The Market Monitor Minding the Nation's Business

By Luis Leoncio The government’s economic man­agers last week said the planned infrastructure buildup of the Duterte administration would be pursued, even at the risk of increased public borrowings.

By Riza Lozada Analysts and economists continue to up­grade their assessments on the country as a result of determined moves of the Duterte administration to institute policy reforms, particularly in doing away with red tape.

Three local business clans landed on the prestigious 2016 Forbes list of Asia’s Richest Fam­ilies, with the Sy family of the SM empire placing 17th, with a net worth of $12.8 billion. The Zobel family of the Aya­la Group took the 37th spot, with a net worth of $5.1 billion, and the Aboitiz family of the Aboitiz Group, was 39th, …

The government plans to bid out new ra­dio frequencies to firms that will challenge the domination of Philippine Long Distance Telephone Co. Inc. (PLDT) and Globe Tele­com in the telecommunications industry, the National Telecommunications Commission (NTC) said. The NTC said it plans to bid out unas­signed frequencies by the middle of next year to pave the way for the entry …

By Riza Lozada After a long period of stagnation, ex­ports recovered in September as they posted a 5.1-percent growth to end 17 months of consecutive contractions going back to June 2015.

The traffic situation in Metro Manila and other urban centers will get worse before it becomes bet­ter, as the government em­barks on massive projects to improve travel among key cities, President Duterte said. Mr. Duterte has ap­pealed to the public for more understanding as big-ticket projects under the govern­ment’s “Build, Build, Build” program are expected to worsen the traffic congestion …

The Department of Energy (DOE) will seek the revival of the Bataan Nuclear Power Plant (BNPP) after President Duterte allowed Energy Secretary Alfonso Cusi to study the possibility of reopening it, with specific instructions to prioritize the security and safety of the public.

Alex V. Buenaven­tura recently took his oath of of­fice as the ninth president and CEO of the state-owned Land Bank of the Philippines (LandBank), with a thrust to reinforce the bank’s development mandate anchored on pro­moting inclusive econom­ic growth especially in the countryside, with a stronger focus on helping farmers and fishers.

Leading mass-housing developer 8990 Holdings Inc. posted a flat prof­it in the first three quarters of 2016 amid the sharp rise in finance costs and higher cost of sales.

By Riza Lozada A Brown Company Inc. (ABC), with its consortium partners, has entered into a cooperation agreement with MTD Philippines, a subsidiary of infrastructure conglomerate AlloyMTD of Malaysia, for the development of the Philippine National Railways (PNR) East-West Rail Project.