The Market Monitor Minding the Nation's Business

MR.DIY companies celebrated remarkable achievements at the prestigious Creador ESG Impact Awards 2024 held in December at Sofitel KLDamansara, with three MR.DIY companies clinching top honors across variouscategories.  This recognition underscores their unwavering commitment to Environmental Transformation, Community and Social Impact, and Responsible Supply Chain. MR.DIY Philippines won the award for its Responsible Supply Chain initiative which champions ethical sourcing. …

The Philippine Statistics Authority (PSA) reported a slight decline in the country’s trade deficit for November 2024.  The balance of trade in goods, which measures the gap between exports and imports, posted a deficit of USD4.767 billion, marginally lower than the USD4.769 billion recorded in November 2023. Export sales for November reached USD5.69 billion, reflecting an 8.7 percent drop compared …

Department of Energy (DOE) Secretary Raphael Lotilla assured that the agency’s decision to terminate idle renewable energy (RE) contracts will not deter foreign investors but instead foster a more dynamic and efficient RE sector in the Philippines. Speaking at a press briefing in Taguig City last week, Lotilla emphasized that the termination of non-performing contracts aims to attract serious investments …

The Philippine digital lending market is poised to surpass the USD1 billion mark in the latter half of 2025, according to a recent study by licensed online lender Digido. The report highlights the accelerated growth of digital lending in the country, driven by increasing consumer adoption of online technologies. In 2023, the market for non-bank digital loans was valued at …

The Social Security System (SSS) has announced that its contribution increase will secure the fund’s long-term viability, extending its life until 2053. Effective this month, the 1-percent rate hike is mandated under Republic Act 11199, or the Social Security Act of 2018.  The adjustment raises the contribution rate from 14 percent to 15 percent, accompanied by changes in the minimum …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has announced that the central bank is exploring a subscription-based model for digital transaction fees to enhance the efficiency and inclusivity of the country’s payment systems. Speaking at a Rotary Club event in Makati City recently, Remolona explained the rationale behind the proposed shift.  “In a payment system, every additional participant …

Saturnino Mejia has been appointed as the new General Manager of the National Development Company (NDC), succeeding Antonio Mauricio, who has transitioned to the private sector. In a statement released Thursday, the NDC announced that Mejia officially assumed the role on December 16, 2024. Prior to his appointment, Mejia dedicated 25 years to the NDC as Assistant General Manager for …

Bank lending saw its most significant growth in nearly two years, and domestic liquidity also accelerated in November, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data released by the BSP on Friday revealed that lending by universal and commercial banks (U/KBs) increased by 11.1 percent in November, marking the highest growth since the 13.7 percent rise recorded in …

The Bangko Sentral ng Pilipinas (BSP) is expected to continue its easing cycle this year, though fewer rate cuts are anticipated following signals from the U.S. Federal Reserve about slowing its own rate cuts, according to BMI, a unit of Fitch Solutions. “The BSP is still on track to deliver another 25-basis-point cut at its next meeting. However, the overall …

The Philippines and Japan have extended their Bilateral Swap Arrangement (BSA), securing a deal valued at up to USD12 billion, effective from January 1, 2025, the Bangko Sentral ng Pilipinas (BSP) announced in a statement recently. This renewal was officially confirmed through the signing of the Fourth Amendment and Restatement Agreement of the Third BSA by representatives from the BSP …