Electricity sales rise lifts Repower 1Q earnings
Repower Energy Development Corp. (REDC), a run-of-river hydropower developer, posted a 32 percent year-on-year increase in net income to P92.5 million in the first quarter, driven by higher energy sales.
DITO revenue rises, 1Q net loss narrows
DITO CME Holdings Corp., the telecommunications arm of Davao-based businessman Dennis Uy, continued to incur losses in the first quarter, though at a slower pace, as expenses still outpaced earnings.
Moody’s strips U.S. of AAA Rating, citing debt surge
Moody’s Investors Service has downgraded the United States’ sovereign credit rating one notch from Aaa to Aa1, citing growing concerns over the country’s fiscal outlook, including surging debt levels and rising interest obligations.
BSP to suspend coin deposit machines program for review
The Bangko Sentral ng Pilipinas (BSP) said it will temporarily suspend the operation of Coin Deposit Machines (CoDMs) in select malls starting June 17 to conduct a comprehensive review aimed at enhancing the coin recirculation program.
DOH monitoring recent COVID-19 cases elsewhere in Southeast Asia
The Department of Health (DOH) said it is closely monitoring recent increases in COVID-19 cases elsewhere in Southeast Asia.
While the rise in cases has been noted in several neighboring countries, the DOH said there is currently no cause for alarm in the Philippines.
