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Overseas news
US Treasury Secretary Scott Bessent said the ongoing federal government shutdown is beginning to have a serious negative impact on the US economy.
The shutdown has lasted for nearly 2 weeks, putting many government workers on unpaid leave since most non-essential services are paused.
This happened because US Republican and Democratic lawmakers failed to agree on a budget bill that would fund services from October onward.
In China, export growth accelerated to 8.3% in September due to strong sales in non-US markets and despite ongoing trade tensions with the US.
Changes in a country’s imports and exports often have a significant impact on that nation’s economy, and so such figures are closely watched by investors.
Local developments
The Department of Trade and Industry (DTI) plans to finalize free trade agreement (FTA) negotiations with the European Union (EU) next year and with the United Arab Emirates (UAE) next month.
An FTA is an arrangement between 2 or more countries that covers certain obligations that affect trade in goods and services, protections for investors and intellectual property rights, and others.
Having this agreement can encourage commerce between the countries that make it.
Meanwhile, the Bangko Sentral ng Pilipinas (BSP) reported that its net income dropped by 16.8% to hit P79.2 billion in July 2025. This was primarily due to a 14.1% decline in overall revenue.
While the central bank also reduced its costs, it saw a big drop in miscellaneous earnings, which includes trading gains or losses, fees, penalties and other operating income.
Additionally, Meralco is raising its October electricity rate by P0.2331 per kWh due to the increased cost of power bought from its suppliers. This brings the new overall rate to P13.3182 per kWh.
Higher rates for electricity can raise costs for households and businesses, which may then affect the inflation rate.
There’s no strong indication of where markets are headed in today’s news, though the US government shutdown poses uncertainty. Staying updated and being cautious with your investing decisions might be a good move for now.
