This week on the Philippine Stock Exchange, ten companies led as the top weekly price gainers, with Medco Holdings Inc. (MED) at the forefront, witnessing a 39.56% rise in its stock price to PHP 0.127, StockMarketNews.ph reported. Despite a negative Price-Earnings Ratio (PER) of -71.51, investor enthusiasm for Medco’s potential was evident. Metro Alliance Holdings & Equities Corp. “A” (MAH) followed closely with a 39.53% increase to PHP 0.6, despite negative earnings indicators, hinting at speculative interest or expected growth. TKC Metals Corporation (T) showed a robust gain of 36.62%, closing at PHP 0.485, with a positive financial outlook underscored…
Author: Business News Asia
Business News Asia
BusinessNewsAsia.com's Editorial team is composed of experienced professional journalist and financial professionals who have an average of 10 years of experience in financial and breaking news reportage.
Read More
On February 16, 2024, the Philippine stock market closed mixed, with the PSEi down 0.13% at 6,873.23, reflecting a cautious trading mood, StockMarketNews.ph reported The All Shares index slightly fell by 0.11%, while sectors like Industrials and Services showed gains, indicating selective investor sentiment. Industrials led with a 0.55% increase, and Services rose by 1.03%, showcasing resilience. Conversely, Holding Firms and Property sectors faced declines, dropping by 0.97% and 0.35%, respectively. The Mining & Oil sector also decreased by 0.20%. Positive movements in thematic indices, such as the PSE Dividend Yield and MidCap, suggest a growing interest in specific stock…
The Philippine Stock Exchange (PSE) ended higher on Thursday, with the PSEi index up 0.40% to 6,882.15, signaling cautious investor optimism, StockMarketNews.ph reported. The All Shares index rose 0.37% to 3,601.55, led by Industrials with a 1.04% gain and Services up 0.73%. Financials also increased by 0.62%, closing at 1,982.45. Conversely, the Property sector dipped by 0.38%, closing at 2,937.38. The Mining & Oil index modestly grew by 0.33%, and the PSEi Total Return Index advanced 0.39% to 2,817.51. The PSE Dividend Yield Index saw a slight rise of 0.29%, while the PSE MidCap Index fell by 0.17%. Trading was…
The Philippine Stock Exchange (PSE) closed higher today in a mixed trading session, reflecting cautious optimism among investors. The PSEi, the benchmark index, rose by 26.61 points or 0.39 percent, ending the day at 6,854.53. This uptick is a positive sign for market participants, signaling potential stability and growth in the local economy. The All Shares index also saw a gain, increasing by 11.35 points or 0.32 percent to settle at 3,588.23. This incremental growth indicates a broad-based optimism, albeit cautious, across the various sectors. In sectoral performance, Financials led the gains with a 0.53 percent increase, closing at 1,970.23,…
Globe reached a financial milestone for 2023, achieving a record consolidated EBITDA or earnings before interest, taxes, depreciation, and amortization of PHP81.4 billion, a 3% increase from the previous year’s PHP79.1 billion. This growth is attributed to a healthy 3% expansion in the company’s topline, effectively balancing the rise in operating expenses. It underscores Globe’s operational excellence and strategic focus, resulting in an EBITDA margin of 50%, aligned with its full-year guidance. “The solid EBITDA growth this year underscores our robust financial condition and our capability to continue expanding and achieving profitability amidst steep competition. It’s a clear indicator of…
Symph’s recent Tech Listens event, part of a monthly series dedicated to exploring the intersection of technology and industry, once again illuminated the power of collaborative innovation in accelerating societal progress. For its February gathering, Tech Listens selected the prestigious University of the Philippines Cebu as its venue, drawing a broad spectrum of attendees. This included students, IT professionals, entrepreneurs, and government officials, all converging to acquire knowledge and create connections that surpass the usual confines of their respective industries. A highlight of the evening was the keynote address by Director General Joel Marciano Jr. of the Philippine Space Agency.…
Marriott Hotels, the namesake brand of Marriott Bonvoy’s extraordinary portfolio of over 30 hotel brands, debuts its first hotel in Penang, Malaysia. The brand’s entry into Penang is a testament to architectural brilliance, offering an unrivaled blend of timeless style, charm, and the cultural tapestry that makes Penang unique. Situated along the prime, seafront location of Gurney Drive, Penang Marriott Hotel is a stunning property that promises breathtaking sea and city views in addition to its central location of George Town, a UNESCO World Heritage Site. “As one of Malaysia’s most lively leisure destinations and a hub for business travelers,…
Love is in the air, and SM Supermalls is turning February into a magical journey like no other! Experience the convergence of Chinese New Year and Valentine’s Day at Luck in Love– a spectacular blend of traditions, festivities, and romantic moments that will sweep you off your feet with activities happening from February 1 to 29, 2024. Indulge in the magic of togetherness as SM malls host the Luck in Love Feast. This event will bring people together over special food and dining deals because what better way to celebrate the Love Month and Chinese New Year than over a…
In the heart of Cebu City, a new lifestyle hotel, lyf Cebu City, is redefining the concept of communal living and working spaces for a diverse clientele, from digital nomads and startup founders to families and single travelers. Rey Vergel Mulat, the lyf Champion at lyf Cebu City, shares insights into the unique offerings and vision behind this innovative property. lyf Cebu City, which officially opened its doors more than two weeks ago, has quickly become a beacon for those seeking a blend of comfort, style, and functionality. The hotel, according to Mulat, is not just about providing rooms but…
The Educational reforms in the country will all be put to naught even if we have the finest curriculum and best teachers and yet we have no adequate classrooms conducive for learning, said Department of Education Undersecretary Epimaco Densing III before the Association of Baragay Kagawad (ABAKA) in Sta. Rosa Laguna on Saturday. Usec Densing is the Officer in Charge for Schools Programs Management Office and Educational Facilities Division revealed that there are 168 classroom backlog of more than 165,000 all over the Country. He reiterated that the staggering shortage has affected at least 4 to 5 million students nationwide.…
The 2024 Dinagyang Festival is set to unfold this week and Ilonggos and visitors are in for a spectacle as Iloilo City is poised to entertain guests with its diverse culture and talents that will surely send the party mode on. Afterall, Dinagyang is a Hiligaynon term for Merrymaking. The festival is a perfect representation of the Ilonggos zest for life’s adventures and resilience amidst the challenges. The private sector’s support has been a major force in making the Dinagyang a success through the years. SM City Iloilo, a major corporate partner of the Iloilo City government, has line up…
Mindanao Star Bus Transit Inc. (MSBTI) said it will support the economic growth of Central Mindanao in terms of boosting passengers mobility and transportation of agricultural products. “Mindanao Star Bus is committed to spurring and sustaining social and economic activities in this region by providing safe, dependable and affordable public transport,” said Leo Rey Yanson, the newly re-elected chairman and president of the company after the stockholders’ meeting held on January 20, 2024 in Cagayan de Oro City. Central Mindanao or SOCCSARGEN (Region XII), which includes South Cotabato, Sultan Kudarat, Cotabato and Sarangani provinces and General Santos City, is also…
In a remarkable moment for the Queen City of the South, lyf Cebu City officially swung open its doors on January 16, ushering in a new chapter of co-living and community-centric service. The opening event was graced by Philip Barnes, Country General Manager; Rey Vergel Mulat, lyf Champion (Residence Manager) of lyf Cebu City; Mathias Bergundthal, Director of Hotels and Assets of Cebu Landmaster’s; Jose Franco Soberano, SEVP and COO of Cebu Landmaster’s; Jose Soberano III, Cebu Landmaster’s Chairman and CEO; Mike Rama, Mayor of Cebu City; Judy Gabato, Chief Tourism Operations Officer of DOT – Central Visayas; and Atty.…
Quest Hotel invites you to experience the vibrant and rhythmic celebration of Sinulog on January 21, as we bring the festival spirit to life right at the pulse of Cebu City. Sinulog dancers and drumbeaters will take center stage all day at the hotel lobby and drop-off, creating an atmosphere of energy and excitement that captures the essence of this world-renowned cultural event. In the evening, the highlight will be the Sinulog Buffet Dinner at Puso Bistro and Bar, offering a feast of flavors that pay homage to the rich culinary traditions of the Philippines. Guests can indulge in a…
Malaysian-based food startup Meals in Minutes today announced that it has successfully secured $1.5 million in a seed round led by an early-stage venture fund and seed accelerator 500 Global, with participation from a private investor. This fresh round of capital will fuel Meals in Minutes’s growth across Malaysia and Singapore, including establishing a presence in the United Kingdom. The funding will also be focused on the research and development to expand Meals in Minutes’s selection of food products and build a stronger marketing campaign to reach greater target audiences across all markets. Vin Vin Khu, Chief Financial Officer (CFO)…
Singapore-based impact private equity firm ABC Impact has announced the successful first closing of its second impact fund, ABC Impact Fund II. Launched in August 2023, ABC Impact Fund II has garnered support from new investors, notably a Southeast Asian sovereign wealth fund. Bolstered by the track record of its inaugural fund, ABC Impact has also received significant backing from existing partners, including Temasek Trust, Temasek, SeaTown Holdings, and Mapletree Investments. Fund II Assets Under Management (AUM) now exceeds US$550 million, with the final close expected in 2024. “We are pleased to achieve the first closing of ABC Impact Fund…
Celebrate Sinulog, the country’s grandest festival, at your favorite SM malls in Cebu! Immerse yourself in the excitement of festive events at the core of the Sinulog Festival this month of January. The Sinulog Festival in Cebu is a vibrant and deeply-rooted religious celebration that traces its origins to the Feast of the Sto. Nino. SM Seaside City Cebu and SM City Cebu offer a vibrant and culturally rich experience for both locals and tourists when they visit the two SM malls in Cebu City this Sinulog 2024. RELIGIOUS EXHIBITION To start off the celebration, SM City Cebu and Ramon…
Running an international shipping service can be a complex and challenging endeavor, but it also opens up immense opportunities for business growth. In today’s globalized market, being able to ship products overseas is essential for reaching new customers and expanding your brand’s reach. With the rise of e-commerce and the increasing demand for online shopping, the need for efficient and reliable international shipping services has never been greater. However, like any other business venture, setting up a successful international shipping service requires careful planning and execution. This blog post will delve into key strategies and tips for running a successful…
The Subic Bay Metropolitan Authority through the abled leadership of Chairman Administrator Jonathan D. Tan bags 6 awards from the Department of Tourism – Region III. DOT 3 prestigious Tourism Recognition for Enterprises and Stakeholders Awards, known as TRES Awards named SBMA among the total of 36 awards across eight categories as; Most Visited Tourist Destination for 2023 (Champion) Top Tourist Destination for 2023 (1st runner up) Kaagapay Award (2nd runner up) Most Creative Tourism Marketing Collateral (1st runner up) Most Outstanding Tourism Month Celebration (1st runner up) Filipino Brand of Service Excellence Advocate (2nd runner up) Chairman Tan is…
Canon Singapore Pte. Ltd. (Canon Singapore) today announced the new appointment of Mr. Toshiyuki Ishii as President and CEO of Canon Singapore, the regional headquarters for Canon in the South and Southeast Asia region, effective from 1 January 2024. Mr. Ishii moved from his recent role as Head of Consumer Imaging Group in Canon China, during which he directed sales and marketing strategy since 2016. Based in Singapore, he will oversee and lead Canon employees and business partners in the area of sales, marketing, service and operations in 23 countries and regions including Singapore and subsidiaries in India, Malaysia, Thailand…