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 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 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.
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.