The Philippine government has partnered with BDO Unibank Inc. and US Agency for International Development (USAID) to launch a massive financial education campaign among fishermen nationwide. A statement released on Monday showed that the Department of Agriculture (DA), through the Bureau of...
The PSEi managed to wipe out early losses to end in positive territory as investors were quick to buy back shares. The main index inched up by 5.30 points or 0.08 percent to close at 7,024.48 with only the Property and Holding Firms counters retreating. Volume improved to 29.55 billion shares worth...
The Bangko Sentral ng Pilipinas (BSP) has lowered the minimum size of investment management account (IMA) held by banks and non-banks to just P100,000 from P1 million. The BSP’s Monetary Board approved Circular No. 1109 during its regular meeting last week. The new circular not only reduced the...
The auction of Bangko Sentral ng Pilipinas’ (BSP) 28-day bills had a higher offer of P120 billion last Friday and it was fully awarded with tenders amounting to P148.81 billion. The bids were lower compared to January 29’s P150.90 billion. The offered volume previously was P100 billion....
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the expected rising inflation – mainly temporary and are coming from supply-side pressures -- does not warrant a monetary policy response, at least not yet. “The projected uptrend in inflation is seen to be temporary,”...
The local stock market ended the week on a high note despite the inflation rate rising faster than expected. The main index jumped 115.43 points or 1.67 percent to close at 7,019.18 as share prices rose across the board led by the Property sector. Photo credit: PSE Information Desk However, volume...
The Bangko Sentral ng Pilipinas (BSP)-led Financial Inclusion Steering Committee (FISC) is strongly urging the quick approval of the proposed Open Access in Data Transmission Act and the signing of an executive order (EO) for satellite-based internet connectivity to accelerate the country’s shift...
The Philippine Stock Exchange Index (PSEi) moved up as investors started buying again on improving sentiment. PSE file photo The main index gained 44.29 points or 0.65 percent to close at 6,903.75 with only the Industrial and Services counters declining. Volume was a little higher at 36.2 billion...
For the first time since late 2006, big banks’ outstanding loans declined by 0.7 percent year-on-year in December 2020 during the initial year of the COVID-19 pandemic which pulled the economy into a recession. Total bank lending net of banks’ reverse repurchase (RRP) placements with the Bangko...
The central bank’s term deposit facility (TDF) auction was still oversubscribed but results were mixed while yields continue to decline. “There was a slight undersubscription in the 7-day TDF, receiving bids 0.88x the offer volume. Meanwhile, the 14-day TDF was oversubscribed with bids 1.16x...
The Philippines’ balance of payments (BOP) surplus surged to an all-time high of $16.02 billion in 2020 on the back of higher reserves due to more net foreign borrowings by the National Government (NG) last year, and weak import demand because of the COVID-19 pandemic which constrained economic...
The country’s external debt service burden fell to $6.09 billion as of end-October 2020 or 16.6 percent lower from same time in 2019 of $7.30 billion, data from the Bangko Sentral ng Pilipinas (BSP) show. Principal payments dropped 9.95 percent to $4.15 billion from $4.61 billion while interest...
