Japanese financial giant MUFG Bank, Ltd, now sees the Philippine peso weakening at a deeper level, as the sudden shift in the Bangko Sentral ng Pilipinas’ (BSP) tone has also made the market more expectant of about two additional cuts. “We now pencil in the BSP cutting rates to 4.25 percent by...
Japanese financial giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to maintain the key policy rate at five percent throughout 2025 but anticipates the central bank will reduce it by another one percentage point (ppt) to four percent in 2026. Based on MUFG’s Sept. 24 report,...
Hong Kong-listed CSC Holdings Ltd., through CS Capital Investment Pte. Ltd., has completed its acquisition of a 26.3 percent stake in the Cabagangon group’s Citystate Savings Bank, Inc. In a disclosure to the Philippine Stock Exchange, CSBank announced that it was informed of the completion of...
Despite challenges faced by the local cement industry, Sumitomo Osaka Cement Co. Ltd. of Japan is acquiring a 15-percent stake in Phinma Corp.’s subsidiary Philcement Corp. Phinma disclosed to the Philippine Stock Exchange (PSE) that Philcement has signed a share subscription agreement with...
Japanese financial giant MUFG has forecast the Philippine peso to fare steadily against the United States dollar through the second quarter of 2026, as the latter bears the brunt of U.S. President Donald Trump’s attack on the Federal Reserve’s independence. MUFG projected the peso’s current...
Consumer prices may have risen at a faster pace in August, the central bank projected, as recent typhoons and excessive rainfall likely stoked the cost of basic goods, especially food items. Last month’s inflation is expected to clock within the range of one percent to 1.8 percent, according to...
Hotel101 Global Pte. Ltd., the Singapore-headquartered subsidiary of NASDAQ-listed Hotel101 Global Holdings Corp., has entered into definitive agreements to develop two hotel projects in Cambodia worth ₱6.3 billion. Hotel101’s parent company DoubleDragon Corp. reported to the Philippine Stock...
Despite recent interest rate cuts by the Bangko Sentral ng Pilipinas (BSP), inflation hitting nearly six-year lows in recent months, and still-muted second-quarter growth in some sectors, further reductions in key borrowing costs are seen as necessary. “We think the second-quarter GDP [gross...
The Philippine economy is enjoying low inflation and accelerated growth amid a manufacturing rebound plus improved consumer spending in the second quarter of 2025, according to global investment banking giant Goldman Sachs. In an Aug. 1 report obtained by Manila Bulletin, Goldman Sachs Economics...
After performing among the worst of Asian currencies last week, the Philippine peso is still expected by Japanese financial giant MUFG Bank Ltd. to gradually appreciate and return to the ₱56:$1 level next year. “All Asian currencies depreciated against the United States (US) dollar [last] week,...
Citing a lackluster performance that the Philippine economy has been showing since its recovery from the Covid-19 pandemic, climbing to the high-income-status target 15 years from now could be impossible, the country’s chief socioeconomic planner stated. Department of Economy, Planning, and...
While the Philippines’ climb to upper-middle-income-country (UMIC) status is attainable in the medium term, the country will be surpassed by neighboring Vietnam, which would jump to become a high-income economy 15 years from now, according to Singapore-based DBS Bank Ltd. The Philippines,...
