Category Archives: economy

Cebu Oversea Hardware expands to Cavite

Posted on by
Reply

MANILA, Philippines — Cebu Overseas Hardware Company Inc. (Cohci) unveiled its flagship retail hub in Cavite on Friday.

The company aims to capitalize on the expanding home improvement and construction market in Southern Luzon.

As a family-owned enterprise, Cohci emphasized that its latest facility is strategically positioned to provide mid-to-premium products to homeowners, builders, and contractors at competitive prices.
https://business.inquirer.net/550613/cebu-oversea-hardware-expands-to-cavite

TaskUs opens 11th Philippine site in Las Piñas

Posted on by
Reply

MANILA, Philippines — US-based outsourcing company TaskUs Inc. has unveiled its 11th site in Las Piñas City, further expanding its presence in the Philippines.

The company announced that it is targeting to increase the number of “teammates” or employees at its Las Piñas office to 1,500, up from the current 700, by the end of this year.
https://business.inquirer.net/550605/tasksus-opens-11th-philippine-site-in-las-pinas

Rupees negative drift demands central bank firepower

Posted on by
Reply

By Nimesh Vora

**MUMBAI (Reuters)** – The Indian rupee is anticipated to face a difficult session on Friday, with most traders predicting that the central bank will likely intervene to prevent the currency from hitting a new all-time low.

The 1-month non-deliverable forward indicated the rupee will open flat to slightly weaker versus the U.S. dollar compared to Wednesday’s close of 88.69. India’s financial markets were closed on Thursday.

The rupee has been pressured in recent weeks by relentless dollar demand from importers, with sentiment remaining firmly skewed against the currency amid equity outflows and U.S.-India trade frictions. The Reserve Bank of India (RBI) has been stepping in to ensure the rupee’s decline remains orderly.

Central bank Governor Sanjay Malhotra reiterated earlier this week that the RBI is not defending any particular level of the currency and is instead focused on containing volatility and keeping moves measured.

The RBI support is “keeping things calm” for now, a currency trader at a bank said. However, overall sentiment remains weak, and the market wants to test the downside, he added.

Currency traders are closely watching the 88.80 level — the lifetime low for the rupee hit on Monday. With broad dollar demand keeping the pressure on, this level is seen as a key marker for potential intervention or a pause in the currency’s slide.

### Asian Cues

Asian cues did not lend any particular direction to the rupee on Friday, with peers mixed and the dollar index marginally higher.

A U.S. government shutdown has paused the release of key economic data, including Friday’s closely watched September jobs report, depriving markets of an important gauge for the Federal Reserve’s rate outlook.

With the official jobs report on hold, Wednesday’s private payrolls data drew heightened attention. The weak reading has increased expectations of a Federal Reserve rate cut this month.

“We could see a longer tail effect from the private jobs data, given the uncertainty around the payrolls release,” ING Bank said in a note.

### Key Indicators:

– One-month non-deliverable rupee forward at 88.86; onshore one-month forward premium at 14 paise
– Dollar index up at 97.86
– Brent crude futures up 0.3% at $64.3 per barrel
– Ten-year U.S. note yield at 4.1%
– As per NSDL data, foreign investors sold a net $453.4 million worth of Indian shares on September 30
– NSDL data shows foreign investors sold a net $12.1 million worth of Indian bonds on September 30
https://www.livemint.com/market/stock-market-news/rupees-negative-drift-demands-central-bank-firepower-11759460300977.html

Stablecoins to hit $1.9T as trust surpasses fees in exchanges

Posted on by
Reply

A Citi (NASDAQ: C) report has predicted that the stablecoin market will achieve a $1.9 trillion valuation by the end of the decade in its base case scenario, while leaving room for an additional growth spurt. Citi analysts described stablecoins as the “ChatGPT moment” for the institutional adoption of blockchain technology.

Akin to the rise of artificial intelligence (AI) chatbots, the report anticipates stablecoins will experience significant growth in valuation over the coming years. While Citi forecasts a $1.9 trillion base case valuation for the asset class, the report also suggests stablecoins could climb to $4 trillion by the end of 2030 in its bull case scenario.

Currently, the global stablecoin market capitalization sits at $307 billion, up from $200 billion at the start of 2025. Citi bases its prediction on the 58% growth stablecoins achieved in 2025 alone, with analysts forecasting that this upward trend will continue through the decade.

### Growing Momentum in Stablecoin Projects

Aside from the strong performance in 2025, Citi analysts have highlighted an influx of stablecoin project announcements within the ecosystem. Early in the year, Trump-backed World Liberty Financial (WLF) entered the stablecoin race with the launch of USD1. Additionally, a number of U.S.-based financial institutions are planning their own stablecoin rollouts.

Citi attributes this surge in stablecoin initiatives to fresh regulatory support in the U.S., notably marked by the signing of the GENIUS Act by U.S. President Donald Trump.

### Use Cases and Industry Impact

While use cases for stablecoins have expanded to include domestic and cross-border payments, Citi notes that the stablecoin boom will not completely overhaul the existing financial system. Instead, analysts view this innovation as continued progress toward smarter, more efficient finance.

“We don’t believe crypto will burn down the existing system,” the Citi report reads. “Rather, it is helping us reimagine it.”

The report points out that domestic payments systems are already capable of processing payments in real-time and at low costs, providing stiff competition for stablecoins. However, cross-border payments remain the primary use case for stablecoins, with fintech firms and traditional financial institutions making significant progress to reduce settlement times and fees.

### Challenges Facing Stablecoins

Despite the positive outlook, Citi’s forecast also acknowledges several challenges within the stablecoin sector.

– **Regulatory Uncertainty:** Outside the U.S., regulatory frameworks remain unclear, hindering global adoption.
– **Reserve Transparency:** Questions about the reserves backing stablecoins continue to be a concern for issuers.
– **Market Manipulation Allegations:** Some stablecoins have faced accusations related to market manipulation.
– **High-Profile Collapses:** Failures such as TerraUSD (UST) have raised fears over collateral transparency, prompting tighter regulatory measures.

—

### Digital Asset Exchange Users Prioritize Trust Over Low Fees: Kraken Survey

Mark Greenberg, global head of consumer at Kraken, revealed that U.S. digital asset users are not blindly chasing low fees but instead are weighing several factors when choosing an exchange.

The survey found:

– Only 16% of respondents cited fees as the primary consideration when selecting an exchange.
– 26% identified trustworthiness as the most important factor.
– 14% prioritized security features.

“As the market matures, investors value long-term confidence over short-term savings,” said Greenberg. “People want to know their assets are safe, that the platform is reliable, and that they can access the tools they need without unnecessary complexity.”

Interestingly, regulatory compliance was not a major concern for many users; only 6% said it influenced their exchange choice. Customer support was a significant factor for just 7% of respondents.

Given the variety of considerations, 44% of survey participants maintain accounts with at least two digital exchanges, while nearly 26% use over three platforms. This diversification allows users to manage platform risk and access a broader range of listings.

Kraken’s report also noted that trading volumes on decentralized exchanges have surged by 259% since 2024, driven by the increasing popularity of platforms like Hyperliquid and Astar.

—

### Stiff Competition Among U.S. Exchanges

While Coinbase (NASDAQ: COIN) holds the largest market share among digital asset exchanges, several competitors are eager to expand their presence.

Kraken is considering going public, with plans to raise funds ahead of a tentative IPO in 2025, following the footsteps of Gemini and Coinbase.

However, amid this flurry of IPO activity, a race for regulatory compliance is intensifying among U.S.-based exchanges. This competitive atmosphere is compounded by recent security concerns, including customer data leaks at Coinbase and critical bugs at Kraken. These issues have led users to approach exchange selection with increased caution.

—

### Watch | MiCA and the Future of Stablecoins: What Comes Next for Tether?

[Embedded YouTube video player]

—

The stablecoin market stands at a pivotal point, poised for significant growth amid supportive regulation, rising adoption, and evolving use cases. However, challenges related to regulatory clarity and security remain critical areas to watch as the industry matures.
https://bitcoinethereumnews.com/tech/stablecoins-to-hit-1-9t-as-trust-surpasses-fees-in-exchanges/?utm_source=rss&utm_medium=rss&utm_campaign=stablecoins-to-hit-1-9t-as-trust-surpasses-fees-in-exchanges

Travel experts predict holidays will soon become ‘cheaper and easier to book’

Posted on by
Reply

On Monday, the artificial intelligence giant OpenAI introduced a feature that allows users to make purchases through ChatGPT, in partnership with Etsy and Shopify. This development is set to pave the way for a significant transformation in the travel industry, with experts predicting a “massively disruptive” tech update on how we book holidays.

OpenAI announced, “Users can now buy directly from US Etsy sellers right in chat, with over a million Shopify merchants, like Glossier, SKIMS, Spanx, and Vuori, coming soon. Today, Instant Checkout supports single-item purchases. Next, we’ll add multi-item carts and expand merchants and regions.”

This move is poised to disrupt the online commerce world, as ChatGPT’s 700 million weekly users will soon be able to shop directly through the AI interface without visiting other websites. This integration will give OpenAI considerable influence in e-commerce and generate significant revenue through fees from sellers.

Following the announcement, experts in the future of travel predicted a world where ChatGPT, or another similar large-language model, could achieve market dominance and evolve into a “super-app” — serving as a portal to every part of the internet.

Travel enthusiasts already use AI to plan holidays in great detail. However, the key difference in the future will be the ability to book an entire holiday with just a few clicks, without ever leaving the AI interface, experts say.

At the World Travel and Tourism Council (WTTC) summit in Rome on Tuesday, Bloomberg anchor Guy Johnson remarked, “That is a huge shift. That is a new model. That is massively disruptive.”

Gaurav Bhatnagar, co-founder of TBO.com, predicted that these changes would be positive from a customer perspective. “The quality of service will improve. You will need fewer people (as a travel company). From a customer’s perspective, it will be cheaper, easier to book, and the experience will be better,” he explained.

For travel companies, however, the impact will be even more profound. Bhatnagar suggested that when ChatGPT takes a customer to the booking stage, it might send the holiday plan to its clients and ask who wants to bid for the booking. “My guess is that ChatGPT wants to replace Amazon, Booking.com, to become the super app,” he added.

Paolo Benanti, president of the AI Commission for Information and a member of the UN Advisory Board on AI, shared a similarly optimistic view: “You would expect that an AI agent could arrange [travel] more accurately than a human can.”

The prospect of an AI revolution in travel has been developing for several years. At last year’s WTTC summit, similar predictions were made about how large language models could create personalized travel itineraries for holidaymakers.

Despite the potential, the travel and tourism industry faces challenges in adopting AI. These include a shortage of AI-skilled workers, limited AI infrastructure, and the absence of formal AI strategies in many business plans.

The WTTC has urged travel and tourism businesses to embrace AI as a strategic priority, urging heavy investment in talent to foster collaboration between humans and AI.

With these advancements, the way we plan and book holidays could soon be forever changed — making travel simpler, more efficient, and personalized through the power of artificial intelligence.
https://www.mirror.co.uk/travel/news/travel-experts-predict-holidays-soon-35990157

‘Dependence mustn’t turn into compulsion’: RSS chief amid US tariffs

Posted on by
Reply

**‘Dependence mustn’t turn into compulsion’: RSS Chief Mohan Bhagwat on US Tariffs**

*By Chanshimla Varah | Oct 02, 2025, 10:46 AM*

At the Vijayadashami event in Nagpur, Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat addressed the recent tariff policy imposed by the United States on Indian goods. He stated that the US’s move was primarily “done keeping in mind the interest of their own.”

Bhagwat emphasized the reality of global interdependence but cautioned that it should never turn into compulsion. He urged India to focus on *swadeshi* (self-reliance) as the only viable path forward. “Our harmony must be our own,” he remarked, underlining the importance of national self-sufficiency.

**Regional Stability: Concerns Over Nepal, Sri Lanka, and Bangladesh**

The RSS chief also commented on the recent unrest in neighboring countries such as Nepal, Sri Lanka, and Bangladesh. He warned that such violent disturbances could invite foreign interference and lead to chaos.

“Violent uprisings only lead to anarchy,” Bhagwat said, adding that forces intent on creating disorder in Bharat are active both inside and outside the country. He distinguished between democratic movements, which bring change, and violent revolts, which do not. Reflecting on history, he noted, “France rose against its king and Napoleon became emperor. So many so-called socialist movements happened; all these socialist countries are now capitalist.”

**National Harmony: Response to the Recent Attack in Pahalgam**

Addressing India’s rich diversity, Mohan Bhagwat stressed the need to embrace differences within the framework of law. He condemned actions that provoke communities and called for fair administration.

“The administration must act fairly, but the youth must also stay alert and intervene if needed. The grammar of anarchy needs to be stopped,” he asserted. He further emphasized that an “us” versus “them” mentality is unacceptable in a united India.

**Economic Focus: Supporting Swadeshi and Prime Minister Modi’s Push for Local Products**

The call for self-reliance echoes Prime Minister Narendra Modi’s recent appeals encouraging Indians to buy products made in India. Modi highlighted the importance of recognizing and supporting locally crafted goods produced through the hard work of the country’s youth.

“Often, we don’t even know if the comb in our pocket is made in India or abroad. We should buy products that are Made in India, crafted through the hard work of our country’s sons and daughters,” Modi said in one of his speeches.

—

As India navigates international economic challenges and regional uncertainties, leaders continue to stress the importance of self-reliance, national harmony, and democratic change driven by peaceful means.
https://www.newsbytesapp.com/news/india/dependence-mustn-t-turn-into-compulsion-rss-chief-amid-us-tariffs/story

‘Dependence mustn’t turn into compulsion’: RSS chief amid US tariffs

Posted on by
Reply

**‘Dependence Mustn’t Turn into Compulsion’: RSS Chief Mohan Bhagwat on US Tariffs**

*By Chanshimla Varah | October 2, 2025*

Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat has responded to the recent tariff policies imposed by the United States on Indian goods. Speaking at the Vijayadashami event in Nagpur, Bhagwat remarked that the US tariff measures are primarily designed to safeguard their own national interests.

He emphasized the reality of global interdependence but cautioned that such reliance should never amount to compulsion. “We must move towards swadeshi and self-reliance; there is no alternative. Our harmony must be our own,” he stated.

**Regional Stability: Concerns Over Neighboring Countries**

Addressing recent unrest in neighboring nations such as Nepal, Sri Lanka, and Bangladesh, Bhagwat warned that such disturbances could invite foreign interference. He stressed that violent uprisings only lead to anarchy and instability.

“Those who seek to create disturbances in Bharat are active both inside and outside our country,” he said. Highlighting the distinction between democratic movements and violent revolts, Bhagwat recalled historical examples: “Democratic movements bring change; violent uprisings don’t. France rose against its king and Napoleon became emperor. So many so-called socialist movements happened, and all these socialist countries are now capitalist.”

**National Harmony: Embracing Diversity and Fair Administration**

Speaking on India’s diverse social fabric, the RSS chief underlined the importance of embracing differences within the bounds of law. He condemned acts that provoke communal tensions and urged for fair and impartial administration.

“The administration must act fairly, but the youth must also stay alert and intervene if needed. The grammar of anarchy needs to be stopped,” he added, condemning the ‘us vs them’ mentality as unacceptable.

**Economic Focus: The Drive Towards ‘Make in India’**

Prime Minister Narendra Modi’s recent calls to promote swadeshi products and self-sufficiency align with Bhagwat’s message. Modi has urged Indians to reduce dependency on foreign-made goods and consciously choose products made in India.

“Often, we don’t even know if the comb in our pocket is made in India or abroad. We should buy products that are made in India, crafted through the hard work of our country’s youth—products that carry the sweat of our sons and daughters,” the Prime Minister said in one of his speeches.

—

The emphasis on self-reliance and indigenous production by both the RSS chief and the Prime Minister underscores a growing national narrative that advocates economic independence and cultural harmony amid global challenges.
https://www.newsbytesapp.com/news/india/dependence-mustn-t-turn-into-compulsion-rss-chief-amid-us-tariffs/story

Reeves poised to back down on higher business rates for UK retailers

Posted on by
Reply

A required part of this site couldn’t load. This issue may be caused by a browser extension, network problems, or your browser settings.

To resolve this, please check your internet connection, disable any ad blockers, and try using a different browser.
https://www.ft.com/content/bb92cadf-2274-4de4-a579-cbeee3c0df92

KPop Demon Hunters and South Korea’s Out of Control Lawfare

Posted on by
Reply

President Donald J. Trump overcame a number of prosecutions that nearly prevented him from taking office. In 2024, a New York case was prosecuted alleging hush-money payments made before the 2016 election. In 2023, a case against then-former President Trump claiming mishandling of sensitive information was dismissed, while similar allegations against President Joe Biden were reportedly ignored.

There have been multiple cases brought with the apparent purpose of preventing Trump from regaining the White House. Now, we are witnessing a similar situation unfold in Brazil, where former President Jair Bolsonaro has been sentenced to 27 years in jail by his successors for election interference. Sound familiar?

The word for this is **lawfare**—the political use of public resources by corrupt governments. It’s a tactic often associated with fascists, yet those who claim to be anti-fascist sometimes embrace its tools.

A similar pattern is playing out in South Korea, where the current president is targeting one of the architects behind the country’s cultural surge. Bang Si-hyuk, founder of South Korean entertainment company HYBE, has built a billion-dollar business with significant global influence. HYBE is best known for creating the successful K-Pop band BTS.

Five years ago, Bang’s company launched an initial public offering (IPO) to maintain long-term growth. The allegation is that this move was done for personal enrichment. However, the charges against Bang are seen by many as part of a broader pattern of politically motivated persecution by South Korean government officials and President Lee.

As we have witnessed in the U.S., politically motivated lawfare is increasingly being used in South Korea to target political opponents. While this is relatively new in the United States, it has long been a tactic used against those who threaten the political or cultural establishment in South Korea.

President Lee has issued sweeping presidential pardons to 2,188 individuals — including many who committed crimes far worse than the allegations faced by Bang Si-hyuk. Yet, Bang, who created one of Korea’s most successful global companies, is subjected to harsher scrutiny, largely because he is one of the wealthiest individuals in the nation.

This legal process needs to play out, but HYBE has promised full transparency. The Korea Times quoted HYBE as saying in a statement, “It may take some time, but we will fully explain that the listing at the time was carried out in compliance with laws and regulations.”

Bang has consistently pursued the long-term growth of his company. He understands that entertainment IPOs are generally less favored compared to private investment due to the volatile, talent-dependent nature of the business. He has paid taxes on his earnings and reinvested $100 million into the company after the IPO—actions hardly consistent with fraud.

Certainly, these are not the actions of someone who deserves to be arrested, publicly humiliated, and subjected to a 14-hour police interrogation.

One major reason developing nations struggle to develop is that corrupt government leaders often target successful businesses to enrich themselves. The lawfare leveled against Bang carries more the air of authoritarianism than a legitimate legal investigation. While it may seem less overt than a shakedown by organized crime, it is no less damaging.

This kind of behavior would be unacceptable in a banana republic. It is unconscionable in the world’s 15th largest economy.

This year, South Korea has faced numerous challenges — including a martial law crisis, an impeachment, a rocky presidential transition, and accusations of human rights abuses. Corruption within the South Korean government is not new; many insiders even claim it acts like an extension of the powerful conglomerate Samsung.

On the global stage, any ongoing lapse in the rule of law signals instability. Such instability can scare away financial partnerships and foreign investment, which are vital for the survival of the tiny Korean peninsula.

South Korea’s entertainment industry remains one of its most important cultural exports and a major source of global influence. It is truly astonishing that in just a few decades, Korea has transformed itself from an agrarian society into a 21st-century economic juggernaut.

Today, audiences worldwide enjoy Korean entertainment like *Parasite*, *Squid Game*, *K-Pop*, and *Demon Hunters* on Korean-made electronics without giving much thought to the incredible cultural connection between Korea and the United States. This connection not only advances the economic interests of both countries but also serves as a strategic check against Chinese aggression.

—

*Note: The final paragraph referencing “Mayor Madman Mamdani” and “Card Breaking Encourages Community, Not Gambling” appears unrelated to the main content and has been omitted for clarity and relevance.*
https://spectator.org/kpop-demon-hunters-and-south-koreas-out-of-control-lawfare/

‘Congress Considered Impossible To Implement GST During Their Time,’ Says Finance Minister Nirmala Sitharaman

Posted on by
Reply

New Delhi: Union Finance Minister Nirmala Sitharaman hit out at the Congress party, stating that while the Congress once considered the Goods and Services Tax (GST) impossible to implement, the Modi government not only rolled it out successfully but is now advancing it with second-phase reforms to ease the burden on common people.

Speaking at a press conference on Wednesday, Sitharaman said, “Is the Congress Party demanding five per cent tax on tobacco and gutkha? Congress Party wants us to give it at 5%. Congress Party considered it impossible to implement GST during their time. We have implemented it and are also undertaking second-generation reforms under the leadership of Modi ji so that people get relief on their day-to-day items.”

Sitharaman highlighted that the ongoing GST reforms are benefiting Micro, Small, and Medium Enterprises (MSMEs) and labour-intensive industries by simplifying compliance. She urged the Congress to clarify its stance on measures that benefit the people.

“MSMEs and labour-intensive units also get relief, due to which there will be easy compliance. Congress should decide whether it wants to oppose or support issues that are in the interest of the people. People will expose you,” she added.

In a significant announcement, Finance Minister Nirmala Sitharaman revealed a sweeping reduction in GST rates on a wide range of essential items, automobiles, agricultural inputs, and electronic appliances.

The 56th GST Council meeting decided to rationalise GST rates into two slabs: 5 per cent and 18 per cent by merging the previous 12 per cent and 28 per cent rates.

On the essential items front, products of daily household use will now cost less. Items such as hair oil, shampoo, toothpaste, toilet soap bars, toothbrushes, and shaving cream, which previously attracted an 18 per cent GST, will now fall under the 5 per cent bracket.

Furthermore, Sitharaman announced a complete removal of GST on individual health and life insurance.

The reforms also bring significant benefits to farmers and the agricultural sector. Tractor tyres and parts, which were earlier taxed at 18 per cent GST, will now be taxed at just 5 per cent. Tractors themselves will see their rate reduced from 12 per cent to 5 per cent.

(Except for the headline, this article has not been edited by FPJ’s editorial team and is auto-generated from an agency feed.)
https://www.freepressjournal.in/india/congress-considered-impossible-to-implement-gst-during-their-time-says-finance-minister-nirmala-sitharaman