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China calls for ‘basic etiquette’ after Philippine outburst By Reuters

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China calls for ‘basic etiquette’ after Philippine outburst By Reuters



© Reuters. FILE PHOTO: China’s Foreign Minister Wang Yi and Philippine’s Foreign Affairs Secretary Teodoro Locsin Jr., bump their elbows during a meeting in Manila, Philippines January 16, 2021. Francis Malasig/Pool via REUTERS/File Photo

BEIJING (Reuters) – China urged the Philippines on Tuesday to observe “basic etiquette” and eschew megaphone diplomacy after the southeast Asian nation’s foreign minister used an expletive-laced Twitter message to demand that China’s vessels leave disputed waters.

The comments by Teodoro Locsin, known for occasional blunt remarks, follow Manila’s protests over what it calls the illegal presence of hundreds of Chinese boats inside the Philippines’ 200-mile Exclusive Economic Zone (EEZ).

In a statement, China’s foreign ministry urged the Philippines to respect the nation’s sovereignty and jurisdiction and stop taking actions that complicate the situation.

“Facts have repeatedly proved that microphone diplomacy cannot change the facts, but can only undermine mutual trust,” it said.

“It is hoped that relevant people in the Philippines will comply with basic etiquette and their position when making remarks.”

The ministry cited comments by Philippines President Rodrigo Duterte that differences between the countries on individual issues should not affect friendship and cooperation.

“China has always worked, and will continue to work with the Philippines, to properly resolve differences and advance cooperation through friendly consultations.”

China claims almost the entire South China Sea, through which about $3 trillion of ship-borne trade passes each year. In 2016, an arbitration tribunal in the Hague ruled that its claim was inconsistent with international law.

“I won’t plead the last provocation as an excuse for losing it; but if Wang Yi is following Twitter then I’m sorry for hurting his feelings but his alone,” Locsin said on Twitter on Tuesday, referring to the Chinese government’s top diplomat.

Duterte has reminded his officials that there is no room for cursing in the matter of diplomacy. “Only the President can cuss,” his spokesman, Harry Roque, told a regular news conference.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Oil Up as Fuel Demand Outlook Improves But Clouded by Asian COVID Outbreaks By Investing.com

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Oil Up as Fuel Demand Outlook Improves But Clouded by Asian COVID Outbreaks By Investing.com



© Reuters.

By Gina Lee

Investing.com – Oil was up on Monday morning in Asia as investors are optimistic about the recovery of fuel demand in key markets, despite concerns over the COVID-19 resurgence in parts of Asia.

rose 0.51% to $69.06 by 11:16 PM ET (3:16 AM GMT). jumped 0.52% to $65.70, and rolled over to the Jul. 21 contract on May 16.

Crude demand is increasing as the U.S. and parts of Europe continue their economic recovery from COVID-19 thanks to an accelerating COVID-19 vaccination rate. In the U.K., the government said on Sunday that more than 20 million people, or 38% of the British adult population, have been fully vaccinated against COVID-19.

On the supply front, pump stations in the U.S. are restarting to supply gasoline as Colonial Pipeline is slowly restarting its entire pipeline system after being hit by a cyber-attack earlier in the month.

Meanwhile, U.S. energy firms added oil and rigs for three consecutive weeks due to higher crude prices, energy services firm Baker Hughes Co. said on Friday.

However, , including Singapore and Taiwan, are seeing new outbreaks of COVID-19 cases. Meanwhile, Japan on Friday further expanded a COVID-19 state of emergency before the beginning of the Tokyo Olympics in July and some Indian states said on Sunday that they would extend COVID-19 restrictions.

“Oil prices are under pressure as a spike in the COVID-19 pandemic is spreading from India to other parts of Asia, which increased concerns over slower recovery in fuel demand,” Kazuhiko Saito, chief analyst at commodities broker Fujitomi Co., told Reuters.

Data from China, the world’s biggest oil importer, released earlier in the day also disappointed as the country’s growth slowed down to 9.8% year-on-year in April.

Across the Middle East, Israel and Palestinians’ conflict moved into its second week, with no clear end in sight to the violence.

However, some investors remained optimistic.

“As long as the fight does not spill over to oil-producing countries in the region, there will be limited impact on the oil market,” Fujitomi’s Saito said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Litecoin Falls 10% In Selloff By Investing.com

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Litecoin Falls 10% In Selloff By Investing.com



Litecoin Falls 10% In Selloff

Investing.com – was trading at $279.038 by 23:15 (03:15 GMT) on the Investing.com Index on Monday, down 10.03% on the day. It was the largest one-day percentage loss since May 12.

The move downwards pushed Litecoin’s market cap down to $18.731B, or 0.90% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B.

Litecoin had traded in a range of $279.038 to $296.310 in the previous twenty-four hours.

Over the past seven days, Litecoin has seen a drop in value, as it lost 31.55%. The volume of Litecoin traded in the twenty-four hours to time of writing was $5.440B or 2.61% of the total volume of all cryptocurrencies. It has traded in a range of $279.0380 to $393.9380 in the past 7 days.

At its current price, Litecoin is still down 33.56% from its all-time high of $420.00 set on December 12, 2017.

Elsewhere in cryptocurrency trading

was last at $44,111.9 on the Investing.com Index, down 8.42% on the day.

was trading at $3,361.21 on the Investing.com Index, a loss of 11.79%.

Bitcoin’s market cap was last at $828.981B or 39.96% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $389.714B or 18.79% of the total cryptocurrency market value.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Asian Stocks Mixed as Chinese Data Disappoints, COVID-19 Cases Spike By Investing.com

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Asian Stocks Mixed as Chinese Data Disappoints, COVID-19 Cases Spike By Investing.com



© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mixed Monday morning as some countries in the region deal with spikes in the number of COVID-19 cases and inflation worries continued to weigh on investor sentiment.

China’s inched down 0.01% by 10:38 PM ET (2:38 AM GMT) while the jumped 2.09%. released earlier in the day said that slowed down to 9.8% year-on-year in April.

Hong Kong’s rose 1.06%.

Japan’s was down 0.24% and South Korea’s edged down 0.15%.

In Australia, the gained 0.69%. The Reserve Bank of Australia will publish the minutes of its latest meeting on Tuesday, and employment data for April, including employment change and unemployment rate figures, are due two days later.

Treasury yields steadied after their tumble on Friday. U.S. data released that day said that grew 0% month-on-month in April.

COVID-19 was front and center in the region as Singapore and Taiwan deal with their latest outbreaks. A record 206 new cases were recorded in Taiwan on Sunday, while Singapore shifted primary, secondary, junior college and Millennia Institute students to full home-based learning from May 19 till the end of the school term on May 28.

Commodities seem to have hit pause on their recent rally, with and iron ore prices climbing down from record highs amid Chinese efforts to cool red-hot prices.

Investors also remain concerned that central banks will start pulling back support earlier than expected as concerns about runaway inflation linger and continue to weigh on global stocks.

Investors also look to the minutes from the U.S. Federal Reserve’s latest meeting, due to be released on Wednesday, for clues as to when the current dovish policy will be shifted.

“Record highs in copper prices and fears over extended oil price gains will be hard to ignore” heading into the second half of 2021, Standard Chartered (OTC:) global head of research Eric Robertsen said in a note.

“The Fed believes this is part of the economic reopening narrative, and for now, it is likely to let the dust settle. But it might start looking over its shoulder if prices stay high,” the note added.

Cleveland Fed President Loretta Mester insisted that the Fed’s policy is currently in a good place while glossing over economic data that will be volatile as the economy reopens.

Mester’s colleagues, Fed Vice Chair Richard Clarida and Atlanta Fed President Raphael Bostic, will also speak later in the week.

On the cryptocurrency front, bitcoin tumbled below $45,000, its lowest level since February 2021, after Tesla Inc. (NASDAQ:) CEO followed up his tweet from the previous week stating that Tesla has suspended the digital currency as a payment method due to environmental concerns.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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