The Market Monitor Minding the Nation's Business

The Energy Regulatory Commission (ERC) imposed a penalty amounting to P15.5 million on ten generation companies for exceeding the maximum yearly outage limit in 2021. “We have been on the watch for gencos who exceed allowed unplanned outage days,” said ERC Chairperson and Chief Executive Officer Agnes VST Devanadera.  “We are constantly monitoring and reviewing the weekly reports being submitted by …

The country will import sugar to stabilize domestic prices that increased despite stable local production. This comes after the earlier importation of rice, meat products and fish. The Sugar Regulatory Administration (SRA) said 200,000 metric tons of sugar will be imported. “SRA received instructions from the Department of Agriculture to temper the current level of high local sugar prices that …

Cash dividends paid out by listed companies to common shareholders last year rose 17.3% to P402.18 billion from 2020’s P342.88 billion, translating to dividend yields of 2.58% and 2.50%, respectively, Philippine Stock Exchange (PSE) data showed. For PSEi companies, cash dividends paid by 28 of the 30 main index members amounted to P157.58 billion, giving common shareholders a 1.72% dividend …

More Filipino employees prefer working for companies with a good employee retirement plan, but only one in five local firms have the capacity to do so, according to a recent survey by Mercer. In its latest Retirement Survey Report, Mercer said employers are seeing the lack of pre-retirement support as a growing concern as “more employees prefer to work for …

Bangko Sentral ng Pilipinas (BSP) issued additional clarification and directives to all BSP supervised financial institutions (BSFIs) in handling targeted financial sanctions (TFS) that match their risk profiles. Memorandum Order M-2022-007 issued Feb. 2, BSP Deputy Governor Chuchi G. Fonacier said banks and non-banks must carefully consider and study the TFS guidelines that were issued by the BSP in 2021 …

The Department of Finance (DOF) said it expects a sustained recovery in trade and economic activities this year, following the move by Congress to amend the Retail Trade Liberalization Act, Foreign Investment Act and the Public Service Act. The DOF said: “The recently approved amendments to the Retail Trade Liberalization Act, along with other economic liberalization initiatives such as the …

Chinese President Xi Jinping officially opened the Beijing Winter Games, amidst a burst of fireworks marking the start of an Olympics whose preparations were beset by the COVID-19 pandemic and criticism over human rights abuses. The opening ceremony February 4 at the Bird’s Nest stadium – venue of Beijing’s 2008 Summer Games – was filled with imagery of ice and …

Lone Philippine representative to the 2022 Beijing Winter Olympics Asa Miller thanked Tokyo Olympics gold medalist Hidilyn Diaz for inspiring her before participating in the Chinese capital. “It really means a lot to me,” Miller related Diaz’s message of motivation and patience. “She’s really an amazing athlete. I am really super motivated after watching her capture the Olympic gold medal …

Alen Stajcic, Philippine women’s national football team coach, plans to use the next 18 months preparing for the 2023 World Cup instead of basking in the historical feats of his team. Philippines recently defeated South Korea, 2-0, in the semifinals of the Asian Football Confederation Women’s Asian Cup. Stajcic said, “I think the win against Thailand was a massive feather …

The Philippine Basketball Association (PBA) has approved allowing the inclusion of several TNT Tropang Giga players to represent the country in the 2023 FIBA World Cup qualifiers later this February. PBA chairman Ricky Vargas said the board of governors unanimously agreed to approve Gilas Pilipinas and Tropang Giga head coach Chot Reyes’ proposal of fielding several TNT players for the …