The Market Monitor Minding the Nation's Business

Halal-conscious local and foreign tourists no longer need to worry about where to eat when they travel in the country, after the Department of Tourism (DOT) and the National Commission on Muslim Filipinos (NCMF) declared last week 16 establishments as halal-certified out of the 43 that applied for such certification.

To raise the standard on domestic travel by providing passengers with a world-class and cruise-like experience, premier land/sea trip provider 2GO Travel launched last month the newest addition to its fleet of luxurious and modern sea vessels, the M/V St. Therese of the Child Jesus, with the aim of promoting local tourism and strengthening the economy. 

By Jerry Maglunog and Luis Leoncio  Alarm bells have sounded in the local banking sector over the money-laundering scandal involving the $81-million hacked from the deposits of the Bank of Bangadesh in New York and channeled into local banks and casinos. 

The Philippines continues to waste its huge labor power that is the envy of other developing countries by not producing enough jobs, despite the stellar growth of its economy over the past few years, the Asian Development Bank (ADB) has noted in a periodic review. Government attention has been called to this phenomenon several times by University of the Philippines …

By Riza Lozada  The Securities and Exchange Commission (SEC) has turned down a petition of the Philippine Stock Exchange (PSE) for an exemption on ownership limits on financial markets in its planned merger with the Philippine Dealing Systems Holdings Corp (PDS), effectively putting in limbo the consolidation of the local equities and fixed-income or bond market. 

By Luis Leoncio Whoever wins as president in next month’s elections, investors face “some uncertainty” on the country, according to the United Kingdom-based political risk analysis firm Global Risks Insight (GRI). 

By Riza Lozada The Metro Pacific groups have concluded negotiations and will undertake the connector road project for the 13.5-kilometer North Luzon Expressway (NLEx) and the South Luzon Expressway (SLEx), which will cost an estimated P23.2 billion, after signing an agreement with the government, the diversified listed group said in a report to the Philippine Stock Exchange. 

Listed Philippine Seven Corp. (PSC), the operator of 7-Eleven retail stores, reported a net income of P1.01 billion in 2015, a 15.4-percent rise from a year ago, and attributed to growth in sales of all corporate and franchise-operated stores by 25.3 percent to P25.8 billion from P20.6 billion in 2014.

Ayala Land Inc. (ALI) was again named the overall best managed real-estate company in Asia by FinanceAsia in its 16th poll of Asia’s Best Companies awards. 

Listed gaming firm Premium Leisure Corp. (PLC) is banking on the profitability of the Philippine Charity Sweepstakes Office’s (PCSO) lottery operations to deliver further growth momentum to its portfolio of gaming and casino products and services.