Groups oppose QC judge’s bid for associate justice due to activist arrests
MANILA, Philippines — Several groups have opposed a Quezon City Regional Trial Court (RTC) judge's candidacy for higher court and Office of the Ombudsman positions.
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China doesn’t see itself more isolated in the region
MANILA, Philippines — The Chinese Foreign Ministry yesterday downplayed the observation that China is more isolated in the region as countries, including the Philippines, want the United States’ presence to prevent an unmoored and unearthed Beijing.
'Superstar' Mbappe makes 'dream' move to Real Madrid
MADRID – Kylian Mbappe signed a five-year deal to move to Real Madrid from Paris Saint-Germain on Monday (Tuesday Manila time) and called the move a "dream come true".
Press Release - Statement of Sen. Win Gatchalian on the suspension of Bamban Mayor Alice Guo
The decision of the Ombudsman to place Bamban Mayor Alice under preventive suspension is a move in the right direction, allowing authorities to investigate freely without fear of a cover-up while she is in office. Any government officials suspected of any wrongdoing should be thoroughly investigated and held liable if found guilty.
Paalam, Bacyadan punch their way to Olympics
(UPDATE) CARLO Paalam and Hergie Bacyadan earned the right to compete in the Paris 2024 Olympics after outlasting their respective opponents in the 2nd World Olympic Qualification Tournament (OQT) in Bangkok, Thailand.
Workers call for employment retention amid reported Sofitel 'rehab,' hotel reiterates closure
MANILA, Philippines — Workers of Sofitel Philippine Plaza Manila on Monday called on holding company Philippine Plaza Holdings Inc. (PPHI) to retain their employment after the reported “rehabilitation” of the 51-year-old hotel.
DITO planning P4.2-B follow-on offering
DITO CME [DITO 2.10 ?1.4%; 60% avgVol] [link] confirmed that its board of directors approved a plan to conduct a follow-on offering of 1,953,500,000 common shares at P2.15/share. The DITO board said that the purpose of the raise is to “infuse additional capital into its operating subsidiary, DITO Telecommunity... to support the commercial roll-out of its network expansion and for general corporate requirements; and for regulatory compliance with the public offering requirements.” DITO is targeting to set the final pricing of the offer on August 14, with a listing of the shares scheduled for September 3.MB BOTTOM-LINE: DITO is required by the PSE’s rules to conduct this follow-on offering, but it also happens that the company is in desperate need of cash to fund its expansion, so it will be able to kill two birds with one stone. Unlike a stock rights offering, a follow-on offering is available for anyone to purchase regardless of whether they own existing shares of DITO’s common stock, so the price of the offering is going to be critical. Keep in mind that DITO sold billions of common shares to those 3rd party Singaporean investors in the second half of 2023 for P1.00/share, back when its share price was up above P3.00/share. DITO is basically in a race against the clock to achieve some level of profitability before it drowns under a mountain of debt largely owed in US Dollars. It has a lot of operational metrics trending in the right direction (subscribers, ARPU, coverage), but some of the most critical business metrics are going the other way. DITO lost P4.1 billion in Q1 alone (after losing P8.1 billion in all of FY23) and the exchange rate that values its debt is way worse now than it was back in 2022 when forex losses were steamrolling the company’s finances.
MullenLowe TREYNA continues hot streak with Kidlat 2024 haul
MANILA, Philippines — Fresh from its historic showing at Spikes, Adfest and Clio earlier this year—including some historic firsts for the Philippines—MullenLowe TREYNA added another round of trophies to its 2024 collection, straight from the recently concluded Kidlat Awards.