Geopolitics, rate cut delays could spoil IPO rebound in 2024
Geopolitical tensions and interest rate cut delays could play the spoiler’s role in initial public offerings (IPO) staging a major comeback in the local bourse this year......»»
Huge crowds await a total solar eclipse in North America. Clouds may spoil the view
Huge crowds await a total solar eclipse in North America. Clouds may spoil the view.....»»
Huge crowds await a total solar eclipse in North America. Clouds may spoil the view
Huge crowds await a total solar eclipse in North America. Clouds may spoil the view.....»»
GCash preparing for IPO in the last half of 2024
Oscar Reyes Jr., the CEO of GCash operator G-Xchange [link], said that they’re “preparing internally so that we can be ready this year” for an IPO, but clarified that “it is a question of the market, not of GCash, as the market has yet to rebound fully.”.....»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
SM Prime rethinking 2024 SM REIT listing plans
Property developer SM Prime added to concerns that it might delay the IPO of its monster $1 billion REIT when one of its directors, Hans Sy, said that the company’s cashflow is “very strong”, and that while he’s “not ruling [an SM REIT IPO] out this year”, he doesn’t yet see a “purpose” to “immediately go into an IPO”......»»
Citicore Renewable Energy IPO scheduled for May 31
Citicore Renewable Energy Corporation [CREC 3.88 pre-IPO] [link], the parent company of Citicore Energy REIT [CREIT 2.85 unch; 37% avgVol], has scheduled its IPO for May 31 after postponing its listing due to market conditions and negotiating a P5 billion stock sale of CREIT shares to the SM Investments [SM 975.00 ?0.5%; 156% avgVol] group......»»
2.4M Dabawenyos working as of Oct 2023
The October 2023 Preliminary Employment report by the Philippine Statistics Authority-Davao Region (PSA-Davao) reveals that 64 percent of the 3.780 million Dabawenyos aged 15 and above are part of the labor force, indicating that 2.42 million individuals are employed. This represents a 1.8 percentage point increase from the previous year. The report also highlights a 97.1 percent employment rate in the Davao Region as of October 2023, with a 2.9 percent unemployment rate, lower than the national average. Despite this, the region still maintains the highest employment rate in the Philippines. Additionally, the report compares employment rates across different regions, with Soccsksargen, Barmm, Central Luzon, CAR, Caraga, Western Visayas, Cagayan Valley, Mimaropa, and Central Visayas surpassing the national average. The Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) records the highest labor force participation rate among 17 regions, while the Zamboanga Peninsula has the lowest rate. The data is collected through the Labor Force Survey (LFS) conducted quarterly and monthly by the PSA central office and its regional statistical services offices. The Davao Region, with nearly 6 million inhabitants, remains the 7th most populous region in the country......»»
Maybe no Fed rate cuts in FY24?
A recent CNBC article captured the growing concern that the US Federal Reserve’s first rate cut – the infamous “pivot” – might not happen until “at least September”, and discusses a few analysts (including those from Bank of America) who have said that there is “real risk” that the first cut might not even come until March 2025......»»
Slower US Inflation Spurs Fed Rate-Cut Optimism
Title: Inflation Slows in the US, Raising Expectations of Interest Rate Cut Subtitle: International Economic Developments to Impact Global Markets Date: [Current Date] Byline: [Your.....»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
Philippines inflation rate slows to 2.8 pct in January
MANILA, Feb. 6 (Xinhua) -- Year-on-year inflation in the Philippines further eased to 2.8 percent in January from 3.9 percent in December 2023, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa told a press conference that the January inflation rate is the lowest since the 2.3 percent inflation rate was recorded in October 2020. In January 2023, inflation rate was 8.7 percent.....»»
Delays in road works causing traffic congestion in Davao
DAVAO CITY (MindaNews / 10 March) – Vehicle owners in the city had been airing complaints that delays in road works being done by the Department of Public Works and Highways – Davao Region (DPWH-Davao) have been causing traffic congestion. Manny de Mesa, a logistics truck driver, told MindaNews it is “very time-consuming” to enter […].....»»
Crash causing delays, SH1, Hautapu Bridge, Taihape
Motorists are advised to expect delays following a crash on SH 1, Hautapu Bridge, Taihape.The crash was reported to Police at 11.00am.No injuries have been reported in relation to the crash.One lane is blocked and we ask motorists to delay travel or take an alternative route while the scene is cleared.ENDSIssued by the Police Media Centre Source: NZ Po.....»»
Delays expected after crash on State Highway 1 near Ruakaka
The single vehicle crash, reported to Police at around 4.28pm, has closed the SH1 roundabout to Port Marsden Highway and Sandford Road.Thankfully, no one has been seriously injured in the crash.Diversions are being put in place and motorists are advised to expect delays, and to avoid the area if possible.ENDS Source: New Zealand Police.....»»
Faster inflation could delay interest rate cuts – BDO
Faster inflation could delay monetary policy rate cuts from the Bangko Sentral ng Pilipinas , according to an official from BDO Trusts and Investments, the investment arm of BDO Unibank Inc......»»
CREC likely to move IPO to Q2
The planned initial public offering of Citicore Renewable Energy Corp., potentially the first IPO of 2024, may be moved to the second quarter of the year in line with the expected lowering of interest rates by then......»»
Market still not conducive for IPO
PNB Holdings Corp., a wholly-owned subsidiary of the Philippine National Bank, is ready to conduct an initial public offering, according to Carlu Fernandez, Philippine Airlines’ general counsel, but market conditions are still not conducive to an IPO at this time......»»
PSE EASy platform now accepts online banking for payment of IPO subscriptions
The PSE announced that it added some new features to the PSE EASy platform that allow Local Small Investors (their words, not mine) to buy IPO and follow-on offering shares using an online banking payment system......»»
Alternergy reallocates IPO proceeds to Tanay and Alabat projects
Alternergy, the renewable energy generation company founded by Vince Pérez (former DoE Secretary), announced that its board of directors reallocated P65 million of the IPO proceeds that were originally scheduled for the Solana Solar Project, Ibulao Mini Hydro Project, Cavite Offshore Wind Project, Tablas Strait Offshore Wind Project, and the operationalization of Green Energy Supply Solutions Inc......»»
OceanaGold PH IPO approved by SEC
OceanaGold received SEC approval for its proposed P7.88 billion IPO......»»