Pump prices set to go down
MANILA, Philippines — Pump prices of petroleum products are expected to be rolled back by close to P1 per liter next week, according to the Department of Energy (DOE).
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Climate group: BBM, 'stay true' to climate agenda
A GROUP of climate reality leaders called on President Ferdinand Marcos Jr., also popularly known as BBM, to stay true to his administration's climate agenda, which focused primarily on renewable energy (RE) after he delivered his third State of the Nation Address (SONA) on July 22.
Curry backs Harris White House bid, wants 'unifying' Olympic gold
PARIS, France — USA basketball star Stephen Curry gave his public backing to Kamala Harris's bid for the White House on Thursday and believes Olympic glory will help unite the country ahead of November's US presidential elections.
Call Beijing’s Bluff in the South China Sea
Over the past 15 years, China has expanded its once-minimal military presence in the South China Sea into a significant one.
LNG's safety, reliability highlighted as Philippines pursues energy transition
MANILA, Philippines — As the Philippines pushes its transition to cleaner energy sources, a noted LNG specialist underscores the crucial role of liquefied natural gas (LNG) in ensuring energy security and environmental sustainability.
POGO stocks dumped in 1st day of trading after ban
As reported yesterday (MB link), President Marcos has banned POGOs and instructed PAGCOR to phase them out completely by the end of the year. That announcement was made after the close on Monday, so the first opportunity for POGO stocks (and POGO-adjacent stocks) to react was during the trading session yesterday. The biggest POGO-related declines were in DoubleDragon [DD 11.30 ?5.2%; 442% avgVol] and its REIT subsidiary, DDMP [DDMPR 1.10 ?5.2%; 1236% avgVol], but other developer/REIT pairings saw significant selling pressure in the early hours, like Filinvest Land [FLI 0.69 unch; 76% avgVol] and Filinvest REIT [FILRT 3.01 ?2.6%; 40% avgVol]. Ayala Land [ALI 31.60 ?0.9%; 113% avgVol] and Robinsons Land [RLC 14.98 ?2.1%; 24% avgVol] were down, as were SM Prime [SMPH 29.90 ?2.5%; 80% avgVol] and Megaworld [MEG 1.84 ?1.6%; 134% avgVol]. There may have been something of a “flight to safety” in the REIT sector, as AREIT [AREIT 36.90 ?1.2%; 89% avgVol] pumped and some of the non-POGO stocks like Citicore Renewable Energy REIT [CREIT 2.85 ?0.3%; 77% avgVol] saw an uptick in buying interest. MB BOTTOM-LINE: The carnage was considerable for Injap Sia and Tony Caktiong’s DD and DDMPR, but it’s not like a potential POGO ban hasn’t been kicking around in the halls of power for years now. There’s been plenty of notice. If I were a shareholder of DD (I’ve never owned this stock) or especially of DDMPR (I owned this stock for 6 months following the IPO) I’d be expecting my management team to put out some kind of communication to shareholders to help contextualize this news for existing investors. It’s also important for these companies to make the case to other non-shareholder investors, too, as the price action of the stock depends on bringing more people into the tent. Past behavior would suggest that DDMPR will likely remain silent here, which I think is another example of this management team neglecting its responsibilities to its shareholders and the perception of the company.
Ramon Villavicencio resigns from San Miguel board
San Miguel [SMC 99.50 ?3.1%; 115% avgVol] [link] disclosed that one of its directors, Ramon F. Villavicencio, resigned effective July 31st. SMC’s disclosure said that Mr. Villavicencio did not provide a reason for his resignation.MB BOTTOM-LINE: Mr. Villavicencio resigned as chairman of Basic Energy [BSC 0.14 ?1.4%; 371% avgVol] earlier this year due to health concerns, so perhaps today’s resignation follows along that same path. Mr. Villavicencio is a well-connected veteran of the petroleum and energy sectors. His son, Rafael Villavicencio, currently owns BS
Marcos pushing for passage of 28 bills
MANILA, Philippines — President Marcos is seeking the passage of at least 28 measures aimed at sustaining economic growth, addressing poverty, ensuring food security and maintaining peace and order and the ratification of four conventions on the safe use of nuclear energy.