00:00A delightful Tuesday evening to all of you. Yours truly, Ice Martinez here and pleased to bring you PTV News Now.
00:10So let's get to what people are talking about.
00:12President Ferdinand R. Marcos Jr. scores big in his first ever trip to the Gulf state of the United Arab Emirates on the second day of his working visit to the booming Mid-East country.
00:23Just by the demeanor and vibes exuded by the President and his eager hosts in his arrival at UAE's Al-Batin Executive Airport last night,
00:32one could sense something huge awaiting the President in his forthcoming meeting with the UAE President Mohammed bin Zayed Al-Nahyan, and his hosts should not disappoint.
00:42Earlier this afternoon, the President and his UAE counterpart witnessed the inking of a historic free trade deal which would slash tariffs,
00:50expand market access for goods and services, ramp up investments on both sides,
00:56and create new opportunities for Filipino professionals and service providers in the UAE.
01:02The Comprehensive Economic Partnership Agreement, or CEPA, also covers digital trade MSMEs,
01:08sustainable development, intellectual property, and competition and consumer protection, among others.
01:14Philippine exports expected to benefit include canned tuna, pineapples, bananas, electronics, and other high-demand commodities.
01:24Cavite Fort District Representative Francisco Kiko Barzaga is still serving the remainder of his suspension until the end of this month,
01:32and yet he has ran into trouble anew for his inflammatory, perhaps even libelous online remarks claimed by his peer and senior colleague,
01:40and the very same guy who initiated the ethics complaint that led to his 60-day suspension.
01:47Deputy House Speaker and National Unity Party stalwart Representative Ronald Puno confirmed earlier today
01:54he and certain members of the National Unity Party were unjustly accused by the Congressman Barzaga
02:01for allegedly having received bribes from the later Representative Martin Romuales
02:06to ensure his election as host or House Speaker in July 2026.
02:12The problem is Romuales ran uncontested, thereby casting doubt on Barzaga's rather illogical accusations.
02:19Barzaga claims he has received or approved to back up his claim
02:22and will do present them in February after his reinstatement to lawmaking duty.
02:27Federal Reserve Chair Jerome Powell, America's version of central bank governor,
02:34was appointed to his post in 2016 by then President Donald Trump in his first term as America's head of state.
02:41Powell has even enjoyed the confidence of Trump's successor or predecessor, Joe Biden,
02:46who expressed support for his tightened monetary policy and inflation,
02:51taming strategies during the height of the pandemic and thereafter.
02:54But Powell, after being shamed and insulted, no end, by President Donald Trump over the past year,
03:02calling him degrading names and a host of ad hominem attacks,
03:07has never responded or gone down to President's rather juvenile level.
03:12But yesterday's move by the DOJ on wishes of the President finally got Powell to speak out
03:17and refute what many deem is a politically motivated move against him,
03:22less than five months before he officially stepped down from his post in the spring.
03:28Good evening.
03:30On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas,
03:35threatening a criminal indictment related to my testimony before the Senate Banking Committee last June.
03:41That testimony concerned, in part, a multi-year project to renovate historic Federal Reserve office buildings.
03:50I have deep respect for the rule of law and for accountability in our democracy.
03:56No one, certainly not the chair of the Federal Reserve, is above the law.
04:00But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.
04:07This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings.
04:14It is not about Congress's oversight role.
04:17The Fed, through testimony and other public disclosures,
04:20made every effort to keep Congress informed about the renovation project.
04:24Those are pretexts.
04:27The threat of criminal charges is a consequence of the Federal Reserve setting interest rates
04:32based on our best assessment of what will serve the public,
04:36rather than following the preferences of the President.
04:41So we've come to the end of tonight's show.
04:43Join us anew tomorrow evening for another round of stories here and abroad,
04:47Breaking at the Hour.
04:49And always stay connected by catching the news right here.
04:52This has been Ice Martinez, wishing you a restful night ahead,
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