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 Doris C. Dumlao
The local stock market ended a six-day run-up on Wednesday as investors weighed the risks of a US debt default as a result of the political stalemate that has held up passage of the US federal budget alongside concerns about weaker global economic prospects cited by the International Monetary Fund.
By Matthew Daly
President Barack Obama is hailing a last-minute deal that pulled the country back from the “fiscal cliff,” but warned that he “will not compromise” over his insistence that Congress lift the federal debt ceiling.
The Save Our Industries Act (Save Act), a bill that seeks to expand Philippines-United States trade in the textile and garments sectors, has been refiled in the US Senate and will soon be reintroduced in the US House of Representatives. Democrat Senator Daniel Inouye of Hawaii, one of the legislators who filed the original bill [...]
By Amy R. Remo
The Department of Trade and Industry is sending boxing champ Manny Pacquiao to help endorse to US legislators the passage of the Save Our Industries Act (Save Act), a bill expected to give the Philippine garments industry a much-needed boost.