The Market Monitor Minding the Nation's Business

The ongoing trial of Truong My Lan, the 66-year-old chair of Vietnamese real estate giant Van Thinh Phat, has sent shockwaves through Vietnam’s legal landscape. Accused of embezzling an astronomical sum, her case is not merely about financial malfeasance; it symbolizes a nation’s struggle against corruption and its determination to build a transparent and accountable business environment. Lan’s alleged misdeeds, …

Philippine National Bank (PSE: PNB) recorded a consolidated net income of P18.0 billion in 2023, growing by 55 percent year-on-year on the back of robust net interest income and lower credit provisions.  Net core banking income, which excludes gains on sale of acquired properties, climbed by a record 156 percent year-on-year. This translated to an improved return on equity of …

The new Bank of the Philippine Islands (BPI) head office, designed by Aedas Singapore, won the Silver award for ‘Best Workplace Design’ at the 2023 Design Excellence Awards—an annual design competition organized by the Interior Design Confederation Singapore (IDCS). BPI aims to enhance collaboration, inspire creativity, and attract and retain talents by offering a workspace which supports employee satisfaction and …

EastWest delivered P6.1 billion net income in 2023, 32% higher from last year, on the back of sustained consumer loan growth and strong deposit generation. Return on equity (ROE) stood at 9.5%. “We witnessed significant growth in our major assets, our consumer loans portfolio. This translated to a remarkable jump in our net income as we doubled down on our …

San Miguel Food and Beverage Inc. (SMFB) ended 2023 with outstanding financial results, despite the challenges of an unpredictable macroeconomic landscape. Consolidated sales reached P379.8 billion, a 6% increase from the previous year, with all business units reporting growth in sales compared to 2022. This was attributed to improved volumes and pricing strategies. EBITDA was up 7% at P66.8 billion, …

The Philippines expects to forge commercially meaningful partnerships with US businesses and investors with the arrival to the country of an American trade mission this week, a trade official announced on Saturday. “There will be a high-level delegation comprised of 22 business delegates, C-level representatives from strategic sectors and iyong pag-uusapan po next week (this week) is of course how …

Continuing its commitment to social responsibility, Owndays Philippines– a leading Japanese eyewear brand–hosted its 2nd Cases for Change event last March 1, 2024 at their flagship branch in SM Megamall. The launch was filled with insightful stories and heartwarming testimonials, central to this year’s Cases for Change theme of Philippine Animal Well-Being. In her opening remarks, Ms. Jammie Gregorio, Owndays …

This coming hot summer, well-known Philippine beaches will be swarmed by local and international tourists. Some though want the serene quiet time while getting sand between the toes, exploring secrets of these tourist spots. Whether you’re just stopping over for a quick visit to the capital or looking for adventure in unique islands, consider these local hidden gems that shine …

The Department of Transportation (DOTr) pitched before the diplomatic community the viability of transport infrastructures for business opportunities to spur economic growth in the Philippines. Speaking before the World Federation of Consuls, Transportation Secretary Jaime J. Bautista said that an efficient transport system leads to economic growth. “The rapid recovery of international trade through an expanding network of air and …

The Department of Transportation (DOTr) will only expropriate properties affected by major rail projects such the Metro Manila Subway as last resort in resolving contentious right-of-way issues, according to DOTr Undersecretary for Rails Jeremy Regino. Usec Regino explained during a media briefing that expropriation of property would be the government’s last recourse should negotiations with affected property owners face an …