No Reservations - updates

Rappler's latest stories on No Reservations

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Former U.S. Fed chairman Paul Volcker dies at 92 – media

Dec 09, 2019 - 11:19 PM

In a career spanning the immediate post-War decades to the 2008 financial crisis, former US Federal Reserve chairman Paul Volcker advised US leaders from Richard Nixon to Barack Obama

PAUL VOLCKER. In this file photo taken on March 29, 2005 Paul Volcker, chair of the Independent Inquiry Committee into the United Nations oil-for-food program in Iraq, speaks at a press conference in New York after the committee released a report on the investigation into the program. File photo by Stan Honda/AFP

U.S. Fed lowers key interest rate as 'insurance' against economic risks

Oct 31, 2019 - 3:15 PM

'We took this step to help keep the US economy strong in the face of global developments,' says United States Federal Reserve Chairman Jerome Powell

Federal Reserve Board Chairman Jerome Powell holds a news conference on October 30, 2019 in Washington, DC. - The US Federal Reserve cut its benchmark interest rate for the third straight time on Wednesday, but the central bank remains divided, with two of the 10 voting members dissenting. And the Fed's policy-setting Federal Open Market Committee made a key change in the wording of the statement, which makes it less certain it will make another move in December. (Photo by Eric BARADAT / AFP)

Bangko Sentral cuts banks' reserve requirement anew to support growth

Oct 24, 2019 - 6:56 PM

The Bangko Sentral ng Pilipinas doubles down on monetary measures to counter global headwinds

Bangko Sentral hits the gas for economic growth

Sep 28, 2019 - 1:20 PM

The Bangko Sentral ng Pilipinas announces the lowering of the level of cash banks need to keep on the same week it slashed interest rates

U.S. Fed cuts key interest rate a quarter point, citing 'uncertainties'

Sep 19, 2019 - 12:40 PM

The United States Federal Reserve lowers the benchmark interest rate by 25 basis points to a target range of 1.75% to 2%, but its policy committee is divided

RATE CUT. United States Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on July 31, 2019. Photo by Andrew Caballero-Reynolds/AFP

U.S. sees 'modest' growth, businesses show 'near-term' optimism – Fed

Sep 05, 2019 - 9:50 AM

The United States Federal Reserve cites trade concerns, but says majority of businesses remain optimistic about the near-term outlook

BUSINESSES. Buildings, both residential and commercial, give form to the iconic Manhattan skyline on June 13, 2019 in New York City. Photo by Spencer Platt/Getty Images/AFP

'What militarization?' AFP defends planned presence in schools

Aug 24, 2019 - 4:50 PM

The military says soldiers would be 'engaging' students during information campaigns and lectures, not curtailing their academic freedom

WHAT MILITARIZATION? AFP Spokeperson Brigadier General Edgard Arevalo at a press conference on security issues at Camp Aguinaldo on Thursday, Aug. 15, 2019, Photo by Darren Langit/Rappler

Trump heads to G7 with potshot at French hosts over taxes

Aug 24, 2019 - 1:30 PM

'I don't want France going out and taxing our companies.... And if they do that, we'll be taxing their wine,' says US President Donald Trump ahead of the G7 summit in France

US President Donald Trump gestures as he speaks to the press while departing the White House in Washington, DC, on August 23, 2019, for the G7 Summit in France. (Photo by Alastair Pike / AFP)

Mandatory ROTC? Fix K to 12 program first, netizens say

Aug 22, 2019 - 10:00 PM

Do you agree with lawmakers that making ROTC mandatory would instill a sense of nationalism and patriotism into the Filipino youth?

Gatchalian says ROTC bill to cost gov't P38 billion a year if passed

Aug 22, 2019 - 5:55 PM

Senator Sherwin Gatchalian says the proposed Reserve Officers' Training Corps bill would cost the government nearly as much as the free tuition law

NOT CHUMP CHANGE. Senator Sherwin Gatchalian said that the estimated amount for the ROTC bill is as expensive as the free tuition law. Photo by Angie de Silva/Rappler

Bato dela Rosa flares up at activist during ROTC hearing

Aug 22, 2019 - 4:27 PM

The senator flies into a rage when a youth activist contrasted the possible release of rape-murder convict Antonio Sanchez, with killings in the war on drugs

UPSET. Senator Ronald "Bato" dela Rosa after the Senate Committee on Basic Education, Arts and Culture hearing on the ROTC Act for Senior High School on August 22, 2019. Photo by Angie de Silva/Rappler

IMF tells Trump: It's not working

Aug 22, 2019 - 10:31 AM

In unusually blunt language, the IMF blog post says US policy moves are counterproductive, won't achieve the desired results, and will slow the global economy

NOT WORKING. File photo of US President Donald Trump. Photo by Saul Loeb/AFP

LIVE: Senate hearing on mandatory ROTC

Aug 22, 2019 - 9:06 AM

President Rodrigo Duterte has asked Congress to ensure the passage of a bill that would make the Reserve Officers' Training Corps program mandatory for senior high school students

Gerald Anderson now a reservist for the Philippine Army

Aug 10, 2019 - 1:58 PM

The actor graduates from a 3-day military training course at Camp Tecson, Bulacan

U.S. Fed cuts key interest rate to 'insure' against global uncertainties

Aug 01, 2019 - 8:15 AM

US President Donald Trump wastes no time in attacking on Twitter, saying the US Federal Reserve's move falls far short of the 'aggressive rate-cutting cycle' he wants

US Federal Reserve Chairman Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC on July 31, 2019. - The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump. Powell signaled Wednesday that the US central bank is not launching a new round of interest rate cuts to boost the economy. With many economists expected at least one more rate cut this year, Powell said the move Wednesday was to "insure" the economy against global uncertainties (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

U.S. Fed to join ranks of other central banks in stimulating economy

Jul 31, 2019 - 2:45 PM

United States President Donald Trump will certainly cheer a rate cut, but economists are torn

After a year of Trump pressure, U.S. Fed struggles to communicate

Jul 28, 2019 - 11:20 PM

The United States Federal Reserve suffers a number of awkward stumbles in communications, while facing repeated attacks from US President Donald Trump

US Federal Reserve Board Chairman Jerome Powell addresses a dinner following the Conference "Bretton Woods: 75 years later - Thinking about the next 75 years" at the Banque de France headquarters in Paris on July 16, 2019. (Photo by ERIC PIERMONT / AFP)

Imee Marcos says she is against mandatory ROTC

Jul 25, 2019 - 1:15 PM

(UPDATED) 'You don’t need to be a soldier to show your love for the country. There are other ways,' the neophyte senator says

Neophyte senator Imee Marcos faces the media at the weekly Kapihan sa Senado on July 25, 2019. Photo by Angie de Silva/Rappler

Trump attacks US Fed, demands rate cut

Jul 19, 2019 - 11:51 PM

In another Twitter outburst, Trump calls on the US Federal Reserve to 'Correct!' its overreach

DONALD TRUMP. US President Donald Trump speaks to the media as he walks to Marine One prior to departing from the South Lawn of the White House in Washington, DC, July 5, 2019. Photo by Saul Loeb/AFP

The basics of single-origin coffee and how to appreciate it

Jul 09, 2019 - 5:30 PM

Ready to learn a latte about how to taste and appreciate coffee like a true barista?

Zambales town opposes planned AFP Subic Naval Reservation

Jun 26, 2019 - 8:36 PM

The proposed 300-million-square-meter development will leave only 30% of San Antonio's land area, and will disrupt the town's tourism industry

OPPOSITION. Mayor Estela Deloso Antipolo says the development will leave San Antonio as one of the smallest towns in the Philippines. Photo from San Antonio FB

U.S. Fed to look 'carefully' at Facebook virtual coin Libra

Jun 26, 2019 - 1:15 PM

Federal Reserve chairman Jerome Powell becomes the latest official to voice concern over the global virtual currency unveiled last week by Facebook


U.S. Fed opens door to rate cut amid growing 'uncertainties'

Jun 20, 2019 - 2:35 PM

The US Federal Reserve says trade friction and slowing growth worldwide have led many central bankers to feel the case for an interest rate cut has 'strengthened'

RATE UNCHANGED. United States Federal Reserve Chairman Jerome Powell during a press briefing following a Federal Open Market Committee meeting on March 20, 2019, in Washington, DC. Photo by Brendan Smialowski/AFP

DepEd supports mandatory ROTC – Briones

Jun 13, 2019 - 7:53 PM

‘When the Japanese attacked Pearl Harbor through bombing, and then the Philippines was next, the first line of defense were the young ROTC graduates while our military forces were yet to be mobilized,’ says the education secretary

CADETS IN FORMATION. Competing cadets in the Ultimate ROTC Challenge 2018 attend the opening ceremony prior to the start of their respective events. Photo by the DND

Senate: No time left to pass mandatory ROTC bill despite Malacañang urgency

Jun 03, 2019 - 9:36 PM

'There is nothing in the certification which would shorten the debate on any measure,' says Senate Minority Leader Franklin Drilon

THE BUDGET IMPASSE IS OVER: Senate President Vicente C. Sotto III signs the P3.767 trillion national budget for 2019 “with strong reservations,” paving the way for the transmittal of the enrolled bill to Malacañang. Accompanying Sotto are (from left): Minority Leader Franklin M. Drilon, Senator Panfilo Lacson and Majority Leader Juan Miguel F. Zubiri. In his letter to President Rodrigo Duterte, Sotto sought for the disapproval of P75 billion in realignments made by the House of Representatives after the ratification of the bicameral conference committee report on the measure. (PRIB Photo by Cesar Tomambo/26 March 2019)

Duterte certifies as urgent bill on mandatory ROTC

Jun 03, 2019 - 6:55 PM

President Rodrigo Duterte certifies Senate Bill No. 2232 as urgent, saying mandatory ROTC for Grade 11 and 12 students is needed to 'invigorate' the youth's 'sense of nationalism'

President Rodrigo Roa Duterte answers queries from members of the media after casting his vote for the midterm elections at the Daniel R. Aguinaldo National High School in Davao City on May 13, 2019. Malacañang Photo

[EDITORIAL] #AnimatED: Pagbebrainwash at pagkukorap ng kabataan ang ROTC

Jun 03, 2019 - 11:02 AM

Sa kagustuhang maaagang makontrol ang isip ng kabataan, ipapataw ang isang programang lumalabag sa karapatang pantao ng mga bata

Rare albino panda caught on camera in China

May 26, 2019 - 7:15 PM

The spotless, red-eyed animal is photographed while trekking through the forest in Sichuan province

This handout photograph taken on April 20, 2019 and released by the Wolong National Nature Reserve on May 26, 2019 shows a rare all-white giant panda in the Wolong National Nature Reserve in Wenchuan County, southwest China's Sichuan province. - A rare all-white panda was caught on camera at a nature reserve in southwestern Sichuan province, showing that albinism exists among wild pandas in the region, reported state media. (Photo by HANDOUT / Wolong National Nature Reserve / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Wolong National Nature Reserve" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS == NO ARCHIVE

Bangko Sentral slashes reserve requirement for small banks

May 23, 2019 - 7:15 PM

The Bangko Sentral ng Pilipinas slashes the amount small banks need to hold in their reserves – a move that is expected to free up some P20 billion in the economy

Duterte signs Bangko Sentral's gold bill into law

May 22, 2019 - 2:20 PM

Under Republic Act No. 11256, gold from small-scale mining activities can be sold tax-exempt to the Bangko Sentral ng Pilipinas

House approves bill requiring ROTC for Grades 11, 12

May 20, 2019 - 6:30 PM

If passed into law, the bill would make the Reserve Officers' Training Corps program mandatory for both male and female senior high school students

SOON TO BE REQUIRED FOR SHS? A soldier of the 1st Scout Ranger Regiment of the Philippine Army instructs an ROTC cadet officer on the finer points of the M16 rifle. Photo from Wikipedia

Bangko Sentral to cut reserve requirement in phases

May 16, 2019 - 6:00 PM

(UPDATED) The Bangko Sentral ng Pilipinas will cut the reserve requirement ratio – or the amount banks need to hold on to in their reserves – by 200 basis points to 16% in 3 tranches

U.S. Federal Reserve leaves key rate unchanged amid mixed economic signals

May 02, 2019 - 5:25 PM

The United States Federal Reserve votes unanimously to keep the benchmark interest rate in a range of 2.25% to 2.5%

Federal Reserve Board Chair Jerome Powell speaks during a press conference after a Federal Open Market Committee meeting in Washington, DC, on May1, 2019. - The US Federal Reserve decided Wednesday to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy. (Photo by MANDEL NGAN / AFP)

U.S. Fed now expects no rate hikes in 2019

Mar 21, 2019 - 1:50 PM

The United States Federal Reserve's surprising change of direction follows the 4 rate increases in 2018

Federal Reserve Chairman Jerome Powell during a press briefing following a Federal Open Market Committee meeting March 20, 2019 in Washington, DC. - Powell said Wednesday it could be "some time" before the US central bank will have to change the key lending rate. The Fed kept the benchmark borrowing rate unchanged and forecast no more increases this year. (Photo by Brendan Smialowski / AFP)

Fed to hold fire on interest rates as world economy slows

Mar 17, 2019 - 11:10 PM

Economists also expect the United States Federal Reserve to once again lower the number of rate hikes projected in 2019

U.S. FEDERAL RESERVE. Chairman Jerome Powell speaks during a news conference in Washington, DC, on March 21, 2018. File photo by Alex Wong/Getty Images/AFP

[OPINION] Democracy under siege

Feb 23, 2019 - 10:00 AM

We must ensure that more Defenders of Democracy are voted into office this year, and that the elections are free, clean, and peaceful. And that is a fight that is in the hands of the Filipino youth, Filipino parents, and all freedom-loving citizens.

House bill requiring ROTC for Grades 11, 12 one step away from passage

Feb 06, 2019 - 6:51 PM

(UPDATED) If passed into law, the House bill would bar a senior high school student from graduating if he or she fails to complete the ROTC program

CADETS IN FORMATION. Competing cadets in the Ultimate ROTC Challenge 2018 attend the opening ceremony prior to the start of their respective events. Photo by the DND

U.S. Federal Reserve assists Bangladesh over cyberheist case vs RCBC

Feb 02, 2019 - 6:47 PM

'This agreement demonstrates that the New York Fed and Bangladesh Bank are aligned in the pursuit of recovering the funds and directing litigation against those who were complicit in or benefitted from the fraud,' says the US Federal Reserve Bank and Bangladesh's central bank

CENTRAL BANK. A cornerstone in the Federal Reserve Bank of New York building is seen on July 29, 2011 in New York City. Andrew Burton/Getty Images/AFP

U.S. hands bank accounts to Venezuela's Guaido

Jan 29, 2019 - 11:13 PM

Secretary of State Mike Pompeo has signed off on the order for Juan Guaido to control holdings in the Federal Reserve Bank of New York and federally insured banks

INTERIM. In this file photo, Juan Guaido speaks to the crowd during an extraordinary open meeting in front of the headquarters of the United Nations Development Programme in Caracas on January 11, 2019. File photo by Yuri Cortez/AFP

Trump downbeat on Fed as markets nosedive

Dec 26, 2018 - 8:33 AM

President Donald Trump rails against the Federal Reserve amid a US stock market on track for its worst December since the Great Depression

US President Donald Trump speaks to the press aboard Air Force One in flight as he travels from Joint Base Andrews in Maryland, to Bedminster, New Jersey, June 29, 2018. / AFP PHOTO / SAUL LOEB

Mandatory ROTC will expose students to corruption, says lawmaker

Dec 10, 2018 - 5:25 PM

But both the education and defense departments are backing the proposal to require ROTC for senior high school students

CADETS IN FORMATION. Competing cadets in the Ultimate ROTC Challenge 2018 attend the opening ceremony prior to the start of their respective events. Photo by the Department of National Defense

Duterte to Congress: Require ROTC for grade 11, 12 students

Nov 22, 2018 - 10:45 PM

The President says he may issue an executive order requiring ROTC, if it is legal to do so

CHIEF EXECUTIVE. President Rodrigo Duterte is set to announce his 'personally crafted' position on the diplomatic crisis between Kuwait and the Philippines. Malacañang photo

U.S. Fed raises benchmark interest rate

Sep 27, 2018 - 11:55 AM

US President Donald Trump says he is 'not happy' about the move of the central bank

U.S. FEDERAL RESERVE. Chairman Jerome Powell speaks during a news conference in Washington, DC on March 21, 2018. File photo by Alex Wong/Getty Images/AFP

Gov’t lost P2.6B in Caraga mining royalties from 2012-2016

Aug 22, 2018 - 1:42 PM

The Commission on Audit recommends crafting a law that would impose royalties on mining companies that operate outside of Mineral Reservation Areas or MRAs

MINING ROYALTIES. The Commission on Audit says the government should have charged royalties from mining companies that operated outside of Mineral Reservation Areas.

Philippines' forex buffer hits 3-year low in April

May 07, 2018 - 6:55 PM

This is dragged by outflows arising from payments made by the national government for its maturing foreign obligations as well as the foreign exchange operations of the central bank

Sarah Chin: A zookeeper’s tale of turning passion into action

May 07, 2018 - 10:57 AM

One Singaporean zookeeper proves that pursuing one’s passion is something worth doing

U.S. Fed to hold fire amid rising market sensitivity

Apr 29, 2018 - 11:50 PM

Investors will be looking for signs of how concerned US officials appear to be about rising wages and inflation

WASHINGTON, DC - MARCH 21: U.S. Federal Reserve Chairman Jerome Powell speaks during a news conference March 21, 2018 in Washington, DC. The Fed today as expected announced a quarter-point increase in interest rates under its new chairman. Alex Wong/Getty Images/AFP

PH economy reverts to hot money outflows of $545 million in February

Mar 15, 2018 - 9:35 PM

The Bangko Sentral ng Pilipinas attributes the net outflows to investor concerns over the possibility of a US Federal Reserve rate hike

Bantay Dagat members help protect Albay ecotourism destination

Mar 04, 2018 - 6:25 PM

These guardians of the sea ensure no fishermen would encroach in a 135-hectare marine reserve and fish sanctuary

Photo by Rhaydz Barcia /Rappler

BSP cuts banks' reserve requirement

Feb 15, 2018 - 8:10 PM

The reserve requirement ratio for banks is lowered from 20% to 19%, a move seen to free up liquidity for a growing economy