Beige Book reinforces prospects of further Fed rate cut
With official jobs data unavailable due to the US government shutdown since October 1, markets turned to the Federal Reserve’s Beige Book for a pulse on the economy. It merely confirmed what previous official data showed—tepid business and economic activity that had earlier spurred the Fed to cut interest rates in hopes of jumpstarting a muted labor market.
Gold hits USD4,300 on trade jitters, possible Fed rate cut
Gold soared to a fresh record above USD4,300 an ounce Thursday, rallying for a fourth straight session as investors piled into safe havens amid deepening US-China tensions and growing bets on Federal Reserve rate cuts.
Court freezes bank, insurance assets linked to flood control project irregularities
The Court of Appeals (CA) has ordered the freezing of bank accounts and insurance policies held by individuals and corporations allegedly involved in anomalous flood control projects.
DOE adds 100 MW for run-of-river hydro FIT incentive
The Energy Regulatory Commission (ERC) under the Department of Energy (DOE) has allocated an additional 100 megawatts (MW) of capacity for run-of-river (ROR) hydro projects under the feed-in-tariff (FIT) scheme.
MPIC sustains double-digit growth, eyes expansion
Metro Pacific Investments Corp. (MPIC) reported continued double-digit growth in the third quarter, reinforcing its position as a key player in Philippine infrastructure and utilities. The conglomerate, which delisted earlier this year, is riding on strong momentum from its core businesses and expanding contributions from emerging ventures.
