The Market Monitor Minding the Nation's Business

By Jerry Maglunog  The Bankers’ Association of the Philippines (BAP) and the Bangko Sentral ng Pilipinas (BSP) have jointly issued a warning against a certain Global Investment Bank, or GIB Philippines Bank Ltd., which, according to the central bank, is currently engaged in unauthorized banking activity. 

The “contentious” Trans-Pacific Partnership (TPP), spearheaded by the United States “would undermine people’s rights and prevent national development,” local think tank IBON said as it urged the government to reconsider its plan to join it. 

By Lito U. Gagni  High energy prices and telecommunications issues are expected to be the priority concerns of the Philippine Competition Commission (PCC), the new agency tasked to address competition issues in industries by leveling the playing field among participants. 

By Riza Lozada Local trade groups are up in arms against new Securities and Exchange Commission (SEC) requirements for local firms, including the need to make official the new locations of their principal offices through amendments to their articles of incorporation that would require approval of stockholders and submission to the SEC. 

Globe Telecom said its board approved the declaration of a first quarter cash dividend of P22 per share for common shares.

The Light Rail Manila Corp. (LRMC), led by conglomerate Metro Pacific Corp. of mogul Manny V. Pangilinan, has signed a loan facility worth P24 billion, along with an Engineering, Procurement and Construction (EPC) agreement for the project to extend the Light Rail Transit Line 1 (LRT-1) to Cavite province.

The government ratified the two remaining protocols out of the six that, together, comprise a regional pact liberalizing air transportation in the Asean (Association of Southeast Asian Nations) Economic Community. On February 3, President Aquino signed Protocol 5 and Protocol 6 of the ASEAN Multilateral Agreement in Air Services (Maas), the Department of Transportation and Communications (DOTC) said in a …

The SM Central Business Park 1-A at the Mall of Asia (MOA) Complex in Pasay City has been declared a Philippine Economic Zone Authority (Peza) special economic zone. The area includes e-commerce buildings Three and Four E-Com which mostly houses information technology and Business Process Outsourcing companies.

It was his best so far. Relatively. 

There is a need for the Bangko Sentral ng Pilipinas (BSP) to have a watchful eye on certain activities of banks and investment houses due to their grave implications on the state of the economy. One of such activities is the unchecked collusion between some banks and investment houses and the companies that float bonds in the market for their …