The Market Monitor Minding the Nation's Business

The Manila International Airport Consortium (MIAC), a partnership among six leading Filipino conglomerates and US-based Global Infrastructure Partners (GIP), has submitted a P100-billion unsolicited proposal to upgrade the Ninoy Aquino International Airport (NAIA).  The consortium is made up of Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corporation, Asia’s Emerging Dragon Corporation, Alliance Global – Infracorp Development, Inc., Filinvest Development Corporation, and …

International passenger demand remained solid, driven by the robust recovery in leisure and business travel in Asia and globally, as opposed to global cargo market, which was lackluster, according to March 2023 traffic figures from the Association of Asia Pacific Airlines (AAPA).  The easing of travel restrictions, coupled with strong travel appetite, led to a 494.6% year-on-year increase in the …

Online travel platform Agoda has found that the Bacolod City in Negros Occidental is the country’s cheapest tourist destination.  Agoda analyzed the average room rates of tourist destinations for April 2023, and after crunching the numbers saw that rooms in Bacolod cost an average of P2,650.  Beyond affordable room rates, the company noted that Bacolod — coined the “City of …

Ford Philippines announced the winners of the 22nd Henry Ford Awards (HFA), the first and only program of its kind in the country that recognizes excellence in Philippine automotive journalism, recently at the Xylo at the Palace in Taguig City.  The awards night is the culmination of months of rigorous deliberations of over 200 entries submitted by members of the …

Suzuki vehicle owners are rejoicing with the opening of the Suzuki Auto Taguig which is situated on a 1,130 sq-meter lot with a showroom and a six-bay service area and right beside the big Vista Mall.  This is the 35th dealership of Suzuki Philippines Inc. (SPH), the country’s pioneer compact car distributor, located strategically at 1050D Levi B. Mariano Ave. …

The Bank of the Philippine Islands (BPI) is the very first bank in the country to stretch the financing of car loans to an amazing 7 years from the ordinary 5-year term.  This was revealed during the launch of the BPI Hot Summer Promo, one of the bank’s initiatives to support nation-building by enabling Filipino families to own their dream …

It was another busy but rewarding week for the National Commission of Senior Citizens (NCSC). On Tuesday, NCSC took part in the Inter-Government Agency MOU Ceremonial Signing for E-Governance with the Department of Information and Communications Technology (DICT) and other partner agencies for E-Governance at the Manila Marriott Hotel Pasay City. NCSC Chairman Franklin Quijano signed the Memorandum of Understanding …

After the declaration of Commissioner Romeo Lumagui, Jr. of an all-out war vs. Fake/Ghost receipts, he will launch another skirmish, this time against the Buyers. Notices will be served to shameless buyers who continuously patronize the fraudulent activities brought by these receipts.  The notices will be served by the National Task Force – Run After Fake Transactions (RAFT). Said task …

Department of Trade and Industry (DTI) Secretary Fred Pascual met with Australia’s Trade and Tourism Minister, Senator the Honorable Don Farrell and his delegation on 25 April 2023 to discuss enhancement of current relations in the context of ongoing discussions toward a strategic partnership.  Economic and trade relations with Australia are undertaken through bilateral and regional mechanisms such as the …

The Philippine Amusement and Gaming Corporation (PAGCOR) came up with another record-breaking income performance after it posted a total revenue of P17.70 billion for the first quarter of 2023, surpassing by 42.8% its P12.4 billion production during the same period last year.  Of the agency’s P17.70 billion income haul for the first three months of the year, P16.87 billion came …