logo
US gov't seen to make formal fighter-jet sale offer to PH ‘soon' — Lockheed Martin

US gov't seen to make formal fighter-jet sale offer to PH ‘soon' — Lockheed Martin

GMA Network2 days ago

An F-16 fighter jet from the US Pacific Air Forces is among the US aircraft participating in the Cope Thunder exercises with the Philippine Air Force starting Monday, April 7, 2025 in various PAF bases in Luzon. CHINO GASTON/GMA Integrated News/File photo
American aerospace and defense technology company Lockheed Martin has expressed optimism that the formal offer for the planned sale of $5.58-billion in F-16 fighter jets to the Philippines will be extended by the US government sooner.
At a press briefing in Taguig City on Wednesday, Lockheed Martin Integrated Fighter Group Business Development Vice President Aimee Burnett said, 'It is up to the US government to make that [formal] offer.'
She was asked to comment on Defense Secretary Gliberto Teodoro's pronouncement, at a defense summit in Singapore, that the Philippines is yet to receive a formal offer from the State Department to purchase 20 16 jets and related equipment.
To recall, last April, the State Department announced it has approved the sale of $5.58-billion F-16 fighter jets to the Philippines.
Burnett clarified that while Lockheed Martin will be providing the F-16 Block 70 jets, the discussions are still between the US and the Philippine governments.
The formal offer, she said, would be 'the decision to be made by the US government…'
'We do believe that it's gonna be soon… We do expect it to be soon but the exact date of that offer is up to the US government,' she said.
Burnett said that apart from F-16 jets, Lockheed Martin is also proposing the establishment of an Innovation Center in the Philippines — which would be the focal point for research and development collaboration, technology transfer and investment.
The defense technology company would also be providing maintenance, repair and overhaul capabilities to the country by providing technologies and equipment to local industrial partners to allow them to directly repair Philippine Air Force aircraft.
'Lockheed Martin's partnership with the Philippines extends beyond providing military capability…,' said Burnett, noting that the company's offer to the Philippines would be a 'total package approach' as it aims to train Filipino technicians, enable in-country maintenance, as well as allocate funds for research.
Last week, Philippine Ambassador to the US Jose Manuel Romualdez disclosed that the Philippines is working with the US and Lockheed Martin to determine how it can finance the major F-16 acquisition. — BAP, GMA Integrated News

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PH, China exchange radio challenges near Panata Island
PH, China exchange radio challenges near Panata Island

GMA Network

timean hour ago

  • GMA Network

PH, China exchange radio challenges near Panata Island

The Philippines and China exchanged radio challenges on Friday near Panata Island in the West Philippine Sea. According to a ''24 Oras'' report by Chino Gaston on Friday, BRP Andres Bonifacio detected a Jiangkai class frigate (bow number 525) and two militia vessels before 8 a.m. while on a maritime patrol. The Philippine Navy vessel issued a radio challenge, which was not immediately answered by the Chinese side. They were within 4.6 nautical miles of the Chinese ship. 'We conducted the standard radio challenge within the territorial waters of Panata Island. They counter-challenged, and we counter-challenged that Panata Island and KIG (Kalayaan Island Group) are part of the Philippines. Once we issued our radio challenge, they immediately changed their course, going to Subi Reef,' said BRP Andres Bonifacio commanding officer Lieutenant Commander Christian Malabanan. Malabanan added it was critical to follow the rules of engagement in line with government policies to prevent violent confrontations. 'One action of the tactical units, which is kami po, is we'll escalate or de-escalate a certain situation. So, kung ano po yung binigay sa amin ng ROE (rules of engagement), stick po kami doon, and if ano yung general [instruction] ng government natin, yung po yung sinusunod namin. Although yung pressure na dyan, sir… We are trained to have a decision na mag-conduct ng in-line to avoid any action na magiging detrimental naman po sa government namin,' he said. (One action of the tactical units, which is us, is we'll escalate or de-escalate a certain situation. So, whatever the ROE gives us, we will stick with it, and whatever the general [instruction] of the government is, that is what we follow. Although, the pressure is there… We are trained to have a decision to avoid any action that will be detrimental to the government.) Tensions continue as Beijing claims almost all of the South China Sea, including parts that fall within Manila's exclusive economic zone. In 2016, an international arbitration tribunal in the Hague ruled in favor of the Philippines over China's claims, but Beijing has not recognized the decision. —Jiselle Anne Casucian/VBL, GMA Integrated News

Rise in gold value drove up PH reserves to $105.5B in May 2025
Rise in gold value drove up PH reserves to $105.5B in May 2025

GMA Network

time5 hours ago

  • GMA Network

Rise in gold value drove up PH reserves to $105.5B in May 2025

'The month-on-month increase in the GIR level reflected mainly the upward valuation adjustments in the Bangko Sentral ng Pilipinas' gold holdings due to the increase in the price of gold in the international market, net income from the BSP's investments abroad, and national government's net foreign currency deposits with the BSP,' the central bank said. The country's foreign reserves snapped two straight months of decline in May as the increase in global gold prices drove up the value of the central bank's gold assets, offsetting the effect of tempered foreign investments amid uncertainty brought by US President Donald Trump's reciprocal tariff policy. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) showed the gross international reserves (GIR) —a measure of the country's ability to settle import payments and service foreign debt— amounted to $105.5 billion as of end-May from $105.3 billion as of end-April. 'The month-on-month increase in the GIR level reflected mainly the upward valuation adjustments in the Bangko Sentral ng Pilipinas' gold holdings due to the increase in the price of gold in the international market, net income from the BSP's investments abroad, and national government's net foreign currency deposits with the BSP,' the central bank said. The Philippine central bank's reserve assets include foreign investments, gold, foreign exchange, IMF reserve positions, and special drawing rights. Rizal Commercial Banking Corp. chief economist Michael Ricafort said the GIR increase during the period was 'due to the continued gains in gold holdings to all-time highs after world gold prices hovered near record highs recently ($3,500.10 per ounce on April 22, 2025),' which offset the decline in foreign investments 'amid the continued Trump risk factor/premium that led to some market volatility worldwide.' Net inflows of foreign direct investments (FDI) to the Philippines dropped to a 10-month low in February 2025 to $529 million, down 61.9% from $1.062 billion net inflows seen in February 2024, amid high base effects and global uncertainties weighing on foreign investors' sentiments. Ricafort said that value of the BSP's gold assets rose by 2.9% to $13.7 billion month-on-month 'largely reflecting and consistent with the elevated world gold prices, which again posted new record highs recently partly due to some flight to safe havens such as gold amid the recent global market volatility largely brought about uncertainties on Trump's higher US import tariffs.' Trump, in April, announced a sweeping reciprocal tariff policy on its trading partners, including the Philippines, which would be facing a 17% tariff on its imports to the US. Although it is lowest among its Southeast Asian peers, still the Philippine government was prompted to send a delegation to Washington to seek dialogue with US officials while a 90-day pause in implementing the trade policy was ongoing. 'The GIR is still above the $100-billion mark for the 20th straight month or since October 2023 —still a good signal, on the country's strong external position that could help stabilize the peso exchange rate and support the country's favorable credit ratings of 1-3 notches above the minimum investment grade in recent years despite the COVID-19 pandemic,' Ricafort said. The BSP said the latest GIR level provides a 'robust' external liquidity buffer, equivalent to 7.3 months' worth of imports of goods and payments of services and primary income or earnings of overseas Filipino workers and profits from Philippine investments abroad. By convention, GIR is viewed to be adequate if it can finance at least three months' worth of the country's imports of goods and payments of services and primary income. The end-May reserves would also cover about 3.7 times the country's short-term external debt based on residual maturity. Short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months. The level of GIR, as of a particular period, is considered adequate if it provides at least 100% cover for the payment of the country's foreign liabilities, public and private, falling due within the immediate 12-month period. Similarly, the net international reserves —the difference between GIR and the BSP's reserve liabilities (short-term foreign debt and credit and loans from the IMF)— grew by about $8 million from $105.26 billion as of end-April to $105.34 billion as of end-May. –NB, GMA Integrated News

US judge blocks Trump ban on entry of international Harvard students
US judge blocks Trump ban on entry of international Harvard students

GMA Network

time13 hours ago

  • GMA Network

US judge blocks Trump ban on entry of international Harvard students

BOSTON — A federal judge in Boston on Thursday temporarily blocked US President Donald Trump from barring US entry of foreign nationals seeking to study or participate in exchange programs at Harvard University. Under a two-page temporary restraining order granted to Harvard, US District Judge Allison Burroughs enjoined Trump's proclamation from taking effect pending further litigation of the matter amid an escalating dispute between the Ivy League school and Republican president. The judge ruled that Trump's directive prohibiting foreign nationals from entering the United States to study at Harvard for the next six months would cause "immediate and irreparable injury" before the courts have a chance to review the case. Burroughs last month had blocked Trump from implementing a separate order prohibiting Harvard from enrolling international students, who make up more than a quarter of its student body. Harvard on Thursday amended its lawsuit to challenge the new directive, claiming Trump is violating Burroughs' decision. "The Proclamation denies thousands of Harvard's students the right to come to this country to pursue their education and follow their dreams, and it denies Harvard the right to teach them. Without its international students, Harvard is not Harvard," the school said in the filing. Burroughs' order on Thursday also continued a separate temporary restraining order she issued on May 23 against the administration's restriction on international student enrollment at Harvard. Earlier on Thursday, White House spokesperson Abigail Jackson called Harvard "a hotbed of anti-American, anti-Semitic, pro-terrorist agitators," claims that the school has previously denied. "Harvard's behavior has jeopardized the integrity of the entire U.S. student and exchange visitor visa system and risks compromising national security. Now it must face the consequences of its actions," Jackson said in a statement. Trump cited national security concerns as justification for barring international students from entering the US to pursue studies at the Cambridge, Massachusetts-based university. Under Trump's proclamation, the suspension would initially be for six months but could be extended. Trump's order also directed the U.S. State Department to consider revoking academic or exchange visas of any current Harvard students who meet his proclamation's criteria. In Thursday's court filing, Harvard said Trump had violated federal law by failing to back up his claims about national security. "The Proclamation does not deem the entry of an alien or class of aliens to be detrimental to the interests of the United States, because noncitizens who are impacted by the Proclamation can enter the United States — just so long as they go somewhere other than Harvard," the school said. The Trump administration has launched a multifront attack on the nation's oldest and wealthiest university, freezing billions of dollars in grants and other funding and proposing to end its tax-exempt status, prompting a series of legal challenges. Harvard argues the administration is retaliating against it for refusing to accede to demands to control the school's governance, curriculum and the ideology of its faculty and students. The university sued after Homeland Security Secretary Kristi Noem announced on May 22 that her department was immediately revoking Harvard's Student and Exchange Visitor Program certification, which allows it to enroll foreign students. Noem's action was temporarily blocked almost immediately by Burroughs. On the eve of a hearing before her last week, the department changed course and said it would instead challenge Harvard's certification through a lengthier administrative process. Nonetheless, Burroughs said she planned to issue a longer-term preliminary injunction at Harvard's urging, saying one was necessary to give some protection to Harvard's international students. Wednesday's two-page directive from Trump said Harvard had "demonstrated a history of concerning foreign ties and radicalism," and had "extensive entanglements with foreign adversaries," including China. It said Harvard had seen a "drastic rise in crime in recent years while failing to discipline at least some categories of conduct violations on campus," and had failed to provide sufficient information to the Homeland Security Department about foreign students' "known illegal or dangerous activities." The school in Thursday's court filing said those claims were unsubstantiated. — Reuters

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store