Philippines in record defence spending plan
(21 Jul) - MANILA: The Philippines plans to spend a record 25 billion pesos (RM5.95 billion) next year mainly to bolster its claims in the disputed South China Sea, officials said Tuesday. The proposed 2016 national budget, which President Benigno Aquino is to present to parliament for approval on Monday, would allot funds to...
Gold Continues Sliding, Hits 5-Year Low
(LONDON, 20 Jul) —Gold prices fell to five-year lows on Monday, weighed down by dollar’s relentless gains as the prospect of the first U.S. interest rate increase in more than nine years loomed. Federal Reserve Janet Yellen last week appeared to give her strongest signal yet that rates in the U.S. would start to rise, possibly...
China raps state-owned firms for lack of party loyalty
Central Committee of CCP (20 Jul) - China’s top graft-busting agency rapped the country’s powerful state-owned industries on Monday for their often hazy loyalty to the ruling Communist Party, saying management must understand that the party will never relinquish control of the sector. As part of president Xi Jinping’s...
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