US, Philippine Coast Guards Join Navy Drills Amid China Tensions
The sixth maritime cooperative activity was conducted on Tuesday in the waters of Occidental Mindoro and Palawan that's facing the resource-rich waterway, the Philippine military said in a statement on Wednesday.
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9 hours ago
- Yahoo
SM companies among Top 5 in ASEAN good governance
PASAY CITY, Philippines, Aug. 19, 2025 /PRNewswire/ -- The Association of Southeast Asian Nations (ASEAN) Capital Market Forum (ACMF) recognized SM Investments Corporation, the parent firm of the SM group, and its property arm, SM Prime Holdings, Inc. among the Top 5 Philippine publicly listed companies (PLCs) and Top 50 ASEAN PLCs. SM's banking arm, BDO Unibank, Inc. ranked among the Top 50 ASEAN PLCs. Among the six Philippine PLCs awarded, three were from the SM group. BDO was the only Philippine bank to earn a spot on the Top 50 list. In addition, China Banking Corporation (Chinabank), another financial institution under the SM group, was also named to the ASEAN Asset Class of publicly listed companies, an honor given to firms that have achieved consistently high scores under the ASEAN Corporate Governance Scorecard (ACGS). Anchored on the 2024 ACGS Regional Assessment, this is the second time the organization affirmed SM's corporate governance standards at par with internationally-accepted best practices after both SM Investments and SM Prime secured the top 5 spots in the Philippine Asset class and top 20 ASEAN Publicly Listed Companies in the 2022 awarding ceremony. "Good governance is essential to long-term value creation. We continue to align our governance practices with global standards to help build trust and deliver sustainable outcomes for our stakeholders and the communities we serve." said Frederic C. DyBuncio, President and Chief Executive Officer of SM Investments Corporation. "Our recognition at this year's ACGS Awards validates our commitment to building sustainable and resilient communities," said Jeffrey C. Lim, President of SM Prime Holdings. "It affirms our belief that good governance goes hand in hand with long-term value creation for shareholders and stakeholders alike." "BDO's corporate governance principles are about effective oversight, strict compliance with regulations, and sustainable value creation to promote the best interest of its various stakeholders. We value this recognition which affirms our deepest commitment to the highest standards of corporate governance practices," Nestor V. Tan, BDO Unibank, Inc. President said. "This recognition reaffirms Chinabank's steadfast commitment to responsible corporate governance that goes beyond compliance while embedding ethical stewardship into our culture," said Chinabank President and CEO Romeo D. Uyan, Jr. "We are driven by our goal to always create long-term value for our stakeholders." The ACGS evaluated 569 large-market-cap PLCs across the region, recognizing companies that uphold the highest standards of corporate governance aligned with international best practices. About SM Investments Corporation SM Investments Corporation is one of the leading Philippine companies that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy. For more information, please visit View original content to download multimedia: SOURCE SM Investments Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 hours ago
- Yahoo
China's First Crewed Tiltrotor Aircraft Is Flying
A new tiltrotor aircraft has appeared in China and is already undergoing flight testing — the first of its kind to take to the air in that country, at least that we know about. While the program remains generally mysterious, it's further evidence of growing Chinese interest in this class of aircraft. Although previous similar Chinese projects have typically been pitched for civilian missions, tiltrotors have clear military applications as the People's Liberation Army (PLA) continues to expand its reach across the Indo-Pacific region and seeks to assert control over the South China Sea. The designation of the new tiltrotor, as well as its design agency, remains unknown. However, there are unconfirmed rumors that Hafei Aviation Industry, best known as a manufacturer of light airplanes and helicopters, is responsible. Hafei is a subsidiary of Harbin, which is based in the city of the same name, but also has a presence in Beijing. In the past, models of similar-looking tiltrotors have been presented by the Aviation Industry Corporation of China (AVIC), the country's state-owned aerospace and defense conglomerate, which includes various different companies. ???Sure, why not at this Captain小潇 — Rick Joe (@RickJoe_PLA) August 18, 2025 It's also unclear when and where the available images originate from, but they began to circulate on social media recently. One image shows the new tiltrotor parked in a hangar, with another prototype of the same aircraft parked directly behind it. Overall, the Chinese tiltrotor is broadly similar in basic configuration and appearance to the Leonardo AW609, an aircraft we have looked at in detail in the past. The layout includes a cabin slung below a straight wing, with turboshaft engines in nacelles mounted at the wingtips. Each rotatable pod has a proprotor that can be positioned at various angles for different flight modes and regimes. The design has adopted Bell's new-generation tiltrotor technology, as used in the V-280 Valor, where instead of the whole nacelle rotating, only the front portion pivots. This solution is said to decrease complexity and increase reliability, as well as performance, compared with earlier tiltrotor concepts where the whole nacelle rotates, like on the V-22 Osprey — currently, the only in-service tiltrotor aircraft. The empennage on the Chinese design comprises a conventional high-mounted T-tail. It has a rudder, a feature that's absent from the AW609, which instead relies on its proprotors to control yaw. There is a small door providing access to the flight deck on each side of the fuselage, with a larger door on the right-hand side providing cabin access on the opposite side. The tricycle undercarriage is retractable, with a single wheel on each unit. In terms of size, the new Chinese tiltrotor appears to be in the same class as the AW609. The Italian design is considerably smaller than the U.S.-made V-22, with a maximum gross weight of 18,000 pounds compared with 52,000 pounds for the Osprey (in VTOL mode). Equipped with a pressurized cabin, the AW609 can accommodate up to 12 passengers in a high-density configuration, while a V-22 carries double that, or more still, depending on seating arrangement. The Osprey also comes equipped with a rear ramp, an aerial refueling probe, and the ability to transport slung loads. The performance parameters for the AW609 include a cruising speed of 270 knots, a range of up to 1,000 nautical miles with auxiliary fuel, and the ability to carry a useful load of 6,000 pounds, plus a 600-pound door hoist. Nevertheless, as we have discussed in the past, the AW609 has clear military potential, especially for certain specialist missions, despite initially being pitched for civilian work. Military missions in which tiltrotors are especially relevant include combat search and rescue (CSAR), special operations, amphibious assault, as well as humanitarian and disaster relief. Video of the AW609 AC4, fully representative of the final production configuration: China's tiltrotor, once formally unveiled, might well also be publicly described as a platform for commercial operations, but its capabilities mean that, if successful, it will surely catch the eye of the PLA too. The same was the case with China's UR6000, a large tiltrotor drone that appeared in prototype form late last year. While also stated as being developed for civilian missions, at least one rendering on the manufacturer's website now shows the UR6000 in PLA markings, the aircraft joining a growing family of fixed-wing Chinese transport drones that have dual-role civilian and military applications. The UR6000 has a stated maximum takeoff weight of over 13,000 pounds, putting it in broadly the same category as the crewed AW609. For the PLA, a tiltrotor in the class of the newly appeared aircraft would appear to be very well suited to a range of missions, especially in the Indo-Pacific theater. Here, the ability to maintain wartime operations without access to conventional airstrips is a key requirement. At the same time, the PLA has a significant requirement to deliver cargoes to remote locations, including Chinese island outposts in the South China Sea. Other mission areas could include any of the various islands, the ownership of which is disputed between China and other nations in the region. The same kinds of concerns are meanwhile forcing the U.S. military to rethink how best to address expeditionary missions in this environment. For the PLA, meanwhile, fighting in these kinds of areas is fundamental to its doctrine, reinforcing China's broader strategic ambitions to expand its reach across the Pacific, including operations from small island airstrips as well as a growing fleet of amphibious assault ships that would be ideal platforms for hosting a tiltrotor transport. Ultimately, the new tiltrotor would be too small to supplant the Change Z-8/Z-18 medium-lift helicopters that currently provide the most significant aerial lift capacity to China's amphibious forces, which are steadily adding more capabilities and growing in size. However, a navalized version of the tiltrotor could potentially take over some of the missions flown by the smaller Harbin Z-9 and the Black Hawk-like Harbin Z-20, which is fast becoming a more regular presence on PLA Navy vessels. Experience with the smaller tiltrotor would also provide very valuable data that could then inform the development of scaled-up versions or larger aircraft with the same capabilities. Like all tiltrotor designs, the Chinese offering combines the distinct advantages and disadvantages of these types of aircraft. To begin with, the rotors at the ends of its wings ensure the vertical takeoff and landing versatility of a helicopter. With the engine nacelles rotated, the aircraft will offer performance that is much closer to what's possible with conventional fixed-wing turboprop aircraft, especially in terms of speed and range. But ensuring those benefits can be achieved is a very costly endeavor and one that includes numerous penalties in terms of technological complexity. The V-22 had a fairly torturous path to service. Now that it's operational, the V-22's remarkable attributes continue to be balanced against less-than-outstanding readiness figures and a host of technical problems that have hampered its availability. It's also worth recalling that the AW609 has been in interminable development for many years, punctuated by delays and a fatal crash, reflecting the huge challenges of building a practical aircraft in this class. Like the AW609, the Chinese design should be considerably cheaper than the V-22, although it doesn't offer anything like the same level of capabilities in terms of all-around performance and especially load-lifting. China is increasingly successful in selling its aviation products to foreign nations, although it might face more challenges here with a tiltrotor. Even the V-22, combat-proven by the U.S. Marine Corps, has so far only secured a foreign sale to Japan (and that for a very modest number of aircraft). Other countries, including Israel and Indonesia, have shown interest in the Osprey, without buying any so far. Ultimately, another Bell product, the V-280 Valor, might enjoy more export success, with its second-generation tiltrotor technology and the fact it is smaller and potentially more affordable than the V-22, while still offering similar baseline capabilities in some respects. Other, more secretive tiltrotor designs are also under development in the United States, meanwhile. Therefore, it might be some time before the new Chinese tiltrotor enters operational service, whether for civilian, para-public, or military customers. At the same time, the appearance of a flying prototype underscores China's interest in these types of aircraft, which are undoubtedly very well suited to the kinds of island-hopping operations that would likely characterize a future large-scale conflict in the Indo-Pacific. As the first of its kind, as far as we know, this design could also help kickstart a number of other tiltrotor concepts in China, as they move from concept to reality. Contact the author: thomas@ Solve the daily Crossword
Yahoo
2 days ago
- Yahoo
Top German diplomat criticizes China ahead of Japan, Indonesia visit
German Foreign Minister Johann Wadephul, just ahead of a trip to Japan and Indonesia, criticized China on Sunday for its increasingly aggressive behaviour in the Taiwan Strait and the East and South China Seas. "Fundamental rules of our global coexistence are at stake here," he warned before his departure from the Hamburg Airport. This also has implications for Europe, he added. Germany is countering this by advocating for "an international order based on the strength of the rule of law and binding rules for all." Wadephul is scheduled to meet Japanese Prime Minister Shigeru Ishiba, Foreign Minister Takeshi Iwaya and several ministers responsible for economic affairs in Tokyo on Monday. A speech at a peace foundation is also planned. "Our freedom, our prosperity and our security—the goals that guide me as foreign minister—are not decided in Europe alone. They are decided especially in cooperation with strong partners worldwide," the minister said, explaining the purpose of his trip. Minister stresses importance of open sea routes "The Indo-Pacific is crucial in determining how secure the freedom of sea routes, global supply chains and, consequently, the economic development of the entire world remains," Wadephul said. This is of paramount importance for major exporting economies like Germany and Japan, as well as for emerging partners in the Association of Southeast Asian Nations (ASEAN), such as Indonesia, he said. Germany's foreign minister is set to visit Indonesia on Wednesday. He criticized China for challenging the economies of Germany and Japan with unfair and market-distorting trade practices. He also noted that US tariff policies are unsettling businesses in Europe and Asia. Germany, he said, is working with key partners like Japan and Indonesia to promote economic relations based on free trade, competition and fairness. Germany shares more with Japan than with almost any other country in the Indo-Pacific region, the minister added. "We are united by values and interests, and we face the same massive challenges that call our liberal way of life into question." Solve the daily Crossword
