The Market Monitor Minding the Nation's Business

The rivalry in the already tight telecommunications market is expected to become fierce, as a third player—after giants Philippine Long Distance Co. and Globe Telecom—is expected to join the fray soon. 

Speaker Feliciano Belmonte Jr. said the country’s macroeconomic environment, one of the 12 major pillars of the competitiveness report, has improved by 44 ranks from 68th to 24th. He also reported that Congress enacted “game-changing” laws to bolster competitiveness of the economy and sustain economic growth that made the nation one of the best performers among the emerging economies. The …

London-based Barclays does not see the need for the Bangko Sentral ng Pilipinas (BSP) to raise rates until the second quarter of 2017 because of the stable economy and low inflation rate. 

Food manufacturer Rebisco Group founder Jacinto Ng Sr. topped the Bureau of Internal Revenue’s (BIR) biggest 500 individual taxpayers for 2014, dislodging last year’s topnotcher, eight-division boxing champ and Sarangani Representative Emmanuel “Manny” Pacquiao. 

Listed agribusiness giant Roxas Holdings Inc. (RHI) reported consolidated net income after tax amounting to P19 million for fiscal year ending September from P615 million a year ago. Net earnings per share was at P0.01 in 2015, and P0.67 per share in 2014. 

By Riza Lozada Listed Alliance Select Foods International Inc. (ASFII) will pursue the use of the P1 billion in proceeds from its fully-subscribed stocks right offer for working capital, debt servicing and capital expenditures, despite a boardroom dispute that resulted in the court-ordered postponement in the companys’ annual meeting, ASFII said in a report to the bourse. 

In less than a year, Benigno Aquino III will be leaving the post to which he has ingratiated himself mostly on the basis of the collective ignorance, folly and presumptions of an unthinking constituency—slow to learn from past mistakes and even slower on the uptake where traditional politicians and their attendant imagery is concerned. 

The much-awaited Federal Reserve rate hike that happened last week, the drop in crude oil prices and the decline in the Philippines peso vis-à-vis the US dollar are three flashpoints that could wreak havoc on the Philippines economy at a time when the country is basking in the afterglow of its consecutive quarterly growths. 

Since it is Christmas, we will deviate from our regular commentary to give our readers a brief respite from the hustle and bustle of Philippine politics. Instead, we will ponder what this season is all about. 

By Christopher Bodeen / The Associated Press Beijing—China’s Ministry of Defense on Saturday accused the United States of committing a “serious military provocation” by flying an Air Force B-52 bomber over a Chinese-controlled man-made island in the South China Sea, and reiterated that it would do whatever necessary to protect Chinese sovereignty.