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According to PSA, the digital economy of the Philippines in 2023 amounted to P2.05 trillion, contributing 8.4% to the country's Gross Domestic Product. This resulted in 7.7% growth from the P1.90 trillion Gross Value Added of the digital economy in 2022.
The Securities and Exchange Commission (SEC) is opening more payment channels through a partnership with online payment platform Payment Innovation, Inc., (PayCools PH).
Tech giant Google announced that the shopping links and shopping anchor labs are now a permanent part of Auto Ads under the new name "Ad Intents."
GCash, the Philippines’ top finance app and largest cashless ecosystem, recorded nearly half a million user base for GStocks PH as it ramps up the reach of its stock investment platform.
Filinvest Land Inc. (FLI) and global co-working space provider KMC Community Inc. (KMC) have announced the launch of their joint venture, Our Space Solutions Inc. (OSSI). The partnership represents a significant advancement in meeting the Philippines' rising need for co-working spaces. The first OSSI locations are situated in Axis Tower One, a prime office building within Filinvest City's Northgate Cyberzone.
Consunji Group and CEMEX Asia B.V. Signed an Agreement to Acquire Cemex Asian South East Corporation4/26/2024 DMCI Holdings, Inc. (DMC), Dacon Corporation, and Semirara Mining and Power Corporation (SCC) have inked a share purchase agreement with CEMEX Asia B.V. to buy the whole 42,140,266 common shares of Cemex Asian South East Corporation (CASEC).
Metro Retail Stores Group, Inc. (MRSGI) recently made progress in its Visayas development plans by breaking ground on four new supermarkets in Cebu and Leyte, paving the way for more accessibility and convenience in these regions.
Robinsons Retail Holdings, Inc.'s consolidated net sales increased by 2.9% to P45.9 billion in the first quarter of 2024. This was driven by increased sales from new stores and maintained demand in the food retail and drugstore segments, which accounted for more than 80% of the total company. Due to an extremely high base over the last two years, blended same-store sales growth (SSSG) has continued to normalize at 0.9%. Furthermore, the timing of the Holy Week holidays impacted revenue for the quarter, since several of the company's non-essential locations or discretionary formats were closed for two days in March 2024.
Philex Mining Corporation (Philex), one of Southeast Asia's oldest and largest gold and copper miners, achieved P105 million in core net income and P295 million in EBITDA for the first quarter of 2024, compared to P388 million in core net income and P635 million in EBITDA in Q12023.
At Filinvest Development Corporation's (FDC) annual stockholders' meeting, the conglomerate expressed confidence in the growth trajectory of its core businesses, reporting a robust 58% increase in both Earnings Per Share (EPS) and Dividends Per Share (DPS), in line with its net income increase in 2023. This demonstrates FDC's commitment to providing improved value to shareholders by efficiently turning profitability into higher earnings per share while driving quicker growth over the next five years.
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BLOGGER Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. Follow me on FACEBOOK x PLACE YOUR ADS HERE PLACE YOUR ADS HERE Categories
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