January 06, 2018

News Rundown: January 1 – 5, 2018

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  • One week down, 51 weeks to go. We’ve had a pretty eventful week thus far. We’ve had rebrands, closures, and several announcements. Here’s Philippine Primer’s first News Rundown for 2018.

    PSEi sets new record-high in 2018

    If you’ve invested in a company that’s being traded at the Philippine Stock Exchange (PSE), then you would’ve been jumping for joy at what happened earlier this week. The PSE index just hit a new record high of 8,739.83, a 165.71-point increase compared to 2017’s record high of 8,558.42, which was logged on December 29, 2017, the last day of trading for the previous year.

    “Investor confidence and optimism were very apparent in today’s trading and we hope our market will remain robust for most of the year,” PSE President and CEO Ramon S. Monzon said in a statement posted on the PSE website last January 3.

    Source: PSE Press Room

    Ibiza Beach Club BGC closes its doors

    IMAGE Ibiza BGC on Facebook

    It was one grand ride, but a ride that has ground to a halt. The Ibiza Beach Club in BGC officially closed its doors at the beginning of the year, citing “massive losses month after month” in a post on their official Facebook page.

    “We are sad and yet we remain hopeful. Ibiza as a brand will continue on – armed this time with a little more prudence; we are keeping our eyes wide open for more commercially sensible opportunities,” the statement said.

    Also read: Ibiza BGC ceases operations

    City of Dreams’ Crown Towers is now NÜWA

    From the closing of Ibiza BGC’s doors, we now look forward to a rebrand at City of Dreams Manila and Macau. The esteemed integrated resort brand under Melco Resorts & Entertainment Limited recently announced their rebranding of Crown Towers Hotels in its City of Dreams properties in Manila and Macau.

    Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco Resorts and Entertainment said, “We are excited to introduce NÜWA. The new hotel brand embodies the very essence of Melco’s pursuit to provide our guests the very best in sophistication, quality, and innovation.”

    Also read: LOOK: City of Dreams Manila introduces new luxury brand NÜWA

    PH is Third Happiest Country in the World

    Despite all of the tragedies we faced in 2017, it seems that the Filipino spirit isn’t just alive and well; it’s thriving. A report from ABS-CBN news recently cited the Philippines as the third happiest country in the world, based on a survey done by US-based Gallup International. The results placed us behind Fiji and Colombia, while also saying we are the 7th most optimistic country in the world along with Kosovo.

    Also read: PH is Third Happiest Country in the World

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