The Market Monitor Minding the Nation's Business

A Senate resolution was filed last week to seek an investigation, in aid of legislation, of the country’s foreign loans that now stands at $77 billion, as the Duterte administration indicated it may borrow more to finance its planned massive infrastructure buildup of about P200 billion a year.

The Duterte administration will tap the China-led Asian Infrastructure Investment Bank  (AIIB) to fund a total of P61.22 billion worth of infrastructure next year.

By Luis Leoncio President Duterte signed into law Republic Act No. 10924, or the General Appropriations Act (GAA) for Fiscal Year 2017, the first budget under the Duterte administration, as he took pride on the allocation item that will free farmers from paying irrigations fees.

By Riza Lozada From 2001 to 2014, the so-called road users’ tax or the Motor Vehicle User’s Charge (MUVC) raised a total of P112.5 billion against releases of P105 billion resulting in P7.5 billion balance in the fund, a study made by government think tank Philippine Institute for Development Studies (PIDS) showed.

By Riza Lozada Aboitiz Power Corp. (AP Corp.) has acquired a majority stake in GNPower Mariveles Coal Plant Ltd. Co. (GNPower – Mariveles) and a minority interest in GNPower Dinginin Ltd. Co. (GNPower – Dinginin), the company reported to the bourse.

Ayala Corp.’s energy unit AC Energy will sell a 15 percent stake in South Luzon Thermal Energy Corp. (SLTEC) to Axia Power Holdings Philippines Corp. (Axia Power), a subsidiary of Marubeni Corporation.

Listed Premiere Horizon Alliance Corp. (PHA) has completed a 15-percent equity placement with strategic investors in West Palawan Premiere (WPP) development worth P800 million covering its current Palawan landholdings hiking PHA’s stake in WPP to 85 percent. WPP is the mountain and beach side lifestyle community development of PHA in Puerto Princesa City covering 576 hectares. “The full implementation of …

By Riza Lozada The state-owned Land Bank of the Philippines (LandBank) will set up by September next year a bank partly owned by overseas Filipino workers (OFWs) and with an authorized capital of P3 billion.

The Bangko Sentral ng Pilipinas (BSP) will tap solar power for its offices to boost the government’s goal to increase the use of renewable energy.

Bank of the Philippine Islands (BPI) recently made the Personal Equity and Retirement Account (PERA) available to a limited number of existing BPI clients.