PSE board member sees 'better' 2019 for stocks | ABS-CBN
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PSE board member sees 'better' 2019 for stocks
PSE board member sees 'better' 2019 for stocks
Michelle Ong,
ABS-CBN News
Published Jan 02, 2019 11:55 AM PHT
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Updated Jan 02, 2019 01:37 PM PHT
MANILA – This year is shaping up to be a "better" one for the stock market, as equities ride on a strengthening peso and easing inflation, an official of the local bourse said Wednesday.
MANILA – This year is shaping up to be a "better" one for the stock market, as equities ride on a strengthening peso and easing inflation, an official of the local bourse said Wednesday.
The Philippine Stock Exchange Index was up 0.39 percent to 7,494.78 at noon on the first trading day of the year. The benchmark could reach the 8,400 level by year-end if corporate earnings grow at an average 8 to 10 percent, said PSE board member and fund manager Wilson Sy.
The Philippine Stock Exchange Index was up 0.39 percent to 7,494.78 at noon on the first trading day of the year. The benchmark could reach the 8,400 level by year-end if corporate earnings grow at an average 8 to 10 percent, said PSE board member and fund manager Wilson Sy.
"We are quite hopeful that we will have a better year this year," Sy told ANC. There could be more initial public offerings if the market rebounds this year, he said.
"We are quite hopeful that we will have a better year this year," Sy told ANC. There could be more initial public offerings if the market rebounds this year, he said.
A new brass bull and a new bell were commissioned for the PSE's new trading floor, which began operating in February last year.
A new brass bull and a new bell were commissioned for the PSE's new trading floor, which began operating in February last year.
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More investment products will help encourage the public to invest, said PSE board member Vivian Yuchengco. Real Estate Investment Trusts or REITs could be launched as early as the first quarter, she said.
More investment products will help encourage the public to invest, said PSE board member Vivian Yuchengco. Real Estate Investment Trusts or REITs could be launched as early as the first quarter, she said.
LOOK: PSE officials (chairman Pardo, board director Vivian Yuchengco, Pres Ramon Monzon and COO Atty Roel Refran) ready to welcome 2019 with good cheer, wine and Torotot! @ANCALERTS pic.twitter.com/UcNIQEmeb6
— Michelle Krystle Ong (@michelle_d_ong) January 2, 2019
LOOK: PSE officials (chairman Pardo, board director Vivian Yuchengco, Pres Ramon Monzon and COO Atty Roel Refran) ready to welcome 2019 with good cheer, wine and Torotot! @ANCALERTS pic.twitter.com/UcNIQEmeb6
— Michelle Krystle Ong (@michelle_d_ong) January 2, 2019
Short selling products can also help tap foreign investors, PSE president and CEO Ramon Monzon said.
Short selling products can also help tap foreign investors, PSE president and CEO Ramon Monzon said.
In short selling, a trader borrows shares whose price he thinks will decline and then sells them in the open market. Once the shares' price falls, he buys them back at the lower price and returns them, making a profit via difference in the stock's old and new price.
In short selling, a trader borrows shares whose price he thinks will decline and then sells them in the open market. Once the shares' price falls, he buys them back at the lower price and returns them, making a profit via difference in the stock's old and new price.
Monzon said companies might also "reconsider" their initial public offerings (IPOs) if the market improves this year.
Monzon said companies might also "reconsider" their initial public offerings (IPOs) if the market improves this year.
"They say when you’re down there’s only one way to go, to go up, right? This is the year we hope," Monzon said.
"They say when you’re down there’s only one way to go, to go up, right? This is the year we hope," Monzon said.
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Business
DA to put up close to 100 cold storage facilities under P3-B program
DA to put up close to 100 cold storage facilities under P3-B program
ABS-CBN News
Published Jan 26, 2025 12:23 PM PHT
MANILA — The government will this year start construction of around 99 cold storage facilities meant to help extend the shelf life of produce and keep supply and prices stable, the Department of Agriculture said in a release Sunday.
MANILA — The government will this year start construction of around 99 cold storage facilities meant to help extend the shelf life of produce and keep supply and prices stable, the Department of Agriculture said in a release Sunday.
The planned facilities, which are part of a P3-billion DA project, will have low operating costs and will be powered by renewable energy sources and by the power grid.
The planned facilities, which are part of a P3-billion DA project, will have low operating costs and will be powered by renewable energy sources and by the power grid.
“This approach not only addresses immediate agricultural needs but also aligns with broader environmental goals,” Agriculture Secretary Francisco Tiu Laurel Jr. said.
“This approach not only addresses immediate agricultural needs but also aligns with broader environmental goals,” Agriculture Secretary Francisco Tiu Laurel Jr. said.
The DA said most of the smaller cold storage facilities — modular chillers that can store between 7 to 15 metric towns — are expected to be operational within the year.
The DA said most of the smaller cold storage facilities — modular chillers that can store between 7 to 15 metric towns — are expected to be operational within the year.
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Larger facilities will take longer, around 18 to 22 months to build, the DA said, adding there are plans to put those up in Camarines Sur as well as in Oriental Mindoro and Nueva Ecija.
Larger facilities will take longer, around 18 to 22 months to build, the DA said, adding there are plans to put those up in Camarines Sur as well as in Oriental Mindoro and Nueva Ecija.
“The DA will oversee and manage these mega-cold storage facilities through and in cooperation with local government units, and farmers' cooperatives and associations to ensure efficient operations and community involvement,” it also said.
“The DA will oversee and manage these mega-cold storage facilities through and in cooperation with local government units, and farmers' cooperatives and associations to ensure efficient operations and community involvement,” it also said.
Funding for the project will come from P1.5 billion in unprogrammed funds in the 2024 national budget and another P1.5 billion in the budget for this year.
Funding for the project will come from P1.5 billion in unprogrammed funds in the 2024 national budget and another P1.5 billion in the budget for this year.
"By improving the cold chain infrastructure, we will strengthen the agricultural sector, reduce farm losses, extend the shelf life of agricultural products, stabilize supply and prices, and ensure food security,” Tiu Laurel said.
"By improving the cold chain infrastructure, we will strengthen the agricultural sector, reduce farm losses, extend the shelf life of agricultural products, stabilize supply and prices, and ensure food security,” Tiu Laurel said.
Lack of cold storage facilities has contributed to produce being sold at a loss or left to spoil, and to price spikes in goods like onions.
Lack of cold storage facilities has contributed to produce being sold at a loss or left to spoil, and to price spikes in goods like onions.
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