The Market Monitor Minding the Nation's Business

Newly appointed Environment and Natural Resources Secretary Roy Ci­matu is calling for Asean member-na­tions’ increasingly concerted action for environmental protection.

Around 2,000 years ago, merchants and caravans began moving east and west along the Silk Road, trading goods and technology. Now, a modern Silk Road, rekindling trade, attracting investment and sharing prosperity, is in the making.

Zhengzhou City—With the Belt & Road Initiative (BRI) serving as bridge, more ‘Made in the Philippines’ food products such as dried mangoes, ba­nana chips and sugar-coated ‘pili’ nuts are expected to reach China’s market in the future.

Many of the problems plaguing today’s world boil down to sluggish develop­ment, and effective growth strategies are more than welcome for better global governance, say analysts.

By Riza Lozada Slowing revenues from its mobile services re­sulted in telecommu­nications giant PLDT Inc. posting a core income of P5.3 billion in the first quar­ter, down 26 percent from a year ago.

LT Group Inc. (LTG) reported an unaudited attributable net income for the first quarter of 2017 amounted to P2.25 billion, flat com­pared to the P2.23 billion reported in the first quarter.

Cement producer Eagle Cement Corp. which will be traded under the ticker symbol “Eagle”, has priced its initial public offering at P15 per share, following the recent approval of its public listing by the Philippine Stock Exchange (PSE).

By Riza Lozada The Department of Fi­nance (DOF) warns of a higher budget deficit reaching as much as four percent of gross domestic product (GDP) that may weigh on the country’s investment grade ratings if the proposed tax reform program will not be passed on its orig­inal form.

In support of government strategy towards a more in­clusive financial system, state-owned Development Bank of the Philippines (DBP) opened five new branches in the first quarter with more DBP branches set to open within the year.

Security Bank Corp. (SBC) and Mitsubishi UFJ Financial Group (MUFG) of Japan jointly announced the launch of the Inter­bank Fund Management Service (IBFM).