Mindanao armed groups funded by smuggled Indonesian cigarettes
ARMED groups in Mindanao are financing their activities through smuggled cigarettes, mostly originating from Indonesia, a security expert said in a recent forum.
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Pump prices set to go down
MANILA, Philippines — Pump prices of petroleum products are expected to be rolled back by close to P1 per liter next week, according to the Department of Energy (DOE).
BingX Launches Pre-Market Trading for Early Access to New Digital Assets
VILNIUS, Lithuania, July 27, 2024 /PRNewswire/ — BingX, a leading cryptocurrency exchange, proudly announces the launch of BingX Pre-Market Trading feature. Utilizing this feature, BingX users can enjoy early access to coins, efficient price discovery, and enhanced liquidity. It also allows for the activation of community trading interests, positioning BingX as a primary market for new assets once they are officially listed. This innovative platform enhancement is set to redefine the landscape of cryptocurrency trading, providing users with unprecedented early access to new digital assets before their official listing, starting with Hamster Kombat (HMSTR) and Catizen (CATI). This captivating clicker game has garnered a substantial user base interested in the TON Ecosystem built on the Telegram instant messaging app.
DOH lists medicines under price freeze in 'Carina'-hit areas
MANILA, Philippines — The Department of Health on Friday notified the public about the types of medicines covered by the government's price freeze on essential items in areas hit by Typhoon Carina and the southwest monsoon.
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.
Price freeze in effect in Metro Manila – DTI
MANILA, Philippines — A price freeze on basic goods is being implemented in Metro Manila, following the declaration of a state of calamity due to Super Typhoon Carina.
Monsoon rains, floods halt forex, stock trading
STOCK and foreign exchange trading were suspended on Wednesday as heavy rain and floods brought by a typhoon-enhanced southwest monsoon led to the cancellation of classes and the closure of most government offices in Metro Manila.
Stock market today: Asian stocks fall after a torrent of profit reports leaves Wall Street mixed
Asian stocks mostly fell on Wednesday as markets digested Japanese and Australian business data, after U.S. stocks held relatively steady as earnings reporting season ramped up for big companies.