UAAP face-offs: NU vs UST
MANILA, Philippines — Who let the dogs out?
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SPNEC confirms plans to sell 40% stake in Terra Solar project to foreign investors
SP New Energy [SPNEC 1.10, down 2.6%; 92% avgVol] [link], now a Meralco [MER 374.80 unch; 80% avgVol] subsidiary under Manny V. Pangilinan’s chairmanship, confirmed reports that it plans to sell “up to 40% equity stake in the Terra Solar” project. The report quoted MVP as saying that SPNEC was in talks with three to five potential investors, and then quoted an unnamed executive who said that SPNEC would take in “at most” two of those potential foreign investors for a combined 40% stake in Terra Solar. MVP said that they were trying to engineer it so that each foreign partner might take a 20% stake. MVP noted that SPNEC still intends to meet its 2026 energization target.
DigiPlus Q1 profit: P2.0-B (up 370%)
DigiPlus Interactive [PLUS 12.76, down 4.6%; 79% avgVol] [link] reported a Q1 net income of P2.0 billion, up 370% y/y from its Q1/23 net income of P0.4 billion. PLUS attributed its performance to revenue increases in all of its material business segments: retail games (+237%), casino rental income (+30%), hosting fees (+19%), and other leases (+12%). In the “FUTURE PLANS” portion of the Management’s Discussion and Analysis section, PLUS said that it “continues to execute on its... vision to be the number one digital entertainment group in the Philippines.” PLUS said that it is looking to boost customer retention through the use of “big data technologies” and plans to “embark on aggressive marketing efforts” to “enhance customer engagement.” The group’s Franchise Fees and Taxes expense grew 201% y/y to P6.8 billion, but this is the amount that PLUS pays PAGCOR and the government as a percentage of its gross gaming revenue.
Press Release - Gatchalian wants to amend murky provisions of CREATE law
Senator Win Gatchalian is seeking to amend murky provisions of the Corporate Recovery and Tax Incentives for Enterprises, or the CREATE Act, to address concerns such as lack of clarity and consistency in the measure's implementing rules and regulations (IRR).
Struggling as a working mom? These mamas run the office and household with grace and gratitude
MANILA, Philippines — For many working mothers, the decision to continue working isn’t solely driven by the family’s financial needs. More often than not, it's fueled by a deep passion for personal fulfillment.
Disney's streaming business turns a profit in first financial report since challenge to Iger
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year.
Marcos hopes for Philippines-EU FTA by 2027
MANILA, Philippines — President Marcos is hoping to conclude negotiations for a free trade agreement (FTA) between the Philippines and the European Union by 2027 that is seen to further boost trade and investments between the country and the EU.
Internal revenue stamps for vape products mandatory by June
MANILA, Philippines — Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. reminded the public that internal revenue stamps will be mandatory for all imported and locally manufactured vape products in the market by June 1, 2024, as stated in Revenue Memorandum Circular 59-2024.