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Category: economy

The wealth beneath our soil should serve the Filipino people

MANILA, Philippines – Now that we have finally enacted the Enhanced Fiscal Regime for Large-Scale Metallic Mining (under Republic Act No. 12253), I want to explain why I fought so hard for one particular element of this law: transparency. As governor of Albay, I stood firmly against irresponsible mining. I was a supporter of Alyansa

How major US stock indexes fared Wednesday, 10/8/2025

Wall Street’s pause from its record-breaking rally didn’t last long. The S&P 500 climbed 0.6% on Wednesday, a day after snapping a seven-day winning streak, and set its latest all-time high. The Dow Jones Industrial Average edged down by 1 point, while the Nasdaq composite rose 1.1% to its own record. Stocks benefiting from the artificial-intelligence boom continued to pull the market higher following a nearly relentless rise since April. Gold continued its stellar year and pushed further past $4,000 per ounce.

Gold futures rise above $4,000 per ounce for the first time

NEW YORK, United States — Gold futures soared above $4,000 per troy ounce for the first time Tuesday, as many investors seek a safe place to park their money during the continuing U.S. government shutdown. The going price for New York spot gold had previously closed at $3,960.60 per troy ounce — the standard for

Why the psychology of ‘utang’ matters for the economy

MANILA, Philippines – Debt or “utang” is not just a financial tool anymore. It is the lifeline that keeps many Filipino families afloat. With consumer spending making up about 70 percent of the economy, every peso that is spent keeps the economy moving. When households keep buying, businesses do well but when they cut back,

Gold rally lifts Philippine dollar reserves to 11-month high

MANILA, Philippines — The Philippines’ gross international reserves rose to $108.8 billion in September, the highest in 11 months, as higher gold prices boosted the value of the central bank’s holdings. The figure climbed from $107.1 billion in August, reflecting gains from global gold prices, investment income, and foreign currency deposits by the national government,