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Bank lending up 12%, money supply at P15.4 T — BSP
Big banks’ outstanding loans grew by 12 percent year-on-year in July, the same growth posted in June, based on Bangko Sentral ng Pilipinas (BSP) data.
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BIR, Customs get P3.5-B digitalization funds
The government’s two main tax agencies secured more than a quarter of the Marcos administration’s budget for information and communications technology (ICT) next year, the Department of Budget and Management (DBM) said.
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BSP forecasts 5.9%-6.7% August inflation
The Bangko Sentral ng Pilipinas (BSP) forecasts inflation for the month of August could hit a high of 6.7 percent or a low of 5.9 percent from actual rate of 6.4 percent in July.
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DOE taps advisers on sale of Shell stake in Malampaya
The Department of Energy (DOE) has tapped technical and financial advisers that will clear the way for the sale of the operating stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya asset to Prime Exploration Pte. Ltd., which is owned by billionaire Enrique Razon.
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Stocks fall on concern over rates
The PSEi continued to lose ground in line with the decline in US bourses due to worries over interest rates.
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BSP’s TDF attracts higher yields this week
The central bank’s term deposit facility (TDF) fetched higher interest rates on Wednesday, Aug. 31, with total bids amounting to P317.60 billion versus offer of P240 billion.
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MGen unit secures P2.65-B loan for solar project
PH Renewables, Inc. (PHRI), a subsidiary of MGEN Renewable Energy, Inc. (MGreen) of Manila Electric Company (Meralco), has secured P2.65 billion loan to bankroll the construction of its ongoing 75-megawatt ac (MWac) solar power project in Baras, Rizal.
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SEC permanently bars 3 illegal lenders
The Securities and Exchange Commission (SEC) has issued orders making permanent its cease and desist order against online lending operators Skymart, Withu, and Spendcash.
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Price of key farm produce rise—PSA
The Philippines Statistics Authority (PSA) has recorded marked increases in the retail prices of key agricultural commodities in the first few days of June alone.
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AirAsia PH boosts int’l flights for Q4
Budget carrier AirAsia Philippines is increasing its flights to four destinations in the region, in time for the peak travel season in the last quarter of 2022.
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No irregularity in standby funds—Pangandaman
The Department of Budget and Management (DBM) has shrugged off criticisms raised by some lawmakers against the hefty unprogrammed funds under the Marcos administration’s proposed national budget for next year.
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Telcos launch infra protection alliance
After local telcos’ loss of network equipment surged 59 percent year-on-year in the first seven months of 2022, they banded together to form the National Telecommunications Security Council (NTSC).
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Home Credit gears to become the ‘lifestyle partner’ of Filipinos, expands services to different sectors
Home Credit continues to expand across key categories, being present in more than 10,000 point-of-sales (POS) partners where customers can avail of installment plans and get the items immediately without hassle.