The Market Monitor Minding the Nation's Business

By Riza Lozada Local thrift banks are optimistic on growth in lending busi­ness despite the impact of the proposed hike in automobile excise tax.

By Riza Lozada The Philippine Stock Exchange, Inc. (PSE) signed an agreement with the Bankers Association of the Philippines (BAP) to resume discussions on the proposed purchase of BAP’s 28.9 percent stake in the Philippine Dealings System Holdings Corp. (PDS). The PSE has a 20.98 percent own­ership in PDS.

Global port operator International Container Terminal Ser­vices Inc. (ICTSI) plans to order the most modern equipment that will have the largest vessel handling capability in the coun­try and at par with those used in major developed markets around the world.

Construction equipment retailer Wilcon Depot Inc., which will soon be listed at the stock exchange, expressed plans to ex­pand its market reach through online presence and setting up pop-up stores.

Listed Philippine Seven Corp. (PSC), the local licensee of convenience store 7-Eleven, plans to put up 412 new stores in an expansion offensive worth P3.5 billion to support its target 20-percent growth this year.

Pagbilao, Quezon – In a bid to battle malnutrition among students in public schools, TeaM Energy, together with the Department of Education spearheads an on-going six-month feeding program in select public schools in the Municipality of Pagbilao in Quezon.

For the first time in many years, the gov­ernment main revenue agencies, the Bureau of Customs (BOC) and Bureau of Internal Revenue (BIR), are expected to hit their respective collection targets for this year, given their solid performance in 2016 and at the onset of 2017, Finance Secretary Carlos Dominguez III said.

Top finance students of state universities were recently introduced to global bank Citi’s banking products and services at the launch of Citi Junior Bankers mentoring sessions.

By Riza Lozada Former Sen. Alberto Romu­lo assumed the post as new chairman of the board of the Development Bank of the Phil­ippines (DBP) after Finance Secretary Carlos Dominguez III swore him into office last week.

By Daryl Rose Virtudazo The Board of Investments (BOI) urged construction industry sectors to prepare their infrastructure project proposals intended to further spur the local industries’ growth, development, and competitiveness.