The Market Monitor Minding the Nation's Business

The Philippine Postal Corporation (PHLPost) warned the public not to engage or click the link on messages sent by scammers online using the name and logo of PHLPost. PHLPost will not send any messages via text/email or online related to a mail or parcel to be received, asking to confirm their address and banking details on a link provided and …

By Rose de la Cruz If local government units and the Metro Manila Development Authority are not agreeable to having e-bikes, e-trikes and escooters plying the main roads (for supposedly causing accidents and because they are unregistered, so it is obviously the negligence of land transport authorities) then it must allow these units to ply within vast campuses like the …

The Land Bank of the Philippines (LANDBANK), the Overseas Filipino Bank (OFBank), and the Department of Migrant Workers (DMW) have joined forces to expedite the delivery of indemnity claims to Overseas Filipino Workers (OFWs) displaced by the bankruptcies of Saudi Arabian construction companies in 2015 and 2016. The collaboration will integrate and streamline the processes of LANDBANK and OFBank with …

Foreign direct investment (FDI) net inflows sustained its growth momentum in December 2023, increasing by 29.9 percent year-on-year to reach US$826 million from the US$636 million net inflows in December 2022. FDI increased mainly on the back of the 86.2 percent growth in nonresidents’ net investments in debt instruments to US$527 million from US$283 million in the comparable month in 2022. Similarly, reinvestment …

Department of Trade and Industry (DTI) Secretary Fred Pascual underscored the invaluable contribution of the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. (FFCCCII) to the Philippines’ socioeconomic development during its 70th Anniversary Gala Night held at the SMX Convention Center, Mall of Asia Complex, on 09 March 2024. “In a world driven by relentless change, the Federation’s unwavering commitment …

The Department of Trade and Industry (DTI) MIMAROPA Regional Office has issued a bulletin announcing price freeze on essential commodities in the municipalities of Bulalacao and Mansalay due to severe and prolonged drought. Based on two separate Sangguniang resolutions, the municipalities of Bulalacao and Mansalay in Oriental Mindoro, have declared a state of calamity due to drought. In view of …

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 …