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DAVAO – Ralph and Rafella Batican hammered out gripping victories to sweep the 10-12 category titles, while James Rolida and Mavis Espedido emerged victorious in the 8-9 division of the ICTSI JPGT Mindanao Series 2 at South Pacific Golf and Leisure Estates here Wednesday.
HONG KONG, China — The yen rose against the dollar Wednesday after Bank of Japan hiked interest rates for the second time in 17 years, while equity markets in Asia rose on growing hopes for a cut in US borrowing costs.
MANILA, Philippines – “What’s up?”
MANILA, Philippines — Organizers for the 2024 Paris Olympics revealed that performers from the opening ceremony, including Celine Dion and Lady Gaga, did the honorary gig for free.
MANILA, Philippines -- Following her exit from the Paris Olympics, swimmer Kayla Sanchez is striving to be better as she put up a gallant effort in the Games.
MANILA, Philippines – Camille Nolasco had just come from a game with Gilas Pilipinas women in the Pinoyliga Women’s Cup when she arrived at the Gatorade Hoops Center on Sunday to lead Team Buckets over Team Stars in the main event of the SLAM Rising Stars Classic 2024.
MANILA, Philippines — Richard Gomez and Lucy Torres' daughter Juliana has graduated as cum laude from the University of the Philippines (UP).
8990 Holdings [HOUSE 9.37 ?0.4%; 0% avgVol] [link] put out a press release ahead of its AGM to say that FY23 net income was down 10% to P6.9 billion despite a 5% uptick in gross revenues to P22.7 billion. HOUSE said that its revenues were up due to the “strong market reception” to their low-income housing projects, which HOUSE evidenced by revealing a surge in Pag-Ibig housing loan takeouts from P5.96 billion in FY22 to more than double that figure in FY23. HOUSE attributed the drop in net income to “increased finance costs and higher income tax expenses”.MB BOTTOM-LINE: The Pag-Ibig Fund is fantastic for low-income developers, as it provides borrowers with a streamlined application process and gives developers the full purchase price up-front and none of the collection headache that would ordinarily come with in-house financing. In a high interest rate environment, having access to a huge pool of cash (like the Pag-Ibig proceeds from completed sales) makes it cheaper and easier to keep the development ball rolling. It also allows the developer to focus its time and effort on its core competency, which in HOUSE’s case is the sale and delivery of units. While I’m a huge believer in the resiliency and long-term potential of the low-income housing market, HOUSE has been a frustrating stock to watch. It had a great recovery from the COVID crash of 2020 through to Q2/22 when it peaked at around ?14.00/share, but it was a steep fall from those heights in H2/22 and the stock has consistently lost ground in a “sideways and down” pattern since that time.