Business

KOROR (Island Times/Pacnews) — A plan to pass a Digital Residency Identification law  did not succeed as the bill failed to get a majority of the votes in the Palau Senate.  Five senators were in favor of the bill, six were opposed and one abstained which was counted as a “yes” vote under Senate ru…

NEW YORK (Reuters) — U.S. bank executives on Tuesday raised concerns about the impact of a sustained period of higher inflation, adding to pressure on the Federal Reserve to accelerate plans to slow down the pace of its asset purchases. Wells Fargo Chief Executive Charlie Scharf said at a conferenc…

HONG KONG (Reuters) — Macau’s gaming regulator has ordered junket operators in the world’s largest gambling hub to stop offering credit to customers, according to brokerage firm Bernstein. Macau’s Gaming Inspection and Coordination Bureau has ordered the operators, who bring big-s…

WASHINGTON (Reuters) — U.S. unit labor costs surged more than initially thought in the third quarter, suggesting inflation could remain high for a while. The Labor Department said on Tuesday that unit labor costs, the price of labor per single unit of output, accelerated at a 9.6% annualized rate l…

HONG KONG (Reuters) — Bitcoin tumbled almost 5% on Monday as the start of the week offered little respite to the world’s largest cryptocurrency after a bruising weekend where at one point it lost over a fifth of its value. The rout sent bitcoin’s price and the amount invested in bitcoin…

HAGÅTÑA (The Guam Daily Post) — Black Micro Corp. of Tamuning, has been awarded a $161.82 million firm-fixed-price contract for site development and for the construction of an aircraft parking apron and taxiway at the Tinian International Airport in Tinian, Commonwealth of the Northern Mariana Isla…

HAGÅTÑA (Press Release) —Bank of Guam continues to deliver on their year-long transformative  campaign,  The Start of Something New,  announcing the introduction  of Branch Wi-Fi and a fleet of newly upgraded ATMs (Automated Teller Machines). Branch Wi-Fi As part of the Bank’s digital transfo…

NEW YORK (Reuters) — Some investors are preparing for a hawkish turn from the Federal Reserve by buying the cyclical, economically sensitive names they gravitated to earlier this year, as expectations grow that the central bank is zeroing in on fighting inflation. The gap between growth stocks and …

OTTAWA (Reuters) — Canada’s tight labor market is forcing many companies to offer regular Covid-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Canadian Prime Minister Justin Trudeau’s governm…

SAN SALVADOR (Reuters) — El Salvador President Nayib Bukele said the Central American country had acquired an additional 150 bitcoins after the digital currency’s value slumped again, enlarging his bet on the cryptocurrency despite criticism. Bitcoin, the world’s biggest and best-known …