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Market down slightly; Basic Energy jumps

The stock market slipped for the second straight day as investors began consolidating their portfolio amid rising COVID 19 cases and the rollout of vaccine within the first half of the year......»»

Category: financeSource: thestandard thestandardJan 13th, 2021

Stock market drop slightly; BDO and Puregold decline

Stocks fell again Monday as investors took a breather following a recent rally, with some investors waiting on the sidelines for any signs of a market uptick......»»

Category: sportsSource:  abscbnRelated NewsJan 19th, 2021

Market climbs; AC Energy, Apollo Global lead gainers

The stock market rebounded Thursday in step with the rest of Asia, as investors await Joe Biden’s proposals for a vast new stimulus as well as comments from the head of the Federal Reserve on its policy outlook......»»

Category: lifestyleSource:  abscbnRelated NewsJan 15th, 2021

M2DC to acquire Basic Energy

Real estate firm Map 2000 Development Corp. is expanding into the energy sector by acquiring 67.83 percent of Basic Energy Corp. for P2.8 billion......»»

Category: financeSource:  philstarRelated NewsJan 13th, 2021

Profit taking pulls down market; AC Energy drops

Stocks fell Tuesday on profit taking as frighteningly high new COVID-19 case numbers and deaths around the world—and the resulting lockdowns—kept a cap on buying......»»

Category: financeSource:  thestandardRelated NewsJan 13th, 2021

New power spot market pricing methodology OKd

The Energy Regulatory Commission has finally approved the new price determination methodology for the Wholesale Electricity Spot Market, which will speed up electricity trading and pave the way for the full operations of the electricity bourse in Mindanao......»»

Category: financeSource:  philstarRelated NewsJan 1st, 2021

Market closes year down 7.8%; peso up 5.2% vs. $

Stocks rose slightly Tuesday in cautious trading in as some investors took profits ahead of the new year after a record-breaking lead from Wall Street......»»

Category: financeSource:  thestandardRelated NewsDec 29th, 2020

Stock market drops; Dito, AC Energy lead advances

The stock market fell Monday as investors took profits ahead of Tuesday, the last trading of the year, in a shortened trading week......»»

Category: financeSource:  thestandardRelated NewsDec 29th, 2020

AC Energy recognized for high compliance

AC Energy, the power generation arm of Ayala Corp., bagged multiple accolades for exemplary compliance of its renewable energy projects at the recently concluded Wholesale Electricity Spot Market Compliance Officers Summit 2020......»»

Category: financeSource:  philstarRelated NewsDec 8th, 2020

Market drops; AC Energy, URC lead losers

Stocks retreated Wednesday on another bout of profit taking and lingering worries about the impact of a spike in coronavirus infections around the world......»»

Category: financeSource:  thestandardRelated NewsNov 25th, 2020

Market rises slightly; RLC, Metro Pacific lead gainers

The stock market rose slightly Monday on last-minute buying from investors on growing optimism over vaccine developments......»»

Category: financeSource:  thestandardRelated NewsNov 24th, 2020

PH shares slip, but stay in 7,000 level

The stock market closed slightly lower on Wednesday, a day after soaring into the 7,000 territory, but positive investor sentiment remained steady. The benchmark Philippine Stock Exchange index (PSEi) shed 0.16 percent or 11.22 points to end at 7,024.26 while the wider All Shares gained 0.16 percent or 6.33 points to finish at 4,102.80. AAA […].....»»

Category: newsSource:  manilatimes_netRelated NewsNov 12th, 2020

Market slips; GT Capital, Megaworld advance

Stocks fell slightly Wednesday on profit taking after the benchmark index jumped to an eight-and-a-half-month high in the previous day......»»

Category: financeSource:  thestandardRelated NewsNov 12th, 2020

PH eyes modest $31-M export deals at China expo participation

The Philippine delegation is targeting to attract over 1,300 buyers and generate a modest  $31 million worth export deals at the upcoming China International Import Expo (CIIE),  significantly lower than the $300 million the Philippines realized during last year’s China International Import Exposition (CIIE). Trade and Industry Secretary Ramon M. Lopez said the apparently lower sales target this year may mean on the spot deals only and may not include post CIIE sales attributed to said expo. “Factoring also that this year is Pandemic year. This is a hybrid show this year, where the goods are displayed but negotiations are done via the online B2B facility.  The target is also based on the reduced pavilion size this year, as well as the projected decrease in the number of buyers attending CIIE this year,” said Lopez. Philippine mango and pili nuts are among the products that will be showcased under the FOODPhilippines Pavilion. Already, DTI’s Export Marketing Board and the Center for International Trade Expositions and Missions (CITEM) facilitated initial talks with the Philippine delegation and 40 Chinese buyers in a video conferencing. These Chinese buyers are importers, distributors, and retailers. During last year’s CIIE, Philippine exhibitors booked around $300 million in sales at the second CIIE, more than double the $124 million recorded sales in 2018. This year’s third CIIE will be held on Nov. 5-10 in Shanghai. In the B2B session, Chinese buyers expressed interest in working together with Philippine companies that produce fresh fruits and vegetables, chocolates, healthy snacks, seafood, beverages, and condiments.  For this hybrid participation, there will be a mix of physical product presentation in the pavilion that will be facilitated by onsite officers from the DTI trade posts in China and online B2B matching activities between our companies in Manila and the Chinese buyers who will visit the Philippine booth in Shanghai, according to CITEM Executive Director Pauline Suaco-Juan. With the theme “Healthy and Natural,” 40 Philippine companies will exhibit and sample the country’s wide range of tropical fruits and vegetables, processed fruits and nuts, healthy snacks, seafood and marine products, and other premium food selections. The FOODPhilippines pavilion will feature interactive conference pods for the first time in CIIE to enable virtual business-to-business (B2B) activities and video conferencing. In place of actual Philippine exhibitors manning the booths, Philippine Commercial Counsellors will represent the government and exhibitors, promote exhibitor brands and products onsite, and relay all business leads and contacts generated during the show. The participation in CIIE is organized in partnership with the Foreign Trade Services Corps (FTSC) through the Philippine Trade & Investment Centers (PTICs) in Beijing, Shanghai, Guangzhou, and Hong Kong, and the Export Marketing Bureau (EMB). Government partners are the Department of Agriculture (DA) through the Office of the Agricultural Counsellor in Beijing (DA-OAC-Beijing) and the Department of Foreign Affairs (DFA). The Philippine mango and pili nuts are among the products that will be showcased under the FOODPhilippines Pavilion.project is likewise supported by business associations such as the Philippine Exporters Confederation, Inc. (PHILEXPORT) and the Federation of Filipino-Chinese Chambers of Commerce & Industry, Inc. (FFCCCII).          Leading the FOODPhilippines’ opening in CIIE are representatives from the Philippines and China, namely the Philippine Ambassador to China Jose Santiago Sta. Romana, Philippines’ DTI Secretary Ramon M. Lopez, FFCCCII President Dr. Henry Lim Bon Liong, and Deputy Director General Yang Weiqun from the Department of Asian Affairs of China’s Ministry of Commerce (MOFCOM). Under the FOODPhilippines delegation, 40 companies that will highlight tropical fruits and vegetables will be Hilas Marketing Corporation, Agrinurture, Inc., Mancoco Food Processing, Inc., Excellent Quality Goods Supply Company, Castillo Import Export Ventures Inc., Doxo International Trading, Magsasakang Progresibo Marketing Cooperative, See’s International Food Mfg, Corp., Century Pacific Agricultural Ventures, Inc., Team Asia Corporation, Eau de Coco, Inc., Eng Seng Food Products, Greenlife Coconut Products Philippines, Inc., Tongsan Industrial Development Corporation, Islandfun Inc., Limketkai Manufacturing Corporation (LMC), KLT Fruits, Inc., Zigmund Enterprise, Business Innovations Gateway, Inc., Sangkutsa Food Products, Inc., AG Grays Farm, Marigold Manufacturing Corporation, and the Federation of People’s Sustainable Development Cooperative. To show its goodwill to the Chinese market, the Philippine delegation will donate healthy products to Food Bank China as part of the launch of the Shanghai Food Bank Project with Liwayway China on November 5. The donation will include 200 packs of banana chips from Excellent Quality Goods Supply Company, 50 tuna packs of premium handline tuna from Century Pacific Food Inc., and bundles of virgin coconut oil (VCO) and various coconut products from Team Asia Corporation. The food donation to the Food Bank China serves as a way of giving back and a token of appreciation to the Chinese community for its continued support towards the Filipino representatives and communities in China, according to Commercial Vice Consul Mario Tani of the PTIC in Shanghai. Meanwhile, healthy snack varieties will be showcased by Magic Melt Foods Inc., Sandria’s Delicious Concept, Vegetari Vegetarian Products, Market Reach International Resources, SL Agritech Corporation, and the Philippine Franchise Association. Tuna and other seafood selections will be presented by Century Pacific Food Inc., Universal Canning, Inc., Fisher Farms, Incorporated, Jam Seafoods, Inc., Phil. Union Frozen Foods, Inc., and Gerabuenas Trading. Likewise, premium food selections will be offered by Global Basic Co., Ltd, Subic Superfood Incorporated, Chocoloco, Inc., Filipinas de Oro de Cacao, Inc., and Seabeth Food Processing......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020

Jericho Rosales to do a movie in LA next year

Jericho Rosales might just fulfill his Hollywood dream soon, that is, if COVID-19 allows it. The actor confirmed a project is awaiting him in Los Angeles, California in a recent interview with “Balitang America.” Jericho Rosales “It may push through, it may not push through because of COVID, we don’t know. But I’m hoping fingers crossed (that) by March, I will be there,” the 41-year-old said. In the same interview, Jericho also talked about his short film “Basurero” and how he was able to relate to it. Note that “Basurero” tells the story of a fisherman struggling to make ends meet. The short film is being shown in US film festivals. He related, “When I was 14, I was working at a fast-food chain. I was 15 and I became a driver and before I had many jobs like I sold fish in the market. Acting was such a blessing for me. That opened up so many opportunities for me and that opened my mind to like the things that I really wanted to do.” “I remember myself saying that, ‘okay, I think I’m at the right place because I didn’t go to college but this is what I want to do.’ That motivated me but before that my greatest motivation was just for me to just give my family a better life,” he added.  He hopes to inspire people through “Basurero.” “I really want people  to know what they deserve. I want people to know what other people deserve and that for me is education, having access to basic needs, having access to a home, having access to internet, nowadays especially di ba? And we have to care about people.”.....»»

Category: newsSource:  mb.com.phRelated NewsNov 3rd, 2020

Isko warns traders vs overpricing, profiteering

Manila Mayor Isko Moreno yesterday ordered market officials to implement a price freeze on basic commodities as he warned traders and vendors against overpricing and profiteering......»»

Category: newsSource:  philstarRelated NewsNov 2nd, 2020

Heftier oil price cut expected next week

Consumers’ pockets will experience heftier cash relief next week as oil prices are anticipated to be on a substantial rollback of P0.75 to P0.90 per liter for gasoline; and P0.80 to P0.90 per liter for diesel. MB file photo. (Mark Balmores) For kerosene, the price of this commodity is also expected for a reduction of P0.65 to P0.75 per liter, based on the initial calculation of the oil firms. Industry players will be implementing these price cuts by Tuesday (November 3); although the dictates of competition may prompt other oil firms to enforce rollbacks ahead of their company rivals to corner patronage of consumers. The price change scene at the domestic pumps is in contrast to what’s happening with the price of liquefied petroleum gas (LPG), a product commonly used in households for cooking, which is rising by P3.20 per kilogram this November. From the leaner price reductions implemented last week, the Department of Energy (DOE) logged that the total year-to-date adjustments in pump prices had been a net decrease of P4.67 per liter for gasoline; P10.26 per liter for diesel; and P13.59 per liter for kerosene. As culled from the energy department’s monitoring, prices have been softening in the Asian market because of sustained low demand; while most refineries are also seen increasing their runs next month following completion of maintenance works in their facilities this October. Globally, what is being watched closely is the ramp up in production of Libya; with experts noting that the more barrels it has been injecting into market could “disrupt the market rebalancing strategy” being pushed by the Organization of the Petroleum Countries (OPEC) and its ally-producers. To note, the OPEC+ alliance has been requiring stricter compliance on the agreed production cuts until December this year, so sagging oil prices could be lifted. “Libya’s additional crude could change the story back to oversupply concerns as crude demand outlook weakens, as the world continues on restrictive measures and lockdowns to contain Covid-19,” the DOE monitoring report has stated. As the Philippines is highly import-dependent market, supply-demand shift developments in the international market could impact on the swing of prices being reflected at the pumps on a weekly basis......»»

Category: newsSource:  inquirerRelated NewsOct 31st, 2020

Market up slightly; Converge falls

The stock market rose slightly Monday, with gains capped by mild profit taking on select issues that rallied last week......»»

Category: sportsSource:  abscbnRelated NewsOct 26th, 2020

Power spot market price spike anomaly?

An unexpected surge of electricity prices brought about by high charges in the Wholesale Electricity Spot Market (WESM), has resulted in increased generation charges. This prompted consumer advocacy group CitizenWatch Philippines—where I am convenor—to ask the Energy Regulatory Commission for an investigation. Specifically, we asked the ERC for a probe on these spot market price spikes during the lockdown months. No “yellow” alerts, or public warnings on thinning power supply, were issued......»»

Category: newsSource:  thestandardRelated NewsOct 26th, 2020

Pump prices on slight rollback next week

            Just in time for the start of the Christmas traffic build-up, motorists can enjoy a slight relief in their pockets next week as pump prices will be on rollback of P0.10 to P0.20 per liter for gasoline; and P0.25 to P0.35 per liter for diesel. MB file photo. (Mark Balmores)             Kerosene prices will also be reduced by P0.15 to P0.25 per liter, based on the calculation of the oil companies as hinged on the Mean of Platts Singapore (MOPS).             Next week’s adjustments will break the cycle of mixed up-and-down movements in pump prices which featured prominently in the domestic oil market in recent weeks.             In a monitoring report of the Department of Energy (DOE), it indicated that the year-to-date adjustments in oil prices hover at a net decrease of P4.67 per liter for gasoline; P10.01 per liter for diesel; and P13.44 per liter for kerosene.             Pump prices in the Philippines are influenced by two major factors: the swing in oil prices in the world market; and the fluctuations in the peso-dollar exchange rate.             According to the energy department, the demand recovery for oil in Asia will continue to track “bumpy roads” across products, with longer pace of rebound anticipated for the aviation sector.             It added that refinery runs in the region may scale up by the fourth quarter of this year, but price lifts may take longer to be concretized – and the assumption is for it happening through 2021.             Primarily for gasoline, it was noted that demand may still weaken because of the resurgence of Covid-19 infections, which may then lower winter driving activities especially in Europe......»»

Category: newsSource:  mb.com.phRelated NewsOct 24th, 2020

Schneider Electric calls for students& rsquo; innovative ideas for smarter, more sustainable future

Schneider Electric, the global leader in digital transformation of energy management and automation, acknowledges that energy is a basic human right and continually develops new technologies to enhance the lives of people around the world. The company recognizes the urgent need for bold ideas that can reshape a smarter and more sustainable future for everyone......»»

Category: techSource:  thestandardRelated NewsOct 24th, 2020