By Paolo G. Montecillo
The Philippine government has stressed the importance of strengthening ties with the United States, which a top official said would play a key role in promoting inclusive growth in the country.
The U.S. economy added 204,000 jobs in October, an unexpected burst of hiring in a month when the government was partly shut down for 16 days. And far more jobs were added in August and September than previously thought.
Asian shares mostly rose Thursday after US lawmakers passed a last-minute bill to reopen the government and raise the country’s borrowing limit, avoiding a devastating default that threatened to spark another global recession.
By Michelle V. Remo
Finance Secretary Cesar Purisima has expressed alarm over a potential default by the United States government, saying such an event will bring down not only the world’s biggest economy but also emerging markets like the Philippines.
Hong Kong shares jumped 1.25 percent on Friday morning as President Barack Obama and Republicans held talks to end a budget stand-off that threatens to plunge the US into default.