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Medical assistance for PDLs in Payatas

Former Ilocos Sur Governor Luis Chavit Singson

Former Ilocos Sur Governor Luis Chavit Singson provided food and medical assistance for PDLs (persons deprived of liberty) at the new BJMP Quezon City Jail in Payatas.

The new “zero congestion” facility can house 4,500 inmates. 60%-70% of the cases here are drug-related.

This first medical mission for PDLs was headed by Mr. Singson, along with his daughter, Congresswoman Richelle Singson. Joining them at this momentous event were Jail Warden Warren Geronimo, and Regional Director Clint Russell Tangeres.

Former governor Singson stated the importance of peace as the start of achieving big things not only for the inmates but also for all Filipinos. This is what he has done for Ilocos Sur and is his blueprint for guiding and helping his constituents.

A new lease on life is Singson’s battle cry for the inmates as he stated that it is hard for released PDLs to look for jobs. He also has a program that can help provide factory and caregiving jobs for them through his contacts in Taiwan, South Korea and Japan. 

Through the years, Mr. Singson has been helping his countrymen through civic oriented projects like this one held at Payatas.  

 


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Salmon emerges as Best Fintech Start-Up Company at Global Business Outlook Awards 2024

Salmon, the leading fintech company committed to expanding financial inclusion and innovation in Southeast Asia, has been awarded Best Fintech Start-Up Company in the Philippines at the prestigious Global Business Outlook (GBO) Awards 2024. This award further solidifies Salmon’s position as a leader in financial innovation and inclusion within the country and highlights its potential for continued growth in the coming years.

The Global Business Outlook Awards, recognized for celebrating excellence across industries worldwide, honored Salmon for its innovative, technology-driven financial solutions, which are designed to meet the needs of underserved communities. Salmon’s success in leveraging artificial intelligence and data analytics to offer accessible financial products was a key factor in securing this award.

Since its inception, Salmon has remained focused on bridging gaps in the Philippine financial ecosystem. By utilizing AI and cutting-edge technology, Salmon has enabled faster, more inclusive credit decisions, particularly benefiting Filipinos without formal credit histories. This approach has positioned the company as a significant player in the fintech space, with strong potential for scaling its impact across Southeast Asia in the near future.

Salmon’s flagship product, the Salmon App, continues to reshape the customer experience with its user-friendly interface. The app allows users to apply for loans, manage finances, and make payments effortlessly. Its consistent 4.8-star rating on major app stores is a testament to Salmon’s commitment to providing a smooth and transparent customer experience.

Reflecting on the award, Salmon Co-Founder Pavel Fedorov said, “This recognition from the Global Business Outlook Awards underscores our mission to make financial services more accessible to all Filipinos. We are excited by the growth opportunities ahead as we continue expanding our services and introducing more solutions that cater to the financial needs of both urban and rural communities.”

Salmon’s ongoing efforts in promoting financial awareness on social media have also been a critical driver of its success. The “Salmon Pera Serye,” a financial education initiative launched by the company on TikTok, in particular, has garnered over 1 million views in just three months. By empowering Filipinos with essential financial knowledge, the series has established Salmon as a key player in enhancing financial awareness and responsibility.

Co-Founder and Chairman of Salmon’s Bank subsidiary, Raffy Montemayor, shared his vision for the company’s future: “We are not only proud of what we’ve accomplished so far but also optimistic about our potential for further growth. The recent launch of the Salmon Time Deposit by the Rural Bank of Sta. Rosa (Laguna) exemplifies our strategy of bridging traditional banking and fintech. We look forward to continuing to offer innovative products that drive financial inclusion and help secure the financial futures of more Filipinos.”

As Salmon scales its operations and broadens its reach across Southeast Asia, it is poised for significant growth in the fintech landscape. The company’s commitment to financial inclusion, combined with its advanced technological capabilities, ensures it is well-positioned to become a key player in shaping the future of financial services in the region.

About Salmon Group Ltd.

Founded in 2022 by fintech and banking veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon Group Ltd. owns and operates subsidiaries in the Philippines, including Sunprime Finance, Inc. and the Rural Bank of Sta. Rosa (Laguna), Inc., which was established in 1963. The Group is dedicated to expanding financial inclusion by providing customers with cutting-edge, customer-centric, AI and data-driven banking and financial services. It is on a mission to empower clients underserved by legacy banks across Southeast Asia and is supported by world-class shareholders, including the International Finance Corp., the sovereign wealth fund of Abu Dhabi (ADQ), and other blue-chip international and Filipino investors.

 


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PBBM reiterates commitment to transparent, transformative leadership through PFM Reform Roadmap 2024-2028

PFM Principals endorsing to PBBM the PFM Roadmap. BBM with (starting 2nd from left) DBM Secretary Amenah Pangandaman, COA Chairman Gamaliel Asis Cordoba, DICT Secretary Ivan Uy and NEDA Secretary Arsenio Balisacan
President Ferdinand R. Marcos, Jr. reaffirmed the administration’s commitment to transparent and transformative leadership as he led the Ceremonial Endorsement of the Public Financial Management (PFM) Reforms Roadmap 2024-2028 in Malacañan Palace.
“With this roadmap, we give a clear mandate of ensuring that the money entrusted to us by the people serves a purpose that truly matters, that will make a difference,” President Marcos said in his speech.
The President said the ceremony is more than just “a mere endorsement of policy” but also a reassertion of the government’s collective resolve to build a system that will serve the present and future generations.
With the implementation of interventions and activities in the roadmap, it will improve the government’s ability to transparently and efficiently allocate resources, enabling agencies to deliver services effectively.
“It is about swift, efficient disaster relief and response actions so that no community is left behind when disasters strike. It is about better public healthcare access, ensuring that medical costs do not become yet another burden for our citizens. It is about expanding social services, creating not just a safety net, but opportunities for every Filipino to succeed, no matter their circumstances may be,” the President said.
Under the Roadmap, robust resource management coordination, greater capacity-building, wider technological integration, and stricter financial program implementation across sectors are expected.
Among the priorities of the new PFM is to synchronize planning and budgeting at local, regional, and national levels, as well as streamline institutional frameworks to reduce the time spent on bureaucratic processes, resulting in a faster delivery of service.
Digitalization and modernization of government frameworks are also given importance in the said roadmap.
Through collaborative efforts and support from partners, the President expressed confidence that the PFM Reforms Roadmap will greatly contribute to the country’s significant developments.
“With the strong support of our partners, especially with the ADB (Asian Development Bank), I am confident that the PFM Reforms Roadmap — anchored on the Philippine Development Plan 2023-2028 — will lead the nation to a higher growth trajectory, and ultimately, to reducing poverty and achieving genuine prosperity. Consider yourselves as the forerunners of this new era, this Bagong Pilipinas that we are building,” the President said.
The PFM Reform Roadmap was developed under Executive Order (EO) No. 29 issued by President Marcos last June 2023.
In the EO, the PFM Committee is directed to strengthen the public financial management information systems and streamline its processes.
This includes the revisiting of policies, revising outdated frameworks, and the creation of a strategic roadmap that reflects the changing needs of the people.
The PFM committee is comprised of the Department of Budget and Management (DBM), alongside key representatives of the Commission on Audit (CoA), Bureau of the Treasury (BTr), Department of Finance (DoF), Department of Information and Communications Technology (DICT), and the National Economic and Development Authority (NEDA).

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Traders brace for least predictable Fed meeting in years

REUTERS

NEW YORK – Traders in global financial markets are facing extraordinary uncertainty as they await the U.S. Federal Reserve’s expected rate cut on Wednesday, setting up markets for a burst of volatility.

Major brokerages expect the Fed to lower interest rates by 25 basis points at the end of its two-day monetary policy meeting, even as financial markets price in a good chance of policymakers starting the easing cycle with a 50-bps reduction.

Fed funds futures, which reflect the market’s expectations for the future of monetary policy, have rallied to push the chance of a 50-basis-point rate cut to 61%, against 30% a week ago. The odds narrowed sharply after media reports revived the prospect of a more aggressive easing.

These last-minute moves have left Fed funds futures projecting a record lack of clarity about a Federal Open Market Committee decision, according to a BofA Global Research report.

“It’s very rare that you have the market divided on a Fed action 24 hours before the event,” George Bory, chief investment strategist for fixed income at Allspring, said.

“Usually, at this point in time, the Fed has communicated, or has led the market to expect, a very specific action,” Bory said, adding that given the decision is highly uncertain, positioning is unlikely to be deep.

While Fed decisions often move markets, the relatively even divide between traders expecting 25 bps versus 50 bps makes it likely that no matter what the Fed delivers it is going to take many traders by surprise.

The Fed move is likely to be the largest surprise, relative to market pricing two days ahead of a decision, in over 15 years, according to a Deutsche Bank analysis.

“No one’s quite sure … people have landed on different estimates, guesstimates if you will, and right about half of those people are going to be wrong,” said Matt Weller, head of market research at StoneX.

“So they’re going to have to adjust their positions … One way or another, we could see pretty big moves in the market,” Weller said.

RIPPLE EFFECT
Asset classes from stocks, currencies and fixed income could all log swings in the immediate aftermath of the decision, investors said.

Stock options are pricing an about 1.1% swing, in either direction, for the S&P 500 on Wednesday, according to options analytics service ORATS.

The recent rally in U.S. stocks — the S&P 500 has advanced for seven straight sessions, rising 4.2% — leaves stocks ill placed to deal with disappointment in the case of a smaller cut. The S&P 500 rose 0.03% on Tuesday, to finish just shy of the record closing high from July.

“With U.S. equities near all-time highs and likely already reflecting a deep Fed easing cycle, the risk-reward skew for much further upside looks poor,” said Tara Hariharan, managing director at global macro hedge fund NWI Management.

Traders, who currently expect about 120 bps worth of cuts by year-end may also have to recalibrate their thinking if the Fed decision and Fed Chair Jerome Powell’s accompanying commentary shakes their confidence in aggressive rate cuts.

“The market will have to unwind some of this pricing given the U.S. economy continues to be resilient,” she said, adding that she expects the front end of the yield curve to steepen.

The Fed decision has the potential to roil foreign exchange markets as well with the dollar/yen pair seen as one of the most sensitive to the rate decision. The dollar rose nearly 1% against the yen to 141.95 on Tuesday.

While a 25 bps rate cut would likely lead to a knee-jerk reaction higher for the U.S. dollar, potentially taking USD/JPY back above the key 142.00 level, a 50-bps rate cut could take the pair back toward the psychologically significant 140 level, StoneX’s Weller said.

Glen Capelo, managing director of fixed income at Mischler Financial Group, expects heightened interest rate volatility following the Fed’s decision due to the market overextending itself.

Capelo said a 25-basis-point rate cut will most likely lead to a sell-off in Treasuries, although much will also depend on the Fed’s press conference.

Michael Rosen, managing partner and chief investment officer of Angeles Investments, sees the bond market’s read on the pace of monetary policy as too aggressive.

“The market is pricing in 250 bps of cuts over the next year, a magnitude that only makes sense in the face of a recession. While a recession in the next 12 months is possible, it is not likely, and short-term yields will fall less than the market expects, while long-term rates may even rise from here,” Rosen said. — Reuters

Common pet policies of Manila malls

Malls are a go-to place for pets and their fur parents in the Philippines, a country where – per Statista in August 2024 – 6.6% of households own a cat and over 11 million people have a dog. 

Here are the pet policies of some of the country’s malls: 

 

Be mindful of pets

SM Supermalls, Araneta City, Robinsons Malls, and Ayala Malls allow pets on their premises if they are fully supervised. 

Wearing diapers is “highly encouraged” in SM Supermalls, Araneta City, and in the Ayala Malls with a lax tier pet policy. Diapers are required, however, in Robinsons Malls and in the Ayala Malls with a limited tier pet policy. 

Each mall under Ayala Malls’ hybrid tier pet policy has different rules on diaper use. 

Pet IDs are also required in Ayala Malls, Araneta City, and Robinsons Malls. 

SM Supermalls 

  • Pets should always be on a leash, in a carrier/stroller, or hand carried. Dogs are only allowed to be off-leash at the Paw Park. 
  • Pet owners should be able to always maintain control over their pets. 
  • On escalators, pets should be hand-carried or placed in a pet-carrier. 
  • On elevators, pets should be placed on a short leash. 

Robinsons Malls 

  • Pets must be kept on a leash, carried, or placed in a carrier/stroller while inside the mall. When walking pets inside the mall, the leash must be kept short and not exceed one meter in length. 
  • Pets must be carried when riding the escalators and put on a short leash when using the elevators. 

Ayala Malls 

  • Unless falling under the prohibited areas, small pets are allowed in the hallway or common areas of the malls in the limited and lax tiers. They should still be inside a stroller or a carry-on bag regardless. 
  • An Ayala-run mall in the hybrid tier, meanwhile, has the sole discretion on where pets are allowed. 

Araneta City 

  • The size of dogs and cats is not regulated, although pet owners must be able to maintain control over them during their visit. 
  • Pets are allowed in all escalators. Owners are required to always carry their pets when riding up and down the escalator. 
  • Pets are allowed in all elevators. Owners are required to keep their pets on a very short leash when riding up and down the elevator to avoid accidents. 

 

Clean up after them

Fur parents are required to clean up after their pets. 

Robinsons Malls 

  • Wipe off urine or pick up droppings and put them in a sealed plastic bag before disposal.

SM Supermalls 

  • Properly dispose of pet waste in sealed bags.  

Ayala Malls 

  • Pet owners must remove, clean up, and dispose of any pet feces, waste, and litter by their pets in any area within the mall. They are required to pick up their pets’ waste or clean off their urine using wet wipes. They are then expected to put the dirty wet wipes inside a disposable bag prior to throwing them in pet waste bins. 

Araneta City 

  • All owners must make sure to take away, sanitize, and dispose of any droppings, refuse, or debris left behind by their animals in the mall area. It is required that they wipe up urine with damp cloths. These soiled wipes must be put into a disposable sack before being thrown away in the designated bins within the shopping center. 

 

Off-limits areas

Each mall has areas where pets are not allowed. 

SM Supermalls 

  • Stores and restaurants have the right to implement their own pet policies. 
  • Pets shall not be allowed inside or around children’s play areas. 
  • Pets (except guide dogs) shall not be allowed inside the chapel or mass area. 
  • In dining areas like the food hall or food court, pets should not be placed on top of tables and chairs. 
  • In restrooms, pets should not be placed on the diaper changer or baby seats. 

Robinsons Malls 

  • Pets are not allowed in cinemas, chapels, and other areas management may identify. 
  • Pet owners must observe and follow the separate pet policies of mall tenants. 
  • Pets should not be placed on top of dining tables and chairs. 

Ayala Malls 

  • Pets are prohibited within a ten-meter radius from an identified children’s equipment and playground. 
  • Other prohibited areas are those where a notice or signage is visible that such area/s is/are prohibited to pets. 

Araneta City 

  • Pets are only allowed inside merchant stores and restaurants with Pet Pals stickers at the entrance. 

 

Update vaccination status

All four have also specified the necessity of pet vaccination. 

SM Supermalls 

  • Ensure pets are properly vaccinated as required by law and health regulations. 

Robinsons Malls 

  • Pets must be adequately vaccinated before bringing them to the mall.

Ayala Malls  

  • Pet owners shall ensure that their pets are properly licensed and inoculated as may be required by ordinance, law, health regulations, or the malls’ guidelines. Pets which are first-time entrants and without updated vaccination records as may be required will not be permitted to enter. 

Araneta City 

  • All those who own a furry friend must ensure their animals are properly licensed and have up-to-date inoculations as required by ordinances, laws, or health regulations. All necessary vaccinations are expected to be acquired to protect the animal and those around them. 

 

Responsible pet ownership

SM Supermalls said that any person bringing their dogs into the mall assumes all liability, responsibility, and associated risks, jointly and individually, for any damage, disease, or injury to persons, other dogs, and/or property. 

Robinsons Malls adds that pets that are “aggressive or visibly sick” will not be allowed inside the mall. Mall security reserves the right to ask pet owners to bring their pets outside the mall premises should the pet exhibit behavior that may harm customers or damage mall properties.

Ayala Malls’ pet policy includes a table with a list of violations alongside their corresponding fines and penalties.

 

Pet Pawlicies:

SM Supermalls: CLICK HERE

Ayala Malls: CLICK HERE

Robinson’s Mall:

Patricia B. Mirasol

Israel planted explosives in 5,000 Hezbollah’s pagers, say sources

COLE KEISTER--UNSPLASH

 – Israel’s Mossad spy agency planted explosives inside 5,000 pagers imported by Lebanese group Hezbollah months before Tuesday’s detonations, a senior Lebanese security source and another source told Reuters.

The operation was an unprecedented Hezbollah security breach that saw thousands of pagers detonate across Lebanon, killing nine people and wounding nearly 3,000 others, including the group’s fighters and Iran’s envoy to Beirut.

The Lebanese security source said the pagers were from Taiwan-based Gold Apollo, but the company said it did not manufacture the devices, but were made by a European firm with the right to use its brand.

Iran-backed Hezbollah has vowed to retaliate against Israel, whose military declined to comment on the blasts.

The plot appears to have been many months in the making, several sources told Reuters.

The senior Lebanese security source said the group had ordered 5,000 beepers from Gold Apollo, which several sources say were brought into the country earlier this year.

Gold Apollo founder Hsu Ching-Kuang said the pagers used in the explosion were made by a company in Europe that had the right to use the Taipei-based firm’s brand, the name of which he could not immediately confirm.

“The product was not ours. It was only that it had our brand on it,” he told reporters on Wednesday, without naming the company which did make the devices.

The senior Lebanese security source identified a photograph of the model of the pager, an AP924, which like other pagers wirelessly receive and display text messages but cannot make telephone calls.

Hezbollah fighters have been using pagers as a low-tech means of communication in an attempt to evade Israeli location-tracking, two sources familiar with the group’s operations told Reuters this year.

But the senior Lebanese source said the devices had been modified by Israel’s spy service “at the production level.”

“The Mossad injected a board inside of the device that has explosive material that receives a code. It’s very hard to detect it through any means. Even with any device or scanner,” the source said.

The source said 3,000 of the pagers exploded when a coded message was sent to them, simultaneously activating the explosives.

Another security source told Reuters that up to three grams of explosives were hidden in the new pagers and had gone “undetected” by Hezbollah for months.

Israeli officials did not immediately respond to Reuters requests for comment.

Images of destroyed pagers analyzed by Reuters showed a format and stickers on the back that were consistent with pagers made by Gold Apollo.

Hezbollah was reeling from the attack, which left fighters and others bloodied, hospitalized or dead. One Hezbollah official, speaking on condition of anonymity, said the detonation was the group’s “biggest security breach” since the Gaza conflict between Israel and Hezbollah ally Hamas erupted on Oct. 7.

“This would easily be the biggest counterintelligence failure that Hezbollah has had in decades,” said Jonathan Panikoff, the U.S. government’s former deputy national intelligence officer on the Middle East.

 

BREAK YOUR PHONES, GROUP ORDERED

In February, Hezbollah drew up a war plan that aimed to address gaps in the group’s intelligence infrastructure. Around 170 fighters had already been killed in targeted Israeli strikes on Lebanon, including one senior commander and a top Hamas official in Beirut.

In a televised speech on Feb. 13, the group’s Secretary General Hassan Nasrallah sternly warned supporters that their phones were more dangerous than Israeli spies, saying they should break, bury or lock them in an iron box.

Instead, the group opted to distribute pagers to Hezbollah members across the group’s various branches – from fighters to medics working in its relief services.

The explosions maimed many Hezbollah members, according to footage from hospitals reviewed by Reuters. Wounded men had injuries of varying degrees to the face, missing fingers and gaping wounds at the hip where the pagers were likely worn.

“We really got hit hard,” said the senior Lebanese security source, who has direct knowledge of the group’s probe into the explosions.

The pager blasts came at a time of mounting concern about tensions between Israel and Hezbollah, which have been engaged in cross-border warfare since the Gaza conflict erupted last October.

While the war in Gaza has been Israel’s main focus since the Oct. 7 attack by Hamas-led gunmen, the precarious situation along Israel’s northern border with Lebanon has fueled fears of a regional conflict that could drag in the United States and Iran.

A missile barrage by Hezbollah the day after Oct. 7 opened the latest phase of conflict and since then there have been daily exchanges of rockets, artillery fire and missiles, with Israeli jets striking deep into Lebanese territory.

Hezbollah has said it does not seek a wider war but would fight if Israel launched one.

Israeli Defense Minister Yoav Gallant told U.S. Defense Secretary Lloyd Austin on Monday that the window was closing for a diplomatic solution to the standoff with the Iranian-backed Hezbollah movement in southern Lebanon.

Still, experts said they did not see the pager blasts as a sign that an Israeli ground offensive was imminent.

Instead, it was a sign of Israeli intelligence’s apparently deep penetration of Hezbollah.

“It demonstrates Israel’s ability to infiltrate its adversaries in a remarkably dramatic way,” said Paul Pillar, a 28-year veteran of the U.S. intelligence community, mainly at the CIA. – Reuters

ACG at 13: Driving global advocacy and thought leadership

On Sept. 18, the Asian Consulting Group (ACG) will celebrate its 13th anniversary, reflecting on its growth, innovation, and commitment to global tax reform.

Headed by its Chief Tax Advocate and Senior Advisor Mon Abrea, ACG has achieved many things throughout its storied history. Founded in 2011 as the Abrea Consulting Group, ACG grew into a leading provider of tax advisory services and tax advocacy education.

In 2012, the company started its first Tax Roadshow, going to universities across the country to talk about taxation and financial literacy.

By 2024, the roadshows have become a platform for ACG’s tax advocacies, with topics on financial literacy and investment for Filipinos living abroad.

Its humble beginnings had heightened the firm’s evolution into a global brand, becoming the first tax hub for companies in the Asia-Pacific region, and the success of the International Tax Conference and the 2024 International Tax and Investment Conference have helped it break barriers to new audiences.

Beyond its core services, ACG has made significant impact through its thought leadership and publications such as IWAS BUWISit, Reimagining the World Without Corruption, and his latest book, Why Invest in the Philippines?

Building from these efforts, ACG’s latest project, Fast Forward 2025, will explore F.A.S.T. (Fashion, Agriculture and Technology, Sustainable Communities, Travel, and Tourism) industries, and their contributions to sustainable business practice and tax policy.

In conjunction with Fast Forward, Abrea plans to release a new book based on his studies at Oxford, which aims to explore sustainable solutions in addressing the climate crisis.

As ACG celebrates its 13th anniversary, the company looks forward to continuing its journey of innovation, advocacy, and sustainable growth. Be a partner! Reach out and consult ACG via consult@acg.ph.

 


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IMF postpones scheduled consultations with Russia, says TASS, citing Russian director

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

The International Monetary Fund has postponed its planned consultation mission with Russia indefinitely because of technical issues, TASS agency cited Alexei Mozhin, Russia’s director at the IMF, as saying on Wednesday.

“The Fund’s management notified the Russian side and the board of directors that the mission’s work would be postponed indefinitely,” Mr. Mozhin said.

“Technical unpreparedness of the mission to conduct consultations was mentioned as the reason for postponing the mission.”

The IMF did not immediately respond to a request for comment.

Ukraine and its Western allies had objected to the mission to Russia on grounds that it would show relations with Russia to have been normalized despite the invasion and occupation of vast tracts of Ukrainian territory.

The IMF’s decision was communicated on Monday, the day the mission had intended to begin online consultations. These were to have been followed by an IMF delegation visit to Moscow for meetings with Russian officials.

It would have meant the IMF becoming the first major international financial body to send its official mission to Russia since the February 2022 invasion of Ukraine.

Mr. Mozhin said the Russian side was “well aware” that many European countries “had spoken out about the unacceptability of the resumption of cooperation between the IMF and Russia and the unacceptability of conducting such consultations”.

Preparations for conducting the consultations at issue had taken place more than a year ago and Russia, while never requesting a mission, was prepared to receive one as part of its obligations under IMF rules, Mr. Mozhin said.

The Russian side hereby again confirms its preparedness,” he added.

The IMF’s last annual mission visited Russia in November 2019, before the start of the COVID pandemic. There have been no IMF missions to Russia since the start of Russia’s war in Ukraine. – Reuters

 

FBI probing threatening letters sent to election officials in six states

A VIEW shows the seal of the Federal Bureau of Investigation (FBI) outside of the FBI’s Cincinnati Field Office in Cincinnati, Ohio, US, Aug. 11, 2022. — REUTERS

 – The FBI and the U.S. Postal Inspection Service are investigating suspicious packages that were sent to election officials in six states on Monday, the law enforcement agency said in a statement on Tuesday.

Officials in Nebraska, Iowa, Kansas, Tennessee, Wyoming and Oklahoma were targeted.

The FBI said some of the letters contained an unknown substance that was being examined. The sender of the letters identified themselves as the “US Traitor Elimination Army,” Colorado Secretary of State Jena Griswold said in a post on X.

The threats to election officials come just weeks before Americans go to the polls on Nov. 5 to choose between Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump. The country is deeply polarized and on edge amid an increase in political violence and two assassination attempts against Trump.

The FBI said it was working to identify those responsible as well as a motive. It was also working to determine how many letters had been sent in total.

Nebraska Secretary of State Robert Evnen’s office said its elections division had received a “suspicious” envelope with a substance inside. It said the substance had been tested and found to be non-hazardous.

The threats follow similar letters sent to election officials in several states in November. – Reuters

FILRT wins gold for sustainability at 2024 Stevie International Business Awards®

Filinvest REIT Corp. (FILRT) wins anew at the 2024 Stevie International Business Awards®, reaffirming its position as a sustainable REIT. FILRT earned a Gold Stevie® Award in the Sustainability Product of the Year – Asia, Australia, & New Zealand category.

This accolade follows FILRT’s previous achievement in 2023, when it earned a bronze title for Sustainability Leadership in Asia, Australia, and New Zealand at the Stevie International Business Awards (IBA). This consecutive recognition reinforces FILRT’s role as a trailblazer in sustainable office spaces and continues to highlight the Philippines on the global stage.

The International Business Awards (IBAs) are globally renowned for honoring excellence across various industries. This year’s competition attracted over 3,600 nominations from organizations spanning 62 nations and territories, competing in categories such as Company of the Year, Marketing Campaign of the Year, Best New Product or Service of the Year, Startup of the Year, Corporate Social Responsibility Program of the Year, and Executive of the Year, among others.

“We’ve long considered The International Business Awards to be the ‘Olympics for the workplace,’ and this year’s competition is the best-ever proof of that,” said Stevie Awards President Maggie Miller. “The winners have demonstrated that their organizations have set and achieved lofty goals.”

FILRT’s Gold Stevie® Award recognizes its sustainable office spaces, which integrate cutting-edge green technologies and practices. Judges commended FILRT for setting a new benchmark in the real estate sector, applauding its outstanding green initiatives and strong commitment to reducing environmental impact.

“We are always grateful and honored to be recognized. At FILRT, commitment to sustainability is at our core. We are committed to continuing our efforts to create more environmentally responsible and forward-thinking real estate solutions,” said FILRT President and CEO Maricel Brion-Lirio.

This award caps FILRT’s long list of sustainability initiatives. FILRT earned Excellence in Design for Greater Efficiencies (EDGE) certifications for seven of its office buildings and another five due at the end of this year, qualifying FILRT as an EDGE Champion. Earlier this year, FILRT also achieved 94% coverage of its office portfolio that is powered entirely by renewable energy. These milestones contributed to FILRT securing a gold award in its category at this year’s Stevie International Business Awards (IBA).

This recognition underscores FILRT’s progress and strong dedication to continuous improvement. FILRT strengthens its position as a leader in leasing out environmentally responsible and innovative commercial spaces by actively advancing the boundaries of sustainability in real estate that sets new industry standards.

For more information about Filinvest REIT Corp.’s sustainable office spaces and initiatives, please visit www.filinvestreit.com or email info@filinvestreit.com.


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US decision on Nippon bid for US Steel pushed back until after election

Source: https://www.ussteel.com/media/video-image-library

The U.S. national security panel reviewing Nippon Steel’s $14.9 billion bid for U.S. Steel will let the companies refile their application for approval of the deal, a person familiar with the matter said, delaying a decision on the politically sensitive merger until after the presidential election.

The move offers a ray of hope for the companies, whose proposed deal appeared set to be blocked when the Committee on Foreign Investment in the United States (CFIUS) alleged on Aug. 31 the transaction posed a risk to national security by threatening the steel supply chain for critical U.S. industries.

CFIUS needs more time to understand the deal’s impact on national security and engage with the parties, the person said on Tuesday. Refiling sets a new 90-day clock to review the proposed tie-up and make a decision.

Nippon Steel declined to comment. CFIUS and U.S. Steel did not immediately respond to requests for comment from Reuters.

“Extending the timeline takes some pressure off the parties and, importantly, pushes the decision past the election in November,” said Nick Klein, a CFIUS lawyer with DLA Piper.

The deal has become a political hot potato. This month, Vice President and Democratic presidential candidate Kamala Harris said at a rally in Pennsylvania, the swing state where U.S. Steel is headquartered, that she wants U.S. Steel to remain “American owned and operated.”

The White House said on Tuesday that President Joe Biden and Harris continued to believe that U.S. Steel should remained domestically owned and operated.

Ms. Harris’ Republican rival Donald Trump has pledged to block the deal if elected. Both candidates have sought to woo union votes.

The United Steelworkers Union, which vehemently opposes the deal, said on Tuesday “nothing has changed regarding the risks that Nippon’s acquisition would pose to national security or the critical supply chain concerns that have already been identified.”

CFIUS is concerned Nippon Steel’s merger could hurt the supply of steel needed for critical transportation, construction and agriculture projects, it said in its August letter to the companies, exclusively obtained by Reuters.

It also cited a global glut of cheap Chinese steel, and said that under Nippon, a Japanese company, U.S. Steel would be less likely to seek tariffs on foreign steel importers. It added that decisions by Nippon could “lead to a reduction in domestic steel production capacity.”

In a 100-page response letter to CFIUS, Nippon Steel said it will invest billions of dollars to maintain and boost U.S. Steel facilities that otherwise would have been idled, “indisputably” allowing it to “maintain and potentially increase domestic steelmaking capacity in the United States.”

The company also reaffirmed a promise not to transfer any U.S. Steel production capacity or jobs outside the U.S. and would not interfere in any of U.S. Steel’s decisions on trade matters, including decisions to pursue trade measures under U.S. law against unfair trade practices.

The deal, Nippon added, would “create a stronger global competitor to China grounded in the close relationship between U.S. and Japan.”

The expected demise of the deal in late August prompted an outpouring of support, including a letter from business groups such as the U.S. Chamber of Commerce, raising concerns the transaction was being influenced by political pressure. – Reuters

Biden calls on Sudan’s warring parties to re-engage in negotiations

US PRESIDENT JOE BIDEN/FACEBOOK

 – US President Joe Biden on Tuesday called on Sudan’s warring parties to re-engage in negotiations to end a war that has been ongoing for more than 17 months.

“We call for all parties to this conflict to end this violence and refrain from fueling it, for the future of Sudan and for all of the Sudanese people,” Mr. Biden said in a statement.

“I call on the belligerents responsible for Sudanese suffering—the Sudanese Armed Forces (SAF) and the Rapid Support Forces (RSF)—to pull back their forces, facilitate unhindered humanitarian access, and re-engage in negotiations to end this war.”

More than 12,000 people have been killed across Sudan since the war started on April 15, 2023.

The conflict began when competition between Sudan’s army and the paramilitary Rapid Support Forces (RSF), which had previously shared power after staging a coup, flared into open warfare.

Mr. Biden said the RSF’s assault is disproportionately harming Sudanese civilians and called on the armed forces to stop “indiscriminate” bombings that are destroying civilian lives and infrastructure.

The U.S. previously determined that the two sides committed war crimes and sanctioned 16 individuals and entities tied to the war.

Mr. Biden said the United States will continue to evaluate further atrocity allegations and potential additional sanctions. – Reuters

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