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Peso ends unchanged as market awaits US consumer inflation report

BW FILE PHOTO

THE PESO ended flat against the dollar on Tuesday as the market stayed cautious before the release of US consumer inflation data.

The local unit closed at P58.01 per dollar on Tuesday, unchanged from Monday’s finish, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session slightly stronger at P57.97 against the dollar. Its intraday best was at P57.90, while its worst showing was at P58.03 versus the greenback.

Dollars exchanged went down to $1.17 billion on Tuesday from $1.33 billion on Monday.

The peso-dollar pair “traded cautiously due to the lack of catalysts ahead of the US inflation data,” a trader said by phone.

The local unit continued to get support from the seasonal increase in remittances from overseas Filipinos ahead of the holidays, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Wednesday, the trader sees the peso moving between P57.70 and P58.10 per dollar, while Mr. Ricafort expects the local unit to range from P57.90 to P58.10.

The US dollar was steady against its major rivals and edged to its strongest this month versus the yen as traders looked ahead to a US inflation reading on Wednesday for further clues on the pace of US Federal Reserve easing, Reuters reported.

The dollar index, which measures the currency against the yen and five other major peers, rose 0.1% to 106.28.

It had climbed to a two-year peak of 108.09 on Nov. 22, lifted by expectations that Donald J. Trump’s election victory would drive US growth and stoke inflation, potentially slowing Fed rate cuts.

While markets have priced in a quarter-point Fed rate cut on Dec. 18 as a near certainty, the consumer price index due on Wednesday could shine light on how much room policy makers have for easing next year.

Market participants see little action before a busy second half of the week with the US data and the European Central Bank policy meeting. — Aaron Michael C. Sy with Reuters

La Salle fights for its life in Game 2 of UAAP S87 finals

DE LA SALLE UNIVERSITY GREEN ARCHERS — UAAP/NICOLE HERNANDEZ

Games on Wednesday
(Mall of Asia Arena)
10 a.m. – UE vs UST (JHS Finals Game 1)
1 p.m. – UST vs NU (Women’s Finals Game 2)
5:30 p.m. – UP vs DLSU (Men’s  Finals Game 2)

HOST University of the Philippines (UP) goes for the jugular while reigning champion De La Salle University fights for its dear life in the closeout Game 2 of the UAAP Season 87 men’s basketball finals on Wednesday at the Mall of Asia Arena.

The Maroons, who had back-to-back bridesmaid finishes in four straight finals appearances, moved closer to a triumphant redemption bid by eking out a 73-65 win in Game 1 for a running start in a quick best-of-three race.

And that handsome opportunity is here for the taking at 5:30 p.m. right after National University’s (NU) similar bid in the women’s basketball finals against champion University of Santo Tomas at 1 p.m. 

Like UP, former seven-peat champion NU scored a 72-71 escape act in Game 1 to boost its aspirations of reclaiming the throne it held for seven straight seasons until last year.

But the biggest pressure is on the Maroons, who stare at a similar but scary situation for the third straight season — with an expected fiery vengeance from the Archers.

UP, under then prized high school mentor Goldwin Monteverde, snapped a 36-year title drought by ending Ateneo de Manila University’s three-peat reign in Season 84 on JD Cagulangan’s iconic game-winning trey.

The Maroons went on to settle for second place against Ateneo and La Salle in Seasons 85 and 86, respectively, despite winning Game 1 — making it a perfect chance to dodge history and make its own for Diliman at last.

“We never dwell on the past so right now, as I said, part of the process of winning a championship is winning Game 1,” said Mr. Monteverde, banking on an array of heroes led by Game 1 star Quentin Millora-Brown.

“We got Game 1 now so we’re gonna do our best in Game 2. Whatever comes our way, we’re gonna face the challenge there.”

La Salle, indeed, is very much capable of giving that challenge with a familiarity to the adversity after losing by 30 points in Game 1 last season only to win the next two games to stun UP and hoist its first title in eight years.

And the Archers are ready to do it one more time.

“We just need to get back in Game 2. There’s a reason why this is a series. You don’t win a championship by winning one game, you need two games. So we still have a chance as we’ve been in this situation before,” he vowed.

“We just have to keep on being positive and try to learn from this experience. Again that’s a tough team we played, we just have to slug it out in the end.”

To do that though, the Archers would need a massive rebound from presumptive MVP Kevin Quiambao, who bled for a single point without a field goal in the second half of Game 1, where the Maroons ran away unopposed. — John Bryan Ulanday

Aryna Sabalenka named WTA Player of the Year

ARYNA SABALENKA — REUTERS

ARYNA SABALENKA has been voted the WTA Player of the Year for the first time after the Belarusian won two Grand Slam titles and secured the year-end world number one ranking, the governing body of women’s tennis said.

After successfully defending her Australian Open trophy in January, Sabalenka won the US Open crown in September for her third Grand Slam title and leapfrogged Iga Swiatek to top the world rankings a month later.

She also won tournaments in Cincinnati and Wuhan to end her 2024 campaign with four titles.

International tennis media also voted for Paris Olympics gold medallists Sara Errani and Jasmine Paolini as the year’s top doubles team, while American Emma Navarro was named the season’s most improved player.

Ranked 38th at the end of 2023, Navarro broke into the top 10 in September after winning her first title in Hobart and making six semi-final appearances, including at Flushing Meadows, during the season.

Lulu Sun won the Newcomer of the Year award following the New Zealander’s run to the quarter-finals at Wimbledon as a qualifier, which helped her climb to 40th in the world after being ranked outside the top 200 in January.

Former world number two Paula Badosa, who ended her 2023 season early due to a back problem that cast doubt about her future in the game, was named Comeback Player of the Year.

After returning to the tour this season, the Spaniard won the Washington title and also matched her best Grand Slam performance by reaching the US Open quarters to finish the year ranked 12th. — Reuters

Lionel Messi excluded as Jude Bellingham and Real Madrid players dominate FIFPRO honors

SIX players from Champions League winners Real Madrid and four from Manchester City feature in this year’s FIFPRO World 11 announced on Monday by the global players’ association, with Lionel Messi absent for the first time in almost 20 years.

The 2024 FIFPRO World 11 is the first edition since 2006 to exclude Messi. The Argentinian, who holds the all-time record with 17 selections, was replaced in the front row by Erling Haaland, Kylian Mbappe and Vinicius Jr.

Jude Bellingham topped the men’s overall voting, with the Real Madrid and England midfielder receiving 11,176 selections from his peers.

Liverpool defender Virgil van Dijk was the sole player outside of Real and City included in the men’s team of the year.

English players led the 2024 Women’s World 11 with five selected: Lucy Bronze, Mary Earps, Alex Greenwood, Lauren James, and Keira Walsh.

Bronze’s seventh selection tied her with Wendie Renard for the women’s appearance record. Zambian Barbra Banda became the first African player in the Women’s World 11.

MEN’S WORLD 11
Goalkeeper: Ederson (Manchester City, Brazil)

Defenders: Dani Carvajal (Real Madrid, Spain), Virgil van Dijk (Liverpool, Netherlands), Antonio Rudiger (Real Madrid, Germany)

Midfielders: Jude Bellingham (Real Madrid , England), Kevin De Bruyne (City, Belgium), Toni Kroos (Real Madrid, Germany), Rodri (City, Spain)

Forwards: Erling Haaland (City, Norway), Kylian Mbappe(Paris St-Germain/Real Madrid, France), Vinicius Jr (Real Madrid, Brazil)

WOMEN’S WORLD 11
Goalkeeper: Mary Earps (Manchester United/Paris St-Germain, England)

Defenders: Lucy Bronze (Barcelona/Chelsea, England), Olga Carmona (Real Madrid, Spain), Alex Greenwood (City, England)

Midfielders: Aitana Bonmati (Barcelona, Spain), Alexia Putellas (Barcelona, Spain), Keira Walsh (Barcelona, England)

Forwards: Barbra Banda (Shanghai Shengli/Orlando Pride, Zambia), Linda Caicedo (Real Madrid, Colombia),Lauren James (Chelsea, England), Marta (Orlando Pride, Brazil) — Reuters

Karl-Anthony Towns takes over late as Knicks top Raptors

KARL-ANTHONY TOWNS scored the go-ahead layup in the final minute and had 24 points and 15 rebounds as the visiting New York Knicks defeated the Toronto Raptors 113-108 on Monday night.

Towns followed his key basket with a 3-pointer to clinch New York’s fifth win in its past six games.

Mikal Bridges added 23 points for New York, Jalen Brunson had 20 points and 11 assists, Josh Hart scored 10 points, and former Raptor OG Anunoby had 14 points and three blocked shots.

Former Knicks RJ Barrett scored 30 points for the Raptors. Scottie Barnes scored 15 points before leaving the game with an ankle injury in the third quarter. Jakob Poeltl had 10 points and 12 rebounds and Ja’Kobe Walter scored a career-best 19 points off the bench.

The Knicks led 34-27 after one quarter and used a 7-0 spurt to lead by 11 points with 7:18 to play in the second quarter. Toronto scored 13 straight points to take a 55-53 lead with 2:35 remaining. The Raptors led 61-60 at halftime after Brunson missed two free throws with six seconds remaining.

Barnes hit consecutive 3-pointers to give Toronto a five-point lead with 8:23 to play in the third quarter.

Barnes and Towns were both down on the floor after tangling feet with 6:47 to play in the third. Barnes, who was called for a foul on the play, limped to the dressing room. Towns stayed on the court and made two free throws. Barnes (sprained right ankle) did not return. Toronto led 86-83 after three quarters.

New York took a two-point lead on a 3-pointer by Towns with 5:12 to go in the game. Barrett tied the game on a layup and Davion Mitchell’s 3-pointer gave Toronto a 104-101 lead.

Brunson converted a four-point play to put New York ahead by one with 3:03 left. Toronto regained the lead on Mitchell’s layup but Bridges answered with a 3-pointer with 1:38 left. Barrett’s layup tied the game with 42 seconds remaining, setting up the final sequence in which Towns put the game away. — Reuters

Mavericks, Thunder continue growing rivalry in NBA Cup quarters

LUKA DONCIC of the Dallas Mavericks and Shai Gilgeous-Alexander of the Oklahoma City Thunder are among the NBA’s brightest stars. Both finished in the top three of Most Valuable Player voting last season, with Gilgeous-Alexander finishing second and Doncic third.

On Tuesday, the Mavericks and host Thunder square off in the first round of the NBA Cup’s knockout stage.

The game is a rematch of last season’s second-round playoff series, which Dallas won 4-2.

Doncic has been particularly hot since returning from a right wrist sprain that kept him out five games in late November. In four games since his return, Doncic is averaging 31 points, 10.5 rebounds and 9.5 assists per game.

Doncic comes into Tuesday’s game with two consecutive triple-doubles.

In Saturday’s win at the Toronto Raptors, Doncic had 30 points, 13 rebounds and 11 assists to move past Wilt Chamberlain and James Harden and into seventh on the NBA’s all-time triple-double list with 79.

In last season’s playoff matchup, Gilgeous-Alexander averaged 32.2 points, 8 rebounds and 7.3 assists. Doncic averaged 24.7 points, 10.5 rebounds and 8.7 assists, with a triple-double in each of the final three games of the series.

Gilgeous-Alexander has scored at least 30 points in six of his past seven games this season.

Oklahoma City has won seven of its past eight games, including three consecutive, while the Mavericks enter the contest as the NBA’s hottest team with seven straight wins.

Tuesday’s game, which also counts in the regular-season standings, will be the second between the teams this season.

Doncic missed the Mavericks’ 121-119 win on Nov. 17 in Oklahoma City with a bruised right knee. P.J. Washington had 27 points and a career-high 17 rebounds in that game for Dallas.

That tight game has become the norm for the series as of late, as six of the past nine regular-season meetings between the teams have been decided by single digits. — Reuters

Browns to keep Jameis Winston as starting QB despite no playoffs

THE Cleveland Browns have no mathematical chance to make the playoffs, but their focus remains on winning games rather than evaluating talent on the bench, according to coach Kevin Stefanski.

The Browns will keep Jameis Winston as the starting quarterback (QB) this week when they host the Kansas City Chiefs, Stefanski said Monday.

With Deshaun Watson lost for the season due to a ruptured right Achilles tendon, the alternative to Winston would be to start 2023 fifth-round draft pick Dorian Thompson-Robinson, who made three starts during his rookie campaign. — Reuters

T-Wolves tinkering

From a purely basketball standpoint, it’s hard to dispute the contention that the Timberwolves should not have traded Karl-Anthony Towns to the Knicks in the offseason. After all, they did reach the 2024 Western Conference Finals on the strength of his hefty contributions, not to mention his chemistry with the rest of the lineup that included such notables as Anthony Edwards and Rudy Gobert. And given the strides they made and their capacity to stand toe to toe with the best of the best of the National Basketball Association, the safe option would have been to stick with the status quo.

Unfortunately, the state of the Timberwolves’ finances juxtaposed with restrictive provisions in the collective bargaining agreement precluded them from maintaining the roster and running it back. With Towns in the middle of a $224-million supermax contract extension he signed in 2022, salary cap constraints would have ultimately compelled them to choose between him and vital cogs Naz Reid and Nickeil Alexander-Walker. Faced with the inevitable, they chose to accelerate the timeline and deal him to the Knicks in favor of Julius Randle and Donte DiVincenzo.

Fast forward to today, and the Timberwolves are decidedly worse on the court as a result of their decision off it. Their offensive rating has gone down to 111.8 from 114.6 in Towns’ absence and amid lower production from their new acquisitions, DiVincenzo in particular. Meanwhile, their defensive rating has stayed the same despite the supposed infirmities of their number one overall pick in 2015 on that end of the floor. Bottom line, the changes — and head coach Chris Finch’s seeming inability to make the most of his new roster — have them in play-in territory a fourth into the season.

True, there is still more than enough time for the Timberwolves to develop the esprit the corps that made them exceed themselves collectively through their 2023-24 campaign. On the other hand, the Western Conference is so competitive that any swoon figures to hurt them in the end. Which is why they need to get their act together, and fast; if nothing else, their poor performance against the Warriors in the crunch the other day underscores their unhealthy overreliance on Edwards.

In any case, the Timberwolves may not yet be done with their tinkering, especially with Randle able to exercise an option to enter free agency next year. They’re being prudent, to be sure, and in the face of the Celtics’ runaway payroll and impending ownership change, who’s to blame them? Until then, they’re hard-pressed to make the most of what they have.

 

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.

China sends largest naval fleet in decades to region, Taiwan says

CHINESE AND TAIWANESE flags are seen in this illustration, Aug. 6, 2022. — REUTERS

TAIPEI — China is deploying its largest navy fleet in regional waters in nearly three decades, posing a threat to Taiwan that is more pronounced than previous Chinese war games, the Taiwanese defense ministry said on Tuesday.

Speaking in Taipei, defense ministry spokesperson Sun Li-fang said the scale of the current Chinese naval deployment in an area running from the southern Japanese islands down into the South China Sea was the largest since China held war games around Taiwan ahead of 1996 Taiwanese presidential elections.

China’s military has yet to comment and has not confirmed it is carrying out any exercises.

China, which views democratically governed Taiwan as its own territory over the island’s rejection, had been expected to launch drills to express its anger at President Lai Ching-te’s tour of the Pacific that ended on Friday, which included stopovers in Hawaii and the US territory of Guam.

Taiwan’s military raised its alert on Monday after saying China had reserved airspace and deployed naval and coast guard vessels.

“The current scale is the largest compared to the previous four,” Sun said. “Regardless of whether they have announced drills, they are posing a great threat to us.”

Senior ministry intelligence officer Hsieh Jih-sheng told the same press conference there have so far been no live fire drills in China’s seven “reserved” air space zones, two of which are in the Taiwan Strait, but there had been a significant increase in Chinese activity to the north of Taiwan over the last day.

The number of China navy and coast guard ships in the region, which a Taiwan security source told Reuters remained at around 90, was “very alarming,” and China was taking aim at other countries in the region and not only Taiwan, he added.

China’s deployment in the First Island Chain — which runs from Japan through Taiwan, the Philippines and on to Borneo, enclosing China’s coastal seas — is aimed at area denial to prevent foreign forces from interfering, Mr. Hsieh said.

INTERNAL SEA
The ministry said China’s navy is building two “walls” in the Pacific, one at the eastern end of Taiwan’s Air Defense Identification Zone and the other further out in the Pacific.

“They are sending a very simple message with these two walls: trying to make the Taiwan Strait an internal sea” of China, said Mr. Hsieh.

Earlier on Tuesday, the defense ministry said it detected 47 military aircraft operating around the island over the past 24 hours, as well as 12 navy vessels and nine “official” ships, which refers to vessels from ostensibly civilian agencies such as the coast guard.

Of the aircraft, 26 flew in an area to the north of Taiwan off the coast of China’s Zhejiang province, six in the Taiwan Strait and a further 15 to the island’s southwest, according to a map the ministry provided in its daily morning statement on Chinese activities.

A senior Taiwan security source told Reuters that the Chinese aircraft simulated attacks on foreign naval ships and practiced driving away military and civilian aircraft as part of a “blockade exercise.”

Mr. Lai and his government reject Beijing’s sovereignty claims, saying only Taiwan’s people can decide their future.

China says the Taiwan issue is the “core of its core interests” and a red line the United States should not cross.

China has held two rounds of major war games around Taiwan so far this year. — Reuters

Webb telescope confirms the universe is expanding at an unexpected rate

THIS IMAGE shows the Cosmic Cliffs, the edge of a nearby, young, star-forming region NGC 3324 in the Carina Nebula, 7,600 lightyears away. This was captured in infrared light by the Near-Infrared Camera on NASA’s James Webb Space Telescope, and released on July 12. — NASA, ESA, CSA, STSCI

WASHINGTON — Fresh corroboration of the perplexing observation that the universe is expanding more rapidly than expected has scientists pondering the cause — perhaps some unknown factor involving the mysterious cosmic components dark energy and dark matter.

Two years of data from NASA’s James Webb Space Telescope have now validated the Hubble Space Telescope’s earlier finding that the rate of the universe’s expansion is faster — by about 8% — than would be expected based on what astrophysicists know of the initial conditions in the cosmos and its evolution over billions of years. The discrepancy is called the Hubble Tension.

The observations by Webb, the most capable space telescope ever deployed, appear to rule out the notion that the data from its forerunner Hubble was somehow flawed due to instrument error.

“This is the largest sample of Webb Telescope data — its first two years in space — and it confirms the puzzling finding from the Hubble Space Telescope that we have been wrestling with for a decade — the universe is now expanding faster than our best theories can explain,” said astrophysicist Adam Riess of Johns Hopkins University in Maryland, lead author of the study published on Monday in the Astrophysical Journal.

“Yes, it appears there is something missing in our understanding of the universe,” added Mr. Riess, a 2011 Nobel laureate in physics for the co-discovery of the universe’s accelerating expansion. “Our understanding of the universe contains a lot of ignorance about two elements — dark matter and dark energy — and these make up 96% of the universe, so this is no small matter.”

“The Webb results can be interpreted to suggest there may be a need to revise our model of the universe, although it is very difficult to pinpoint what this is at the moment,” said Siyang Li, a Johns Hopkins doctoral student in astronomy and astrophysics and a study co-author.

Dark matter, thought to comprise about 27% of the universe, is a hypothesized form of matter that is invisible but is inferred to exist based on its gravitational effects on ordinary matter — stars, planets, moons, all the stuff on Earth — which accounts for roughly 5% of the universe.

Dark energy, believed to comprise approximately 69% of the universe, is a hypothesized form of energy permeating vast swathes of space that counteracts gravity and drives the universe’s accelerating expansion.

What might explain the anomalous expansion rate?

“There are many hypotheses that involve dark matter, dark energy, dark radiation — for example, neutrinos (a type of ghostly subatomic particle) — or gravity itself having some exotic properties as possible explanations,” Mr. Riess said.

The researchers employed three different methods to measure a specific telltale metric — distances from Earth to galaxies where a type of pulsating star called Cepheids have been documented. The Webb and Hubble measurements were in harmony.

The universe’s expansion rate, a figure called the Hubble constant, is measured in kilometers per second per megaparsec, a distance equal to 3.26 million light-years. A light-year is the distance light travels in a year, 5.9 trillion miles (9.5 trillion km).

Under the standard model of cosmology — basically, the conventional wisdom concerning the universe — the value of the Hubble constant should be about 67-68. The Hubble and Webb data give a value averaging about 73, with a range of about 70-76.

The Big Bang event 13-14 billion years ago initiated the universe, and it has been expanding ever since. Scientists in 1998 disclosed that this expansion was actually accelerating, with dark energy as the hypothesized reason.

The new study looked at Webb data covering about a third of Hubble’s full slate of relevant galaxies. The researchers in 2023 announced that earlier interim Webb data validated the Hubble findings.

So how might this Hubble Tension mystery be solved?

“We need more data to better characterize this clue. Exactly what size is it (the discrepancy)? Is the mismatch at the lower end — 4-5% — or the higher end — 10-12% — of what the current data allows? Over what range of cosmic time is it present? These will further inform ideas,” Mr. Riess said. — Reuters

Syria’s rebels work to form government, restore order after Assad ouster

UNSPLASH

DAMASCUS/NEW YORK — The lightning overthrow of President Bashar al-Assad left Syrians, countries in the region and world powers nervous on Tuesday about what comes next as the rebel alliance took its first steps in a government transition.

The United Nations (UN) Security Council met behind closed doors late on Monday, and diplomats said they were still in shock at how quickly Assad’s overthrow unfolded over 12 days, after a 13-year civil war that was locked in stalemate for years.

“Everyone was taken by surprise, everyone, including the members of the council. So we have to wait and see and watch … and evaluate how the situation will develop,” Russian UN Ambassador Vassily Nebenzia told reporters after the body met.

Russia played a major role in supporting Mr. Assad’s government and helping it fight the rebels. The Syrian leader fled Damascus for Moscow on Sunday, ending more than 50 years of brutal rule by his family.

With the mood in Damascus still celebratory, Mr. Assad’s prime minister, Mohammed Jalali, on Monday agreed to hand power to the rebel-led Salvation Government, an administration based in rebel-held territory in northwest Syria.

The main rebel commander Ahmed al-Sharaa, better known as Abu Mohammed al-Golani, met with Jalali and Vice-President Faisal Mekdad to discuss the transitional government, a source familiar with the discussions told Reuters. Jalali said the handover could take days to carry out.

Al Jazeera television reported the transitional authority would be headed by Mohamed al-Bashir, who has headed the Salvation Government.

The steamroller advance of the militia alliance headed by Hayat Tahrir al-Sham (HTS), a former al-Qaeda affiliate, was a generational turning point for the Middle East.

The civil war that began in 2011 killed hundreds of thousands, caused one of the biggest refugee crises of modern times and left cities bombed to rubble, countryside depopulated and the economy hollowed out by global sanctions.

But the rebel alliance has not communicated plans for Syria’s future, and there is no template for such a transition in the fractious region.

Oil prices rose more than 1% on Monday, partly on concerns that instability in Syria, which is not a major oil producer, could raise regional tensions, analysts said.

“This is an incredible moment for the Syrian people,” Deputy US Ambassador to the UN Robert Wood said in New York. “Now we’re really focused right now on trying to see where the situation goes. Can there be a governing authority in Syria that respects the rights and dignities of the Syrian population?”

The US was seeking ways to engage with Syrian rebel groups and is reaching out to partners in the region such as Turkey to start informal diplomacy, Washington said.

Qatari diplomats spoke with HTS on Monday, an official briefed on the developments told Reuters, as regional states race to open contact with the group.

‘FREEDOM, EQUALITY, RULE OF LAW’
Some insurgent fighters who milled about the capital on Monday, clustering in the central Umayyad Square, expressed hope a civilian administration would soon be running the country.

“We want the state and security forces to be in charge,” said Firdous Omar, a fighter who intends to resume farming in provincial Idlib.

Golani has vowed to rebuild Syria, and HTS has spent years trying to soften its image to reassure foreign nations and minority groups within Syria.

But fears of reprisals remained. HTS said it will not hesitate to hold security and army officers involved in torturing the Syrian people accountable, describing them as criminals and murderers.

“We will release a list that includes the names of the most senior officials involved in the torturing of the Syrian people,” Golani said in a statement. “Rewards will be offered to those who will provide information about senior army and security officers involved in war crimes.”

HTS is designated as a terrorist organization by many states and the UN, and its governing credentials are uncertain.

“Syrians are looking forward to establishing a state of freedom, equality, rule of law, democracy, and we will join efforts to rebuild our country, to rebuild what was destroyed, and to rebuild the future, better future of Syria,” Syria’s UN Ambassador Koussay Aldahhak told reporters.

There were tentative signs of a return to order. Syria’s banks will reopen on Tuesday, and the oil ministry called on all employees in the sector to head to work on Tuesday, adding that protection would be provided to ensure their safety.

In one of many challenges facing Syria, Israel seized a buffer zone in the country’s south, a move condemned by Egypt, Qatar and Saudi Arabia. Saudi Arabia said the move would “ruin Syria’s chances of restoring security.”

Israel said its airstrikes would carry on for days but told the UN Security Council that it was not intervening in Syria’s conflict. It said it had taken “limited and temporary measures” solely to protect its security. — Reuters

EU countries want vaping included in bloc’s tobacco tax law

REUTERS

BRUSSELS — Sixteen European Union (EU) countries asked the European Commission on Monday to propose a new law in the coming months on taxing tobacco in the bloc to include new products such as electronic cigarettes — vapes — which are not covered under existing legislation.

The initiative, led by the Netherlands, has the support of Croatia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Latvia, Slovakia, Spain, Belgium, Bulgaria, Ireland, Slovenia and Portugal.

In a letter to the Commission, finance ministers from the countries say an update to the bloc’s 2011 EU tobacco taxation law is needed because — in the absence of EU regulations on vaping — each country now applies different rules and levels of excise tax, distorting the bloc’s single market.

“Based on the current directive, most of these products cannot be taxed like traditional tobacco products. The provisions of the current directive are insufficient or too narrow to meet the challenges faced by the administrations of Member States given the ever-evolving offerings of the tobacco industry,” said the joint letter, seen by Reuters.

“Due to shortcomings in the EU legislation, Member States have taken appropriate actions at the national level. This has led to fragmentation, an uneven playing field and, ultimately, to the distortion of our internal market,” it said.

An update to the EU tobacco taxation law was due at the end of 2022, but has been delayed and governments want the new Commission, which took office on Dec. 1 for the next five years, to address this urgently.

The European Commission has so far set regulatory standards for e-cigarettes, including limits on nicotine content and labels explaining they should not be used by non-smokers. Manufacturers must register with the government before selling.

But otherwise the rules differ from country to country. In France people under the age of 18 cannot buy vapes, and their use is banned in certain public places, including universities and on public transport.

Italy lifted a ban on using electronic cigarettes in public in 2013. Use in or near schools is still forbidden. Disposable vapes have attracted particular attention from lawmakers in some European Union countries amid environmental and health concerns. France has moved to ban them entirely.

The German Federal Council, the upper house of parliament, has called on the government to push for a similar ban on disposable vapes across the EU.

Tobacco company Imperial Brands, which makes vape brand blu, said harmonizing EU rules on taxation would probably have a positive impact for consumers and manufacturers, provided vape taxes remained lower than those on cigarettes.

“We believe that proportionate excise can play a role in effective regulation of vaping,” it said. — Reuters