Hefty fuel price cut set next week
MANILA, Philippines — Pump prices of petroleum products are poised to be slashed by as much as P2.50 per liter next week, according to the Department of Energy (DOE).
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Pokémon continues to enjoy love in Philippines
MANILA, Philippines – Pokémon is one of the most popular and enduring franchises in the world, with millions of fans across different generations, cultures and countries.
Forbes 50 Richest: Enrique Razon Jr. rises to 2nd in Philippines list
MANILA, Philippines — Business tycoon Enrique Razon Jr. moves up the Forbes list of the Philippines’ 50 Richest with a net worth of $11.1 billion, only falling behind the Sy siblings.
Jazz sign Finland's Markkanen to 5-year NBA extension
LOS ANGELES – Lauri Markkanen, a 2023 NBA All-Star forward, has signed a five-year contract extension with the Utah Jazz, the club revealed on Wednesday (Thursday Manila time).
British Chamber looks forward to swift passage of anti-agri economic sabotage act
The British Chamber of Commerce Philippines (BCCP) anticipates the swift passage of the Anti-Agricultural Economic Sabotage Act, which it consistently supported and identified as one of its key legislative priorities. Ratified by the Senate and the House of Representatives, the said act is currently being enrolled for submission to Malacañang.
Cebu Pacific Q2 profit: P1.3B (down 51% y/y)
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.
3 Philippines firms among Forbes Asia’s ‘Best Under a Billion’
MANILA, Philippines —Three Philippines companies have been included in this year’s Best Under A Billion of Forbes Asia, a list of the top 200 small and midsized publicly traded companies in the region with sales under $1 billion.
British Chamber hosts meat trade briefing with agri, horticulture dev’t board
The British Chamber of Commerce Philippines (BCCP) hosted the Philippine-British Meat Trade Briefing & Reception in partnership with the UK Agriculture and Horticulture Development Board (AHDB) on July 30, 2024. This event aims to reinforce the growing meat trade relations between the UK and the Philippines to ensure food security and competitiveness of the agricultural sector.