The Philippine banking system’s assets grew steadily amid the pandemic, it went up by 3.9 percent year-on-year to P19.393 trillion as of end-April from P18.665 trillion, based on Bangko Sentral ng Pilipinas (BSP) data. The end-April total banking assets is however lower compared to end-March’s...
ERC hints ‘pricing play’ The country’s giant power firms have been tagged as the culprits in last week’s rotational brownouts with “forced outages’ of their power plants going beyond the time allowance prescribed by the Energy Regulatory Commission (ERC). In a Congressional hearing on...
The Philippine Coast Guard (PCG) has exhibited its floating and aerial assets to the new members of the PCG Auxiliary Executive Squadron off Manila Bay waters. PCG Commandant Admiral George Ursabia Jr. said the exhibition was held to boost the morale of the Coast Guard units that are working to...
President Duterte floated again on Tuesday, May 18, the possibility of selling government‘s properties to augment the available funds to respond to the coronavirus disease (COVID-19) pandemic. President Rodrigo Duterte delivers his public address on May 18, 2021 (RTVM Screenshot) But this time,...
Pure fiber data network and internet service provider Converge Information and Communications Technology Solutions, Inc. has expanded its fiber assets to serve another million customers this April and is on track to cover 55 percent of Philippine households by 2025, Founder, CEO, and Executive...
The Philippine Coast Guard (PCG) is recruiting at least 4,000 personnel and preparing more ships to increase the frequency of its maritime patrols in the West Philippine Sea (WPS). PCG Spokesperson Commodore Armand Balilo said the resumption of the nationwide recruitment is still being finalized...
The Commission on Audit (COA) has questioned the Davao City government’s assets amounting to more than P9.48 billion or 40 percent of its total assets recorded as of Dec. 31, 2020 as well as its millions of coronavirus disease (COVID-19) disbursements last year. COA (Manila Bulletin File Photo)...
Development Bank of the Philippines (DBP)’s total assets reached P1.04-trillion last year, up 37 percent from P761.24 billion in 2019, as deposits grew 47.6 percent to P817.9 billion and investments increased 26 percent to P260.1 billion. Development Bank of the Philippines headquarters in Makati...
A Chinese firm has already dropped out of the Malaya thermal power facility negotiated sale, but four others are still in the running, giving hopes to state-run Power Sector Assets and Liabilities Management Corporation (PSALM) that its long-wished for privatization of the 650-megawatt facility...
Diversified conglomerate San Miguel Corporation (SMC) is inclined to resolve at the negotiating table the P23.94 billion billing dispute of its subsidiary South Premiere Power Corporation (SPPC) with state-run Power Sector Assets and Liabilities Management Corporation (PSALM) for the 1,200-megawatt...
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
The Securities and Exchange Commission (SEC) is seeking public comments for the draft Implementing Rules and Regulations (IRR) of Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) Act, a critical economic measure in the Philippines’ economic recovery. In a...
