AL) Division Series this weekend.

Baseball’s playoffs start Tuesday with four wild-card games — two in the AL and two in the National League (NL) — in a best-of-three round.

The sixth-seeded Tigers will visit the third-seeded Houston Astros, a playoff regular, in the day’s first game. The fifth-seeded Royals meet the fourth-seeded Orioles, a talented squad due for a postseason breakout, in the second game.

In the NL, the third-seeded Milwaukee Brewers host the sixth-seeded New York Mets, and the fourth-seeded Padres clash with the fifth-seeded Atlanta Braves in Southern California in the last game of the day. San Diego is the hottest team since the All-Star break with a 43-20 record.

The Braves and Mets both got into the field by splitting a doubleheader on Monday. That left the defending NL champion Arizona Diamondbacks as the odd team out.

Four teams get the first round off: The top-seeded Los Angeles Dodgers and second-seeded Philadelphia Phillies in the NL, and the top-seeded New York Yankees and second-seeded Cleveland Guardians in the AL.

Here is a look at the pairings:

TIGERS (86-76) AT ASTROS (88-73)
Detroit traded away right-hander Jack Flaherty, outfielder/first baseman Mark Canha and left-handed reliever Andrew Chafin at the trade deadline, then released infielder Gio Urshela a few weeks later due to its season seemingly going nowhere. But a stunning 31-11 run, combined with the collapse of the Minnesota Twins, led to the Tigers ending their long playoff drought.

Detroit has the probable AL Cy Young Award winner in left-hander Tarik Skubal (18-4, 2.39 ERA), but the rest of the rotation is shaky. Outfielder Riley Greene (.262 average, 24 homers, 74 RBIs) is the top position player, and manager A.J. Hinch has expertly mixed and matched his roster all season to find timely production.

The Astros are the seasoned postseason squad and are part of the playoffs for the eighth season in a row. They won the World Series in 2017 (the sign-stealing group) and 2022 and finished this regular season strong with 11 wins in 16 games. Left-hander Framber Valdez (15-7, 2.91) is the ace, while legendary right-hander Justin Verlander might not make the playoff roster against his former club.

Houston slugger Yordan Alvarez (.308-35-86) is one of the most powerful hitters in the sport, and infielders Jose Altuve (.295-20-65) and Alex Bregman (.260-26-75) have been the core of the franchise’s dynasty. The Astros failed to reach the 90-win mark over the course of a 162-game season for the first time since 2016. Houston went 4-2 against Detroit this season.

The winner faces… the Guardians (92-69), who were surprisingly potent in Stephen Vogt’s first season as manager. Jose Ramirez (.279-39-118) might be the most unsung six-time All-Star in the history of the sport, but he has just two homers in 32 postseason games.

ROYALS (86-76) AT ORIOLES (91-71)
One of the top players on Kansas City’s back-to-back World Series teams in 2014-15 is one of the top performers for this club. Catcher Salvador Perez (.271-27-104) was MVP of the 2015 Fall Classic and is the backbone of the organization. However, the club has a big-time star in shortstop Bobby Witt Jr. (.332-32-109 plus 31 steals), the AL batting champion who will finish near the top of AL MVP voting.

The Royals hadn’t even had a winning campaign since 2015 prior to this season. The free agent signing of right-hander Seth Lugo (16-9, 3.00), the possible Cy Young Award runner-up to Skubal, provided a big boost, as did the development of left-hander Cole Ragans (11-9, 3.14). Both pitchers made the AL All-Star team. — Reuters

SMB and Meralco kickstart EASL campaign against Korean and Macau side, respectively

Games on Wednesday
(Mall of Asia Arena)
6:10 p.m.  – San Miguel vs. Suwon KT Sonicboom
8:10 p.m.  – Meralco vs. Macau Black Bears

SAN MIGUEL BEER (SMB) and Meralco set out to fly the Philippine flag and give home fans a winning performance as they launch their campaigns in the East Asia Super League (EASL) on Wednesday at the MOA Arena.

The Beermen defend home ground and Filipino pride versus Korean side Suwon KT Sonicboom at 6:10 p.m. in their Group A clash, while the Bolts seek the same against the Macau Black Bears in Group B at 8:10 p.m. as the PBA champs feature in a double-header treat ushering in Season 2.

“It’s going to be one big show,” Banjo Albano, VP for business development and head of EASL Philippines said of the 2024-25 season kickoff during Tuesday’s Philippine Sportswriters Association (PSA) Forum.

“It’s the first time we’re doing it in Manila and we know how much Filipinos love the game of basketball. It’s not only an honor but more of an obligation to host the games here in Manila. We felt Manila is the best place to kick off the new season.”

Reigning Commissioner’s Cup holder San Miguel beefed up its talent-laden crew in the ongoing Governors’ Cup led by import Anosik and Gilas Pilipinas stalwarts June Mar Fajardo and CJ Perez with former NBA player Quincy Miller for the home-and-away EASL competition.

For its part, the reigning Philippine Cup kingpin Bolts tapped import DJ Kennedy and naturalized player Ange Kouame to complement the gang headlined by Allen Durham, Chris Newsome, Chris Banchero and Cliff Hodge.

“I think they’re looking to represent the Philippines the best way they can and compete for the championship this season,” noted Mr. Albano, who was joined by VP Head of Commercial and Broadcast Operations Adam Zecha in the session presented by San Miguel Corp., Philippine Sports Commission, Philippine Olympic Committee, MILO, Smart/PLDT, and ArenaPlus, the country’s 24/7 sports app.

An extra motivation for SMB and Meralco would be the hunger to win after suffering sorry losses in Monday’s PBA quarterfinals wars ahead of their EASL gigs. The Beermen blew a 25-point lead and lost to Converge, 112-114, to get dragged to a Game 4 in their Last-8 duel. The Bolts got it worse, yielding to Ginebra 106-113, and getting swept out of semis contention.

According to Mr. Zecha, Cignal TV is the broadcast partner of the EASL Season 2, allowing Filipino fans to catch the action on Cignal, One Sport, One Sport Plus, and Pilipinas Live. — Olmin Leyba

Major League Baseball legend Pete Rose dies at 83

PETE ROSE, the all-time Major League Baseball (MLB) leader in hits and games played who was banned for life for betting on baseball, died Monday. He was 83.

The medical examiner in Clark County, Nev., confirmed Rose’s death to ESPN after it was reported by TMZ and by ESPN baseball commentator Eduardo Perez, who said on “SportsCenter” that he had spoken with Rose’s son.

The engine of the “Big Red Machine” for a combined 19 years in Cincinnati, Rose helped the Reds win consecutive World Series in 1975 and 1976 before winning a third title with the Philadelphia Phillies in 1980. Rose won the 1973 National League MVP Award and the 1975 World Series MVP.

The man nicknamed “Charlie Hustle” also played for the Philadelphia Phillies (1979-84) and Montreal Expos (1984) in between stints with the Reds and went on to manage Cincinnati from 1984-89, the first three years as a player-manager.

“The Reds are heartbroken to learn of the passing of baseball legend Pete Rose,” the Reds posted on X, formerly Twitter, with a black and white photo of Rose in his playing days.

No one has surpassed Rose’s totals of 4,256 hits, 3,562 games or 14,053 at-bats. He ranks sixth all-time in runs (2,165). He was a lifetime .303 hitter with 160 home runs, 746 doubles and 1,314 RBIs.

Rose famously was not allowed into the Baseball Hall of Fame because of his lifetime ban, which was handed down in 1989. Shortly after, he pled guilty to two charges of tax evasion, as he had filed income tax returns that failed to include income from selling autographs and memorabilia.

He admitted to betting on baseball in 2004, insisting he never bet against the Reds, and for years he advocated for his ban to be overturned.

Rose was allowed to participate in a ceremony honoring MLB’s All-Century Team in 1999, but the league was selective about other moments that he would be allowed to appear at the ballparks in Cincinnati and Philadelphia. — Reuters

Pivotal Game 2

The Liberty were not unaware of the disconnect between their WNBA-leading regular season record and their status as underdogs in their semifinal round series against the Aces. Not that they expected to be deemed favorites, never mind the fact that they won over their archrivals in all three of their previous matches this year. After all, they did wind up bridesmaids versus the defending champions in the 2023 Finals. And in view of the outcome, they acknowledged that they needed to prove themselves first before earning the respect they sought.

Creditably, the Liberty knew well enough to turn their failure into motivation. It was what propelled them to run roughshod over the league heading into Game One of the best-of-five affair the other day. It was also what they figured would give them the edge against the Aces, especially at Barclays Center in front of 14,015 fans looking for vindication. And, as things turned out, they were on the mark in their assessment. They never trailed en route to a double-digit victory, and, if nothing else, they underscored the superior depth of their roster as the difference maker.

Make no mistake. The Big Three of Breanna Stewart, Sabrina Ionescu, and Jonquel Jones performed to expectations, enabling the Liberty to hold the Aces at bay. The latter did manufacture runs, as was expected from noted winners led by newly minted Most Valuable Player A’ja Wilson. Still, none spelled danger for them because they were ready with a counter at every turn, because they brandished unshakable confidence, and because they truly believed they were better than the competition.

Today, the Liberty will need to consolidate their advantage with another triumph. Needless to say, Game Two will be pivotal to their title chances. Win anew, and they have the Aces backpedaling amid the pressure of sweeping the remainder of the series. Which is why they’ll be at their best in Game Two. The opportunity is in their hands, and they aim to make the most of it.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Israeli military begins ground invasion of Southern Lebanon

SMOKE rises over Beirut’s southern suburbs after a strike, amid ongoing hostilities between Hezbollah and Israeli forces, as seen from Sin El Fil, Lebanon, Oct. 1, 2024. — REUTERS

BEIRUT — Israel’s widely expected ground invasion of Lebanon appeared to be getting underway early on Tuesday as its military said troops had begun “limited” raids against Hezbollah targets in the border area.

The military said in a statement that it had begun “limited, localized, and targeted ground raids based on precise intelligence” against Hezbollah in southern Lebanon villages close to the border that posed “an immediate threat to Israeli communities in northern Israel”.

It said the air force and artillery were supporting the ground forces with “precise strikes.”

Local residents in the Lebanese border town of Aita al-Shaab reported heavy shelling and the sound of helicopters and drones overhead. Flares were repeatedly launched over the Lebanese border town of Rmeish, lighting up the night sky.

On Monday, Israeli Defense Minister Yoav Gallant had told local council heads in northern Israel that the next phase of the war along Lebanon’s southern border would begin soon, and would support the aim of bringing home Israelis who have fled Hezbollah rockets during nearly a year of border warfare.

The ground invasion represents an escalating conflict in the Middle East between Israel and Iran-backed militants, sparked by an assault on Israel by Palestinian militant group Hamas on Oct. 7, 2023, that now threatens to suck in the US and Iran.

An Israeli strike in Lebanon early on Tuesday targeted Mounir Maqdah, commander of the Lebanese branch of the Palestinian Fatah movement’s military wing, the Al-Aqsa Martyrs Brigade, according to two Palestinian security officials.

His fate was unknown.

The strike hit a building in the crowded Ain al-Hilweh Palestinian refugee camp near the southern city of Sidon, the sources said. It marked the first strike on the camp, Lebanon’s largest Palestinian camp, since cross-border hostilities between Hezbollah and Israel broke out nearly a year ago.

In Syria, three civilians were killed and nine others injured in an Israeli airstrike on the capital Damascus, Syrian state media said on Tuesday citing a military source. Israel’s military said it does not comment on foreign media reports.

Israel has been carrying out strikes against Iran-linked targets in Syria for years but has ramped up raids since the Hamas attack on Israel’s southern territory on Oct. 7, 2023.

Hamas killed 1,200 people and took about 250 hostage in its assault on Israel, according to Israeli tallies. Israel in response launched a massive assault on Hamas in Gaza, reducing most of the Palestinian territory to rubble, displacing most of its 2.3 million people and killing more than 41,300 Palestinians, according to the Gaza health ministry.

STRIKES ON BEIRUT
Israel’s ground invasion into Lebanon follows its deadly detonation of booby-trapped Hezbollah pagers, two weeks of airstrikes, and its killing on Friday of Hezbollah head Hassan Nasrallah, which dealt the group one of the heaviest blows in decades.

The intensive air strikes have eliminated several Hezbollah commanders but also killed about 1,000 civilians and forced one million to flee their homes, according to the Lebanese government.

Overnight, strikes hit Beirut’s southern suburbs, a security source said. A Reuters reporter witnessed a flash of light and a series of loud blasts about an hour after the Israeli military warned residents to evacuate areas near buildings it said contained Hezbollah infrastructure south of the Lebanese capital.

In the past 24 hours, at least 95 people had been killed and 172 wounded in Israeli strikes on Lebanon’s southern regions, the eastern Bekaa Valley, and Beirut, Lebanon’s health ministry said early on Tuesday.

Hezbollah’s deputy leader Naim Qassem, in a first public speech on Monday since Nasrallah’s death, said that “the resistance forces are ready for a ground engagement.”

He said Hezbollah had continued to fire rockets as deep as 150 km (93 miles) into Israeli territory.

“We know that the battle may be long. We will win as we won in the liberation of 2006,” he said, referring to the last big conflict between the two foes.

Late on Monday, Lebanese troops pulled back about five kilometers (3 miles) from positions along Lebanon’s southern border with Israel, a Lebanese security source told Reuters. A Lebanese army spokesperson did not confirm or deny the movement.

Lebanon’s army has historically stayed on the sidelines of major conflicts with Israel, and in the last year of hostilities has not fired on the Israeli military.

The White House and the US State department did not immediately respond to a request for comment on Israel’s ground operations in Lebanon.

But on Monday, US President Joseph R. Biden had called for a ceasefire.

“I’m more worried than you might know and I’m comfortable with them stopping,” Mr. Biden told reporters when asked if he was comfortable with Israeli plans for a cross-border incursion. “We should have a ceasefire now.”

Israel last week rejected a proposal by the US and France calling for a 21-day ceasefire on the Lebanon border to give time for a diplomatic settlement that would allow displaced civilians on both sides to return home. — Reuters

Taiwan warns of possible storm surge from powerful Typhoon Krathon

REUTERS

KAOHSIUNG, Taiwan — Taiwan mobilized nearly 40,000 troops on Tuesday to bolster rescue efforts as the powerful Typhoon Krathon approaching its populous southwest coast is expected to bring a storm surge and the coast guard raced to locate 19 sailors who abandoned ship.

Taiwan regularly gets hit by typhoons but they generally land along the mountainous and sparsely populated east coast facing the Pacific, but this one will make landfall on the island’s flat western plain.

Krathon is forecast to hit the major port city of Kaohsiung early on Wednesday afternoon, then work its way across the center of Taiwan heading northeast and cross out into the East China Sea, the Central Weather Administration (CWA) said.

Kaohsiung, home to some 2.7 million people, declared a holiday and told people to stay at home as Krathon — labeled a super typhoon by the US Navy’s Joint Typhoon Warning Center — approached.

Li Meng-hsiang, a forecaster for Taiwan’s Central Weather Administration, said the storm has reached its maximum intensity and could weaken slightly as it moves closer to Taiwan, warning of gusts of more than 150 kph (93 mph) for the southwest.

“The storm surge might bring tides inland,” Li said. “If it’s raining heavily it will make it difficult to discharge waters and as a result coastal areas will be subject to flooding.”

Kaohsiung Mayor Chen Chi-mai, speaking to reporters after a disaster management meeting, said the strength and path of the storm were both on par with 1977’s Typhoon Thelma which killed 37 people and devastated the city.

“After the typhoon, the whole of Kaohsiung was without water and electricity, just like a war,” Chen said, recalling the decades-ago destruction. “As much as possible, limit going out.”

Taiwan’s Defense ministry said it had put more than 38,000 troops on standby, as Kaohsiung residents made their own preparations.

“It’s going to strike us directly. We must be fully prepared,” said fisherman Chen Ming-huang. “In the worst-case scenario the ropes might snap and my boat could drift away.”

TSMC, the world’s largest contract chip maker and a major supplier to Apple and Nvidia, said it had activated routine typhoon preparations and did not expect a significant impact to its operations.

SEARCH FOR SAILORS
Off the southeast coast, Taiwan’s coast guard dispatched a boat to rescue 19 sailors from the cargo vessel Blue Lagoon who were forced to abandon ship as it took on water in its engine room, with a rescue helicopter having to turn back due to the wind and rain.

The coast guard said the crew consisted of seven Ukrainians, nine Egyptians and three Russians, which had set off from China’s Caofeidian port for Singapore.

The transport ministry said 85 domestic flights and nine international ones had been canceled for Wednesday, with boats to outlying islands also stopped.

The rail line connecting southern to eastern Taiwan was closed, though the north-south high-speed line was operating as normal, albeit with enhanced safety checks for wind and debris.

In Kaohsiung, most shops and restaurants pulled down their doors and shutters, and traditional wet markets shut with streets mostly deserted.

At a building in Siaogang district, home to the city’s airport, residents practiced how to rapidly set up metal barriers to stop water flooding into the underground parking lot.

“We will have only a few minutes to react if the flooding is coming,” said Chiu Yun-ping, deputy head of the building’s residents’ committee.

Chen Mei-ling, who lives near the harbor, said in past typhoons high tides reached just a few meters (feet) from her house’s main door and she had made preparations.

“We’ve got torches and emergency food supplies,” Chen said. “It’s a strong typhoon and we are worried.” — Reuters

Shigeru Ishiba confirmed as Japan’s prime minister

JAPANESE PRIME MINISTER SHIGERU ISHIBA — REUTERS FILE PHOTO

TOKYO — Shigeru Ishiba was confirmed as Japan’s next prime minister by parliament on Tuesday, paving the way for him to officially unveil his Cabinet as he seeks to heal party divisions and prepare for an Oct. 27 snap election.

The 67-year-old former defence minister won a close-fought contest last week to lead the ruling Liberal Democratic Party (LDP). Mr. Ishiba is expected to hold a late press conference on Tuesday after the Emperor formally appoints him, and his Cabinet, in a ceremony at Tokyo’s Imperial Palace.

Now in power, he must quell simmering anger over rising living costs and his scandal-plagued party, and navigate a volatile security environment in East Asia fueled by an increasingly assertive China and nuclear-armed North Korea.

The veteran lawmaker, seen as somewhat of a party outsider who failed at four previous leadership bids, has already begun picking government and party officials who will contest the upcoming general election with him.

So far those include two rival candidates in the leadership race, Katsunobu Kato as Finance minister and Yoshimasa Hayashi to stay on as chief Cabinet secretary, a pivotal post that includes the role of top government spokesman, two sources familiar with the appointments told Reuters earlier.

A close Ishiba ally, Takeshi Iwaya, a former Defense chief, will take over as foreign minister, while Gen Nakatani will return to the Defense ministry, a position he held in 2016, said the sources, who asked not to be identified because they are not authorized to speak publicly, confirming earlier media reports.

Yoji Muto, a former junior minister, will take charge at the economy, trade and industry ministry, a separate source said.

The Ishiba administration’s approach to diplomacy with Japan’s closest ally, the United States, will be in focus, as he has repeatedly called for a more balanced relationship with Washington.

He has also proposed creating an Asian version of the collective security group North Atlantic Treaty Organization to deter China, an idea that could draw ire from Beijing and has already been dismissed by a senior US official as hasty.

In his victory speech on Friday, he spoke about the need to beef up Japan’s security after recent territorial incursions by Chinese and Russian military vessels.

ECONOMIC POLICY
Mr. Kato’s appointment to the finance ministry will be closely watched given he served in key positions in former premier Shinzo Abe’s administration, which pursued expansionary fiscal and monetary policies.

The Nikkei stock index .N225 fell nearly 5% on Monday in reaction to a surging yen following Ishiba’s win over Sanae Takaichi, a monetary dove and fiscal expansionist, in Friday’s leadership contest. The index recovered ground on Tuesday.

Ms. Takaichi, a hardline conservative he beat by 215 votes to 194 on Friday in the closest leadership election in almost seven decades, appears to not be in the running for a top position after local media reported she declined a senior party post.

That could make it difficult for Mr. Ishiba, a perennial favorite in public opinion polls, to manage a fractious ruling group roiled by scandals.

But despite its troubles, the party which has ruled Japan for most of the postwar era remains likely to hold on to power in the upcoming election given Japan’s weak opposition.

A third of respondents to a weekend poll by the Mainichi newspaper said they supported the LDP, versus 15% for the main opposition Constitutional Democratic Party of Japan.

More than half of the respondents, including those who supported opposition parties, said they were optimistic about Ishiba’s appointment. — Reuters