Balita.org: Your Premier Source for Comprehensive Philippines News and Insights! We bring you the latest news, stories, and updates on a wide range of topics, including politics, culture, economy, and more. Stay tuned to know everything you wish about your favorite stars 24/7.
HONG KONG, China — Asian investors trod carefully Tuesday after the latest bounce in optimism fueled by hopes Federal Reserve boss Jerome Powell will signal an interest rate cut in a highly anticipated speech to top central bankers this week.
The PSE notified the market that it will lift the Dominion Holdings [DHI suspendedl] [link] trading suspension today that was first imposed on the company back in 2020 when BDO [BDO 147.00, up 3.7%; 122% avgVol] sold its interest in DHI (then known as BDO Leasing and Finance) and the transaction was deemed a backdoor listing. The agreement governing the sale of BDO’s interest was terminated in 2021 “for failure to comply with the closing conditions of the transaction”. As part of DHI’s comprehensive disclosure, the company said that BDO owns 88.54% of DHI’s shares, that the company did not have a “substantial change in its shareholding structure”, and that the company “did not undergo a financial restructuring... or any other proceeding.” The PSE noted that DHI will begin trading today without a static threshold because the shares have not been traded since January 2020. The static threshold is also called the “trading band”; it’s the PSE-imposed limit on the gain (+50%) and loss (-30%) in a single day of trading.
CTS Global [CTS 0.65, up 3.2%; 119% avgVol] [link] posted a Q2 net income of P32 million, up 427% y/y from its Q2/23 net income of P6 million, and up 37% q/q from its Q1/24 net income of P24 million. CTS’s H1 revenues increased 160% to P89 million due to trading gains from CTS’s ability to “capitalize on the equities rally during the first half of 2024 as certain sectors thrived particularly in the big tech companies despite continued volatility due to inflation and geopolitical concerns among others.” CTS’s global trading desk produced P16.3 million in trading revenues (up 161% from an H1/23 loss of P26.5 million) and its local trading desk produced P23 million in trading revenues (up 206% from an H1/23 gain of P7.5 million). The remaining income came from interest earned off of CTS’s considerable government bond portfolio.
MANILA, Philippines — Oil companies are set to increase prices at the pumps today by at least P1 per liter as geopolitical tensions continue to threaten global markets.
HONG KONG, China — Equities were mixed Monday following last week's strong performance, with traders focused on a closely followed meeting of central bank chiefs where the Federal Reserve's Jerome Powell is due to deliver a key speech.
MANILA, Philippines — An official of the Department of Agriculture defended the move of DA Secretary Francisco Tiu Laurel Jr. to allow franchises for Kadiwa outlets.
South Korea's Dewha, a skincare brand known for promoting a minimalist approach to beauty, has launched its «10-Day Glow Challenge» to mark its fourth anniversary in the Philippine market.
MINDANAO Container Terminal (MCT), operated by International Container Terminal Services Inc. (ICTSI) in Tagoloan, Misamis Oriental, recently welcomed the launch of Shandong International Transportation Corp.'s (SITC) China-Philippines Express 7 (CXP7) service.