The Market Monitor Minding the Nation's Business

Telecommunications giant Philippine Long Distance Telephone Co. (PLDT) said it has sustained its leadership in the Enterprise market as its revenues reached P8.5 billion for the first quarter, up 13 percent from last year’s P7.55 billion, driven by strong demand for data and information and communications technology (ICT) services. 

Listed property developer Double Dragon (DD) targets to raise at least P6.5 billion from the issuance of the second tranche of its fixed rate retail bonds. 

Chinese banking giants dominated business bible Forbes’ 15th annual Global 2000 list.

By September, overseas Filipino workers (OFWs) will have a bank of their own. 

Bank regulator Philippine Deposit Insurance Corp. (PDIC) has resumed its deposit insurance and liquidation operations in the closed Rural Bank of Barotac Viejo (Iloilo), Inc. (RB Barotac Viejo) following the expiration on May 20, 2017 of the Temporary Restraining Order (TRO) and/or Status Quo Ante Order (SQAO) issued against its move. 

By Riza Lozada  The country’s largest Filipino-owned life insurance company, The Insular Life Assurance Co. Ltd reported a robust 179 percent growth in consolidated net income to P4.9 billion in 2016 as a result of higher gains from sale of shares of stocks and properties, investment income and earnings of the company’s affiliates. 

Apartment and other real property rentals of P10,000 and below will remain VAT-free while those leasing out condos and other housing units whose gross sales of receipts fall under P3 million VAT threshold will also be exempt from this tax under the first package of the Comprehensive Tax Reform Program (CTRP), according to the Department of Finance (DOF). 

The Construction Manpower Development Foundation (CMDF) in partnership with the Ministry of Land Infrastructure, Transport and Tourism (MLIT) of the Government of Japan, and the Foundation for International Transfer of Skills in Construction (FITS, Japan) conducted a seminar ‘Measures to develop construction skills of Foreign Human Resources in Japan’ held recently at the Dusit Thani Manila. 

Department of Public Works and Highways (DPWH) in partnership with Japan International Cooperating Agency (JICA) inspected Thursday the Magapit Suspension Bridge in Lal-lo, Cagayan using drone cameras.

Despite the decision of the Department of Transportation (DOTr) to terminate the public-private partnership process for the Regional Airport Projects, the PPP Center remains ready and committed to support government agencies in their infrastructure and development projects.