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PARIS – Debt-ridden French IT group Atos, the cybersecurity and data provider for the Paris Olympics, posted a huge annual loss Tuesday but vowed that its troubles would not disrupt the Games.
SUBIC BAY FREEPORT, Philippines — The arrival here of GTS Serenade of the Seas, a 12-decker cruise liner operated by Royal Caribbean International, is expected to resurrect Subic’s cruise tourism program, which had gained momentum before being halted by the COVID-19 pandemic three years ago.
The Department of Agriculture (DA) has declared Sultan Kuradat as avian influenza-free province, allowing movement of birds including chickens, duck and other poultry products within and outside the province.
Alternergy [ALTER 0.75, down 1.3%] [link], the renewable energy generation company founded by Vince Pérez (former DoE Secretary), announced that its board of directors reallocated P65 million of the IPO proceeds that were originally scheduled for the Solana Solar Project, Ibulao Mini Hydro Project, Cavite Offshore Wind Project, Tablas Strait Offshore Wind Project, and the operationalization of Green Energy Supply Solutions Inc. The funds will now be applied to the Tanay Wind Project and Alabat Wind Project, which are both scheduled to begin construction in Q2. These projects are scheduled to begin commercial operation by November 2025.
Upson International [UPSON 43.45 unch] [link], the IT retailer primarily operating through the Octagon retail brand, teased its FY23 financial results headlined by a 13.7% dip in net income to P464 million. UPSON reported a 5.8% increase in revenues to P10 billion, which the company attributed to contributions from new stores, and a 1% increase in same-store sales. This topline uptick was unfortunately outweighed by an 8.9% increase in the cost of inventories sold, contributing to a 9.5% increase in operating expenses. UPSON said that it opened 25 stores in FY23, with 12 of those openings coming in just the 4th quarter alone. UPSON blamed the bottom-line underperformance on “lower gross margin” and “pre-opening costs” from its expansion efforts.
MANILA, Philippines — The water elevation in Angat Dam dropped to 200.05 meters yesterday and may go down below its minimum operating level of 180 meters in June due to the El Niño phenomenon, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA).
MANILA, Philippines — Various transport groups yesterday appealed to President Marcos to stop the expansion of motorcycle taxis in Metro Manila amid the impending decision of the Land Transportation Franchising and Regulatory Board (LTFRB) to authorize several companies as players in the pilot study.
THE Food and Drug Administration (FDA) on Monday advised all retailers of medical devices to secure their license to operate (LTO) following the full implementation of FDA Circular 2021-021.