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MANILA, Philippines — At least 17 Filipino seafarers were taken hostage by Yemen’s Houthi armed group when the rebels hijacked their cargo vessel in the Red Sea on Sunday, the Department of Foreign Affairs (DFA) has confirmed.
MANILA, Philippines — Kathryn Bernardo's celebrity friends unfollowed Daniel Padilla and Andrea Brillantes over a rumored betrayal.
MANILA, Philippines — Actress Rhian Ramos tweeted a cryptic comment just as pictures of the Philippines in the Top 5 from the official Miss Universe art card circulated online.
MANILA, Philippines — This holiday season, Jollibee is leveling up Christmas joy for its customers through the sizable savings they can get from its newest limited-time offer promo.
MANILA, Philippines — Miss Universe Philippines Michelle Dee had a stellar performance during the preliminary competition of the 72nd Miss Universe pageant held in El Salvador.
UNITED NATIONS, United States — Flags flew at half-mast at UN facilities across the globe Monday including at the body's New York headquarters, as staff stood in silent tribute to the more than 100 colleagues killed in Gaza during the Israel-Hamas war.
Fighting between Israeli forces and Palestinian militants outside Gaza’s largest hospital has prompted thousands of people to flee from the sprawling medical facility, but hundreds of patients and others displaced by the war remained inside, health officials said Monday.
Converge [CNVRG 8.77 ?0.3%; 41% avgVol] [link] reported a Q3 net income of ?2.1 billion, down 3% y/y, and a 9M net income of ?6.4 billion, up 4% y/y. CNVRG said that its 9M performance was driven by a 7.2% y/y increase in consolidated revenues to ?26.2 billion, thanks in part to a net increase of 170,925 subscribers and a 5.2% increase in residential revenues. The company added 78,623 subscribers in Q3. CNVRG’s subscriber gains in 2023 have pushed its sub count up over the two million mark to 2,048,286. MB BOTTOM-LINE: It’s no secret that CNVRG’s subscriber acquisition rate is in freefall; the company increased its sub count by 23% from November 2021 to November 2022, but increased its sub count by only 10% from November 2022 to November 2023. That’s a problem in its own right, but it’s compounded by the continued erosion of consolidated monthly residential ARPU (average revenue per user), which fell 5% from ?1,261/month to ?1,196/month in 9M/23. On a proportional basis, fewer subscribers are signing up and the ones that do sign up are choosing cheaper plans that reduce CNVRG’s monthly take. The only silver lining (to me) is the enterprise segment, which is still tiny in comparison to the residential side (?3.8 billion in revenue for enterprise, compared to ?22.4 billion for residential), but which also grew 21% y/y. CNVRG’s SME customer count grew 32% y/y. As good as that result is, though, it will be nothing if CNVRG is not able to juice its residential business. The CNVRG story relies on residential subscribers to be compelling.