Category: General

KUALA LUMPUR, The ringgit opened lower against the US dollar today, as market participants adopted a wait-and-see approach ahead of the United States (US) Federal Open Market Committee’s (FOMC) decision on interest rate cuts. At 8.13 am, the local note depreciated to 4.2610/2785 versus the greenback from Tuesday’s close of 4.2535/2645. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that there have been mixed views on the extent of the US Federal Reserve’s (Fed) potential rate cut today. ‘This uncertainty has caused anxiety, as the Fed may take a more gradual approach, while markets appear to

Manila: Non-bailable criminal charges for qualified trafficking have been filed before the Pasig Regional Trial Court (RTC) against dismissed Bamban, Tarlac mayor Alice Guo and 13 others, the Department of Justice (DOJ) said Wednesday. “The DOJ would like to confirm that the case against Alice Guo, including Dennis Cunanan, with the former TLRC (Technology and Livelihood Resource Center) deputy director general and representative of the Zun Yuan Technology, as well as 12 executives and founders of three companies and Guo’s alleged business partners, has been filed in the RTC of Pasig City,” DOJ spokesperson Mico Clavano told reporters. Clavano explained

Manila: Former Department of Budget and Management (DBM) undersecretary and Procurement Service (PS) executive director Lloyd Christopher Lao, who is implicated in the Pharmally mess, was arrested in Ecoland, Davao City on Wednesday, said Criminal Investigation and Detection Group (CIDG) chief Maj. Gen. Leo Francisco. Lao has a standing warrant of arrest for graft issued by the Sandiganbayan First Division on Sept 12, which has a recommended bail of PHP90,000. The suspect is now under the custody of the CIDG’s Regional Field Unit in Davao Region. The Office of the Ombudsman earlier approved the filing of graft charges against Lao

Manila: The Japanese government has committed support to the Philippine Postal Corporation (PHLPost) in improving its services, particularly digital infrastructure. Japan’s assistance would include technologies and sharing of operational know-how to modernize the country’s postal services particularly on e-commerce and digital transformation. PHLPost Postmaster General Luis Carlos said consultants from Japan Ministry of Internal Affairs and Communications, Japan Post and Toshiba were sent to its Central Mail Exchange Center in Pasay City to conduct a comprehensive study on its mail and parcel distribution. ‘During his visit to PHLPost, Japan State Minister Tsuge, who is a former Post Office Postmaster understands

Manila: An estimated PHP34-million worth of shabu was seized from a couple nabbed in a buy-bust operation in Bongabong, Oriental Mindoro on Tuesday. The Philippine Drug Enforcement Agency (PDEA) identified the high-value targets as Luis Baes, 45, and Lyn Baes, 41. The suspects were caught selling one kilogram of shabu packed in a tea bag to a poseur-buyer in Sitio Panlanao, Barangay Sagana at around 11:05 a.m. Tuesday. Operatives also seized from them another four kilograms of shabu with standard street value of PHP34 million. The suspects, now detained in a PDEA custodial facility, will be charged with violation of