MANILA : The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling the constitution does not allow foreign entities to exploit natural resources.The decision, on an agreement that expired in 2008, could co
MANILA : The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling the constitution does not allow foreign entities to exploit natural resources.
China and the Philippines have sparred for decades over sovereignty and natural resources in the South China Sea, which led to a landmark arbitration case in 2016 won by Manila. The previous Philippine government in June last year abandoned the latest attempt, citing constitutional constraints and issues of sovereignty.
China claims jurisdiction over almost the entire South China Sea and the risk of energy activities being disrupted have made it tricky for the Philippines to find foreign partners, despite an arbitration court clarifying what Manila's entitlements were.
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Philippines’ Supreme Court says 2005 oil exploration deal with China, Vietnam is unconstitutionalThe court rules that the deal violated the 1987 Constitution that states the exploration, development and utilisation of the country’s natural resources shall be under the full control and supervision of the state. Read more at straitstimes.com.
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China's embassy in South Korea stops issue of short-term visasIt is the first retaliatory move against countries imposing Covid-19 curbs on travellers from China. Read more at straitstimes.com.
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China suspends short-term visas for South Koreans over COVID-19 travel curbsBEIJING: The Chinese embassy in South Korea has suspended the issue of short-term visas for South Korean visitors, it said on Tuesday (Jan 10), the first retaliatory move against nations imposing COVID-19 curbs on t
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Philippines plans to import 22,000 tonnes of onions after price surgeOne kilogramme of onions now costs about three times the price of chicken and is around 25 per cent costlier than beef. Read more at straitstimes.com.
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Philippines mulls more onion imports amid inflation fearsMANILA : The Philippines is looking into importing onions for immediate delivery to boost a tight supply and bring down exorbitant prices that have contributed to 14-year-high inflation, an agriculture official said on Monday.Retail prices of red onions has skyrocketed to as high as 700 pesos ($12.70) per
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Philippines central bank chief sees inflation closer to 3% in late 2023, 2024MANILA : Philippine inflation is likely to be closer to 3 per cent in late-2023 and in 2024, central bank governor Felipe Medalla said on Tuesday.Medalla, speaking at a media forum, also said the economy remained strong and that pent-up domestic demand will continue driving growth.
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