The Market Monitor Minding the Nation's Business

The proposed comprehensive tax reform program of the Duterte administration will serve as fiscal buffer to allow the government to pursue its expansionary economic policy anchored on an ambitious “Build, Build, Build” infrastructure program consisting of some 75 major flagship projects that would either be completed or started over the next five years, Finance Secretary Carlos Dominguez III said. 

The Senate approved the Expanded Anti-Red Tape Act of 2017 which seeks to reduce the requirements for starting and operating businesses by limiting the processing of business documents by not more than three days for small firms. 

Philex Mining Corp. has granted health insurance to 620 individuals, together with their families, worth P1.48 million this year, bringing to P3.4 million the total amount of coverage given to the indigent residents in the outlying communities of its Padcal mine in this province over the past four years. 

By Riza Lozada Listed domestic liner operator Chelsea Logistics Holdings Corp. (CLC) sailed through the first half of the year with a 93-percent surge in earnings, as it realized the full benefit of deploying vessels acquired in late 2016 and those previously drydocked as well as recognized its share in the earnings of 2GO Group, Inc. 

Major telecommunications firm Globe Telecom has expanded so-called Long Term Evolution (LTE) to the Visayas and Mindanao regions as it aims to improve its network coverage. 

President Duterte commended last Friday Aviana Development Corp, a joint venture company of Ayala Land, Inc. and the Alcantara Group of Companies for their commitment to pursue economic development in many parts of the country. 

Property giant Ayala Land Inc. (ALI) won five major awards at the 14th Annual International Business Awards (IBA), also known as the Stevie Awards. 

By Riza Lozada Local banks are expected to continue to grow rapidly over the next two years, thanks to the strong solid economic growth, corporate profitability, low interest rates, and a drop in non-performing loans, ratings firm Standard and Poor’s (S&P) said. 

The Coalition for Better Education (CBE) conferred a Presidential Award to City Savings Bank (CitySavings) last August 5 at Golden Prince Hotel and Suites, Cebu City during its 16th year founding anniversary. 

The Philippine peso is expected to stabilize within this week after signs of recovery last week, Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. said.