Newly opened Wawa Dam now full after 3-day 'Carina', habagat rains
MANILA, Philippines — The newly-opened Wawa Dam was filled after just three days of rainfall from Super Typhoon Carina (internal name: Gaemi) and the southwest monsoon.
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Michael de Mesa thankful for car towed after over 22 hours stuck due to 'Carina' flood
MANILA, Philippines — Actor Michael de Mesa spent almost 24 hours inside his car that was among the thousands stuck due to the flooding in Metro Manila caused by habagat (southwest monsoon) that was enhanced by supertyphoon "Carina" (Gaemi).
PSEi down 1.2% in first day of post-Carina trading
The PSEi closed its first day of trading at 6,670, down 1.2% after trading was suspended on Wednesday due to the rains and flooding in Metro Manila from Typhoon Carina. Selling pressure was strongest in the first hour of trading. The session low was reached at around 10:45 AM, when the PSEi touched 6,652 (down 1.5%). It recovered over the next hour to nearly 6,690 and then traded sideways and down for the remainder of the day. As noted by Benjamin Garcia of AP Securities [link], the biggest losers on the day were “companies that had their operations disrupted yesterday,” like banks, mining firms, and casino operators. The biggest winners were “consumer staples”, which Mr. Garcia noted “typically get a boost in sales following widespread calamities.”MB BOTTOM-LINE: In some ways, the typhoon acted like a one-day COVID. The companies that rely on the mobility of people to get from one place to another were hit the hardest, just as we saw when movement restrictions decimated our economy back in 2020/21. For companies like Nickel Asia [NIKL 3.45 ?2.8%; 259% avgVol], there is no way to recoup a lost day of mining. You can’t just “mine” harder tomorrow A single lost day is just a blip in the short-term and it’s nothing for shareholders to get too worried about, but it is something that shareholders may want to keep in the backs of their minds for upcoming shareholders’ meetings. What steps are management taking to mitigate climate risks to operations? As ocean temperatures increase so too will the intensity of the typhoons that pass over us. We average around 20 typhoons that come through our “area of responsibility”, and while some of those barely catch the outer border and only impact fishermen and cause a couple of flights to get re-routed, the ones that veer over land will whip us with wind and soak us with rain and they’re only going to get stronger and more disruptive over time. For banks, it’s maybe as simple as having a strong app (and a back-of-the-house willingness to transact natively online). It’s not so straightforward for mining firms, but that doesn’t mean that nothing can be done.
PAGASA monitoring new LPA east of Mindanao
MANILA, Philippines — State weather bureau PAGASA has spotted a new low pressure area east of Mindanao, a day after Typhoon Carina (international name: Gaemi) left the Philippine area of responsibility.
Number coding in Manila resumes July 26, says MMDA
MANILA, Philippines — Number coding in Metro Manila will continue today (July 26) after being suspended in the past two days due to the onslaught of Typhoon Carina (international name: Gaemi) and the southwest monsoon.
'Out of touch': Socialite gets flak anew for flood remark
MANILA, Philippines — A Manila socialite is currently the topic of online users after her now-deleted TikTok video went viral where she was heard talking about the flood brought by supertyphoon Carina (Gaemi) that left most of Metro Manila in a state of calamity.
Here comes the sun
IN the wee hours of July 24, a damp Wednesday, residents of Marikina City were awakened from a deep slumber by the harrowing downpour—but oh, this looked all too familiar.
Globe begins restoration in typhoon-hit areas
MANILA, Philippines — Leading telco Globe Telecom Inc. has begun restoration work on their lines in the few areas in Metro Manila and Northern Luzon that were disrupted due to the heavy rains and severe floods brought by Typhoon Carina earlier this week.