The Philippine economy expanded at a faster pace in the first quarter but the rate fell short of expectations on weaker domestic demand growth amid tight monetary policy. Gross domestic product grew 5.7 percent from a year ago after rising 5.5 percent in the fourth quarter of 2023, the Philippine Statistics Authority reported Thursday. Growth...
The U.S. dollar moved lower against its major counterparts in the New York session on Thursday, as strong jobless claims data raised the prospect of interest rate cuts this year. Data from the Labor Department showed that initial jobless claims climbed to 221,000 in the week ended March 30, an increase of 9,000 from the...
After reporting decreases by first-time claims for U.S. unemployment benefits over the two previous weeks, the Labor Department released a report on Thursday showing a modest rebound by initial jobless claims in the week ended August 17th. The report said initial jobless claims rose to 232,000, an increase of 4,000 from the previous weeks revised...
Digital Currency Group (DCG), the parent company of the now-defunct cryptocurrency lending platform Genesis Global Capital, has taken action to dismiss the lawsuit filed against it by New York Attorney General Letitia James. Additionally, DCG founder and CEO Barry Silbert has filed a motion to dismiss the accusations that he concealed losses at the firms, allegedly leading...
JAKARTA - PT Adaro Energy Indonesia Tbk (ADRO) will divest a maximum of 7 billion shares in PT Adaro Andalan Indonesia (AAI) to its shareholders (Public Offering by Shareholders/PUPS). This issuer will offer its shares in AAI to shareholders registered in the Shareholders Register (DPS) as of November 27, 2024. In an information disclosure quoted...
JAKARTA - PT Aspirasi Hidup Indonesia Tbk (ACES), a new constituent of Indeks Tempo-IDNFinancials 52, booked net profit of IDR 365.76 billion in the first half of 2024, up 21% year-on-year (yoy) from IDR 302.43 billion seen in H1 2023. This profit growth is, in fact, in line with 13.72% yoy revenue increase in the...
Senator Lummis’s proposed Bitcoin Bill seeks to establish a strategic reserve by allowing the Federal Reserve to acquire up to 5% of Bitcoin’s total supply, potentially strengthening the U.S. dollar and addressing national debt concerns.With a Republican majority in Congress, the bill’s chances of advancement are significantly improved, positioning the U.S. as a leading holder...
Blockchain-enabled Web3 fashion startup mmERCH announced its $6.4 million seed funding round at a $25.7 million post-money valuation led by Liberty City Ventures Thursday, a major step forward for the Colby Mugrabi-led fashion house. mmERCH Attracts an Assortment of High-Profile Investors According to a Thursday press release from mmERCH, funding from the round “will be...
Euro area economic confidence weakened unexpectedly to a three-month low in February, suggesting that the currency bloc remains close to recession, monthly survey data from the European Commission showed on Wednesday. The economic sentiment index fell to 95.4 from revised 96.1 in the previous month. The score was forecast to rise to 96.7. At -9.5,...
By Sarah Morland and Marion Giraldo MEXICO CITY (Reuters) -Mexican distiller Becle, the world\'s largest tequila producer, on Thursday posted a 41% rise in its net profit for the last three months of 2023 compared to a year earlier, above market forecasts even as sales slipped in key markets. The Mexico City-based firm, which sells...