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October 15 (Yonhap) -- A poll released on the 15th showed that South Korean President Lee Jae-myungs approval rating was 44%. This is a one-percentage-point increase from the 43% recorded in the previous two polls. 43% is Lee Jae-myungs lowest approval rating since taking office. The percentage of those who rated Lee Jae-myungs performance as "poor" was 49%, a one-percentage-point decrease from the previous poll. 7% answered "dont know" or did not answer. By age group, except for those in their 40s and 50s, negative evaluations of Lee Jae-myungs performance were predominant in all other age groups. Regarding party support, the Democratic Party and the People Power Party received 33% and 28% support respectively, with the former decreasing by 2 percentage points from the previous poll and the latter increasing by 3 percentage points.October 15th - During this years Tmall "Double 11" shopping festival, brand discounts combined with platform coupons can bring the total discount to 72%. Tonight at 8 PM, pre-sales will begin for categories such as cosmetics and apparel; home appliances, mobile phones, and computers can be discounted as low as 65% with the addition of national subsidies.On October 15th, the Philippine peso fell below the key psychological level of 63 against the US dollar for the first time, hitting a record low of 63.150 per dollar, exacerbating pressure on the central bank to defend the currency. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., stated that further interest rate hikes are now more likely to stabilize the currency. Surveys indicate that the Philippine central bank expects to raise interest rates by 25 basis points next week. Meanwhile, Asian currencies faced renewed selling pressure on Thursday, with the South Korean won and New Taiwan dollar leading the decline.The Indonesian rupiah fell to 17,955 against the US dollar, its lowest level since October.ECB Governing Council member Pereira: Economic growth has exceeded expectations, and it would not be surprising if this momentum continues in the coming months.

Italy Investigates Other Options For TIM As Its Bid For A Network Wanes

Aria Thomas

Nov 29, 2022 11:46

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Telecom Italia (BIT:TLIT), a troubled former phone monopoly, would likely need extra options from the future Italian government, as a bid for its landline network by state lender CDP appears increasingly unlikely.


The multibillion-euro offer, which was championed by Mario Draghi's former administration, is part of a bigger push to combine TIM's network assets with those of smaller competitor Open Fiber to establish a unified broadband champion under the supervision of CDP.


Also crucial to TIM CEO Pietro Labriola's plan to break apart the struggling phone company in order to lower its 26 billion euro debt is an offer due on November 30.


Monday, a government source told Reuters that Italian Prime Minister Giorgia Meloni favors postponing the CDP's request.


Three sources previously stated that CDP was unlikely to reach the Wednesday deadline, while a fourth source reported that CDP had not yet scheduled a board meeting to consider an offer.


The offices of Meloni and the Treasury were slow to respond to requests for comment.


Friday, contrary to custom, Meloni transferred the government's broadband policy to cabinet undersecretary Alessio Butti. Butti has attacked the CDP's intentions for TIM in public.


Instead, Butti has encouraged CDP, which is owned by the Treasury, to purchase TIM in its entirety and then sell its service operations, including its Brazil-listed firm.


In response to Butti's suggestions, Economy Minister Giancarlo Giorgetti indicated last week that the government had "many opportunities" to assume control of TIM's network.


Analysts believe that establishing a new plan to integrate TIM and Open Fiber would take a minimum of one year, leaving TIM's future unknown at a time when rising interest rates increase the group's cash flow loss due to interest payments.


Existing cash supports TIM's debt commitments through mid-2024, and debt refinancing seems more challenging than in the past; thus, the window of opportunity to find a solution is closing. Intesa Sanpaolo (OTC:ISNPY) revealed the following in a research note.

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