The Market Monitor Minding the Nation's Business
By Riza Lozada The Philippine National Bank (PNB) reported a group profit of P4.7 billion for the first nine months ending September, which was P1 billion higher than the figure posted a year ago.
Read More »Business
US Fed chief: Dec interest rate hike a ‘live possibility’
Washington—United States Federal Reserve (the Fed) Chairman Janet Yellen said that an interest rate hike in December is a “live possibility” if the economy stays on track.
Read More »Small business owners just say no to preserve family time
New York—Sometimes family comes first.
Read More »Deutsche Bank to pay $258 million to settle US sanctions violations
Albany, New York—Deutsche Bank has agreed to pay $258 million to settle legal problems stemming from US sanctions violations, New York regulators said.
Read More »8990 sells P1-B receivables to BPI’s thrift-bank unit
By Riza Lozada Housing firm 8990 Holdings Inc. has signed a deal to sell P1 billion in receivables to the thrift-bank arm of the Ayala-led Bank of the Philippine Islands (BPI), in a move that would free up new capital for the mass-housing developer.
Read More »Aboitiz group incurs 17% profit fall in 3 quarters
By Riza Lozada Flagship company Aboitiz Equity Ventures Inc. (AEV) reported a consolidated net income of P11.9 billion until September, 17 percent lower from a year ago, with non-listed food subsidiary Pilmico Foods Corp. (Pilmico) as a bright spot, growing by 46 percent and contributing P1.4 billion in income.
Read More »Philex cuts loss, but S&P sees more woes ahead
Philex Petroleum Corp. reported a consolidated net loss of P118.1 million for the nine-month period ending September, which was lower than the P376.9 million in losses a year ago, to reflect the impact of low crude oil prices on Asian fuel companies.
Read More »Banks diversify, shift to hard industries to boost bottom line
By Jerry Maglunog Regardless of the type of bank, the trend is to create units that will engage in the industrial sector to realize gains from the country’s fast-growing economy.
Read More »Tetangco named MAP Management Man of the Year
The Management Association of the Philippines (MAP) recently conferred on Bangko Sentral ng Pilipinas (BSP) Gov. Amando Tetangco Jr. the MAP Management Man of the Year 2015 award.
Read More »No shutdown, no default as Congress, Obama unite
Washington—Striving to end a cycle of crisis, congressional leaders and the White House united behind an ambitious budget and debt deal aimed at restoring a semblance of order to Capitol Hill and ending the threat of government shutdowns and defaults until well after a new president takes office.
Read More »