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(Updated with additional details, official comment) The Philippines received another credit rating upgrade from Moody’s Investors Service on Thursday, with the outlook stable. Raising the country’s credit rating by a notch to Baa2 from Baa3, the global ratings agency said it based its decision on ongoing debt reduction, aided by…

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(Updates with official, private analyst comments; additional details) The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) decided to keep its key interest rates unchanged at the policy meeting on Thursday, seeing inflation largely stable amid global risks. “The Monetary Board’s decision is based on its assessment that the…

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The credit quality of banks in Asian countries like the Philippines is expected to remain stable next year despite increasing credit costs and weakening asset quality, Moody’s Investors Service said in a report. In its just released “2015 Outlook – Asian Banks: On Solid Footing Against Rising Credit Headwinds” report,…

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The Philippine Stock Exchange index (PSEi) dropped on Thursday as the local market joined other Asian markets in reacting to Wall Street’s steep decline overnight. The benchmark stock index closed 102.98 points or 1.44 percent lower at 7,072.10, while the wider All Shares index erased 58.67 points or 1.39 percent…

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THE implementation of the mandated conversion of diesel fuel from a two-percent biodiesel blend to five percent biodiesel has been delayed while the Department of Energy (DOE) waits for the results of an economic impact study. The shift to a higher concentration of biodiesel was mandated by the Biofuels Act…

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QUITO: Ecuador’s hugely popular leftist president, Rafael Correa, was sworn in to a second term Friday, with energy reform and expanded overseas trade topping his agenda. Correa, 50, took the oath of office at a ceremony held before the federal legislature attended by various foreign leaders and dignitaries, including Haitian…

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MOSCOW: A massive undersea earthquake on Friday in Russia’s Far East prompted a tsunami warning and was felt in cities including Moscow far to the west, but there were no immediate reports of casualties. The US Global Survey estimated the quake at 8.2 magnitude and placed its epicenter in the…

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LONDON: British police made two further arrests on Thursday and raided houses across London following the brutal murder of a serving soldier who survived a tour of duty in Afghanistan. Prime Minister David Cameron appealed for calm after 25-year-old Lee Rigby was butchered outside a London Army barracks on Wednesday,…

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MOSCOW: Russia said on Friday that the Damascus regime had agreed “in principle” to attend an international peace conference on the Syria crisis that world powers hope will take place in Geneva in June. “We note with satisfaction that we have received an agreement in principle from Damascus to attend…

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LOS ANGELES: A highway bridge over a river in the northwestern US state of Washington partially collapsed Thursday, sending   cars and people plunging into the water below without causing any fatalities. Three people were fished out but there were no reports of serious injuries or fatalities in the incident, which…

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WASHINGTON: President Barack Obama laid out new guidelines for drone strikes on Thursday and launched a fresh bid to close Guantanamo, warning that a “perpetual” US war on terror would be self-defeating. Obama told Americans their country was at a crossroads, and must move on from the counterterrorism policies deployed…

Today's Breaking News

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Rep. Regina Reyes of Marinduque province won’t give up her post as a member of the House of Representatives even if she has been deemed disqualified by the Supreme Court on Tuesday. Reyes, in a chance interview with reporters, made the stance on the day that the High Court ruled…

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Malacañang on Tuesday defended the appointment of Melchor Carandang as new overall deputy Ombudsman. Some have questioned his appointment since he reportedly prevailed over a robbery-extortion charge filed against him before the Quezon City Prosecutors Office. Presidential Communications Secretary Herminio Coloma Jr., however, said that Carandang went through proper vetting.…

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IN the wake of devastation in the provinces of Bohol  and Cebu brought by the killer quake, the United Nationalist Alliance (UNA) on Tuesday called on both national and local officials to set aside political retribution. Instead, UNA Secretary General and Navotas Rep. Tobias “Toby” Tiangco said national and local…

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Merely two weeks after Typhoon Santi entered and left the country, some parts of Central Luzon, specifically in Nueva Ecija and Aurora province, still suffer from power outage after transmission facilities for these areas have been heavily damaged by the weather disturbance. “We are taking all necessary precautions and actions…