The Market Monitor Minding the Nation's Business

The Aquino administration, incredulous at the dismal Philippines ratings in the latest annual Ease of Doing Business report of the World Bank (WB), has lashed out at the ranking, calling it “erratic and unsound.”

By Luis Leoncio After all the hopes raised on the tax-cuts bill in Congress, it looks like President Aquino is determined to maintain the status quo on the tax system, after all. But sponsors of the measure are unfazed and are saying they will fight on. 

The Social Security System (SSS) has launched the SSS-UnionBank Quick Card, the newest addition to its growing number of electronic facilities to enable members to get their salary loan just three days upon the approval of their application.

By Riza Lozada Housing firm 8990 Holdings Inc. has signed a deal to sell P1 billion in receivables to the thrift-bank arm of the Ayala-led Bank of the Philippine Islands (BPI), in a move that would free up new capital for the mass-housing developer. 

By Riza Lozada  Flagship company Aboitiz Equity Ventures Inc. (AEV) reported a consolidated net income of P11.9 billion until September, 17 percent lower from a year ago, with non-listed food subsidiary Pilmico Foods Corp. (Pilmico) as a bright spot, growing by 46 percent and contributing P1.4 billion in income.

Philex Petroleum Corp. reported a consolidated net loss of P118.1 million for the nine-month period ending September, which was lower than the P376.9 million in losses a year ago, to reflect the impact of low crude oil prices on Asian fuel companies.

In the run-up to the Asia-Pacific Economic Conference later this month, the matter of trade and comparative industrialization again takes center stage and, for the latter, ours pales considerably. Allow us to review where our weaknesses lie, specifically focusing on the stages where industrialization should have taken root, but did not. 

Who wakes me some nights has been a beloved departed. Yes, I’ve been having nightmares, but not the usual kind—not from ghosts or ghouls that remain just phantoms for me. 

8990 Holdings, Inc., the country’s No.1 mass-housing developer, continues to excite the capital market with a deal-breaker of a deal regarding the P1-billion sale of its CTS or contract to sell receivables, to Ayala’s BPI Family Bank . The transaction has three interesting subtexts involving the mass-housing industry, the capital market, and access to long-term financing. 

By Elaine Kurtenbach  / The Associated Press Tokyo—Japan’s central bank kept its monetary policy unchanged Friday, but hinted it could expand its already expansive stimulus in the future to counter slowing exports and other threats to growth.