Abbey M.

Finance ministers of the Group of Seven, or G7, convened to address the energy crisis stemming from the ongoing unrest in the Middle East. 

Among the key options placed on the table was the release of strategic oil reserves to stabilize global markets. 

The group said it would examine developments in the Gulf from an economic perspective.

While no agreement has been reached, G7 countries assured that there is currently no indication that tapping into their emergency oil stocks is necessary amid the crisis.

United States President Donald Trump said the American military operation dubbed "Epic Fury" is projected to last four to five weeks, with the possibility of extending further if necessary.

The operation aims to halt the development of Iran's nuclear and ballistic missile programs and dismantle its capabilities, which the US considers a threat to its security and that of its allies.

Trump said his administration had planned for this timeline from the start. 

"Whatever it takes — we projected four to five weeks, but we have the capability to go far longer than that," he said.

The US president described the strikes as a long-planned strategic decision, calling it the last window to act against the Iranian regime. 

"This was our last best chance to strike and eliminate the intolerable threats posed by this sick and sinister regime," Trump said.

He outlined the key objectives of the operation, which include destroying Iran's missile capabilities, cutting off its support for militant groups, and ensuring it cannot develop a nuclear weapon. 

"Our objectives are clear. First, we're destroying Iran's missile capabilities," he said.

Trump also acknowledged that American service personnel have been killed in the course of the operation. Despite this, he said the United States is resolved to press on. 

"In their memory, we continue this mission with ferocious, unyielding resolve to crush the threat this terrorist regime poses to the American people," the US president said.

Vice President Sara Duterte filed a perjury complaint today against Ramil Madriaga, the man who allegedly identified himself as her bagman.

The filing comes after Madriaga claimed in an affidavit submitted to the Office of the Ombudsman that he had delivered large sums of money to various individuals under Duterte’s instructions, a claim the Vice President strongly denied.

In an official statement, the Vice President said she wants to hold Madriaga accountable for his lies. 

Duterte stressed that she will not allow fabricated stories to be used to deceive the public.

MANILA – Mamamayang Liberal party-list Rep. Leila De Lima was named the new House senior deputy minority leader on Tuesday, replacing Caloocan City Rep. Edgar Erice.

House Minority Leader Marcelino Libanan moved to replace Erice and nominate De Lima during the regular House session. The motion was joined by the majority bloc, as manifested by House Deputy Majority Leader Ronald Singson of Ilocos Sur.

The leadership change came on the same day that Erice publicly criticized President Ferdinand Marcos Jr. and his allies in the House for what he described as taking the public for a ride over the Anti-Political Dynasty bill, which he said was being falsely presented as a legislative priority.

MANILA – President Ferdinand R. Marcos Jr. on March 3 welcomed South Korean President Lee Jae Myung at Malacañang Palace for a two-day state visit focused on strengthening bilateral ties in defense, maritime security, and economic relations.

Marcos and FL Liza Marcos accorded arrival honors to Lee at the Kalayaan Grounds. The South Korean leader was accompanied by First Lady Kim Hea Kyung.

The visit marks the first by a South Korean head of state to the Philippines since the Philippines-Republic of Korea Free Trade Agreement took effect on December 31, 2024.

Following the welcome ceremony, Lee signed the Palace guestbook before proceeding to a bilateral meeting with Marcos. Key Cabinet members joined the Philippine side, including Trade Secretary Cristina Aldeguer-Roque, Finance Secretary Frederick Go, Economic Planning Secretary Arsenio Balisacan, Interior Secretary Juanito Victor Remulla, Executive Secretary Ralph Recto, Education Secretary Sonny Angara, Agriculture Secretary Francisco Tiu-Laurel Jr., National Security Adviser Eduardo Año, and Presidential Communications Secretary Dave Gomez.

The two leaders are expected to discuss enhanced collaboration in defense and maritime security amid evolving regional and global security dynamics, as well as the broader implications of rising Middle East tensions on energy markets and supply chains.

After the bilateral talks, Marcos and Lee are scheduled to deliver a joint press statement and witness the signing and exchange of agreements between the two governments.

Milestone visit

Lee's state visit coincides with the 77th anniversary of the establishment of diplomatic relations between the Philippines and South Korea, which dates back to March 1949.

The two countries have elevated their ties to a strategic partnership in recent years, with cooperation spanning trade, infrastructure, energy, shipbuilding, and defense modernization.

Marcos and Lee last met on the sidelines of the Asia-Pacific Economic Cooperation Summit, which South Korea hosted in Gyeongju in October last year.

Lee arrived in the Philippines following a visit to Singapore. Upon arrival Tuesday, he paid tribute to Philippine national hero Dr. Jose Rizal at Luneta Park in Manila.