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HONG KONG, China — Asian markets fell Tuesday as traders were spooked by signs of weakness in the US economy, even as the data boosted hopes the Federal Reserve will cut interest rates this year.
MANILA, Philippines — The newly introduced Win Girls, composed of Inday Fatima, Queenay, and Ana Ramsey, were thrilled to be joining Willie Revillame as his co-hosts in the forthcoming show on TV5.
MANILA, Philippines — With nearly 3,000 associates under the Philippines’ largest hotel operator, Megaworld Hotels & Resorts, signs off on a partnership with AIA Vitality for an extended group life insurance protection policy for the benefit of the hotel group’s employees.
MANILA, Philippines — Good news: coffee consumption in the Philippines is in meteoric rise, a coffee expert told Philstar.com.
GREENWICH, United States — Joe Biden blasted Donald Trump on Monday as a "convicted felon" who is seeking the US presidency for the first time in history, in a dramatic escalation of his attacks on his rival in November's election.
Bright Kindle Resources [BKR 1.37, up 5.4%; 849% avgVol] [link] had its suspension lifted at 10:30 a.m. yesterday by the PSE after the company provided a satisfactory amount of additional information on its P5 billion acquisition of Strong Built Mining (SBM). BKR is owned by Martin Romauldez, the current Speaker of the House of Representatives, and the cousin of the current President, Ferdinand Marcos. The additional info provided by BKR indicated that SBM holds a Mineral Production Sharing Agreement over 7,411 hectares of land containing “economically viable deposits of magnetite concentrate”, and that SBM “currently operates approximately 30% of its tenement area”. BKR’s interest is in monetizing the remaining 70% of the tenement area. BKR referred to this as a “clear opportunity for potential growth.” BKR said that there might be possible mining synergies between SMB and another of BKR’s investments, Marcventures Holdings [MARC 0.73 unch; 14% avgVol].
Megaworld [MEG 1.81, up 0.6%; 18% avgVol] [link] disclosed that it sold 79.7 million shares of its REIT subsidiary, MREIT [MREIT 12.58, up 0.2%; 2586% avgVol], in a private placement deal that raised P980 million for Andrew Tan’s real estate development company. The average price of the transaction was P12.30/share, which represented a 2% discount to MREIT’s market price. The sale pushed another 1.5% of MREIT’s outstanding shares into the public float, which increased to 42.98%. The minimum public float for REITs is 33.33%, giving MREIT approximately P3.38 billion in share-swap value that it can spend on acquisitions before needing to use debt or increase its public float.
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".