The Market Monitor Minding the Nation's Business

The Senate is giving priority to the Comprehensive Tax Reform Program (CTRP) being sought by the government through the Department of Finance (DOF) and cannot at this time accede to the House of Representatives’s request for a needed push to amend the Sin Tax Reform Law, commonly known as the sin-tax law, said Sen. Juan Edgardo “Sonny” Angara, chairman of …

Finance Secretary Carlos Dominguez III has given assurances that the Mining Industry Coordinating Council (MICC) will meet “as soon as possible” to address the appeal of the Chamber of Mines (CMP) of the Philippines (CMP), the umbrella organization of local mining firms, which is protesting the order of the government to shutdown an unprecedented number of mostly nickel-producing mines “without …

The order of the Department of Environment and Natural Resources (DENR) for the closure of 21 mainly nickel-producing mines that account for about half of output in the world’s top nickel ore supplies, has triggered a steep rise in the price of nickel in the world market. 

By Riza Lozada  Hinting of a possible high-level anomaly in the two-day factory fire that hit House Technology Inc. (HTI) at the Cavite Export Zone (CEZ), Labor Secretary Silvestre Bello said the Department of Labor and Employment (DoLE) will investigate a possible “wrongdoing” in the local governance level.

A few rounds of questioning were enough for Trade Secretary Ramon Lopez and Department of Agriculture Secretary Emmanuel “Manny” Piñol to pass confirmation by the Commission on Appointments (CA) last Feb. 1. 

The Armed Forces of the Philippines (AFP) has more than sufficient forces to meet rebel groups in Eastern Mindanao and elsewhere as the unilateral ceasefires of both the government and the communist group ended, AFP chief-of-staff Gen. Eduardo Año said. 

Power transformers will support the upgrade of transmission infrastructure and improve grid reliability, according to power equipment supplier ABB after winning orders worth approximately $27 million from the National Grid Corporation of the Philippines (NGCP). 

By Riza Lozada  The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, met with a delegation sent by the Ministry of Economic Development and the Ministry of Transport of the Russian Federation last week to discuss expanding of business relations in both countries. 

By Riza Lozada  Corporate borrowings have surged last year to reflect the healthy state of the economy as private bonds registered with the Securities and Exchange Commission (SEC) surged 134 percent in 2016.

Union Bank of the Philippines (UnionBank) has earmarked P3 billion for capital expenditure (capex) to complete its digital transformation strategy, UnionBank President and Chief Operating Officer Erwin R. Bautista said.