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HONG KONG, China — Asian markets mostly mirrored positive strides on Wall Street in early trade Thursday, as easing US consumer inflation buoyed hopes that a big interest rate cut was around the corner and economic growth in Japan outpaced expectations.
MANILA, Philippines — There’s no limit to how high the current US Mega Millions jackpot can grow, but on the other hand, it could be won in this week’s draw on August 16.
MANILA, Philippines – Filipino Olympian EJ Obiena dropped to No. 3 in the world pole vault rankings after barely missing the podium in Paris.
TOKYO, Japan — Japan will lift its week-old "megaquake" warning later Thursday if there is no further major seismic activity, the disaster management minister said.
MANILA, Philippines — Local rock band the Itchyworms is gearing up for its first set of concerts in Canada, which will serve as a reunion and a farewell to some band members.
DITO CME [DITO 1.97, down 0.5%; 61% avgVol] [link] reported a Q2 net loss of P18.1 billion, down 624% y/y from its Q2/23 net loss of P2.5 billion, and down 81% q/q from its Q1/24 net loss of P10.1 billion. The primary driver of DITO’s H1 net loss of P28.2 billion is the P12.4 billion in foreign currency exchange losses that it recognized on its loans, which is up 67% y/y from DITO’s H1/23 forex loss of P7.4 billion. DITO’s H1 interest expense on those loans also increased, up 132% to P9.3 billion. Operationally, DITO reported having 11.3 million subscribers with an average revenue per user (ARPU) of P126/month. H1 revenues were up 54% y/y to P7.6 billion, and DITO narrowed its operating loss by 2% to P6.5 billion. DITO’s H1 EBITDA increased 282% to P0.4 billion, up from H1/23’s negative EBITDA of P0.2 billion. EBITDA excludes forex losses, depreciation, amortization, interest expense, and tax expense.
SP New Energy [SPNEC 1.01, down 1.0%; 90% avgVol] [link] reported a Q2 net income of P182.7 million, up 1,920% y/y from its Q2/23 net loss of P9.8 million, and up 16% q/q from its Q1/24 net income of P157 million. SPNEC’s Q2 and H1 outperformance is due to the income it has earned from the assets injected into the company in 2023. SPNEC is now owned by a subsidiary of Meralco [MER 400.00, up 0.1%; 187% avgVol] and governed by Manny V. Pangilinan. SPNEC’s price is down 24% year-to-date, down 14% over the past year, but is trading 11% up off of its all-time low that it set two months ago.
MANILA, Philippines — Filipino dishes Sinigang and Bulalo are included in the upper half of the "Top 100 Soups in the World" list of online food database TasteAtlas.