TRUMP THREATENS FUNDING CUTS AHEAD OF JERUSALEM VOTE

WASHINGTON, D.C.: President Donald Trump threatened to cut funding on Wednesday (Thursday in Manila) to countries that vote against the United States on a motion at the United Nations condemning Washington’s recognition of Jerusalem as Israel’s capital. “All these nations that take our money and then vote against us at the Security Council and they vote against us potentially at the Assembly,” Trump said at the White House. “They take hundreds of millions of dollars and even billions of dollars and then they vote against us. Well, we’re watching those votes,” he continued. “Let them vote against us. We’ll save a lot. We don’t care.” Nikki Haley, Washington’s UN envoy, had warned countries Tuesday that she would report back to Trump with the names of those who supported a draft resolution rejecting the US recognition. Palestinian Foreign Minister Riyad al-Malki accused Washington of “threatening” member countries of the UN General Assembly ahead of Thursday’s vote.

IMF APPROVES $2B LOAN INSTALLMENT FOR EGYPT

WASHINGTON, D.C.: The International Monetary Fund on Wednesday approved the third installment of a $12 billion, three-year loan for Egypt, bringing the total released to date to just over $6 billion. The IMF board approved the latest $2 billion disbursement under the deal signed in November 2016, after a fund team last month praised Cairo’s progress on “bold” economic reforms. In order to obtain IMF approval for the loan, the country has implemented a set of drastic reforms, adopting a value-added tax, cutting energy subsidies and floating its pound. But the IMF said the country still has work to do. “The outlook is favorable, but will require sustained efforts to maintain prudent policies and advance structural reforms to support the authorities’ medium-term objective of inclusive growth and job creation,” said David Lipton, IMF first deputy managing director.

RUSSIA PARLIAMENT RATIFIES DEAL TO EXPAND SYRIA NAVAL FACILITY

MOSCOW: Russia’s parliament on Thursday ratified an agreement with Damascus to expand the Russian military’s naval facility in the Syrian port of Tartus. The agreement was signed in Syria in January and was sent last week by Russian President Vladimir Putin for ratification by the parliament’s lower house, the State Duma. Valid for 49 years, it allows for the expansion and modernization of the facility used by the Russian navy. Under the deal, a maximum of 11 Russian warships including nuclear-powered vessels can be present at Tartus at any given time. Deputy Defense Minister Nikolai Pankov said that the “agreement allows the expansion of the naval facility to 24 hectares free of charge.” During a surprise visit to Syria last week, Putin ordered a partial withdrawal of Russian troops from the war-torn country, after which the military said it had begun scaling back its deployment. Russia intervened in the Syrian conflict on the side of the Damascus regime in September 2015. Since then, its warships have played a prominent role backing up an aerial bombing campaign in support of leader Bashar al-Assad.