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Cebu topnotcher shares secret to success: Strong support system of family, friends
CEBU CITY, Philippines — A good support system of family and friends is Elijah Cabase’s secret to his placing 5th in the March 2024 Medical Technologists Licensure Examinations (MTLE). This 23-year-old University of Cebu-Banilad alumnus said that he was not even expecting to pass because he described himself as a confessed procrastinator — or one.....»»
Trending tickers: Trump Media, Tesla, Bitcoin and DS Smith
Former US president Donald Trump’s media firm, Trump Media & Technology Group, had a successful stock market debut in New York, with shares soaring past.....»»
Boulevard Holdings sells 1.5-B shares to ownership group
Boulevard Holdings advised that its stockholders approved a measure to increase BHI’s authorized capital stock from 17 billion shares to 18.5 billion shares, and to sell the 1.5 billion shares to a company called Puerto Azul Landn Inc., which is also owned and controlled by the Panlilio family......»»
Singaporean embassy in India extends Holi wishes, shares images of celebrations in Barsana
New Delhi [India], March 24 (ANI): As Indians across the world geared up to ring in the festival of colours, the Singaporean embassy in the national capital extended its greetings for Holi, wishing that the festival would bring peace and joy to all. It also shared mesmerising pictures of Holi celebrations in one of India's oldest and most popular pilgrimage sites, Barsana, in Uttar Pradesh. A post on the official X handle.....»»
Singaporean embassy in India extends Holi wishes, shares images of celebrations in Barsana
New Delhi [India], March 24 (ANI): As Indians across the world geared up to ring in the festival of colours, the Singaporean embassy in the national capital extended its greetings for Holi, wishing that the festival would bring peace and joy to all. It also shared mesmerising pictures of Holi celebrations in one of India's oldest and most popular pilgrimage sites, Barsana, in Uttar Pradesh. A post on the official X handle.....»»
Social Media Firms Shares Soar in Stock Market Debut
India’s GDP Growth Rate Drops to 4.7% in Latest Quarter According to provisional data released by the Central Statistical Office, India’s GDP growth rate has.....»»
How to make money from your talents: Sharon Cuneta shares ideas
Want to pursue your passion but don’t know if you can make money from it?.....»»
BPI sells shares in GoTyme Bank
The Bank of the Philippine Islands sold its 752 million common shares of GoTyme Bank Corp. to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd, the bank said yesterday......»»
Shares gain anew on rate cut hopes
The stock market advanced for a second consecutive session yesterday, buoyed by indications that the vs Federal Reserve will make interest rate cuts later this year......»»
PSE approves listing of GSIS-owned Alternergy preferred shares
Alternergy disclosed that the PSE has approved its application to list the 100 million preferred shares that it sold to the Government Service Insurance System at a price of P14.50/share......»»
Stocks rebound as Wall Street bounces back
Local stocks bounced back yesterday to close the week on a positive note as the local bourse mirrored gains in the US market......»»
SEC moves to liberalize stockbrokers’ commissions
The Securities and Exchange Commission (SEC) is moving to liberalize retail stock market trading to prop up volume in the local bourse......»»
PSE hopeful of better economic conditions this year
The operator of the local bourse is keeping its fingers crossed that better economic conditions would entice investors to return to the stock market this year......»»
PSE eyes reduction of market friction costs
The Philippine Stock Exchange plans to reduce friction costs as part of efforts to revive investor interest in the local bourse amid the challenging market conditions......»»
Bourse, peso fall amid elevated inflation
The stock market ended yesterday in the negative territory after the release of the September 6.1 percent headline inflation data, while the peso moved sideways on Thursday. The Philippine Stock Exchange index lost 119.6 points to close at 6,178.60, while the broader All Shares also dropped 49.81 points to 3,348.75. “Philippine shares fell towards closing as the latest inflation print came below expectations,” Regina Capital Development Corp. head of sales Luis Limlingan said. Red hot prices Headline inflation accelerated to 6.1 percent last month from 5.3 percent in August. All sectors dropped, led by Mining and Oil, which shed 184.98 points. Volume reached 676.7 million shares with a total value of P5.4 billion. Decliners led advancers at 119 to 67, while 45 shares were unchanged. The peso, meanwhile, closed at 56.67 to the dollar, slightly higher than the 56.71 finish on Wednesday. It opened the day at 56.6 from the previous day’s kick-off at 56.82. The currency pair traded between 56.59 and 56.69, bringing the day’s average to 56.63. The total volume of trade amounted to $1.23 billion, lower than the previous day’s $1.52 billion. The post Bourse, peso fall amid elevated inflation appeared first on Daily Tribune......»»
Bourse unwraps shorting rules
Bourse operator Philippine Stock Exchange Inc., or PSE, issues its approval yesterday for the immediate implementation of the Guidelines for Short Selling Transactions. PSE said critical components of securities borrowing and lending, or SBL provisions were also approved. Short selling can only function with an SBL program in place. PSE announces effectivity of short selling guidelines, other relevant SBL developments. Weak market buffer PSE announced SEC’s approval of offshore collateral for SBL in May 2023 while the Bureau of Internal Revenue accepted the filing and registration of the Global Master Securities Lending Agreement, or GMSLA, in September 2023. Short selling happens when a trader borrows shares and sells them in the hope that the price will fall after, so they can buy them back cheaper. The process can help traders profit from downturns in stocks and protect themselves from losses. “We are grateful to the SEC and BIR for their approvals on important regulatory aspects of SBL and short selling. This development brings us a step closer to the full adoption and implementation of these much-awaited programs,” PSE president and CEO Ramon Monzon said. The PSE also updated the eligible securities in its short selling guidelines to include members of the PSE midcap and PSE dividend yield indices. Initially, only securities comprising the PSE index and exchange traded funds, or ETFs, were considered eligible securities for short selling. The post Bourse unwraps shorting rules appeared first on Daily Tribune......»»
Monumental mistake
There has been a rash of vandalism of historical landmarks in Europe by unruly tourists. On 23 August, the 460-year-old Vasari Corridor, a beautiful riverside passageway connected to the famous Uffizi Galleries in Florence, Italy, was sprayed with soccer-related graffiti. Local police used video surveillance footage to identify the vandals, two German students aged 20 and 21, who were staying with other students at a nearby Airbnb. The video footage showed the two spraying black paint on the arches of the elevated passageway running along the Arno River at 5:20 a.m. Italy’s Culture Ministry said the vandalism would require 10,000 euros worth of repairs, CNN reported. Police tracked the location of the two vandals and a search of their room yielded the evidence: two cans of black spray paint and paint-stained clothing. Uffizi Director Eike Schmidt called for the jailing of vandals defacing cultural heritage sites to deter similar violations in the future. In Brussels, Belgium, an Irish tourist visiting the local stock exchange known as The Bourse fancied the statues at the entrance of the building a day after it reopened on 9 September following three years of renovations that cost 90 million euros. A police officer caught on his camera the drunk Irishman climbing on the statue of a naked torch bearer beside a statue of a lion to have his picture taken. When the tourist was dismounting, he held onto the hand with the torch, breaking it with his weight. Police later arrested the Irishman in a nearby fast food restaurant, according to reports. The tourist was charged the cost of repairing the statue, a staggering 17,600 euros. The post Monumental mistake appeared first on Daily Tribune......»»
Big fuss over .02%
The Philippine Stock Exchange index is considered the gauge of the activity in the equities market and, by extension, of the economy since the direction of the line graph indicates the country’s financial health. The index tracks the price movements of a basket of select companies listed on the bourse, representing various sectors of the economy. Investors and market participants use the PSE index as a reference to evaluate the performance of their investment portfolios and make informed investment decisions. The daily movement of the index influences investor confidence and sentiment. Increased investor confidence can stimulate trading activity, attract foreign investments, and encourage local companies to raise capital through initial public offerings or secondary floats. A strong and stable PSE Index can enhance the stock market’s perception as an attractive investment destination. This could attract foreign capital inflows, increase liquidity, and contribute to developing the local capital market. Thus, the impending exit of Metro Pacific Investments Corp., or MPIC, and Aboitiz Power Corp., or APC, from the Philippine Stock Exchange index seems a bit off as both companies are major players in the country’s growth story. Replacing APC and MPIC in the exclusive blue chips club are tycoon Enrique Razon Jr.’s Bloomberry Resorts and the Po family’s Century Pacific Food. The revamp takes effect on Tuesday, 26 September. MPIC is stepping out of the index after its public float dropped to 2.78 percent as part of its program to delist by October. APC’s exclusion from the benchmark was decided on, however, after it missed by a few decimal points of the 20 percent float rule for stocks to be retained in the PSEi. The company purchased 11.4 million shares as part of its buyback program that brought the public float level to below 20 percent, the level required to stay in the PSEi. Based on APC’s report to the market, stocks owned by the public are 19.98 percent of the total listed shares of 7.35 billion. Listed companies are required to have a 10-percent public float, but the elite index members are given a more arduous 20-percent public ownership condition. APC is off by .02 percent. APC’s buyback activities increased non-public scrips to 5.886 billion, bringing the total number of publicly owned shares to 1.47 billion. “Aboitiz Power’s current public ownership levels far exceed the 10-percent minimum public ownership level required for it to remain listed in the Philippine Stock Exchange,” an APC statement to the PSE said. “Even with this stock buyback program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” APC added. The PSEi must accurately reflect the stock market’s overall performance and, in the bigger picture, the economy’s strength. Its composition should go beyond the mere technical criteria to allow a more representative indicator of the daily activity of the market. APC accounts for one out of every five megawatts, or MW, of installed capacity in the country and has some 1,000 MW of renewable energy capacity in the pipeline. In the first half of the year, the company reported a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. In the second quarter, the company’s net income reached P10.3 billion, 46 percent higher than the P7 billion profit a year ago. The decision to remove a key bourse participant, which also has among the most active shares, is like benching your star player because he forgot to bring a matching pair of socks. The post Big fuss over .02% appeared first on Daily Tribune......»»
MVP eyes MPTC float by next year
After the voluntary delisting of his infrastructure investment firm Metro Pacific Investments Corp. or MPIC from the local bourse, businessman Manuel V. Pangilinan is now planning to offer the shares of his tollways venture Metro Pacific Tollways Corp. or MPTC to the public by next year. “After the delisting, we will list our tollways... next year. The Maynilad has got to list by 2026. We will list our major subsidiaries,” Pangilinan said in an interview with reporters on the sidelines of the Mining Philippines 2023 International Conference and Exhibition on Wednesday. MPTC is the operator of the North Luzon Expressway, Subic-Clark-Tarlac Expressway, Cavite-Laguna Expressway, Manila-Cavite Expressway, NLEX Connector, and Cebu-Cordova Link Expressway. On the other hand, Maynilad, MPIC’s joint venture with DMCI Holdings, and Marubeni Corp., serves the west zone of the Greater Metro Manila area, covering 17 cities and municipalities. Tender offer closed Relatedly, in a separate disclosure to the stock exchange on Wednesday, MPIC confirmed that the tender offer for its shares is now closed. The company report stated that the total of tendered shares, excluded shares, and other non-public shares is equivalent to 97.22 percent of MPIC’s total issued and outstanding listed shares and has exceeded the threshold required to complete the voluntary delisting. Once tendered shares are accepted and crossed, MPIC’s public float will fall to 2.78 percent. Its total tendered shares, excluded shares, and other non-public shares, on the other hand, will be above the voluntary delisting threshold of at least 95 percent. Thus, bidders can now expect MPIC’s delisting around October. The Cross Date is scheduled for 26 September, while the Settlement Date is scheduled for 28 September. Commenting on these MPIC developments, Pangilinan said: “It’s amazing that the acceptances have been more than 99 percent. What are the implicit messages of that, the times have moved on. My theory is that conglomerates are passe.” Pangilinan noted that companies are now focusing on their ventures that are easier and simpler to analyze with only one product. “Filipinos have a natural aversion to something big, that is why our stock exchange is too small. And because it’s too small it impinges on the issue of liquidity. Investors, even foreign investors, want to go in and be able to get out whenever they want to,” he explained. MPIC currently owns 47.5 percent of Manila Meralco, 99.9 percent of Metro Pacific Tollways Corp., 52.8 percent of Maynilad Water Services Inc., 20 percent of Metro Pacific Health Corp., and other assets. It is the Philippine arm of Hong Kong-based investment holding firm First Pacific Company Ltd. It has interests in tollways, water distribution and sewerage services, railways, hospitals, power generation, and distribution. The post MVP eyes MPTC float by next year appeared first on Daily Tribune......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»