The Port of Cebu is a major potential SAF export hub for ASEAN, fueled by strong underlying drivers in the Philippines.

The Port of Cebu has been recognized as a key hub for potential Sustainable Aviation Fuel (SAF) exports within ASEAN. This strategic positioning highlights the Philippines’ burgeoning role in the global shift towards greener aviation fuels. The identification of Cebu underscores its existing infrastructure and logistical advantages, making it an attractive gateway for the region’s SAF trade.

This recognition is bolstered by strong underlying drivers within the Philippines that support SAF development and export. These factors likely include a growing commitment to renewable energy, favorable government policies, and the potential for robust domestic production of feedstocks necessary for SAF creation. The nation is increasingly investing in technologies and partnerships to capitalize on these strengths.

By leveraging the Port of Cebu, the Philippines is poised to not only meet its own sustainability goals but also to become a significant supplier of SAF to other ASEAN nations. This initiative represents a forward-thinking approach to aviation, aiming to reduce carbon footprints and foster a more environmentally responsible air travel industry across Southeast Asia.

Source : PH has huge potential in sustainable aviation fuel production | Philippine News Agency

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NEW YORK — GameStop Corp. shares jumped more than 4.7% in midday trading Wednesday, climbing to $25.61 as renewed retail investor enthusiasm and speculation around CEO Ryan Cohen’s ambitious turnaround plans fueled the latest surge in the iconic meme stock.

The video game retailer’s stock rose $1.15, or 4.70%, from Tuesday’s close of $24.46, with volume exceeding 3.5 million shares by late morning on the New York Stock Exchange. The move extended recent gains, pushing the stock up roughly 21% year-to-date in 2026 despite ongoing challenges in its core brick-and-mortar business.

Analysts and traders pointed to a combination of factors driving the uptick, including persistent short interest, options activity and lingering optimism that Cohen could execute a “transformational” acquisition using the company’s substantial cash reserves, estimated near $9 billion. Cohen has repeatedly signaled interest in a major deal involving a larger consumer-facing company that could dramatically reshape GameStop beyond traditional gaming retail.

The rally comes weeks after GameStop reported stronger-than-expected fourth-quarter results in late March, posting adjusted earnings per share of 49 cents versus expectations of around 30 cents. While revenue continued to decline amid industry shifts toward digital downloads, the company demonstrated improved profitability and gross margins, largely driven by its growing collectibles segment.

Cohen, who took the helm as chairman and later CEO after his activist push in 2020-2021, has focused on cost-cutting, including store closures, while building a war chest through conservative cash management and earlier capital raises. His vision includes pivoting toward higher-margin areas such as trading cards, collectibles and potentially e-commerce expansions or outright acquisitions.

In January, GameStop’s board approved a massive long-term performance award for Cohen tied to ambitious targets: achieving a $100 billion market capitalization and significant EBITDA milestones. The package, valued potentially at $35 billion in stock options and fully at-risk, requires shareholder approval at a special meeting expected in the coming months. Cohen has put his own money behind the effort, purchasing substantial blocks of shares earlier in the year.

Market watchers noted heightened options activity in recent sessions, with call volumes outpacing puts and strikes around $25 attracting particular interest. Such patterns often signal speculative bets on further upside among retail traders who helped propel GME to extraordinary heights during the 2021 short squeeze.

Short interest remains a key narrative for GME enthusiasts, though exact current figures fluctuate. The stock’s history of rapid, volatility-driven moves has kept it on watch lists for both momentum traders and skeptics who question the sustainability of a business still heavily tied to declining physical game sales.

GameStop has not held traditional earnings conference calls under Cohen’s leadership, instead releasing results with minimal forward guidance. The approach has frustrated some Wall Street analysts, who maintain cautious ratings and lower price targets around $13 to $22, citing structural headwinds in the gaming sector and execution risks on any major acquisition.

Yet retail sentiment on platforms like Reddit’s r/Superstonk and r/GME continues to celebrate signs of strategic patience. Supporters highlight the company’s debt-free balance sheet, cash position and Cohen’s track record at other ventures, including his earlier success with Chewy.

Broader market context also played a role Wednesday. Technology and consumer discretionary stocks showed mixed performance, but meme names occasionally decoupled from fundamentals on social media buzz. GameStop’s 52-week range spans from about $19.93 to $35.81, illustrating the stock’s capacity for sharp swings even years after its headline-making 2021 peak above $400 pre-split.

Company officials have emphasized a long-term focus on value creation rather than short-term quarterly optics. Recent initiatives include expanded collectibles offerings, Power Packs for digital trading cards and promotional trade-in deals aimed at refreshing inventory and engaging customers.

Industry analysts remain divided on GameStop’s path forward. Some see potential in leveraging its brand and customer base for adjacent businesses, while others warn that physical retail faces existential threats as console makers and publishers push digital-first models. The rise of PC gaming and subscription services has further pressured traditional store-based revenue.

Cohen has described potential deals as “very, very, very big,” fueling speculation around targets such as eBay or other e-commerce platforms that could complement GameStop’s ecosystem. Any such move would likely deploy a meaningful portion of the cash hoard, raising questions about integration risks and shareholder dilution concerns.

As of midday Wednesday, GameStop’s market capitalization hovered near $11 billion. The stock’s price-to-earnings ratio stood elevated compared with traditional retailers, reflecting the premium investors place on its unique meme status and Cohen’s vision.

Trading in GME remained subject to heightened volatility, with circuit breakers possible during extreme moves. The company has faced past scrutiny over rapid price swings and the role of social media coordination, though regulatory attention has eased since the 2021 events.

For long-term holders, the narrative centers on whether Cohen can deliver on transformation goals before cash reserves erode or competitive pressures intensify. Recent insider buying by Cohen and earlier mentions of investor Michael Burry adding positions have provided bullish signals, even if temporary.

Critics argue the stock’s valuation already incorporates optimistic acquisition scenarios, leaving limited margin of safety if deals fail to materialize or underperform. Consensus forecasts for 2026 project a wide range of possible outcomes, from modest averages around $23 to highly bullish scenarios exceeding $80 in some technical models.

GameStop employs roughly 12,000 people across its global operations, though workforce reductions have accompanied store rationalization efforts. The company continues to operate hundreds of locations while testing new formats and online enhancements.

As trading progressed Wednesday, attention turned to whether the intraday gains could hold into the close or spark another wave of retail participation. Volume remained solid but below some of the heavier sessions seen earlier in April.

The latest move underscores GameStop’s enduring appeal as a high-beta play in an otherwise subdued market for certain consumer stocks. While fundamentals show a shrinking core business offset by cash and profitability improvements, the story remains dominated by bets on Cohen’s next strategic chapter.

Investors should approach GME with caution given its history of extreme volatility. Those monitoring the name will watch closely for any updates on the performance award vote, acquisition developments or the next quarterly filing.

With the stock trading well off its 2021 highs but showing resilience in 2026, GameStop continues to captivate a dedicated following even as the broader retail landscape evolves rapidly around it.

Treasury Secretary Scott Bessent pushed back Wednesday after Sen. Chris Coons, D-Del., suggested temporary sanctions relief for Iran has granted the country $14 billion during the war.

During a fiery exchange at Wednesday’s Senate Appropriations Committee subcommittee hearing on the 2027 fiscal budget, Coons levied the charge at Bessent, noting that “estimates are” that Iran has gained $14 billion since the U.S. granted the Islamic Republic temporary oil waivers in March.

Citing President Donald Trump’s previous criticisms of former President Barack Obama for giving $1.7 billion to Iran, Coons said, “I don’t know how you described 14 billion, but you don’t have to read ‘The Art of War’ to know that helping your adversaries gain money while you’re at war is a terrible idea, and it’s shocking to me that the country’s currently profiting from the release of sanctions.”

Bessent disputed the characterization as a “myth” and “a DNC talking point.”

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Treasury Secretary Scott Bessent testifies during a House Financial Services Committee hearing “The Annual Report of the Financial Stability Oversight Council,” in Rayburn building on Feb. 4, 2026 (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

“If anyone would like to show me where that 14 billion comes from,” Bessent added.

“I look forward to an exchange of details on that. Mr. Secretary,” Coons shot back.

“Can exchange it in a very public forum,” Bessent continued.

Coons then asked Bessent point-blank, “Do you disagree that Iran has received significant additional revenue from their sales of oil because of sanctions relief?”

“Couldn’t disagree more,” Bessent replied.

“OK. But do you disagree that Russia has received significant additional revenue from the sanctions relief?” Coons asked.

Sen. Chris Coons, D-Del., walks through the Senate subway on his way to a vote in the Capitol May 4, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images / Getty Images)

Again, Bessent responded, “I couldn’t disagree more.”

Bessent proceeded to explain why the Treasury Department elected to provide temporary sanctions relief to Iran and Russia.

“Just as you are concerned about gasoline prices for the American consumer and for our Asian allies, as are we,” Bessent said.

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“Treasury was able to create more than 250 million barrels on the water. And the way to think about this is as they came in today, the oil prices are at $100. If we had not done that sanctions relief, they might have been at $150 because the world became very well supplied.

“So, if Russia was selling their oil at a 20% discount, I can tell you that 100% of 100 is less than 80% of 150. And the American consumer has been better off.”

U.S. Secretary of Treasury Scott Bessent and U.S. President Donald Trump look on during the White House Digital Assets Summit in the State Dining Room of the White House March 7, 2025, in Washington, D.C.  (Anna Moneymaker/Getty Images / Getty Images)

Treasury issued the relief to Iran through temporary 30-day oil waivers in March, then extended them another 30 days on Wednesday.

Bessent, again pushed by Coons, added that many U.S. allies in the Gulf and in Asia have requested foreign exchange swap lines.

“Swap lines, whether it’s from the Federal Reserve or the Treasury, are to maintain order and the dollar funding markets and to prevent the sale of U.S. assets in a disorderly way. So, the swap line would both benefit the UAE [United Arab Emirates] and the U.S. And, as I said, numerous other countries, including some of our Asian allies, have also requested them,” he said.

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Fox News Digital contacted the Treasury Department and Coons’ office for further comment but did not immediately receive a response.