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On Wednesday, August 7, Senator Christopher "Bong" Go attended the 26th Commencement Exercises of Universidad de Manila in Ermita, Manila, as the Guest of Honor and commencement speaker, addressing a jubilant crowd while giving honor to graduates, educators and parents present.
Nickel Asia [NIKL 3.30, up 4.8%; 164% avgVol] [link] reported a Q2 net income of P1.35 billion, up 4.4% y/y from its Q2/23 net profit of P1.30 billion. On an H1 basis, NIKL’s revenues were down 15% y/y to P9.3 billion and its net income was down 38% y/y to just P1.7 billion. NIKL’s management team explained the drop as a result of lower nickel ore prices caused by the “present oversupply situation facing the nickel industry”. While NIKL sold 9% more ore in H1/24 than it did the previous year, the revenues that it earned as a result of those sales fell 16%.
Cebu Pacific [CEB 27.85, up 0.2%; 64% avgVol] [link] reported a Q2 net income of P1.3 billion, down 51% y/y from its Q2/23 net income of P2.7 billion. CEB’s H1 net income of P3.5 billion is down just 5% y/y. CEB generated P26.1 billion in Q2 revenue (+15% y/y) on a passenger volume of six million (+10% y/y). While CEB declined to provide its Seat Load Factor (SLF: passengers/seats flown) for Q2 as it has in previous quarters, its Quarterly Report shows an H1 SLF of 85.3%, which is higher than H1/23’s 84.8%, but lower than the 86% it registered in Q2/23 and the 90% it reported back in the pre-pandemic CEB golden age of 2019. CEB splits its income into three streams (passenger, cargo, and ancillary), and all three generated increases on an H1 basis. Passenger revenues were up 18.4% to P5.55 billion on what the management team called an “overall increase in travel demand.” Cargo revenues were up 31.9% to P2.64 billion, driven by a 26.8% increase in cargo volume and higher service prices. Ancillary revenues were up 14.8% to P1.70 billion, thanks largely to the increase in passenger volumes.
Agrarian reform beneficiaries (ARBs) from eleven (11) ARB organizations (ARBOs) in the province of Romblon attended a comprehensive training on the Agricultural Insurance Program to sustain and protect their crops held at Harbour Chateau, Poctoy, Odiongan, Romblon.
Senator Alan Peter Cayetano appealed to the government on Tuesday to focus on growing the economy to boost public funds instead of relying on gambling as a revenue source.
Technology advocacy group Digital Pinoys urged internet providers to suspend broadband connectivity lease fees to expand Filipinos' access to the internet.
UNITED States Coast Guard (USCG) personnel and experts from the National Oceanic and Atmospheric Administration (NOAA) will join the Philippine Coast Guard (PCG) in conducting on-site assessments to find ways to minimize the impact of the oil spill off Bataan Eight personnel from the USCG and NOAA will provide technical assistance to those conducting oil spill response operations. MT Terra Nova, one of the three ships that figured in separate maritime incidents that caused the oil spill off Bataan, was carrying 1.4 million liters of diesel when it sank last July 25. Two days later, MTKR Jason Bradley capsized off the village of Cabcaben in Bataan's Mariveles town due to bad weather on July 27.
