Americans Hall and Woodford win economics Nobel for stabilisation models

Bangkok Post - Oct 12, 2026

STOCKHOLM - Americans Robert Hall and Michael Woodford were awarded the Nobel economics prize Monday for their work on how monetary and fiscal policy can better stabilise disruptive economic fluctuations.

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No Saudi deployment ban, but Filipinos told to avoid nonessential travel
Oct 12, 2026
No Saudi deployment ban, but Filipinos told to avoid nonessential travel

MANILA, Philippines — There is no deployment ban on Filipino workers bound for Saudi Arabia despite an attack at an international airport in Riyadh, Migrant Workers Secretary Hans Cacdac said on Monday. However, Cacdac advised Filipinos to avoid unnecessary travel to Saudi Arabia amid the situation, which has left several Filipinos stranded. Asked whether the government

CBCP urges prayers for Pope Leo XIV ahead of lung surgery
Oct 12, 2026
CBCP urges prayers for Pope Leo XIV ahead of lung surgery

MANILA, Philippines — The Catholic Bishops’ Conference of the Philippines (CBCP) has urged Filipino Catholics to pray for Pope Leo XIV as he prepares to undergo lung surgery. In a statement issued on Monday, CBCP president and Lipa Archbishop Gilbert Garcera urged bishops and priests to offer Masses for the pope’s successful surgery and full

Trump, Rubio consider firing Kimberly Guilfoyle as ambassador to Greece: AP source
Oct 12, 2026
Trump, Rubio consider firing Kimberly Guilfoyle as ambassador to Greece: AP source

President Trump and Secretary of State Marco Rubio are considering firing U.S. Ambassador to Greece Kimberly Guilfoyle after a series of explosive reports alleging she engaged in misconduct during her tenure in Athens. A senior U.S. official told The Associated Press on Sunday that Trump and Rubio are “extremely pissed off” over Guilfoyle’s questionable actions...

‘Shows How Strong Mr Modi Is’: Trump Left Gasping After PM Modi’s Handshake, Ex-US NSA Recalls
Oct 12, 2026
‘Shows How Strong Mr Modi Is’: Trump Left Gasping After PM Modi’s Handshake, Ex-US NSA Recalls

Trump’s handshake style has attracted considerable attention in the American media.

Trump's 'energy ceasefire' sparks confusion as Russia strikes Ukraine
Oct 12, 2026
Trump's 'energy ceasefire' sparks confusion as Russia strikes Ukraine

WASHINGTON — U.S. President Donald Trump sowed confusion on Sunday, announcing an "energy ceasefire" between Ukraine and Russia that sparked astonishment in Kyiv, silence from Moscow and support from Ukraine's Western allies. But the ceasefire appeared shaky at best as Ukrainian President Volodymyr Zelenskyy said Russia struck multiple Ukrainian power plants on Sunday, including one in the capital and another in Kharkiv, leading to power outages and outrage. Trump's announcement came two days after he declared a temporary easing of U.S. sanctions on Russian diesel, prompting outrage by European allies and Kyiv, who said it would only embolden Russian President Vladimir Putin. "Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine," Trump said early Sunday on Truth Social. "Both parties have agreed. Do not break it!" Zelenskyy appeared to express surprise at the announcement, saying he was seeking further details, but added that "Ukraine supports the ceasefire, and it is important that Russia support it as well." Russia has yet to confirm its agreement

Policymakers take on energy shock, rising debt at IMF-World Bank meetings
Oct 12, 2026
Policymakers take on energy shock, rising debt at IMF-World Bank meetings

BANGKOK — Finance ministers and central bankers meet in Bangkok this week for the annual gatherings of the International Monetary Fund (IMF) and World Bank, with the global economy buffeted between the U.S.-Iran war's energy shock, rising debt pressures and the AI boom. The meetings run from Monday through Saturday in the Thai capital, and will see policymakers tackle some stark choices, with the IMF calling on governments to rein in spending even as vulnerable citizens' needs may be growing in the face of surging inflation and climate risks. The week will see a combination of high-level closed-door meetings, public events and policy announcements from the world's top economic officials. On Tuesday, the IMF will unveil its global economic forecast, along with detailed regional outlooks through the week, as policymakers set about tackling the challenges darkening the economic horizon. "To put it simply, the global economy is being pulled in two opposite directions: a negative energy supply shock and a positive demand shock from AI," said IMF chief Kristalina Georgieva at an event kickin

Iran calls latest US response to proposal insufficient, other Mideast developments
Oct 12, 2026
Iran calls latest US response to proposal insufficient, other Mideast developments

A senior Iranian official says Tehran finds the latest U.S. response to a proposal to end the war “insufficient" and warns of attacks on regional data centers and cables if fighting intensifies again. Meanwhile, Israel’s former attorney general took the witness stand in corruption cases against Benjamin Netanyahu, as the political future of the country's longest-serving prime minister hangs in the balance with elections weeks away. Iran says latest US response is ‘insufficient’ The head of Iran’s Supreme National Security Council says Tehran finds the latest response from the United States “insufficient” as efforts at negotiations to end the war and fully open the Strait of Hormuz limp along. The comments by Mohsen Rezaei, a former Revolutionary Guard commander, were carried by Iran’s state-run IRNA news agency. Rezaei added that Iran is no longer responding to the U.S. and said Washington must clarify certain issues, without giving details. He said the U.S. has accepted some of the seven conditions but others remain unclear. Iran’s delegation to the annual U.N. gathering

139 migrants, including children, die after boat capsizes off Djibouti
Oct 12, 2026
139 migrants, including children, die after boat capsizes off Djibouti

GENEVA — At least 139 people, including children, have died after a boat carrying more than 300 migrants capsized off the coast of Djibouti in east Africa, the International Organization for Migration said Sunday. That number only includes those buried by authorities in Djibouti. Others have been buried by the migrants themselves but they won't be added to the official count until authorities can verify the bodies, Alexandre Coissac, IOM Chief of Mission in Djibouti, told the AP via the phone. “What is terrible is that they were buried with no names, in a common grave, like in a war situation,” Coissac said. “They all have a mother, a father, and we may never learn what happened.” Coissac said the migrants boarded the ship in the evening of Oct. 8 and that it sank very soon after, close to the shore, “mainly because it was overcrowded.” “The local authorities did their best,” Coissac said, “but they were overwhelmed with all the bodies that kept coming at once towards the shore.” He said authorities were bringing the surviving migrants to the IOM rescue center in Obo

France's high school students plan fresh protests
Oct 12, 2026
France's high school students plan fresh protests

PARIS — France's high school students on Monday begin a new stage of their campaign for improved conditions, hoping to maintain the momentum with a fresh wave of demonstrations. The new protests, scheduled for Tuesday, could be a turning point in the movement, launched in mid-September, which the government hopes is already winding down. On Friday, the government noted a dramatic drop in the number of blockades and meetings outside the country's lycees, where students -- most between 15 and 18 -- complete their high school education. More than 96 percent were opening Friday, said the education ministry. The authorities are all the more keen to see the student protests end given that online activists have called for demonstrations next Saturday to protest the cost of living. For President Emmanuel Macron's administration, that brings back troubling memories of the grassroots Yellow Vest movement. Their protests, launched in 2018 over a planned fuel tax rise, saw massive demonstrations and clashes between police and protesters that shook the presidency during Macron's first term in office.

How Taiwan's military manpower shortage is undermining its ability to fight
Oct 12, 2026
How Taiwan's military manpower shortage is undermining its ability to fight

Taiwan’s military is grappling with a worsening manpower shortage, with its volunteer staffing rate remaining below the 80 percent target for a third consecutive year and concerns mounting over the impact on combat readiness, according to the island’s legislature. The shortages extend deep into frontline formations — including infantry, artillery, missile and air defence units — raising questions over whether Taiwan will have enough trained personnel to operate and maintain the vast quantities of new weapons entering service, observers said. A Legislative Yuan Budget Centre assessment of the government’s proposed 2027 budget warned this week that persistent personnel shortages could increase workloads and training demands on serving troops while affecting readiness. Defence ministry figures cited by the centre showed that the number of staff positions successfully filled by volunteers peaked at 88.52 percent in 2020 before falling below 80 percent in 2023. It dropped to 75.93 percent in 2024 and stood at 77.31 percent at the end of last year. A separate Budget Centre assessment

Urn with Anita Mui's ashes missing from Lantau monastery as family appeals for help
Oct 12, 2026
Urn with Anita Mui's ashes missing from Lantau monastery as family appeals for help

The urn containing the ashes of late Hong Kong Cantopop star Anita Mui Yim-fong was discovered missing from a monastery three months ago, the singer’s family has revealed, saying police have made “no progress” in their investigation and that the incident has caused “immense distress.” A police spokesman said on Sunday that the force had received a report on July 18 that an item stored in a Lantau monastery was suspected to have gone missing. The case has been classified as a “request for police assistance” and is being investigated by Lantau district crime squad. No arrest has been made so far, the spokesman said. Mui’s family made a public appeal for information on the whereabouts of the ashes in a statement issued on Saturday, Mui’s birthday. The singer, who died in 2003 aged 40, would have been 63. The statement, reposted by one of the singer’s biggest fan groups — the Anita Mui International Fan Club — on its Instagram account, said police had made no progress after a three-month investigation. “This incident has brought immense distress and mental torment to

Saudi airport passenger terminal is struck again, a day after 12 were killed
Oct 12, 2026
Saudi airport passenger terminal is struck again, a day after 12 were killed

CAIRO — A projectile struck a passenger terminal at the international airport in Riyadh on Sunday, a day after a missile hit the same terminal and killed 12 people , the Saudi-led coalition fighting Iran-backed Houthi rebels in Yemen said. The Houthis claimed responsibility for those attacks and others. Saudi authorities said one person, described as a Pakistani national, was killed, and 11 were injured in the latest attack on the domestic terminal complex at King Khalid International Airport. The airport — struck four times in the past five days — has been closed since Saturday’s missile attack, which was the deadliest in a Gulf Arab nation since the Iran war began. Over 300 other people were wounded, some critically. The sharp escalation in the war's new front threatens to draw in greater U.S. military involvement. President Donald Trump has said he is weighing joining the fight against the Houthis. There was no White House comment Sunday. India’s embassy in Saudi Arabia said one of its citizens died Sunday of injuries sustained in Saturday’s attack, which would bring the t

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