The Market Monitor Minding the Nation's Business

Election spending, the traffic crisis and the increase in remittances of overseas Filipino workers all contributed to the surging sales of the country’s Motorcycle Development Program Participants Association (MDPPA) with an all-time sales hit of 1.1 million motorcycles, especially the light-engine or moped variety, in 2016. 

The notorious “5-6” scheme associated with Indian traders will soon become a legal financial scheme with some changes here and there, and the government is completing the guidelines for it, according to Rex Daryanani, president of the Federation of Indian Chambers and Commerce (Philippines) Inc. (Ficci). 

By Riza Lozada  State-owned National Power Corp. (Napocor) posted a net income of P1.6 billion in 2016 which was lower than last year, based on its report to the Commission on Audit (COA). 

By Ben Cal Despite the simple ceremonies, it was for the first time in three decades that three of the four key players that triggered the historic four-day Edsa People Power revolution on Feb. 22-25, 1986 that restored freedom and democracy in the Philippines, attended together a Holy Mass during the 31st Edsa anniversary held at Camp Aguinaldo last Friday. 

Listed integrated energy company Semirara Mining and Power Corp. (SMPC) reported an all-time-high net income of P12 billion in 2016, a 42 percent improvement from P8.47 billion the previous year as a result of higher coal and power sales. 

Most Australian firms prefer the Philippines to explore offshoring opportunities, as opposed to other rival potential business process outsourcing (BPO) destinations in the region, such as India, according to a study by government think tank Philippine Institute for Development Studies. 

By Riza Lozada  A surge in initial public offerings (IPOs) last year countered weak trading at the bourse to boost the Philippine Stock Exchange Inc.(PSE) net income by 3 percent to P701.54 million last year from P682.81 a year ago. 

Major lender Metropolitan Bank and Trust Co. (Metrobank) reported a consolidated net income of P18.1 billion in 2016 Profit for the fourth quarter grew 3 percent to P5.5 billion from a year ago, the bank reported. 

Century Pacific Food Inc (CNPF), the country’s largest canned food company, has been awarded by Asiamoney as the country’s Best Managed Company in 2016, under the small capital category. 

A systematic process of identifying the next Bangko Sentral ng Pilipinas (BSP) governor should be done to ensure that only a qualified individual would get the position, Finance Secretary Carlos Dominguez III said.