The Market Monitor Minding the Nation's Business

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. 

By Riza Lozada  Chinabank is infusing P2 billion into its saving bank unit, China Savings Bank Inc. (CSBI), to comply with the Bangko Sentral Ng Pilipinas (BSP)- mandated capital infusion prior to giving its final approval to the merger between CSBI and Planters Development Bank (PDB). 

Union Bank of the Philippines (UBP) will fund P1 billion of the Gaisano group’s Metro Retail Stores Group Inc.’s (MRSGI) expansion plan in Metro Manila. 

By Weng Ocfemia  The Central Luzon Regional Development Council (RDC) has asked the Department of Public Works and Highways (DPWH) and the Department of Energy (DOE) to fasttrack the issuance of joint guidelines on compensation for electric cooperatives. 

Rep. Rodolfo Biazon has filed a resolution seeking a congressional inquiry into the implementation of existing traffic laws in order to improve road safety in the country.