The Market Monitor Minding the Nation's Business

Philippine economic growth likely settled within the 6.0 to 6.5 percent range in the third quarter of the year, an economist said on Friday. Seasonal increase in importation, manufacturing and other production activities in preparation for the increased demand during the holiday season likely helped boost growth during the quarter, Rizal Commercial Banking Corporation chief economist Michael Ricafort said in …

The Bangko Sentral ng Pilipinas (BSP) announced on Friday that it has reduced the total offering of its BSP bills (BSPB) to P160 billion, down from P190 billion in the previous week. This adjustment was made in response to evolving market conditions and liquidity management needs. In a statement, BSP Deputy Governor Francisco Dakila Jr. explained that the allocation for …

The Philippine financial sector’s total resources increased by 9.20 percent as of end-August this year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP last week showed that the total resources of banks and non-bank financial institutions reached P32.14 trillion in August, higher than the P29.43 trillion in August 2023. Banks’ total resources amounted …

The Bangko Sentral ng Pilipinas (BSP) announced that its coin deposit machines (CoDMs) have collected over P1 billion worth of coins since their launch, underscoring the project’s success in recirculating idle currency.  As of October 11, 2024, the total coin deposits have reached P1.008 billion, with more than 260 million individual coins processed across 240,000 transactions. The CoDM initiative, launched …

Philippine National Bank (“PNB”) has successfully tapped into international markets with a US$300 million benchmark-sized Sustainability Regulation S offering of 5-year senior notes (the “Notes”) under its US$2 billion Euro Medium Term Note programme (the “Programme”). PNB conducted a two-day roadshow starting on October 14, 2024 to engage with potential investors. The 5-year bond was priced at T+102 basis points, …

One fine Sunday recently, we discovered this tasteful Mediterranean restaurant in Molito Lifestyle Center along Madrigal Avenue in Alabang, Muntinlupa. Although a bit far off from where we live in Quezon City, we ventured into what we considered foreign territory, not being southerners. The trip to The Olive Tree in Alabang was preceded by an early morning mass, followed by …

Cine Europa, the longest-running European film festival in the Philippines, returns to Shangri-La Plaza as it continues to bring inspired experiences by giving Filipino cinephiles access to European cinema. Screening at the Shang Red Carpet Cinema from October 18 to 27, the festival features 20 must-see contemporary films from the Old Continent. Hosted in partnership with the Delegation of the …

Taal Vista Hotel is excited to announce its upcoming event, “Pumpkin-Tastic Wonderland,” scheduled on  October 26, 2024, from 2 to 5 PM. This enchanting Halloween celebration promises an afternoon filled with fun and festivities for families and children of all ages. Children aged 0-2 years can attend free of charge with a paying adult, while children aged 3-12 years will …

By Jinky Jorgio The Samal Island-Davao City Connector (SIDC) Project being undertaken by the Department of Public Works and Highways (DPWH)  is making significant progress. In a site inspection report to DPWH Secretary Manuel M. Bonoan, Senior Undersecretary Emil K. Sadain said that bored piling works for the foundation of the land and marine viaducts as well as the main …

Discussions are underway to establish a seaport within the ecozone of Casiguran, Aurora, with the Aurora Pacific Economic Zone and Freeport Authority (Apeco) spearheading the initiative in partnership with a New York-based company and the Department of National Defense (DND). Apeco President and CEO Gil Taway IV revealed in a recent interview that he is set to embark on a …