Business NEWS

BDO Unibank, MUFG Bank of Japan, and other leading Asian banks are advancing energy transition finance with the publication of the Asia Transition Finance Guidelines and the Asia Transition Finance Activity Report.

InLife to recruit 400 financial advisors from Cebu

The Bangko Sentral ng Pilipinas (BSP) is expected to continue raising its key policy rates in the final two months of the year in an attempt to tackle the faster than expected rate of increase in consumer prices.

The Bangko Sentral ng Pilipinas (BSP) is extending its prudential relief measure by relaxing the credit risk weight for loans to micro, small and medium enterprises (MSMEs) to ensure continued credit access while the economy is still recovering.

Central bank officials reiterated that despite its open foreign exchange (FX) market intervention to temper exchange rate spiral, it still does not target a peso level versus the US dolllar.

As opposed to rosy consumer expectations, business confidence dipped further due to weak peso, higher borrowing and inflation rates, affecting expansion and hiring plans for the last quarter of 2022 and in the next 12 months, according to a central bank survey.

espite high inflation and a depreciated peso, Filipino consumers have a more favorable outlook for the last quarter of 2022 and in the next 12 months on expectation of additional income and improved employment condition, according to the latest Consumer Expectation Survey (CES) of the Bangko Sentral ng Pilipinas (BSP).

Two funds managed by China Banking Corporation was recognized by the Chartered Financial Analyst (CFA) Society of the Philippines the Best Managed Fund in their respective categories.

While in New York along with the Marcos administration’s economic team, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla tried to assure US investors that the central bank will bring back inflation to within the target range by 2024, and vowed to temper peso depreciation.

The peso lost ground intraday to P58.50 versus the US dollar and closed to a new low of P58.49 on Thursday, Sept. 22, from its previous exchange rate of P58.

The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has again raised the key borrowing rate by 50 basis points (bps) on Thursday, Sept. 22, to 4.25 percent to ease pressures off the peso as well as ensure inflation will fall back to within the target by the second half of 2023 despite broadening price pressures.

State-run Social Security System (SSS) is looking for “generous” partners that are willing to subsidize the monthly contributions of workers in the informal economy and overseas Filipino workers (OFWs).

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said interest rate environment that still has some room for adjustment as the central bank pledged to do all that is needed to bring down the elevated inflation.

The rapid peso depreciation breached the P58 vis-à-vis the US dollar level on Wednesday, Sept. 21, with markets bracing for higher US Federal Reserve rates and the local central bank’s expected 50 basis points (bps) rate hike tomorrow, Sept. 22.

The continued depreciation of the Philippine peso against the US dollar does not mainly reflect fundamental weakness in the local currency, an economist from the Asian Development Development (ADB) said.

Affordable microinsurance products registered a double-digit growth in the first three months of the year driven by greater public awareness and easing quarantine restrictions, the Insurance Commission reported.

The peso depreciated to a new intraday low of P57.50 vis-à-vis the US dollar on Tuesday, Sept. 20, ahead of the anticipated central bank rate hike this week.

The Bangko Sentral ng Pilipinas (BSP) has approved changes in the establishment of digital banks and clarified prudential requirements, licensing and documentation.