The Market Monitor Minding the Nation's Business

The need for instant access to information using smartphones and other mobile devices spurred state-owned health maintenance agency Philippine Health Insurance Corp. (PhilHealth) to create its own application called PhilHealth ACR (All Case Rates) Search mobile application. 

The Philippines and South Korean governments have agreed to work together for the conclusion of Association of Southeast Asian Nations (ASEAN)-led trade pact, the Regional Comprehensive Economic Partnership (RCEP). 

Listed Rizal Commercial Banking Corp. (RCBC) reported a consolidated net income of P3.86 billion last year with its net interest income of P15.7 billion, accounting for 69 percent of total revenues of P22.81 billion. 

Ayala Group unit Bank of the Philippine Islands (BPI) achieved a full-year net income of P22.05 billion in 2016, growing by 20.9 percent with comprehensive income reaching P21.74 billion which was also a 30.2 percent improvement.

By Riza Lozada The Gokongwei group’s food conglomerate Universal Robina Corp (URC) and Hong Kong’s Vitasoy Group have established a joint venture in the manufacture of high-quality, nutritious and sustainable food and beverage products. 

By Riza Lozada  Dollar transfers from overseas Filipino workers exceeded the government’s 2016 growth target after it jumped five percent to $26.9 billion from $25.61 billion a year ago, Bangko Sentral ng Pilipinas (BSP) data showed. 

State bank regulator Philippine Deposit Insurance Corp. (PDIC) announced the appointment of banker Anita Linda Aquino as a member of the PDIC board. 

Local thrift banks will explore ways to increase their presence in remote areas of the country during a convention slated on March 14, at the Dusit Thani Hotel in Ayala Center, Makati. 

The Department of Finance (DOF) has approved a new revenue regulation (RR) that makes banks, rather than taxpayer, liable for delays in, or non-remittance of, taxes paid through credit, debit or prepaid cards. 

House Speaker Pantaleon D. Alvarez has called on the Department of Transportation (DOTr) to fast-track the building of the Light Railway Transit (LRT) – Metro Railway Transit (MRT) common station and to consider public welfare as its priority for the project.