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MANILA, Philippines – In-form Kim Remolino and Raven Faith Alcoseba hope to ride the momentum of their victories in the National Age Group Triathlon as they gear up for another stab at triathlon glory in the Go for Gold Sunrise Sprint, a sub-category event of the 5150 Triathlon CamSur reeling off February 11 in Camarines Sur.
We don’t have any big scheduled news or events coming directly from the PSE or any of its companies this week, but we do have the US Federal Reserve (the “Fed”) decision on US interest rates that we will learn about on Thursday morning. Expectations are that the Fed will do nothing, but all eyes (and ears) are trained on the forward guidance that the Fed will give as part of its discussion of the move. Forbes said that the “markets still see a 40% chance of a rate cut at the subsequent meeting in March.” Reuters wrote about the five signs that a pivot is coming. The Financial Post doesn’t expect cuts in January, but is looking for the Fed to “begin discussing the broad parameters for lowering rates.”
Ayala Land [ALI 34.00, down 0.4%; 134% avgVol] [link] disclosed that it sold 181 million shares of its subsidiary, AREIT [AREIT 32.00, down 4.5%; 4854% avgVol], at P31.10/share which was a 7.2% discount to the previous day’s closing price. The sale raised approximately P5.6 billion for ALI, but more importantly, it pushed 181 million AREIT shares into the public float ahead of its planned property-for-share swap with AREIT. Under the terms of the swap, AREIT will issue 841.3 million primary shares to ALI and its subsidiaries and affiliates, and ALI must sell approximately 260 million shares to avoid an AREIT public float violation when the transaction is approved by the SEC.
MANILA, Philippines — The Metropolitan Manila Development Authority (MMDA) plans to build more stations for the Pasig River Ferry Service (PRFS), an official said yesterday.
MANILA, Philippines — The Philippines, known for its scenic beaches and talented boxers, is now aiming to make a mark in the agricultural sector, specifically in high-quality seafood production. DATAJ Aquafarm Inc., based in Cagayan and established in 2009, is leading this charge with a focus on becoming synonymous with top-notch aquaculture.
BANGKOK, Thailand — The Thai media company that owns Miss Universe has sold half of its stake in the long-running beauty pageant to a Mexican company for $16 million (P901 million).
THE Independent Electricity Market Operator of the Philippines Inc. (IEMOP) and the Department of Energy (DoE) commenced the full commercial operations of the energy reserve market on Friday.
MANILA, Philippines — The Dot Property Southeast Asia Awards recognized 46 winners from across the region with leading developers Asset Wise, Capitaland and Asset World Corporation among those to be honored.