Silicon Valley Bank Collapses
On March 10 local time, U.S. regulators took over the assets of Silicon Valley Bank (SVB) in an emergency. The United States has witnessed the largest bank failure since the collapse of Washington Mutual Bank in the 2008 financial crisis.
The Philippines Officially Joined RCEP
The Senate of the Philippine Congress formally approved the Regional Comprehensive Economic Partnership Agreement (RCEP) on the evening of the 21st, clearing the last domestic obstacle for the Philippines to join the world's largest free trade zone.
Earthquake Triggers Container Fire At Turkish Port
On 6th Feb. the Iskenderun Port on the Mediterranean coast in southern Turkey was hit by a container fire caused by an earthquake. The fire burned for two days, and many cargo ships were forced to transfer to other terminals.