00:48.1
The German DAX is up 0.6% following strong industrial production numbers from the region's biggest economy.
00:55.9
As for Wall Street, futures are flat as Treasury yields rose on rising bets that the U.S. Federal Reserve could delay interest rate cuts this year.
01:05.6
In Focus this week, U.S. consumer and producer prices.
01:11.3
Here are some stocks to watch out for when monitoring shares of TUI.
01:16.0
This as the German Travel Group marks its return to the Frankfurt Stock Exchange.
01:21.0
TUI shares last traded higher by 4%.
01:25.3
We're also keeping an eye on shares of French IT consultancy firm Atos after investor Butler Industries joined a consortium to rescue the firm.
01:33.6
Atos shares leapt 23% in midday trading.
01:37.0
We're also keeping a close watch on shares of Volvo Cars after Slovakia secured EU regulators approval to grant $289 million in state aid for Volvo's e-vehicle plant.
01:50.4
Volvo Cars rose 4%.
01:52.3
Finally, we're also keeping an eye on shares of Volvo.
01:55.2
We're also keeping an eye on shares of Volvo Cars rose 4%.
01:55.3
We're also keeping an eye on shares of Tesla after CEO Elon Musk announced the company will unveil its robo-taxi later this year.
02:02.4
Tesla shares are up 3% in pre-market trading.
02:07.3
Meanwhile, Asian markets ended Monday trade mostly higher.
02:11.0
Japan's Nikkei 225 lead gains rebounded from sharp losses last week amid pressure from the yen.
02:18.3
The Shanghai Composite, meanwhile, bucked the upswing as worries over China's property sector rise anew.
02:24.9
That's after the Shimao Group was slapped with a liquidation petition over unpaid debts by a top creditor joining the list of embattled developers in China.
02:36.8
Hong Kong listed shares of Shimao plunged 18.7%.
02:40.7
Here at home, Philippine shares finished flat ahead of the BSP's policy decision which came right before the close of trading hours.
02:52.6
We were expecting the market.
02:54.9
To have to start cutting rates or start cutting rates on the third quarter.
03:01.2
Now that indications might push that back.
03:04.2
There is a little bit of change in the risk.
03:07.4
So we do see that effect happening in the market the past few days.
03:12.7
Yes, we are expecting a 16% growth when it comes to the index index first quarter earnings.
03:21.2
We are expecting a 16% growth this year.
03:24.9
This is compared, however, to the 23 or 26% growth that we saw last year of first quarter.
03:32.6
So there is a little bit of effect.
03:34.8
But we still see a very robust growth.
03:37.9
And we still think that there are some value given this growth.
03:44.2
In notable stock movements, shares of Double Dragon surged 13.5% at the PSE.
03:51.4
That's after it announced its Hotel 101 entered.
03:54.9
into a definitive merger deal with a special-purpose acquisition firm, JVS PAC,
04:00.7
paving the way for a Nasdaq listing in the second half of the year.
04:08.2
The Philippine Central Bank keeps its borrowing rate steady as expected.
04:13.2
Monetary authorities on Monday kept the benchmark rate at 6.5%,
04:18.0
but raised their full-year inflation outlook to 4%.
04:21.4
That's after the measure of consumer prices accelerated
04:24.8
And the market was updated for a second straight month in March.
04:27.2
PSP Governor Eli Ramolona says they may be more hawkish in the face of inflationary pressures,
04:32.7
but they're not expecting any further rate tightening.
04:37.9
My sense is that the upside risks mainly have become worse.
04:44.6
So that would make us somewhat more hawkish than before.
04:50.7
So if, I would say,
04:54.7
If we were relatively dovish, we might reduce rates in the third quarter and that would be by no more than 25 basis points but now we're feeling a bit more hawkish than before so I would say we're not going to do it by the third quarter.
05:13.1
We may do it down the road. We're contemplating easing, we're not contemplating any further tightening.
05:20.9
Remo Lona also notes the Central Bank is keeping an eye on the price of rice. Rice inflation soared to a 15-year high of 24.4% in March.
05:35.4
If I were to name one single commodity, it would be rice and rice prices. They're not only very significant this time, they also are what we call salient prices.
05:47.9
They get noticed.
05:50.9
They get noticed and they tend to affect expectations more than other commodities.
05:59.6
The ASEAN Plus 3 Macroeconomic Research Office keeps its positive outlook on the Philippines this year.
06:06.8
In their regional outlook report, AMRO economists retained 6.3% their growth forecast for Manila this year.
06:15.1
This projection, if met, would make the country among the fastest growing in Southeast Asia.
06:20.9
AMRO also sees the Philippine economy expanding further in 2025 to 6.5%.
06:28.4
It says the manufacturing and tourism sectors will drive the growth in the country this year as they benefit from a boost in demand.
06:37.1
Within the bloc, which includes China, Japan and South Korea, AMRO says growth could be at 4.5% after a 4.3% expansion last year.
06:49.0
Another local corporate headlamp.
06:50.9
This line, Century Pacific Foods' bottom line, grew to 5.6 billion pesos last year thanks to a resilient top line and favorable commodity prices, which offset the effects of inflation.
07:03.1
Its branded businesses saw double-digit growth led by milk and other emerging segments, as well as steady performance of its core marine and meat brands.
07:12.6
Meanwhile, Boulevard Holdings says sales in its Friday's Puerto Galera resorts more than quadrupled in March to 5.8%.
07:20.9
This brings its total sales for the 10-month period ending March to 26.5 million.
07:28.3
That's double the amount year-on-year.
07:31.1
And finally, Friday, Security Bank enters a joint venture with Mitsubishi Motors to offer financing services to the carmaker's Philippine customers.
07:40.5
Mitsubishi Motors Finance is expected to begin operations in 2025, with Mitsubishi holding 51% ownership and Security Bank 49%.
07:50.9
Washington will not accept new industries being decimated by Chinese imports.
07:57.5
That warning from U.S. Treasury Secretary Janet Yellen as she wrapped up four days of meetings in China.
08:04.6
Yellen said President Joe Biden will not allow a repeat of the so-called China shock of the early 2000s when a flood of Chinese imports destroyed about 2 million American manufacturing jobs.
08:17.1
Yellen used her second trip to China in nine months to press her case.
08:20.9
She has met with China's central bank governor, finance minister, and premier during her trip.
08:34.8
And when the global market is flooded by artificially cheap Chinese products, the viability of American and other foreign firms is put into question.
08:46.1
And we've seen this story before.
08:50.0
Over a decade ago...
08:50.9
Massive PRC government support led to below-cost Chinese steel that flooded the global market and decimated industries across the world and in the United States.
09:04.7
Our concerns are not U.S. concerns alone, but also reflect the views of our allies in Europe, in Japan, and in developing emerging markets.
09:20.9
India, among others.
09:22.9
So this is a widespread set of concerns.
09:29.4
We're taking a quick break.
09:31.0
Up next, the Panama Papers tax evasion scandal begins.
09:34.5
That and more when Business Outlook returns.
09:50.9
The trial for the 2016 tax evasion scandal in Panama is opening after eight years in the former haven for offshore financial activities.
10:12.5
The 27 defendants due in court Monday include the founders of the now-defunct law firm at the epicenter of the controversy.
10:20.9
The Panama Papers scandal exposed a global phenomenon of wealthy individuals hiding their assets in offshore companies.
10:29.5
The leaked documents implicated influential figures, including billionaires and politicians.
10:35.4
Panama has remained on the EU's tax haven blacklist since, despite adopting a new law in the wake of the scandal.
10:44.5
Philippine Weather Bureau Pagasa says 31 provinces nationwide are experiencing meteorol...
10:50.9
meteorological drought due to the El Nino.
10:54.4
In its latest advisory, Pagasa says 19 provinces in Luzon, 11 in Visayas, and 1 in Mindanao are experiencing drought.
11:03.3
Meanwhile, 13 provinces are experiencing dry spells, while 15 others are seeing dry conditions.
11:09.4
A government task force warns the whole country will feel the effects of the El Nino phenomenon by the end of this month.
11:17.1
Nearly 20 local governments have declared a state of calamity.
11:20.6
Due to the weather phenomenon with damage to agriculture, climbing to at least 2.6 billion pesos.
11:29.1
By the end of April, 80 out of the 82 provinces, more or less, meron ng efekto yung El Nino sa kanya.
11:38.2
Pero hindi ibig sabihin nun na lahat ng sakahan mapipintala, lahat ng water reservoir o yung sources of water ay matutuyo.
11:47.5
Pero dahil nga sa init na nararanasan natin,
11:50.6
kahit pa paano, masasabi natin, apektado na yung buong bansa.
11:55.5
Ipagpaliban po muna yung maintenance at saka yung paglilinis po ng swimming pools hanggat maaari.
12:02.6
Again, makiusap po ito, hindi po ito pagbabawal.
12:06.3
Pero po kasi talaga, kapag maglinis tayo kahit ng isang swimming pool, napakalaking konsumo po nun sa tubig.
12:15.5
The Philippines' labor secretary calls for measures from companies
12:20.6
to help workers cope with extreme heat.
12:22.6
Secretary Bienvenido Languesma suggested Monday that firms improve ventilation in the workplace
12:28.6
and implement an office attire policy suitable for the temperature.
12:33.6
For workers out in the field, the labor chief says, companies should consider breaks during extreme heat.
12:42.6
Kung sobrang init siguro, dapat naman ay medyo makapagpahinga ang ating mga manggagawa.
12:47.6
At yun naman, alam naman po natin na hindi mo makapagpahinga.
12:49.4
At yun naman, alam naman po natin na hindi mo makapagpahinga.
12:50.4
Hindi naman siguro malaking kapawasan doon sa pagpapatuloy ng operasyon ng mga kumpanya.
12:55.5
In fact, napuproteksyonan po nila ang kalagayan at kalusugan ng kanilang mga manggagawa.
13:02.9
President Marcos Jr. leads the ceremonial energization of the long-awaited Cebu-Negros-Panay subgrid.
13:10.9
The P67.9 billion project aims to improve the reliability of power transmission in the western and central Visayas regions.
13:20.4
It will also dispatch excess capacities from Mindanao to meet the growing power demand in the Visayas region.
13:27.4
Marcos urged private generators and other stakeholders of the energy sector to invest in the new subgrid
13:34.2
to boost regional development and meet the region's long-term electricity demands.
13:41.6
While the CNP is a major step forward, I implore all our stakeholders in the Visayas to strategically adopt the P67.9 billion project.
13:50.3
and the Visayas to strategically adopt the P67.9 billion project.
13:50.4
identify suitable locations that will host new baseloid generation plants
13:56.1
as well as renewable energy and energy storage systems.
14:00.3
This will bolster energy sufficiency and sustainability in Negros and Panay.
14:08.8
President Marcos calls out the lack of discipline in Philippine roads.
14:12.9
This is as he vows to address the traffic woes plaguing the country.
14:16.8
In his vlog Sunday, Marcos said government officials should be an example
14:21.4
when it comes to being disciplined drivers and pedestrians.
14:25.9
The president also underscored the importance of provincial development
14:29.3
to solve congestion in the capital region.
14:46.8
Notorious na sa buong mundo ang traffic dito sa Pilipinas.
14:50.6
Congested ang Metro Manila.
14:52.5
Kung kaya bahagi talaga ng pagpaplano ay may develop ang mga kalapit probinsya at siyudad.
14:58.7
Ang higit nakakulangan natin mga Pilipino sa daan ay ang disiplina.
15:05.6
Dapat susunod tayo sa traffic rules para tayong mauubusan lagi ng kalye.
15:13.5
Philippine Land Transport Regulator, LTF,
15:16.8
clarifies it will only halt the expansion of motorcycle taxis within Metro Manila.
15:23.4
Its chairman, Teofilo Guadi, says the Transport Department ordered them to stop adding slots in Metro Manila
15:29.9
since their pilot study on the transport mode needs to cover other areas in the country.
15:36.0
The agency plans to allot 8,000 more slots for motorcycle taxi operators in Regions 3, 4, and 11.
15:46.8
Initially, yung mga first three groups that were awarded,
15:52.0
namely Angkas, Joyride, and Movid, have a combination of 45,000 for Metro Manila.
16:02.0
After that, we submitted the results of our study sa Congress already with a conclusion.
16:11.3
Ang sabi mo ng Kongreso, we have to expand our study.
16:15.0
We have to expand our study.
16:16.8
Tatulog lang yung participants and it's only Metro Manila, Cebu, and Cagayan de Oro.
16:25.1
Filipino students learned tricks of the trade behind starting a business in a summit in Pasig City.
16:31.2
Jackie Pascual tells us all about that in this report.
16:35.8
The Philippine Education Department and non-profit group Go Negosyo have partnered to mentor students on entrepreneurship.
16:43.5
In Pasig, they organized the Youthpreneur Summit.
16:46.3
To equip senior high school learners of Rizal High School with basic information on how to start the business and how to sustain it.
16:54.9
To cultivate a culture of innovation and equip the next generation with essential life skills,
17:03.6
it is imperative to introduce entrepreneurship education at an early age.
17:09.7
Students were given partner mentors or business owners who gave them tips on running a business.
17:15.1
From the planning staff.
17:16.3
From the stage to product development, up to marketing and packaging.
17:20.6
Go Negosyo founder Joey Concepcion says,
17:23.6
small and medium-sized enterprises or SMEs are the backbone of the economy
17:28.1
and there is a need to strengthen it further.
17:30.8
The only way to propel our economy is to teach our young kids to be enterprising.
17:39.7
Whether what I call it entrepreneurial, which is working for somebody in a company,
17:45.7
but being entrepreneurial-minded or becoming a negosyante.
17:50.5
One of the students who joined the summit is 18-year-old Luke,
17:53.8
who started a donut business last year but had to stop because of low sales after just a few months.
18:01.2
Now he wants to learn more to avoid the mistakes he may have committed.
18:05.7
Gusto ko malaman kung kanino siya pwedeng i-market, kung sa mga matatanda po ba,
18:10.1
sa mga bata po ba na gusto ng sweets, yung mga ganun po.
18:14.2
Magkaroon po kami ng sarili.
18:15.7
And makilala po yung mini-donuts namin.
18:18.6
Vice President and Education Secretary Sara Duterte tells students,
18:22.8
they cannot depend on salary alone, especially if they want to buy things that may not necessarily be a need.
18:29.9
Paano ba tayo magkakaroon ng pera? Magtatrabaho tayo.
18:35.8
Mabibigyan tayo ng sweldo. Pero yung sweldo natin hindi lumalaki.
18:40.3
Paano natin palaguin, paramihin ang pera natin?
18:49.9
GoNegosyo now plans to go to other schools and cities to mentor the younger population
18:54.7
on how to become effective business owners to help their families and the economy as a whole.
19:01.9
Jackie Pascual, ABS-CBN News.
19:06.3
And before we go, here's what we can expect on Market Edge tomorrow at 9am.
19:11.0
Michelle Ong will be talking with Boholan artist Elvin Vitamil.
19:15.7
And Tor, who is set to receive the prestigious Leonardo da Vinci International Art Prize later this month.
19:22.9
And China Bank Capital's Managing Director J.P. Colette will give his market outlook for the week
19:27.8
with the local boards closed on Tuesday and Wednesday.
19:32.3
That's your business outlook. I'm Ron Curl.
19:34.2
And I'm Savi Duplito.
19:35.6
The world tonight comes your way at the top of the next hour.
19:38.6
Keep it here on ANC.
19:45.7
Thank you for watching.
