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Newscast: Behind the headlines of GDC, a cautious sense of hope
The gaming industry faced its fair share of challenges in the past 18 months, and these were the hot topics of discussion at the recently.....»»
Stocks retreat as investors stay on sidelines
Share prices retreated yesterday as investors opted to stay on the sidelines with trading shortened to three sessions this Holy Week......»»
Thin volume seen on short trading week
Local stocks are expected to move sideways this week with only three trading days due to the Holy Week break......»»
Cryptocurrency Market Turns Red as Bitcoin, Ethereum, Solana Prices Dip Before Halving
The cryptocurrency market kicked off Friday on a bearish note, as major digital assets Bitcoin, Ethereum, and Solana experienced significant declines in morning trading. Bitcoin,.....»»
Bago farmers get P1-M capital trading support
Bago farmers get P1-M capital trading support.....»»
Warring sides still cautious after Biden says Gaza truce is close
Hamas is now weighing a proposal, agreed by Israel at talks with mediators in Paris last week, for a ceasefire that would suspend fighting for 40 days, the first extended truce of the five-month-old war.....»»
Drastic rise in dengue cases noted in General Santos
GENERAL SANTOS CITY (MindaNews / 21 February)—Health authorities in this city reminded residents to be cautious over a noted increasing number of dengue cases, mostly involving children. But there were no dengue-related deaths reported this year so far, Dioscorro Nuñez III, health education and promotion officer at the City Health Office, said on Wednesday. He […].....»»
USB hack attacks: Philippines ranks 3rd in SEA
Global cybersecurity company Kaspersky has called on Filipinos to be cautious in plugging in memory storage universal serial bus devices to their computers unless these have been scanned, following the release of data that 36.80 percent of users in the Philippines were attacked by local threats from such devices last year......»»
Fed Chief Powells Remarks on March Rate Cut Unlikely to Cause Stock Tumble: The Daily Guardians Guide to Navigating the Market
Title: Market Rebounds After Fed Chief’s Comments, Tech Stocks Experience Declines Subtitle: Investors Advised to Be Cautious Amidst Volatility Date: [Insert Date] Author: [Your Name].....»»
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 […].....»»
134 warrants served for cyber libel in 2023
The police Anti-Cybercrime Group urged the public yesterday to be cautious when using their social media accounts after it served 134 warrants of arrest for cyber libel in 2023......»»
Travel agencies group warns about cheap, illegal operators
The Davao Travel Agencies Association (DTAA) has issued a warning about unregistered and illegal travel and tour operators in their area. These operators have been found to be offering travel and tour services without proper licensing, leading to issues such as lack of refunds, scheduling problems, and other travel arrangement discrepancies. Pia Partoza Montano, a travel agency owner and Vice-President for the Travel and Tours Sector of DTAA, emphasized the prevalence of these unauthorized operators, particularly in inbound tourism, and the challenges in monitoring and regulating them due to their large numbers. Montano also highlighted the potential risks associated with using these unregistered agencies, as they may offer cheaper rates but could lead to problems in case of incidents. To address this issue, the Department of Tourism-Davao (DOT-Davao) has introduced a QR code system to help the public verify the legitimacy of travel agencies by accessing data on authorized and registered operators. The DOT-Davao encourages travelers to transact with accredited enterprises to ensure the quality and reliability of their travel arrangements. Currently, there are at least 109 registered travel and tour agencies in Davao City under DOT-Davao's accreditation. The DOT-Davao also provides information on the requirements for registration and renewal for travel agencies on their official website. This warning serves as a reminder for the public to be cautious and discerning when engaging with travel and tour operators to avoid falling victim to unauthorized and illegitimate services......»»
CHR: Marcos gov’t ‘open’ to human rights concerns
Although the human rights situation in the country is still far from ideal, the Commission on Human Rights (CHR) expresses cautious optimism regarding the Marcos administration’s willingness to listen to and actively engage with the agency. During a recent year-ender session with the media, CHR Chair Richard Palpal-latoc said he and the other commissioners have.....»»
BDO sees ‘decent 2023’
Sy-led BDO Unibank Inc. is cautious about 2024, but projects a decent 2023 as the Philippines continues to emerge from the impact of the COVID pandemic......»»
D& L cautious on 2024 growth prospects
D&L Industries Inc., the country’s leading specialty food ingredients and oleochemicals producer, is cautiously optimistic on its growth prospects for 2024......»»
‘Stay wary’ despite Comelec elimination of Smartmatic
“Remain cautious,” advocates of clean-elections alert Filipinos despite Comelec’s disqualification of their hated Smartmatic from any more Philippine balloting......»»
Consumers urged to be cautious of Black Friday fraud schemes
Consumers urged to be cautious of Black Friday fraud schemes.....»»
Meta quarterly profit jumps but it sees volatility in ad market
Meta on Wednesday reported that its quarterly profit more than doubled from last year's figure as it looks ahead at a volatile ad market and lawsuits accusing it of profiting from "children's pain." "Meta earnings looked pretty good," said independent tech analyst Rob Enderle. "They have clearly cut back on the bleeding surrounding their metaverse efforts and the company appears to be on a more even keel right now." The tech giant said it made a profit of $11.6 billion as ad revenue climbed 23 percent to $34 billion when compared to the same period a year earlier. "We had a good quarter for our community and business," said Meta chief executive Mark Zuckerberg. The number of people using Facebook monthly rose slightly to 3.05 billion in a year-over-year comparison while monthly active users of Meta's "family" of apps was 3.96 billion a 7 percent increase from the same quarter in 2022, the company reported. Meta said it had trimmed costs, with layoffs and other belt-tightening measures started last year providing "greater efficiency." Meta had suffered a rough 2022 amid a souring economic climate and Apple's data privacy changes, which allowed users to block ad targeting, the pillar of Meta's business. Meta's vow of austerity on spending brought an unprecedented round of cost-cutting that saw the company lay off tens of thousands of workers since last November. Meta shares, which closed the formal trading day down, fell more than three percent further in after-hours trades to $289.50. Chief financial officer Susan Li said during an earnings call that Meta is seeing "volatility" in an ad market that started to soften when the conflict between Israel and Hamas began. "It's hard for us to attribute demand softness directly to any specific geopolitical event," Li said. "We have seen broader demand softness follow other regional conflicts in the past, such as in the Ukraine war, so this is something that we're continuing to monitor." Lawsuit peril Analyst Enderle maintained that Meta is at risk from lawsuits poised to damage its image and its wallet. Dozens of US states this week accused Meta of profiting "from children's pain," damaging their mental health and misleading people about the safety of its platforms. "In seeking to maximize its financial gains, Meta has repeatedly misled the public about the substantial dangers of its Social Media Platforms," argued a joint lawsuit filed in federal court in California. The states accused Meta of exploiting young users by creating a business model designed to maximize time they spend on the platform despite harm to their health. In total more than 40 states are suing Meta, though some opted to file in local courts rather than join in the federal case. Meta said the states were singling it out unfairly instead of working with social media companies to develop universal standards for the whole industry. "This landmark lawsuit could herald a seismic shift in how social media platforms approach product features and user engagement," said Insider Intelligence principal analyst Jeremy Goldman. "That said, even as tech stocks face uncertainty, Meta's consistent performance cements its leadership in the digital realm." Meanwhile, the European Union is seeking details on measures Meta has taken to stop the spread of "illegal content and disinformation" in light of the conflict between Israel and Hamas. The AI race The tech giant is putting artificial intelligence into digital assistants and smart glasses as it seeks to gain lost ground in the AI race. "I'm proud of the work our teams have done to advance AI and mixed reality with the launch of Quest 3, Ray-Ban Meta smart glasses, and our AI studio," Zuckerberg said in the earnings release. The second-generation Meta Ray-Ban smart glasses made in a partnership with EssilorLuxottica have a starting price of $299. "Smart glasses are the ideal form factor for you to let AI assistants see what you're seeing and hear what you're hearing," Zuckerberg said. Meta has taken a more cautious approach than its rivals Microsoft, OpenAI, and Google to push out AI products, prioritizing small steps and making its in-house models available to developers and researchers. "The majority of the world's population will have their first experience of generative artificial intelligence with us," Meta chief technology officer Andrew "Boz" Bosworth told AFP in a recent interview. Meta recently unveiled AI-infused chatbots with personalities, along with tools for creating images or written content using spoken prompts. The post Meta quarterly profit jumps but it sees volatility in ad market appeared first on Daily Tribune......»»
EEI ‘hold’ tipped with robust infra
Listed infrastructure multinational EEI Corpo. posted a net loss of -P701.12 million in the second quarter, primarily due to losses from its equity in associates and joint ventures, primarily its unit Al Rushaid Construction Co. Ltd., or ARCC. Consolidated revenues rose by 25 percent from a year ago to P7.85 billion, but its gross profit shrank by 21 percent year-on-year to P515 million due to delays in materials, effects of bad weather, and license approvals. Brokerage house and research firm Regina Capital Development Corp., or RCDC, said the growth in EEI’s topline was mainly driven by improving construction contracts. “The company’s unworked portion of existing contracts is at P47.4 billion but expects a robust inflow of projects. The Build, Better, More Infrastructure Program is expected to boost construction services demand,” RCDC said. It added that the construction sector experienced growth in gross fixed capital formation in 2021 and 2022, an indication of potential recovery despite the economic challenges. However, the sector’s growth in the second quarter was below average, which RCDC said revealed economic risks. The price index, which has been on a downtrend since October 2022, could be a potential growth source. BBM’s main growth driver The BBM program, which will continue to stimulate domestic construction demand, will also benefit the sector. “Given the challenges posed by the slowed growth in gross capital formation for construction, as well as the impact of losses from equity in associates and joint ventures on EEI’s earnings, we are reducing our target to P5.30 per share, down from P7.50. This adjustment reflects the cautious outlook for the construction sector and the need for EEI to address its associated losses while also acknowledging potential future opportunities such as the government’s BBM infrastructure program. Hence, we are placing a “hold” recommendation on EEI. RCDC cited the updates on the company that merited its recommendation. EEI has continued with its reorganization. In a report to the stock market back in September 2023, its board approved the divestment of the company’s 60 percent interest in its subsidiary, BiotechJP Corp., a company engaged in the manufacture of food and therapeutic food products, as it focuses on its core business which is construction. Real estate brand Filigree tapped EEI Corp. for the general construction works of its newest project, Two Botanika, in Alabang, Muntinlupa. EEI’s unit, EEI Power Corp. is set to develop an electronic vehicle charging system through a new corporation after partnering with a cloud solution and service provider. EEI Power said it would have a 40 percent stake in the new corporation that it would establish together with SysNet Integrators Inc. The post EEI ‘hold’ tipped with robust infra appeared first on Daily Tribune......»»
Global stocks weak as ME fears persist
Global stock markets slid Friday on worries that an expected ground invasion of Gaza by Israel would spark a wider conflict in the Middle East. Wall Street stocks declined Friday, as investors looked to lower their risk going into the weekend. The Dow Jones Industrial Average lost 0.9 percent, while the S&P and Nasdaq indexes fell over one percent. The yield on the 10-year US Treasury, which briefly rose this week to levels not seen since 2007 amid concerns the Fed is entering a long period of high-interest rates, slipped slightly. Regina Capital Development Corp. managing director Luis Limlingan added the Federal Reserve has been raising its benchmark lending rate to cool demand and bring down stubborn inflation, with some success. Nevertheless, rates remain stuck above their long-term target of two percent. Local shares ended the week in the red as investors turned more cautious following Fitch Group’s statement that inflation will likely stay elevated for an extended period, Limlingan added. Additionally, the recent statement by Fed Chairperson Jerome Powell “weighed on the local and global markets,” the RCDC executive said. He quoted Powell as saying inflation remains too high and lower economic growth will likely be needed to bring it down. Powell also said he doesn’t think rates are too high now. At the same time, markets are warily eyeing ongoing conflict in the Middle East, for signs it could spread to other countries. “Going into the weekend there is a downward trend as short-term investors try to square positions,” Jack Ablin, Cresset Capital’s chief investment officer, said. “There is an unwillingness from certain investors (to) hold risk positions over the weekend,” he added. Major stock markets in Europe closed down more than one percent, while those in Asia also saw declines. Double geopolitical whammy The US Federal Reserve warned that the recent attack on Israel and the ongoing Ukraine conflict could cause harm to the world economy and boost global inflation. Hamas carried out a deadly attack on Israel from the Gaza Strip on 7 October and killed at least 1,400 people, mostly civilians who were shot, mutilated, or burned to death, according to Israeli officials. “The attack on Israel, in conjunction with Russia’s ongoing war against Ukraine, has ratcheted up geopolitical tensions,” the Fed said in its semi-annual report on financial stability. with AFP The post Global stocks weak as ME fears persist appeared first on Daily Tribune......»»