No fundamentals: Romualdez, Araneta stocks tank on Bongbong’s inauguration

The big winners in President Bongbong Marcos’ landslide victory are the biggest losers on his inauguration day.

The stocks owned by Marcos’ brother-in-law and bilyonaryo Greggy Araneta – Philweb (WEB) and Araneta Properties (ARA) – were one and two on the losers’ list in June 30.

WEB shed 11.5 percent to P4.85 on P119.8 million in total trades. ARA lost 10.8 percent to P1.73 on P11.14 million in trade.

Araneta’s chips, however, are still up 56 percent (WEB) and 33 percent (ARA) from their pre-election day price.

Companies owned by Marcos, first cousin, incoming Speaker and bilyonaryo Martin Romualdez were also in the red on the President’s first day in office.

Romualdez’s thinly-trade holding firm Bright Kindle Resources (BKR) fell 10.55 percent to P1.95 while his media company, Prime Media Holdings (PRIM), slipped 9.35 percent to P2.81.

PRIM, however, is still 95 percent up from its pre-election price.

Bringing ‘hilot’ to the world

Going on a wellness retreat has been a yearly tradition for Nepal’s lone billionaire, Binod Chaudhary. Fifteen years ago, the pursuit for health brought the adventure-seeking Binod to the Philippines. He booked a detox program at The Farm at San Benito, a world-class wellness resort in Lipa, Batangas.

MPIC CFO Joins WBA Allies’ Assembly 2022

Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, represented by its Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla, joined the World Benchmarking Alliance’s (WBA) Allies’ Assembly 2022 as a speaker and panelist in Cape Town, South Africa.

MPIC CFO Joins WBA Allies’ Assembly 2022

Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, represented by its Chief Finance, Risk, and Sustainability Officer Chaye A. Cabal-Revilla, joined the World Benchmarking Alliance’s (WBA) Allies’ Assembly 2022 as a speaker and panelist in Cape Town, South Africa.

US inflation eases in July amid falling oil prices

US inflation eased slightly in July, according to official data Wednesday, potentially taking pressure off the Federal Reserve to hike interest rates sharply while bringing a much-needed boost to President Joe Biden just months before crucial midterm elections.