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MANILA, Philippines — Geely Auto Group has announced its latest sales data. In the first half of 2024, the company reported a total of 955,730 vehicles sold, marking a 41% increase compared to the same period last year.
Semirara Mining and Power [SCC 33.20 ?1.5%; 123% avgVol] [link] reported a Q2 net income of P6.05 billion, down 40.6% y/y from its Q2/23 net income of P10.2 billion. SCC has reported P12.6 billion in net income through the first two quarters of FY24, down 34.5% y/y. The company blamed the dramatic fall in year-on-year profitability on coal and electricity prices that “continue to subside from historic levels.” On the coal side of SCC’s business, the company reported that the price of coal declined 16% during Q2 of this year, but that it actually increased its shipments by 2% due to stronger demand.
The President could not have picked a better person to lead the Department of Trade and Industry (DTI) when he named Cristina Aldeguer-Roque as DTI Acting Secretary. During her time as Undersecretary for the MSME Development Group, she has proven to be a strong ally of the MSMEs, assisting in whatever way she can to push for policies that benefit this critical sector of our economy.
A LIKELY Federal Reserve (Fed) rate cut in September helped lift the peso higher on Friday but fears of a US recession weighed on the stock market, which closed out the week on a down note.
PILI, Camarines Sur - In an unprecedented collaboration, the Department of Agrarian Reform (DAR) has successfully facilitated an agreement between nine agrarian reform beneficiaries’ organizations (ARBOs) in Camarines Sur and the 9th Infantry Division of the Philippine Army, based in Pili to guarantee a consistent market for farmers' agricultural produce and processed food products.
MANILA, Philippines — The many digital and artistic renditions of actress Liza Soberano in her new commercial as BYS’ new endorser makes one wonder if Artificial Intelligence (AI) was used in the ad, for which the international cosmetics label quickly dismissed as “No!”.
The US Federal Reserve (the “Fed”) [link] elected to leave interest rates unchanged yesterday, but remarked through its chairman that the decision to pivot and apply the central bank’s first rate cut “could be on the table in the September meeting.” Fed Chairman Jerome Powell said that the US job market is in a “good place” and that he would “not like to see material further cooling to the job market”. Mr. Powell said that the Fed was on-trend for a “soft landing”, which is an outcome where inflation is brought back down into the 2% maximum band without triggering a recession.