China’s Huafa abandons domestic AAA rating amid Fitch downgrade, bond market jitters

South China Morning Post - Nov 12, 2026

Zhuhai Huafa Group, a heavily indebted state-owned enterprise whose recent troubles rattled China’s bond market, has voluntarily ended its engagement with a major domestic credit assessor, leading to the withdrawal of its AAA rating after an international ratings agency downgraded the firm. Huafa – the largest enterprise owned by the government of Zhuhai, a city in southern China’s Guangdong province – disclosed in a filing to the Shanghai Stock Exchange on Tuesday that it would terminate its...

Read full article

More News

BSP maintains 3% a month interest rate cap on credit card transactions

Nov 12, 2026

BSP maintains 3% a month interest rate cap on credit card transactions

The Bangko Sentral ng Pilipinas (BSP) on Thursday announced it has retained the 3% interest rate per month ceiling on credit card transactions as part of efforts to provide relief to Filipino borrowers.

Thailand Business News — Morning Briefing

Nov 12, 2026

Thailand Business News — Morning Briefing

The United States is one of Thailand's most important export destinations, with bilateral merchandise trade exceeding US$110 billion in 2025.

Jumbo BSP rate hike still possible despite anemic Q3 growth

Nov 12, 2026

Jumbo BSP rate hike still possible despite anemic Q3 growth

MANILA, Philippines — A jumbo rate hike may still be on the table for the Bangko Sentral ng Pilipinas (BSP) despite the sluggish economic growth in the third quarter, with the primary goal of cooling off hot inflation that has been squeezing household budgets. In a commentary, economists at Nomura Global Markets Research said they still

BIR admits exposure of taxpayer profile data in recent cyber breach

Nov 12, 2026

BIR admits exposure of taxpayer profile data in recent cyber breach

MANILA, Philippines — The Bureau of Internal Revenue (BIR) admitted that taxpayer profile data may have been exposed in a cyber breach while continuing to investigate the incident and assess its privacy impact. “The BIR assures the public that the integrity of all internal database infrastructure and systems remains intact. Initial findings indicate that no

FDI inflows surged to 7-month high in August

Nov 12, 2026

FDI inflows surged to 7-month high in August

MANILA, Philippines — Net inflows of foreign direct investments (FDI) to the Philippines rose to a seven-month high in August, though the overall investment picture remained challenging as global headwinds continued to fray investor nerves. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed FDIs posted a net gain of $690 million, up 24.9 percent

SM Investments 9-mo bottom line rose 9% to P70.2 billion

Nov 12, 2026

SM Investments 9-mo bottom line rose 9% to P70.2 billion

MANILA, Philippines — SM Investments Corp. (SMIC) remained resilient despite weaker economic growth as it saw its earnings grow by 9 percent to P70.2 billion in the first three quarters of this year. SMIC’s consolidated revenues also went up by 5 percent to P506.8 billion from P482.3 billion. READ: Consumer spending lifts SMIC earnings The

Output surge boosts ACEN earnings by 84%

Nov 12, 2026

Output surge boosts ACEN earnings by 84%

MANILA, Philippines — ACEN Corp., the energy arm of the Ayala Group, finished the first nine months strong, with its profit soaring by 84 percent amid a surge in power output. The renewable energy producer said its net income attributable to equity holders of the parent firm had hit P3.3 billion, a significant improvement from the

DOE relaunches coal contract auction

Nov 12, 2026

DOE relaunches coal contract auction

MANILA, Philippines — The Department of Energy (DOE) has relaunched its controversial coal mine bidding, with the award set for early next year, even as investors raised concerns about the asset-surrender rule. The DOE is ready to welcome proposals from potential new coal operators, as it officially issued a notice of bidding “pursuant to DOE-Department

New terminals buoy ICTSI profit

Nov 12, 2026

New terminals buoy ICTSI profit

MANILA, Philippines — International Container Terminal Services Inc. (ICTSI) extended its strong 2026 run, boosting its bottom line by 20 percent in the first nine months as newly integrated terminals drove brisk cargo movement. Double-digit increases were recorded in the company’s cargo volumes, revenues and earnings. READ: ICTSI first half profit up 15% to $483.84 million

Globe prepares first of 3 undersea cables

Nov 12, 2026

Globe prepares first of 3 undersea cables

MANILA, Philippines — Globe Telecom Inc. is preparing to switch on the first of its three new international submarine cable systems by 2027, as it seeks to beef up its network capacity and redundancies against disruptions caused by cable cuts. In a media briefing on Wednesday, the Ayala-backed telco said the Asia Link Cable (ALC)

Luzon spot power rates surged 51%

Nov 12, 2026

Luzon spot power rates surged 51%

MANILA, Philippines — Households and businesses in Luzon may have to shell out more to settle their power bills this month, as the prices of electricity traded at the spot market spiked by 51.2 percent to P7.83 per kilowatt-hour (kWh) in October. Data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed on

BOI to reach P1-trillion investment goal in 2026

Nov 12, 2026

BOI to reach P1-trillion investment goal in 2026

MANILA, Philippines — The country’s largest investment promotion agency (IPA) is confident of ending the year with at least P1 trillion in approved investments, enough to meet its full-year target. Board of Investments (BOI) managing head Ceferino Rodolfo said the agency would “definitely” achieve its trillion-peso goal, banking on renewable energy and infrastructure projects still in

Recommended