The Market Monitor Minding the Nation's Business

By Luis Leoncio The supposed rift between the European Union and President Duterte over the conduct of the war on drugs notwithstanding, 14 ambassadors representing the member-countries of the European Union (EU) have expressed their continued support for the Duterte administration’s 10-point socioeconomic agenda and bared plans to invest more in the Philippines, particularly in infrastructure, energy and civil security, …

The existence of a “business-friendly” socioeconomic agenda that underlines its readiness and capability to drastically reduce poverty and lift the economy to high middle-income status in six years’ time provides investors with the right atmosphere to bring in their capital to the country , Finance Secretary Carlos Dominguez III said.

After being bypassed by the powerful Commission on Appointments (COA), Transportation Secretary Arthur Tugade’s reappointment faces heavy opposition, mainly as a result of his failure to address the traffic problem while waiting for Congress to decide on the proposed emergency powers for President Duterte.

By Riza Lozada The country’s oldest mining firm Ben­guet Corp will seek a court injunction on the Department of Environ­ment and Natural Resources’ (DENR) refusal to lift a sus­pension order imposed on its mining operations in Sta. Cruz, Zambales.

Intense competition in the smartphone market as a re­sult of the proliferation of low-cost units, mainly from China prompted Moto, for­merly Motorola, is seeking to change the equation through the offering of high-quality phones within reach of Fili­pino consumers through tie-ups with phone companies.

Broadcast giant ABS-CBN Corp. reported a consolidated revenue of P31.1 billion for the first nine months boosting its net income by 50 percent to P2.85 billion compared to the same period last year.

Listed building equipment supplier Holcim Philippines posted a 15.3 percent jump in net income to P1.76 billion for the third quarter from a P1.53 billion profit a year ago.

By Riza Lozada The Bangko Sentral ng Pili­pinas (BSP) has revised the rules on dormant deposits and bank fees, which the BSP said was part of efforts to strengthen protection of depositors.

BPI-Philam Life Assurance Corp., the country’s largest bancassurance company, kicked off with the first ever Bancassurance Month this Oc­tober during the unveiling of the new BPI-Philam Life Makati Building (formerly Ayala-Life FGU).

Financial inclusion is slowly gaining ground as more banks offer investment products for retail investors.