Lingering United States recession fears trigger bloodbath
Lingering United States recession fears trigger bloodbathThis undated file photo shows the Philippine Stock Exchange building in Taguig City. MANILA, Philippines — The local market opened the week reeling from prevailing fears of recession surrounding the United States. A huge 2.58 percent or 170.57-point plunge greeted the Philippine Stock Exchange index to start the week at 6,434.73. The broader All Shares index likewise plummeted by 2.24 percent or 80.43 points to close the session at 3,516.47. “Philippine shares fell back to the 6,400 territory as global recession fears surrounding the US made investors worrisome of a hard landing,” Luis Limlingan of Regina Capital said.
Source:Philippine Star
August 06, 2024 11:02 UTC
PSE to make changes in index composition
PSE to make changes in index compositionNo additions or removals will be made in the composition of the 30-member Philippine Stock Exchange index as well as that of the PSE dividend yield index and the holding firms index. No additions or removals will be made in the composition of the 30-member Philippine Stock Exchange index as well as that of the PSE dividend yield index and the holding firms index. The PSE said all changes to the PSE indices will take effect on Aug. 12. The PSE said the review of the composition of the indices was based on the policy on index management. It said relevant financial criteria as well as eligibility for early inclusion are also considered in the index review.
Source:Philippine Star
August 06, 2024 07:08 UTC
Senators call for improved toll road services before rate hike
MANILA, Philippines — The Toll Regulatory Board (TRB) should compel private operators of the country’s toll roads to resolve various problems affecting motorists before they are allowed to raise fees, two senators said on Monday. ADVERTISEMENTTulfo, the new chair of the Senate public services committee, said the problems in the cashless payment schemes of the toll operators had contributed to congestion on expressways and nearby communities. I’m very dead serious,” Tulfo told TRB officials. “They (toll operators) should be ashamed. Alvin Carullo, TRB executive director, admitted that toll road operators had “failed” to satisfy the state regulator’s requirement for implementing the contactless payment scheme.
Source:Philippine Daily Inquirer
August 06, 2024 00:15 UTC
Gov’t unions unhappy with promised pay hike
MANILA, Philippines — A four-year tranche salary increase for government workers that takes effect this year will only result in a daily wage hike of P24 during the first phase, according to unions of government employees. Based on their computation, the first phase of the salary increase would mean an additional P530 a month for Salary Grade 1 Step 1 workers. When divided into 22 working days, this would mean a daily increase of P24, not enough for a kilo of rice. “We are calling on our fellow government workers to unite and continue the fight for a better and more livable salary for everyone,” the groups said. —Dempsey Reyes
Source:Philippine Daily Inquirer
August 05, 2024 23:56 UTC
Senate adds new members to committees
Senate adds new members to committeesSenator Francis Tolentino moves to introduce new members in different Senate committees on August 5, 2024. MANILA, Philippines — New members were introduced to various Senate committees on Monday. The Senate had a major shakeup in May when Sen. Juan Miguel Zubiri stepped down as Senate President, with Sen. Francis Escudero taking his place. During the Senate’s Plenary Session on Monday, Senate Majority Leader Francis Tolentino moved for new members to join several committees, with Sen. Loren Legarda seven committees. “I move for the nomination and election of the members of the various permanent committees,” Tolentino said.
Source:Philippine Star
August 05, 2024 20:32 UTC
Covid rearing ugly head in care clusters
If individuals pay better attention to hygiene and take personal responsibility, he said, the benefits may be better than chasing vaccines targeting new variants. Meanwhile, the Centre for Health Protection is offering a 15-valent pneumococcal conjugate vaccine in its vaccination programs, replacing the current 13-valent vaccine, which covers fewer kinds of pneumococcal serotypes. The CHP said that children currently receiving PCV13 can switch to PCV15 for their next dose directly. As such, those elderly who have received PCV13 may not necessarily need the PCV15 again, as the 23vPPV can extend protection to other serotypes. Lam also highlighted that high-risk individuals who are not vaccinated are at risk of complications, including otitis media, pneumonia and meningitis.
Source:The Standard
August 05, 2024 20:30 UTC
So-Young to Report Second Quarter 2024 Financial Results on August 23, 2024
BEIJING, Aug. 5, 2024 /PRNewswire/ -- So-Young International Inc. (NASDAQ: SY) ("So-Young" or the "Company"), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced that it will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 23, 2024. So-Young's management will hold an earnings conference call on Friday, August 23, 2024, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time). The Company presents users with reliable information through offering high quality and trustworthy content together with a multitude of social functions on its platform, as well as by curating medical aesthetic service providers that are carefully selected and vetted. Leveraging So-Young's strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market. For more information, please contact:AdvertisementSo-YoungInvestor RelationsMs. Mona QiaoPhone: +86-10-8790-2012AdvertisementE-mail: [email protected]ChristensenIn ChinaMs. Dee WangPhone: +86-10-5900-1548E-mail: [email protected]In USMs. Linda BergkampPhone: +1-480-614-3004Email: [email protected]
Source:Manila Times
August 05, 2024 15:20 UTC
NetEase to Report Second Quarter 2024 Financial Results on August 22
HANGZHOU, China, Aug. 5, 2024 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced that it will report financial results for the 2024 second quarter on Thursday, August 22, 2024, before the open of the U.S. markets. The earnings teleconference call with simultaneous webcast will take place at 8:00 a.m. Eastern Time on Thursday, August 22, 2024 (Beijing/Hong Kong Time: 8:00 p.m., Thursday, August 22, 2024). NetEase's management will be on the call to discuss the quarterly results and answer questions. The replay will be available through August 29, 2024. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world.
Source:Manila Times
August 05, 2024 14:50 UTC
BPO worker went missing
ADVERTISEMENT“Nagwo-work po siya sa BPO (business process outsourcing) company sa Makati at ang last message niya po sa amin ay Wednesday, July 24,” she said. “Binaha yung area namin sa San Mateo, Rizal kaya di siya umuwi. Ang akala ng parents ko ay nasa office siya yun pala hindi na siya nagre-report sa office since July 25,” she added. (Our area in San Mateo got flooded, so he could not go home. ADVERTISEMENTAccording to Joy, they had already reported this to San Mateo, Rizal Police Station, and Makati Police Station.
Source:Philippine Daily Inquirer
August 05, 2024 09:34 UTC
Traffic accident death toll down amid crackdowns
Adelyn LauAlmost 400 people lost their lives or were seriously injured in traffic accidents in the first half, police said. Officers handled 363 fatal and serious traffic accidents that saw 341 people suffering serious injuries and 51 losing their lives. The rest who died were 18 drivers, nine passengers and seven cyclists. Four of the cyclist deaths did not involve other road users, and six of the cyclists weren't wearing helmets. Officers plan a new round of enforcement operations in the third quarter to combat distracted driving and reduce bicycle accidents.
Source:The Standard
August 04, 2024 19:48 UTC
Pronouns and parodies
Pronouns and parodiesSome days, I swear, when I open my Facebook feed, I’m tempted to immediately switch it off, drowning in a flood of vexatious opinion certain to trigger my worst reflexes. Some will call this silly wokeness, but in UP, we take our students’ preferred pronouns and names seriously as a sign of respect for the person. Staff don’t sit for a chummy chat with customers. Some of them may be hypocrites, but I’m sure many or most aren’t – and there are hypocrites as well (and worse) among apostates and non-believers. Even if you later changed your mind after listening to all the learned explanations (to some, I’m sure, excuses), the fact is, you saw something you didn’t like.
Source:Philippine Star
August 04, 2024 18:36 UTC
51 killed in traffic accidents in H1 2024: police
The number of deaths and serious injuries from traffic accidents in the first half of 2024 decreased compared to last year. However, the number of fatalities involving cyclists has risen. Police recorded 363 fatal and serious injury traffic accidents involving 392 people, down 42 percent from the same period last year. Among the 392 casualties, 341 were seriously injured and 51 were killed, including 18 drivers, nine passengers, seven cyclists, and 17 pedestrians. The fatal traffic accidents involved 17 trucks, 17 private cars, nine taxis and eight motorcycles.
Source:The Standard
August 04, 2024 18:04 UTC
First cut is the deepest
First cut is the deepestFinancial markets remained volatile last week as the tech selloff spread to currencies, particularly the Japanese yen. These moves were triggered by a weaker-than-expected June US CPI report that fueled expectations of an imminent Federal Reserve rate cut. As we wrote in a previous article, “Expectations of the Fed’s first cut are having the deepest, most significant effect on global capital markets. They are driving substantial moves in the US dollar and significantly impacting currencies, bonds and equity markets.” (see The cut is near, July 15). This combination of the BOJ’s rate hike and the possibility of an imminent, substantial Fed rate cut has further propelled yen’s rise.
Source:Philippine Star
August 04, 2024 18:00 UTC
BSP enhances settlement of digital payments
BSP enhances settlement of digital paymentsIn a circular signed by BSP Governor Eli Remolona Jr. on June 27, the Monetary Board approved the changes to the guidelines on the settlement of electronic payments under the National Retail Payment System (NRPS) framework. MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has approved amended guidelines to further enhance the settlement of digital payments, ensuring the integrity and efficiency of the country’s payment system. “This ensures that all enhancements to the settlement guidelines of ACHs are thoroughly reviewed and approved by the BSP prior to implementation,” it said. On the other hand, the BSP, Philippine Payments Management Inc. (PPMI) and the PESONet steering committee activated the third settlement cycle for PESONet transactions on July 8. The share of digital payments to total retail transactions jumped to 53 percent last year from 42 percent in 2022.
Source:Philippine Star
August 04, 2024 00:56 UTC
Fintechs urged to serve more women entrepreneurs
Fintechs urged to serve more women entrepreneursThis was the recommendation of the multilateral lender in a report that looked at challenges faced by women entrepreneurs in Indonesia, the Philippines and Vietnam. This was the recommendation of the multilateral lender in a report that looked at challenges faced by women entrepreneurs in Indonesia, the Philippines and Vietnam. While digital lenders have several products that can be useful for WMSMEs, the ADB said most fintechs do not focus specifically on women. It said many fintech firms also need to track the number of women they serve. “To adequately serve women, financial service providers must first understand women’s financial service needs and then make appropriate adjustments to their products and services,” the ADB said.
Source:Philippine Star
August 03, 2024 23:28 UTC