The Market Monitor Minding the Nation's Business

Investigations in Bangladesh into the electronic theft of $81 million from the country’s central bank have zeroed in on some technicians from the bank bolstering the claim of the local Rizal Commercial Banking Corp. (RCBC) through which the pilfered funds were channeled that it did nothing wrong. 

The area around Quiapo was practically placed on a lockdown since Saturday as the government spared no effort to thwart a supposed terrorist threat during the celebration of the annual feast of the Black Nazarene this Monday. 

Philippine Long Distance Telephone Inc. (PLDT) information technology unit ePLDT Inc. has called for more cybersecurity experts to be recruited in deterring hacking and other cybercrime incidents in the future. 

Close to 2,000 LandBank of the Philippines (LandBank) employees joined the celebration of Volunteerism Month last December with various employee activities held all over the country. Earlier this year, the Bank institutionalized its employee volunteerism program dubbed Volunteerific, through which its nearly 8,000-strong employees are enjoined to conduct volunteerism activities all year round. 

By Riza Lozada  The Securities and Exchange Commission (SEC) has approved the P2- billion special block sale of common shares held by businessman Roberto V. Ongpin (RVO) in Philweb Corp. to Gregorio Araneta Incorporated (GAI) that puts into motion a tender offer of the shares are required by the bourse. 

Listed mining firm Global Ferronickel Holdings, Inc (FNI) unit Platinum Group Metals Corp (PGMC) recently signed a supply contract for the delivery of a total of 2 million wet metric tons of nickel ore to Guangdong Century Tsingshan Nickel Industry Co Ltd at spot price for the 2017 mining season, FNI reported to the bourse. 

The Philippines will host the 14th Asia Forum of Hong Kong Business Associations (HKBAs) this year, Hong Kong Chamber and Commerce of the Philippines, Inc. (HKCCPI) President Anthony Chan said. 

Flag carrier Philippine Airlines (PAL) marked its 75th anniversary last year by unveiling a new marketing campaign called Heart of the Filipino and along with it a goal of becoming a five-star airline within five years. 

By Riza Lozada  The Land Bank of the Philippines (LandBank) has vowed to substantially increase lending to small farmers and fishermen from P37.9 billion to P115 billion over the next six years, in keeping with President Duterte’s goal of dispersing the benefits of growth to the countryside through the development of the farm sector.

Light Rail Transit 1 (LRT-1) operator Light Rail Manila Corp’s (LRMC) P24-billion loan facility was recently awarded Best Project Finance Deal of 2016 in the 10th Annual Alpha Southeast Asia Best Deal and Solution Awards.