News Flash

October 13, 2015, Tuesday
  • Alfredo Lim files his COC for mayor of Manila. 4 hours ago |
  • Tungawan, Zamboanga Sibugay Mayor Randy Climaco killed in a ambush in Barangay Kayamkam. 4 hours ago |
  • Drilon wonders why Enrile is backing Marcos’ vice pres’l candidacy & not that of Honasan. 4 hours ago |
  • A total of 22 party-list groups have filed their Certificates of Nomination as of Tuesday morning. 4 hours ago |
  • 5 persons filed their COCs for President on Tuesday morning. 4 hours ago |
  • 20 individuals have for their COCs for senator at Comelec as of Tuesday morning. 4 hours ago |
  • Total number of persons who filed their COCs for president stands at 29 as of Tuesday morning. 4 hours ago |
  • Comelec voters’ registration starting Oct. 17 to go on for 12 hours daily. 5 hours ago |
  • Lacierda says Aquino government’s 59% satisfaction rating is highest in SWS’ history. 5 hours ago |
  • Lacierda: Aquino government's 59% satisfaction rating (SWS 3rd quarter survey) is highest compared to past administrations. 6 hours ago |
  • Tropical depression expected to enter PAR by Thursday evening. 6 hours ago |
  • LPA outside PAR (2,625 kilometers east of Luzon) has developed into a tropical depression. 6 hours ago |
  • Only 2 persons have filed their COCs in Comelec Quezon City as of Tuesday morning. 6 hours ago |
  • 3 wounded after an SUV slammed into a vulcanizing shop in Cubao, Quezon City. 6 hours ago |
  • Businessman injured in fire that hit an auto parts store in Banawe Street, Quezon City. 6 hours ago |
  • Oil firms implement price hikes on Tuesday. 6 hours ago |
  • Iligan City Mayor Celso Regencia who is suspect in the ambush of a congressman turns himself in. 6 hours ago |
  • Abductors release Naga, Zamboanga Sibugay Mayor Gemma Adana. 6 hours ago |
  • Sen. Antonio Trillanes to file his COC for vice president on Wednesday. 6 hours ago |
  • Leyte Rep. Martin Romualdez files his COC for senator. 6 hours ago |
  • Roxas and Robredo to file their COCs on Thursday. 23 hours ago |
  • Davao City Mayor Rodrigo Duterte announces he is not running for president. 23 hours ago |
  • Ombudsman’s graft raps vs. VP Binay & 23 others are in connection w/ alleged overpriced Makati City Hall Bldg’s construction. 23 hours ago |
  • Ombudsman finds probable cause to file graft charges vs. VP Binay, Mayor Junjun Binay & 22 others. 23 hours ago |
  • Sen. Grace Poe says she is ready for presidential debates to explain her platform of government. 23 hours ago |
  • 17 party-list groups filed their Certificates of Nomination & Accreditation at Comelec on Monday. 23 hours ago |
  • Comelec to release the list of official candidates on Dec. 10. 23 hours ago |
  • Comelec to begin the process of weeding out nuisance candidates next week. 23 hours ago |
  • 3 individuals filed their COCs for vice president at Comelec on Monday. 23 hours ago |
  • A total of 21 presidential aspirants filed their COCs on Monday. 23 hours ago |
  • Rizalito David is the last to file his COC for president on Monday. 23 hours ago |

US shutdown causes global bewilderment

By AFP | Oct. 03, 2013 at 09:02pm
From Chinese bloggers to European central bankers, the world is watching the US government shutdown with a mixture of bewilderment and growing nervousness that any debt default could hit struggling economies.

The effects of the dramatic spending freeze have rippled around the globe, paralysing a leading earthquake alert system, forcing American scientists to pull out of international conferences and leading an embarrassed President Barack Obama to postpone visits to two Asian countries.

In emerging superpower China, a one-party state where legislative deadlock holds little fear for the Communist rulers, the official Xinhua news agency said the situation had once again brought to the fore “the ugly side of partisan politics in Washington”.

“Though its immediate impact looks limited, the damage will multiply if the drama drags on for days or even weeks, arousing concerns over its spillover effect,” it said in a commentary, referring to the US economy.

Chinese social media users took a largely mocking tone in response to the first US government shutdown in 17 years.

“Shutdown! What about the money China put in there?” posted one user on Sina Weibo, a Chinese version of Twitter, a reference to Beijing’s massive purchases of US Treasury debt.

While global markets have so far been relatively resilient, there are growing jitters about the impact on the US economy at a time of heightened uncertainty over a possible winding-down of the Federal Reserve’s massive stimulus measures.

Apart from reaching a budget deal to end the shutdown, Congress must agree within two weeks to raise the $16.7 trillion US debt ceiling -- or risk a default on government debt.

“If the US actually defaults on its debt, that might send a signal to markets that the United States is no longer a credible borrower, and given how much debt there is sloshing around in the American system, that could be catastrophic,” said David Smith, a lecturer at the University of Sydney’s United States Studies Centre.
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