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Moody’s turns negative on US credit rating, draws Washington ire
Moody's on Friday lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
LTG nine-month income falls 6% on weak tobacco
LT Group Inc., the holding firm of most businesses of tycoon Lucio Tan, said net income in the nine months through September fell 6 percent to P19.25 billion from last year’s P20.41 billion, caused mainly by weaker tobacco business.
Disallowed expenses further complicate NGCP bookkeeping woes
Apart from having to refund prospectively billions of pesos worth of revenue claims, the National Grid Corporation of the Philippines (NGCP) also face the indignity of reclassifying an undetermined amount of expenses merely because its regulator, the Energy Regulator Commission (ERC), failed to do its mandate.
Malaysia’s price controls keep rice production low, exacerbating shortages
In September, amid a shortage of white rice in Malaysia, rice mill operator and wholesaler Allen Lim started receiving calls from supermarkets asking for additional supplies. But he had to turn them down.
IMF executive board green lights proposal boosting member country quota contributions
The 24-member Executive Board of the International Monetary Fund has approved the proposal significantly increasing so-called the country quota of member countries like the Philippines.
