Manila bulletin

More than 80 fire trucks were sent to the decades-old landmark after the blaze broke out late Sunday, the Bureau of Fire Protection said. Thick, black smoke billowed hundreds of metres into the sky as flames gutted the neo-classical Manila Central Post Office that overlooks the Pasig River. It took firefighters more than seven hours to get the inferno under control. "The whole building has burned down from the basement all the way to the fifth floor," Postmaster General Luis Carlos told DZBB radio. The cause of the blaze was being investigated, he said. Fire brigades from across the capital deployed personnel to fight the blaze that left one volunteer firefighter with minor injuries. Originally built in 1926, the post office was once considered the "grandest building" in Manila, according to its website. It was destroyed in World War II as U.S. forces recaptured the capital from Japanese occupation forces, and rebuilt in 1946. Letters, parcels and the postal agency's … [Read more...] about Fire destroys historic Philippine post office building

Most markets rose Monday ahead of US debt talks between President Joe Biden and congressional leaders, with both sides still apart but also confident a deal can be reached to avert a catastrophic default. Sentiment was also being supported by hopes the Federal Reserve will stand pat on interest rates at its next gathering, and Biden saying China-US relations should see a thaw "very shortly". After returning from the G7 summit in Japan, Biden will meet Republican House Speaker Kevin McCarthy at the White House, with a warning that the government could run out of cash as soon as June 1. But while there is a broad expectation that an agreement will be found, Biden insisted he would not give in to demands for spending cuts, saying they were "frankly unacceptable". "It's time for the other side to move from their extreme positions," he said. For his part, McCarthy said his position remained unchanged, tweeting: "Washington cannot continue to spend money we do not have at the … [Read more...] about Markets advance ahead of US debt talks

Optimism that the United States will avert a calamitous default supported equities Tuesday, with President Joe Biden and House Speaker Kevin McCarthy saying they held productive talks on the debt ceiling. With just weeks to go before the country runs out of cash, the standoff has become the key topic on trading floors on fears that a US failure to pay its bills will send shockwaves through markets and the global economy. Months of negotiations have failed to break the deadlock and lift the borrowing limit from the current $31.8 trillion, but things appear to be moving in the right direction after a series of Biden-McCarthy meetings. After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have an agreement yet, but I did feel the discussion was productive in areas (where) we have differences of opinion." He added that negotiators would "work through the night" to move the sides closer and that he and Biden would … [Read more...] about Markets mostly rise after ‘productive’ Biden-McCarthy debt talks

Vietnam has required that China pull its survey vessel Xiang Yang Hong 10, Coast Guard vessels, and fishing ships from Vietnamese waters, Pham Thu Hang, deputy spokeswoman of the Vietnamese Ministry of Foreign Affairs said on Thursday. Hang affirmed that survey vessel Xiang Yang Hong 10, Coast Guard vessels, and fishing ships flying Chinese flags had entered Vietnam’s exclusive economic zone in the East Vietnam Sea. The Vietnamese Ministry of Foreign Affairs and relevant agencies have dialogued with the Chinese side many times and conducted measures in line with international and Vietnamese law to ensure the legitimate rights and interests of Vietnam. Vietnam requests that relevant agencies on the Chinese side comply with the common perceptions of the two countries' leaders, immediately stop all violations, and respect Vietnamese sovereign rights and jurisdiction. The Southeast Asian country also urged the northern neighbor to strictly implement the Declaration on the … [Read more...] about Vietnam demands China withdraw vessels from the former’s waters

Markets mostly rose Monday on news that President Joe Biden and House Speaker Kevin McCarthy have reached a deal to lift the US debt ceiling and avoid a calamitous default. After weeks of wrangling, the two announced that an agreement had finally been reached and urged lawmakers on both sides of the aisle to vote for it before the government runs out of cash on June 5. However, there is some nervousness on trading floors as the bill contains plenty of elements that are likely to anger Democrats and Republicans alike. For now, dealers are upbeat as the breakthrough lifts the threat of a debt default by the United States that economists warn could hammer the global economy and cause market turmoil. The bill will suspend the debt ceiling until January 1, 2025, and place curbs on federal spending that will please some Republicans, but it does not deliver the big cuts right-wingers wanted and progressive Democrats would have balked at. "The agreement prevents the worst possible … [Read more...] about Most markets rally as traders welcome US debt deal

Asian investors traded nervously Tuesday as they kept an eye on Washington, where lawmakers are expected to vote this week on a deal to hike the US debt ceiling and avoid a painful default. President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement at the weekend that saw both sides give ground, a week before a June 5 deadline when the government is expected to run out of cash to pay its bills. The news provided some much-needed relief to markets, but now the two leaders must convince waverers on both sides to back the deal, with the House expected to vote Wednesday followed by the Senate. Ultra-conservative Republicans feel McCarthy should have secured far deeper spending cuts in exchange for raising the debt ceiling and allowing the government to keep borrowing. The left wing of the Democratic Party is equally unhappy that Biden agreed to any spending limits at all. Still, the pair said they were confident. "I never say I'm confident what the Congress … [Read more...] about Asian markets mixed as traders await US debt ceiling vote

A total of 60 Vietnamese nationals who were among over 1,000 people rescued from a casino in the Philippines returned home early Tuesday morning. A total of 60 Vietnamese nationals who were among over 1,000 people rescued from a casino in the Philippines return home on May 30. Photo by the Ministry of Foreign Affairs. According to the Vietnamese Ministry of Foreign Affairs (MoFA), there were 437 Vietnamese among the over 1,000 forced workers rescued on May 4 from an establishment owned by the Clark Sun Valley Hub Group in Pampanga Province, near the Filipino capital of Manila. The ministry has instructed its consular department to contact the Filipino embassy in Vietnam and ask for support in assisting the Vietnamese citizens, especially those with expired personal papers to return home. The ministry has also proposed the Philippine authorities help ensure accommodation for the Vietnamese citizens, inform the Vietnamese side about their residence status, … [Read more...] about 60 Vietnamese nationals rescued from Philippine casino return home

Sixty of 437 Vietnamese forced laborers recently rescued from a Philippine casino arrived at Tan Son Nhat International Airport in Ho Chi Minh City on Tuesday morning, the Vietnamese Ministry of Foreign Affairs confirmed the same day. The ministry is working with its Philippine counterpart to repatriate the remaining citizens. According to the Vietnamese Embassy in the Philippines, more than 1,000 people, including 437 Vietnamese nationals, were rescued by the Philippine authorities on May 4 from forced labor at an establishment owned by the Clark Sun Valley Hub group in Pampanga Province, near Manila. Upon being notified of the issue, the ministry’s Consular Department and the Vietnamese Embassy in the Philippines promptly visited and supported the rescued citizens, as well as collected their information, especially those with invalid travel documents. On May 25, the ministry’s steering board for citizen protection convened a meeting on the issue, seeking measures to … [Read more...] about 60 Vietnamese rescued from Philippine casino arrive home