00:53.6
On tap today, consumer inflation expectations.
00:59.7
Now here are some stocks to watch out for.
01:02.7
We're monitoring shares of shipping giant Maersk amid a sharp increase in shipping rates from Asia to Europe,
01:09.5
which have reportedly skyrocketed by nearly 400% due to the Red Sea crisis.
01:16.3
Maersk's share surged 7% on the news.
01:19.8
Also in focus, shares of Tencent Music Entertainment Group,
01:23.6
after the Chinese firm reported a revenue beat for the first quarter of 2024.
01:29.9
New York-listed shares of Tencent Music are up 3% in pre-market trading.
01:34.7
We are also keeping a close watch on shares of Google parent Alphabet.
01:39.6
That's amid reports Apple is nearing a deal to integrate open AI technology into the iPhone.
01:46.2
Alphabet shares tumbled 2% before the bell.
01:50.9
Meanwhile, Asian markets see a mixed start of the week.
01:53.6
It's a week ahead of key economic reports from the U.S. and China.
01:57.4
Beijing is set to release retail sales and industrial output data this week,
02:01.7
which will test optimism about a sustained recovery in the world's second-largest economy.
02:07.6
Meanwhile, sentiment on Monday got a boost after Chinese authorities said
02:11.4
it will sell 1 trillion yuan or 140 billion U.S. dollars of long-term special treasury bonds
02:19.1
that to stimulate domestic spending.
02:21.8
Taking a look at the closing numbers,
02:23.6
the Hong Kong-Hang Seng Index ended 0.8% higher while the Shanghai Composite fell 0.5%.
02:30.9
Here at home, Philippine shares picked up gains ahead of the BSP's meeting this week
02:35.9
with the main index bouncing back to the 6,600 level.
02:42.1
The BSE is currently stuck within the 6,400 to 6,800 range
02:49.5
with some minor support and resistances at 6,500.
02:53.6
The BSE is currently stuck within the 6,700 level.
03:03.5
The BSE is currently stuck within the 6,400 to 6,700 range with some minor support and resistances at 6,900 level.
03:07.6
The BSE is currently stuck within the 6,400 to 6,700 level.
03:08.4
The BSE is currently stuck within the 6,700 level.
03:08.6
A notable stock movement in the region,
03:10.5
SoftBank saw its shares jump 1.5% Monday.
03:14.2
That's after the Japanese tech giant reported that it swung back to a quarterly profit
03:19.0
as it focused on artificial intelligence to fuel its return to growth,
03:23.6
The Philippine Stock Exchange welcomed today, Monday, its first initial public offering of the year.
03:31.0
Oceano Gold Philippines rang the ceremonial bell this morning at the former trading floor of the PSE in Makati.
03:38.0
OGP is the first mining company to list at the local bourse in over a decade.
03:44.3
The Philippine subsidiary of the company based in Canada and Australia is the known operator of the Didipio mine in Nueva Vizcaya province.
03:53.0
Despite the positive close of the local bourse, OGP saw its shares plunging 6% to close below its IPO price of 13 pesos and 33 centavos.
04:04.6
Mico Sayo of Tupitero.com believes OGP shares prices will have to drop to 11 pesos apiece if it wants to be at par with the valuations of its mining peers, Phylex and Apex.
04:19.5
There's actually just two reasons.
04:23.0
There's a gold and copper place in the market that the market has been trading in the last couple of days in spite of the strong performance of gold in the world market.
04:36.1
And that's Phylex and Apex.
04:39.4
So at least we have another company that traders can trade and invest in.
04:49.4
Other corporate news.
04:51.1
The Lushotan Group saw a slight rise.
04:53.0
at its first quarter bottom line to 6.42 billion pesos.
04:57.7
Its banking arm, PNB, brought in nearly half of the group's earnings.
05:02.2
LT's tobacco business contributed 41% of profit despite seeing a 13% drop in its net income due to lower volumes brought by a rise in illicit incidents and the proliferation of vaping products.
05:17.2
Meanwhile, ICTSI is building a new international container terminal in the town of Bawan.
05:23.0
In Batangas province, the price tag is staggering $800 million.
05:28.2
That's 46 billion pesos.
05:29.9
The Bawan facility will boast of a 20-foot equivalent unit capacity of over 2 million.
05:36.2
Construction begins next year with target completion in 2027.
05:42.8
The Figaro Coffee Group now focused on expanding its pizza business rather than its namesake coffee brand.
05:49.5
This is as its chairman, Justin View, says,
05:53.0
Angel's Pizza now contributes three-quarters of the company's sales.
05:57.7
View says they hope to make it the Philippines' number one pizza chain in five years.
06:05.7
Coffee is a very competitive industry and a very low barrier to entry.
06:12.2
Anyone can just open a coffee shop and people are actually, you're seeing people shying away from large coffee brands.
06:23.2
Bell Corporation formally applies for the voluntary delisting of its unit premium leisure.
06:29.5
Last month, shareholders of the C family's gaming arm approved a plan to delist through a tender offer of 85 centavos per share.
06:39.0
Other news, the Philippine government plans to intensify patrols in the West Philippine Sea
06:43.7
following reports of alleged Chinese reclamation activities.
06:47.3
The National Security Council says it directed relevant government agencies to boost monitoring
06:53.0
activities in the area.
06:55.2
The Coast Guard earlier said crushed
06:57.1
corals were discovered dumped
07:00.9
It warned the dumping may be a prelude
07:03.1
to the emergence of an artificial island.
07:07.8
Wala pong magbabantay dyan,
07:09.7
kundi tayo. It is our
07:11.1
responsibility under
07:12.9
international law na bantayan at
07:15.0
siguruhin na yung environment dyan
07:17.1
at hindi nasisira at
07:19.0
hindi nagkakaroon ng mga
07:20.7
reclamation activities.
07:23.3
Beijing meanwhile urged
07:24.9
Manila to stop misleading the
07:26.7
international community with its claims.
07:31.1
The accusations made
07:33.0
by the Philippine side against the Chinese
07:35.0
side are groundless and purely
07:37.1
fabricated. In recent
07:38.9
times, the Philippine side has
07:40.8
repeatedly spread rumors and deliberately
07:43.2
smeared the Chinese side
07:44.8
in a futile attempt to mislead
07:47.0
the international community.
07:49.0
We urge the Philippine side to stop
07:50.8
making irresponsible remarks
07:52.5
face up to the facts and
07:54.7
return to the right track of resolving
07:56.7
sea-related differences through
07:58.8
negotiations and consultations
08:01.0
as soon as possible.
08:04.8
Meanwhile, a former Supreme Court
08:06.4
Associate Justice urges the Philippine government
08:08.5
to file a case against China's suspected
08:10.7
island building. Antonio Carpio
08:12.8
warns failure to stop China's
08:14.6
actions would make it harder for the
08:16.5
Philippines to explore resources
08:18.4
in Reed Bank. Carpio
08:20.6
believes the coral dumping in Escoda Sho
08:22.5
could lead to the construction
08:24.1
of a Chinese outpost near
08:26.5
Reed Bank, which is believed to be
08:28.5
rich in oil and gas deposits.
08:31.4
Carpio adds Manila's trade
08:32.6
ties with Beijing can be separated
08:34.5
from their maritime row.
08:38.3
Those Filipinos who said
08:40.6
that our trade will suffer
08:42.6
haven't seen what happened
08:44.7
in Vietnam and Malaysia.
08:46.5
Because actually, we import
08:48.5
more from China than we export.
08:50.7
We invest more in China
08:52.5
than China invests here.
08:54.6
Because we have our Taipans
08:56.1
investing heavily in China.
08:58.6
So if there is a cut in trade
09:00.7
or economic relations, it will be
09:02.6
China that will suffer most.
09:06.3
We're taking a quick break. Up next,
09:08.4
fast fashion giant Xi'an reportedly
09:10.6
preparing for a London listing.
09:22.5
Welcome back. The House of Representatives
09:34.8
begins plenary debates on the bill
09:36.8
seeking to amend the rice
09:38.3
tarification law. Vivian Gude joins us
09:40.6
on the line for the details. Viv, go ahead.
09:44.6
seeking to amend the rice tarification
09:46.6
law has reached the plenary
09:48.6
at the House of Representatives.
09:50.6
House Committee on Agriculture and Food,
09:52.4
Chairperson Quezon, First District
09:54.6
Representative Mark Enverga,
09:56.5
and Committee Vice Chairperson
09:58.1
Nueva Ecija, First District Representative
10:00.1
Micaela Angeles, one thing
10:02.4
sponsored House Bill
10:06.4
the plenary this afternoon.
10:08.5
It includes the proposal to restore
10:10.6
the National Food Authority's function
10:12.5
of selling more affordable rice
10:14.6
to retail outlets during
10:16.3
food security emergency situations.
10:19.0
This targets to stabilize
10:22.4
rest supply issues. Food security
10:24.7
emergency includes shortage
10:26.4
in rice supply, sustained
10:28.3
increase in the price of rice,
10:30.5
or extraordinary increase in
10:32.4
rice prices. The bill also
10:34.4
seeks to increase the annual
10:36.4
appropriation for the Rice
10:38.3
Competitiveness Enhancement Fund
10:40.2
to 15 billion pesos
10:42.1
from the current 10 billion pesos
10:46.0
years. During her interpellation,
10:48.6
Gabriela, Partylist Representative
10:50.3
Arlene Rosas, raised the
10:52.3
failure of the RTL
10:53.9
to fulfill its promise to lower
10:56.1
rice prices and move towards
10:58.5
rice self-sufficiency.
11:00.6
But Enverga said the measure helped
11:02.2
increase rice production. It is
11:04.3
just that the gains were offset
11:06.1
by the increasing population.
11:08.8
After around four hours of
11:10.3
interpolation, the lower chamber
11:12.1
terminated the period of sponsorship
11:13.9
and debate for the bill
11:15.7
this evening. It expects to pass
11:18.2
the measure on third and final reading
11:19.9
before Congress goes on sine diego.
11:24.2
Enverga, meanwhile, plans to talk to his
11:26.2
counterpart at the Senate, Senate
11:28.2
Committee on Agriculture and Food Chairperson
11:30.3
Senator Cynthia Villar
11:32.1
to discuss Senators' concerns
11:34.0
regarding the proposed RTL amendment.
11:36.9
Villar and some Senators
11:38.2
earlier raised concerns regarding
11:40.3
the possibility of corruption at
11:42.3
the NFA, but Enverga gave
11:44.3
assurances that the bill includes
11:46.2
stringent safeguard measures to prevent
11:48.3
it. Ron, back to you.
11:50.3
Vivian Gulia with that story. Thanks,
11:53.6
On to more news, fast fashion giant
11:55.6
Xi'an is stepping up preparations for
11:57.6
a London listing. Sources told
11:59.8
Reuters Xi'an plans to update China
12:01.7
securities regulator on the change
12:03.8
of its IPO venue from the
12:05.8
U.S. to the U.K. as soon as
12:07.9
this month. The possible listing
12:09.7
at the London Stock Exchange comes
12:11.5
after the Singapore-based company faced
12:13.8
regulatory hurdles and
12:15.8
pushback from U.S. lawmakers
12:17.8
in its attempt to list in New York.
12:20.4
The brand, which sells
12:21.9
cheap fashion in more than
12:23.3
150 countries, does not
12:25.8
own or operate any
12:27.6
manufacturing facility.
12:29.1
It instead relies on third-party
12:31.2
manufacturers, mainly in China.
12:34.2
The company was valued
12:35.2
at $66 billion in a
12:37.1
fundraising last year. That's according
12:41.6
Microsoft investing
12:42.7
€4 billion or $4.3 billion
12:45.3
U.S. dollars in France.
12:47.1
Microsoft President Brad Smith
12:49.0
says much of the investment would focus
12:51.2
on the artificial intelligence sector.
12:54.7
will also set up a data center
12:57.3
in the French city of Malouse.
12:59.6
The announcement comes as another
13:01.0
tech giant, Amazon, on Sunday said
13:03.5
it would invest $1.3 billion
13:05.5
in the European country,
13:09.2
permanent jobs. The investment
13:11.4
will also focus on the AI
13:13.4
sector, as well as expanding
13:15.4
Amazon's logistics network
13:19.3
The Vatican facing
13:21.2
an unprecedented labor dispute.
13:23.6
Forty-nine Vatican museum
13:25.4
workers have sent a petition
13:27.1
to the Governatorato,
13:29.3
the body that administers the Vatican
13:31.0
City-State, over alleged
13:32.8
unfair and poor working conditions.
13:35.9
Among their complaints,
13:37.4
extra hours paid at lower rates
13:39.1
and insufficient health and safety
13:41.2
provisions. Their petition
13:43.1
represents the first formal step
13:45.4
in a mandatory conciliation
13:47.3
process under Vatican law.
13:49.7
If the process fails,
13:51.2
the case can be brought
13:52.7
to a Vatican court.
13:57.3
projected to remain the world's
13:59.2
largest rice importer in 2025.
14:02.2
The United States'
14:03.1
Department of Agriculture expects
14:05.0
the country's total rice imports
14:08.7
million metric tons next
14:11.3
year. This is 100,000
14:13.6
metric tons higher
14:14.8
than its estimate for 2024.
14:19.2
cites for its forecast the
14:21.0
continued increase in rice consumption
14:23.0
in the Philippines, driven by
14:25.1
population and tourism.
14:27.7
If the projection materializes,
14:29.3
it would be the third consecutive year
14:31.4
the country would import the most
14:33.4
rice in the global market.
14:35.8
The Philippines is the seventh largest
14:37.6
rice producer in the world,
14:39.3
behind Thailand and Vietnam.
14:41.7
Rice imports account for about a fifth
14:43.4
of the country's annual supply,
14:45.4
based on government data.
14:48.0
Real estate consultant
14:49.6
Colliers lays out
14:51.0
some recommendations on improving
14:52.7
the Philippines' property sector
14:54.5
after the economy logged a slightly
14:56.6
slower pace of expansion than
14:58.5
expected. Colliers said the
15:00.7
pre-selling condominium market in
15:02.5
Metro Manila continues to see tepid
15:04.7
launches and take-up due to
15:06.9
elevated mortgage rates
15:08.5
and lengthened remaining inventory
15:10.7
life. That's why Colliers'
15:12.6
Research Director Joey Bundog says
15:14.9
property stakeholders
15:16.9
need to challenge the status quo
15:18.7
because simply building office
15:21.0
or residential towers is not
15:22.6
enough. He explains developers
15:24.7
need to be more strategic with
15:26.6
their land banking and development initiatives
15:28.6
to stand out. As for
15:30.7
office spaces, Colliers says net
15:32.6
take-up in Metro Manila during the first quarter
15:36.2
compared to the same period in
15:38.3
2023, with stable demand
15:40.8
from traditional and outsourcing
15:42.9
companies. The firm
15:44.6
also sees growth in office
15:46.5
hubs outside the metro.
15:51.0
finance firm Home Credit planning
15:52.7
to expand to more provinces in the
15:54.8
Philippines. This is as it notes,
15:56.8
more Filipinos are choosing installment
15:58.6
purchases. Jackie Pascual with
16:05.0
company Home Credit Philippines
16:06.7
is eyeing further growth this year
16:08.9
after hitting 10 million customers
16:12.6
10 years after it started its operations.
16:15.4
It says the company has
16:16.9
disbursed loans worth
16:18.3
320 billion pesos
16:21.0
since 2013, as more
16:23.1
Filipinos opt for installment
16:25.4
purchases. Home Credit
16:27.4
partners with shops, mostly
16:29.4
appliance and computer stores
16:31.4
where customers may avail
16:33.2
to pay installment through the company.
16:35.8
Mababa talaga yung penetration
16:37.1
of course ng credit card and even
16:39.0
of course formal banks,
16:41.2
formal bank accounts,
16:43.1
medyo hindi rin ganun kaganda yung penetration
16:44.9
natin sa Philippines. Kailangan pa rin talaga
16:49.2
ang access to credit,
16:51.0
especially if you're buying mga items
16:53.4
more than 5,000, 10,000
16:55.4
pesos. Mahirap talaga maglabas ng isang
16:57.2
bagsakan. In 2023
16:58.9
alone, 60 billion pesos of goods
17:01.1
were sold with the help of the company
17:02.7
and half of the products sold are
17:05.2
mobile phones, a favorite
17:07.2
item among Filipinos.
17:09.3
But since March this year,
17:11.5
they have seen a significant growth
17:13.3
in the sale of air conditioning
17:15.5
units. That's over
17:17.0
1,000 units sold per
17:19.3
day. This was the time when the,
17:21.0
uh, stores were running out of air
17:24.8
happy to be part of making
17:27.1
it affordable for
17:29.0
those who can pay for
17:31.0
the loan and just that they can, they can
17:33.1
feel cool even in
17:35.1
the hot summer in the Philippines.
17:37.2
Aside from air con, the company says
17:39.1
Filipinos use home credit to purchase
17:41.3
televisions, refrigerators
17:45.0
they say not all lenders
17:46.9
get easily approved. We are
17:49.0
not supporting people.
17:51.0
In buying things that they cannot afford, it needs
17:53.0
to be responsible lending. Non-performing
17:55.4
loans of the company, they say, is below
17:57.1
10%. They now plan
17:59.0
to expand to more provinces outside
18:00.9
Metro Manila, where demand for
18:02.8
financing is growing.
18:05.0
Jackie Pascual, ABS-CBN News.
18:09.2
vocational training for senior
18:11.0
high school students will soon be included
18:13.1
in the education curriculum
18:14.6
in a bid to address job skills mismatch.
18:17.6
Joyce Balancho reports.
18:21.0
All the four strands of the senior
18:22.9
high school program in public schools
18:25.0
will soon incorporate the technical and
18:26.9
vocational education and training or
18:29.0
TVET in its subjects. This
18:31.0
follows the signing of a joint memorandum
18:33.0
circular by the Department of Education,
18:35.7
Commission on Higher Education,
18:37.7
Technical Education and Skills
18:39.2
Development Authority, and the
18:41.0
Department of Labor and Employment on Friday.
18:43.5
This aims to equip learners
18:45.2
with industry-relevant skills
18:47.3
and knowledge necessary for
18:49.0
their workforce readiness and employment.
18:51.0
The current strands of senior
18:53.3
high school are the general
18:55.1
academic, humanities and social
18:57.0
sciences, science, technology,
18:59.6
engineering and mathematics,
19:01.5
and lastly, accountancy,
19:03.6
business and management.
19:05.1
Across all tracks, embed
19:07.1
yan. So whether you're in
19:09.1
the academic track, not necessarily
19:11.1
textbook, pwede sa academic track,
19:13.4
at least meron sila, equip na sila
19:15.4
ng skills, they can take
19:17.1
the certification, mas magiging attractive
19:19.1
sila for employers.
19:21.0
currently revising the senior high school
19:23.0
curriculum, which is expected to be
19:25.0
piloted in schools in academic year
19:31.1
additional adjustments will not
19:33.1
delay the implementation of the new
19:34.9
curriculum. So napakaganda ng timing
19:37.2
na ito, dahil since we are now
19:39.3
reviewing the senior high school curriculum,
19:41.0
isasabay na po. DEPED is also coordinating
19:43.4
with DOLE to assess the industry
19:45.0
demands to match the skills needed
19:47.3
by the K-12 graduates.
19:49.4
TESTA, for its part,
19:51.0
commits to help DEPED in the curriculum
19:53.1
change. We have the bookkeeping
19:55.1
NC3, then we also have
19:57.4
yung customer services
19:59.0
and customer care, kasama
20:01.1
din po doon. Tinitingnan din po natin
20:03.2
paano mailagay yung mga bread and pastry
20:05.2
production natin, entrepreneurship,
20:08.0
ang dami ho, kasi tinitingnan
20:09.4
natin yung different sectors
20:13.2
siya mailagay. Senator
20:15.1
Sherwin Gatchalian, the chairperson of
20:17.1
Senate Committee on Basic Education,
20:19.4
lauds the revisions in his
20:21.0
senior high school curriculum. He said
20:23.3
the number of Filipinos who were
20:25.1
dissatisfied with the K-12 program
20:27.4
continued to increase.
20:29.5
Based on a series of surveys,
20:31.4
his team had commissioned in
20:35.3
and 2023. He said
20:37.4
respondents didn't see the value
20:39.4
of adding two years in basic education.
20:42.1
We commissioned again
20:47.0
September of 2023,
20:53.2
and dissatisfied, 52%.
20:55.9
Sabi ko, patay na.
20:57.7
More than half of our population
20:59.6
is dissatisfied with K-12.
21:02.4
They're not happy with K-12.
21:04.2
In fact, they hate K-12.
21:05.9
He is also pushing for the passage of a law
21:08.1
which will mandate government
21:09.8
to accept senior high school graduates.
21:12.3
He noted that the current standards
21:14.1
in government are not suited
21:15.6
for K-12 graduates.
21:17.7
Under the proposed bill, the Civil
21:19.7
Service Commission will be taking a stand.
21:21.0
It has to formulate guidelines for the acceptance
21:23.4
of senior high school graduates
21:25.1
in selected positions.
21:27.0
Taasan yung sweldo at bibigyan ng
21:29.1
specific na pwesto
21:30.6
ang mga senior high school sa gobyerno
21:33.1
kung pumasa sila, of course, ng
21:35.0
interview, ng mga assessment,
21:37.7
pero meron ng specific
21:38.9
na trabaho para sa ating
21:41.3
mga senior high school. Limited position, but ito
21:43.3
from local government, from barangay
21:45.3
to local government, all the way to national
21:47.3
government. Meanwhile, senior high school
21:49.0
students who have completed the technical
21:51.0
vocational livelihood track or the TVL
21:53.6
will no longer have to pay for
21:55.2
the assessment and issuance
21:57.2
of national certifications that they
21:59.3
may need as requirements for employment.
22:01.7
This follows the signing of a
22:03.1
joint memorandum circular by the
22:05.2
Department of Education and the
22:07.1
Technical Education and Skills Development
22:09.0
Authority on Friday that aims
22:11.3
to institutionalize the mandatory
22:13.1
assessment of K-12 learners.
22:17.1
assessment ng ating mga
22:19.3
senior high school graduates.
22:21.0
Sa Tibet, pag magkakaroon sila ng
22:22.9
NC-1 or NC-2, libre na po yan.
22:25.6
Ngayon, aside from yung
22:27.0
libreng assessment ng ating mga learners
22:28.8
na wala noon. Teachers will also
22:31.1
be trained to become assessors
22:32.8
while schools will also be accredited
22:35.1
to become assessment centers.
22:37.3
He stressed that securing a
22:39.1
national certificate is a good boost
22:41.3
for potential job seekers.
22:43.6
Pag bumasa sila, makakuha
22:45.2
sila ng NC-1, NC-2, automatic yan.
22:48.8
pagkahanap ng trabaho.
22:51.0
To support the program, the national
22:53.0
government has allotted
22:54.4
P538 million pesos in the
22:57.0
2024 national budget.
22:59.3
Joyce Balancho, ABS-CBN News.
23:03.9
And before we go,
23:05.1
here's what we can expect on Market Edge
23:06.8
tomorrow at 9 a.m. Stanley Palisada
23:08.9
will be talking to the Vice President of
23:10.9
Trend Micro, John Clay,
23:13.1
about their efforts to disrupt a mega
23:14.9
ransomware group.
23:17.0
Eagle Equities President Joey Rojas
23:18.9
will also be on the show to give his market
23:20.8
insights. The show will also have
23:23.0
the President of Oceana Gold Philippines
23:25.2
Attorney Joanne Adachi
23:28.9
after the country's market debut.
23:32.9
That's your Business Outlook. I'm Ron Kroes.
23:35.4
The world tonight comes your way at the top
23:36.9
of the next hour. Keep it here on
23:50.8
Thank you for watching.
