New York, United States — Budget airline Spirit, which filed for bankruptcy in November after months of difficulties, announced Thursday it had completed a restructuring deal with creditors to trim its debt by nearly $800 million. “With significantly less debt and greater financial flexibility, Spirit emerges (from Chapter 11 bankruptcy protection) as a stronger company

MANILA, Philippines — Starting tomorrow, March 15, the new maximum deposit insurance coverage (MDIC) of P1 million per depositor per bank will take effect. The new MDIC — which was doubled from P500,000 previously — is projected to protect over 147 million deposit accounts and P5.3 trillion funds in 2025, the Philippine Deposit Insurance Corp.

MANILA, Philippines – Strong sales in the Philippines and its newest coffee acquisition lifted the earnings of Jollibee Foods Corp. in 2024  by 17.7 percent to P10.32 billion despite a weak China market. The homegrown fast-food giant said in a stock exchange filing on Friday that its revenues also grew by 10.6 percent to P269.94

MANILA, Philippines – The Energy Regulatory Commission has directed Manila Electric Co., the country’s largest private electric utility, to “immediately” refund some P20 billion to its consumers. This is equivalent to an average refund of P0.1189 per kilowatt hour (kWh) across customer classes, according to a statement released by the ERC on Friday. READ: ERC

Sydney, Australia — Australia will spend Aus$750 million (US$470 million) to help metals industries develop low-emissions technology and boost exports, the government said on Friday. The scheme aims to bolster the country’s alumina, aluminum, iron and steel sectors, which account for more than Aus$150 billion a year in overseas shipments, officials said in a statement.