KKR Invests $400 Million to Expand Philippine Telecom Infrastructure

  US private equity giant KKR & Co. announced a significant investment of $400 million in the Philippines' telecom tower sector. This news follows a two-day trade mission led by the US Department of Commerce, which secured over $1 billion in total commitments from American firms.

KKR plans to utilize these funds to develop and acquire approximately 2,000 telecom towers. This expansion aims to enhance digital connectivity across the Philippines, a nation with over 113 million citizens.

The investment strengthens KKR's existing partnership with Pinnacle Towers, the Philippines' leading independent tower operator. KKR previously acquired a stake in Pinnacle Towers in 2020.

Facebook Outage Resolved After Affecting Millions

 Facebook experienced a service outage yesterday, impacting millions of users worldwide. The issue began in the morning and lasted for approximately an hour, preventing users from accessing their accounts or using the platform.

According to reports from Downdetector, users encountered problems logging in, refreshing feeds, and viewing content. While the exact cause of the outage remains undisclosed, Meta, Facebook's parent company, acknowledged the issue and apologized for the inconvenience. They confirmed the issue was resolved and users should now have full access to the platform.

Jeff Bezos Regains World's Richest Person Title

Amazon founder Jeff Bezos regains world's richest person title (Bloomberg). His net worth currently stands at $200 billion, surpassing Tesla CEO Elon Musk's $198 billion.

This shift reflects a rise in Amazon's share price and a decline in Tesla's. Bezos previously held the top spot until May 2023, when Musk briefly overtook him. This marks Bezos' third time holding the title of the world's richest person.