The Market Monitor Minding the Nation's Business

Del Monte Pacific Limited (DMPL) listed both in Singapore and the Philippines reported a net income of $8.5 million for its third quarter fiscal year ending January, a turnaround from the net loss of $4.8 million in the third quarter last year. 

The government is exploring the possibility of opening a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to cater to the banking needs of overseas Filipino workers (OFWs) living there and facilitate trade and investments between the Philippines and the island-kingdom, Finance Secretary Carlos Dominguez III said. 

The Sy group’s banking arm BDO Unibank (BDO) hit the 1,000-mark in terms of branches nationwide following the opening of another full-service outlet in Davao City last March 20. 

Bond yields in emerging East Asian markets fell between December 31 and mid-February despite the risk of accelerated pace of interest rate hikes in the United States (US), the Asian Development Bank’s (ADB) latest Asia Bond Monitor said.

Union Bank of the Philippines (UnionBank) received two Golds and one Silver at the recent 52nd Anvil Awards for its key corporate social responsibility (CSR) programs that seek volunteerism among its team members, conversion of micro, small and medium enterprises (MSMEs) into e-commerce, and heritage conservation of the nation’s history through digital methods. 

The Philippine Competition Commission (PCC) has approved recently the acquisition by SM Investments Corporation (SMIC) of shares in Philippines Urban Living Solutions Inc. (PULS). 

The Mactan Cebu International Airport (MCIA) receives a new recognition from an international organization that organizes and operates world-renowned airline and airport networking events. 

By Daryl Rose Virtudazo  With the country’s robust economic growth and the infrastructure golden age era pronouncement of the administration, Thai firm Siam Cement Group (SCG) is optimistic in its business operations in the Philippines. 

The completion of the P159-million road and bridge project connecting Cadawinonan in Dumaguete City to Magatas in the next town of Sibulan will be further delayed if lot and home owners opposed to the project will stand their ground and refuse to vacate their places. 

The National Economic and Development Authority (Neda) Investment Coordination Committee–Cabinet Committee (ICC-CC) has approved the scope revisions of two transport projects, change in financing mode of one irrigation project, and one water supply project. It also endorsed the approval of a new cost threshold for projects for ICC review and approval.