INVESTORS rallied behind Converge ICT Solutions, Inc. last week as the fiber internet provider announced its expansion overseas.
Data from the Philippine Stock Exchange showed a total of 44.86 million shares worth P754.81 million were traded from Jan. 3 to 6, making it the eighth most active stock last week.
In a disclosure on Wednesday, Converge said that it had received the go-signal from the Singapore government to provide internet connectivity in that country, strengthening its international business. The services include ethernet-international private line, dedicated internet access, carrier ethernet network, internet protocol virtual private network using multiprotocol label switching, and sale and resale of submarine cable capacities.
“We saw the stock was heavily battered last year with heavy foreign selling, I believe this will be a better year for Converge as we all know access to the internet has become a necessity in almost all aspects of life today,” Mr. Santarina said in a Viber message.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PSEi poised to test 6,800 as PH restarts fight vs inflationInvestors will be watching key resistance levels after the benchmark Philippine Stock Exchange index rallied in the first week of 2023 on bets over the reopening of China and slowing domestic inflation in the coming months.
Read more »
PBBM China visit to create more jobs, boost forex earnings: DTIDepartment of Trade and Industry (DTI) Secretary Alfredo Pascual on Friday said the coming in of more Chinese investors to the Philippines would translate into more jobs for Filipinos, enhanced for…
Read more »
UK becoming less attractive for investment, manufacturers warnBritain has become less competitive and less attractive to foreign investors as a result of soaring energy costs and recent political turmoil, manufacturers said in an industry survey released on Monday. | Reuters
Read more »
Best of CES 2023: A color-changing BMW, a boba tea robot, and perfect eyebrows | The Associated PressLAS VEGAS — Tech companies showed off their latest products this week at CES, formerly known as the Consumer Electronics Show. Crowds of investors, media and tech workers have streamed into cavernous Las Vegas venues to see the latest tech from big companies and startups. There are flashy concept cars, screens of every…
Read more »
China builders’ rally poised to continue on govt support | Bloomberg NewsThe surge in Chinese builders’ stocks and dollar bonds isn’t over as buying momentum driven by supportive government policy is likely to persist, some investors say. The recovery has been driven by a flurry of measures aimed at stemming China’s property crisis, after efforts to crack down on debt-fueled speculation…
Read more »
Gross borrowings drop 31% as of end-November - BusinessWorld OnlineGROSS BORROWINGS declined by 31.3% year on year as of end-November, preliminary data from the Bureau of the Treasury (BTr) showed. In the January-to-November period, total gross borrowings dropped to P1.91 trillion from the P2.78-trillion borrowings in the previous year. The 11-month gross borrowings represent 86.8% of the P2.2-trillion total borrowing plan set by the […]
Read more »