Philippines President Rodrigo Duterte steals the spotlight today after signing five agreements with Japanese Prime Minister Shinzō Abe during the two-day state visit of Prime Minister Abe. More than 1,000 Sentifi financial voices are discussing this strengthened relations between the Philippines and Japan, so join them and share your insights.
Rodrigo Duterte: Reaffirms the relationship with Japan
Doubts about the weakening relations between the Philippines and Japan were soon put to rest as President Duterte and Prime Minister Abe signed 5 agreements. There are as follow:
- A ¥600-million grant fir speed boats and anti-terrorism equipment for the Philippine Coast Guard
- The exchange of memorandum on low carbon growth
- Memorandum of agreement for maritime cooperation for maritime safety and security
- Memorandum of cooperation for the testing of road traffic info through data broadcasting
- Exchange of loan agreement and guarantee letter for a five-year Landbank project on agribusiness
The pair also pledged to share efforts to advance the rule of law to secure territorial waters. Abe is the first head of government to officially visit the Philippines under the Duterte presidency.
BuzzFeed: Readers try to verify the Trump dossier
The 35-page intel on the alleged ties between the Russian government and U.S. President-elect Donald Trump that BuzzFeed publishes was a sensation on the internet for all the wrong reasons. The intel is full of unverified information, which was the topic of criticism and controversy. Now, many BuzzFeed readers are booking plane tickets to Moscow to verify the information themselves.
Fiat Chrysler: Faces diesel engine emissions cheating
Fiat Chrysler is the new Volkswagen after the U.S. government accused the carmaker of violating the Clear Air Act on some of its diesel engines in more than 100,000 vehicles. The company was said to install and failing to disclose engine management software in 2014, 2015 and 2016 models of Jeep Grand Cherokees and Dodge Ram 1500 trucks with 3.0-litre diesel engines sold in the U.S. In the face of accusations, CEO Sergio Marchionne said that his company has done nothing illegal. “There was never any intent of cheating conditions that were designed to defeat the testing process. This is absolute nonsense,” he said.
Tiger Airways Holdings: Allowed to fly Australian customers home
Hundreds of passengers were stranded after Tigerair and the Indonesian government got into a dispute over licensing that grounded the airline’s flights to and from Bali. Thankfully, the government has given the airline a four-day reprieve until Jan. 16 to brings almost 2,000 customers back to Australia. Flights from Jan. 17 onwards are still under review.
Pharmaceuticals Sector: Braces for Trump slowdown
Dozen of drug stocks have been falling since U.S. President-elect Donald Trump said he would repeal and replace Obamacare and promised to force drug and biotechnology companies to bid for the government’s business. Despite having yet to offer any concrete details about his plan for the sector, Trump has put a great weight of uncertainty onto the sector’s shoulders. Many investors are speculating that the new policies will affect the tax rates, government payments and how the health markets are organized.
Walgreens Boots Alliance: Asks judge to dismiss consumer fraud suit
The company, along with Theranos and its founder Elizabeth Holmes, are trying to persuade a federal judge in Arizona to toss a proposed class action lawsuit against them for allegedly misleading consumers about the reliability of Theranos’ blood tests. The reason is that the case cannot support allegations the companies acted fraudulently, and that some of the plantiffs lack standing because their test results were not invalidated. The request is still under review.
Richemont: Reports an increase in Q3 sales
Strong growth and demands in Europe, Asia Pacific and the Americans have helped boost the luxury conglomerate’s Q3 sales by 5 percent at constant exchange rates. Retail sales also increased by 12 percent compared to the first six month’s decline of 5 percent. The company said strong sales in Europe were thanks to local sales and tourism-based purchases in the U.K. In Asia, mainland China and South Korea recorded a 10 percent growth in sales. American sales grew 8 percent thanks to the support from Richemont’s jewelry houses and French jeweler Cartier’s reopening of its New York flagship.
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