News Flash

July 30, 2015, Thursday
  • Solgen says Manila City Gov’t violated ordinance when it granted zoning & building permits to Torre de Manila’s builders. 3 hours ago |
  • Solgen Florin Hilbay blames Manila City government for the construction of Torre de Manila. 3 hours ago |
  • Ombudsman perpetually bars Ex-ARMM Gov. Zaldy Ampatuan from holding public office. 4 hours ago |
  • Chief Supt. Edgardo Tinio named new Quezon City Police District Chief. 4 hours ago |
  • Binay says Roxas’ campaign will be backed by government’s machinery. 4 hours ago |
  • Binay says Roxas is not a threat to his presidential bid. 4 hours ago |
  • Fire hits a school in Gingoog City, Misamis Oriental. 4 hours ago |
  • Malacanang says the 2016 national budget has no pork barrel allocation. 4 hours ago |
  • DOJ files case against the importer of trash from Canada. 4 hours ago |
  • Alma Moreno and Princess Jacel Kiram to run under UNA’s senatorial slate. 4 hours ago |
  • Binay says he has yet to complete his UNA senatorial slate. 4 hours ago |
  • Mar Roxas visits graves of Roxases at Manila North Cemetery prior to Aquino’s pres’l endorsement. 4 hours ago |
  • Tolentino thanks gov’t agencies, private sector & media for their participation in metrowide earthquake drill. 9 hours ago |
  • MMDA’s night-time earthquake drill to be held in Pasig City on Thursday. 9 hours ago |
  • MMDA’s metrowide earthquake drill ended at 12:20 noon Thursday. 9 hours ago |
  • MMDA & Makati gov’t give Makati earthquake drill an ‘almost perfect’ 9 out of 10 success rating. 9 hours ago |
  • Marikina 161 Rescuers hope gov’t personnel & people will remember the quake drill in case of an actual tremor. 9 hours ago |
  • NDRRMC Exec. Dir. Alexander Pama notes gov’t agencies’ response to quake drill was very quick. 9 hours ago |
  • MMDA chairman Francis Tolentino declares the metrowide earthquake drill a success. 11 hours ago |
  • Arrest warrant sent to U.S. Embassy for Fil-Am Jonathan Viane who is suspect in a woman’s brutal slay in Olongapo City. 11 hours ago |
  • 133 Filipino soldiers who served as U.N. peacekeepers in Haiti return to the Philippines. 11 hours ago |
  • Sen. Grace Poe not surprised that Pres. Aquino picked Mar Roxas as LP’s standard bearer. 11 hours ago |
  • House Minority Bloc to hold ‘Kontra-SONA’ next week. 11 hours ago |
  • China conducts military drill in South China Sea. 11 hours ago |
  • Agusan del Norte experiences rotational blackouts. 11 hours ago |
  • Camarines Sur Rep. Leni Robredo not ready to run for the vice presidency in 2016. 11 hours ago |
  • MMDA’s earthquake drill all over Metro Manila happens at 10:30 am Thursday. 11 hours ago |
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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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