The Department of Energy (DOE) announced that former DOE Undersecretary Sharon Garin has been officially inducted as the new Energy chief, following the oath-taking ceremony with President Ferdinand Marcos Jr. In a statement on Monday, July 14, Garin said that she would build on the work of former...
Amid rising concerns over online gambling, one of the country 's top economic officials proposed leveraging e-wallets as a tool for taxation. As President Marcos’ economic managers have yet to finalize their collective stance, Department of Economy, Planning, and Development (DEPDev)...
The inter-agency Financial Stability Coordination Council (FSCC) reassured that Philippine banks maintain robust capitalization and ample liquidity buffers, navigating through global and local challenges. The BSP said in a statement released on Monday, July 7, that during the FSCC’s meeting for...
Germany-based Deutsche Bank stated that the Bangko Sentral ng Pilipinas’ (BSP) cumulative 1.25-percent interest rate reductions have been unable to lift lending growth, as lower borrowing costs were not enough to outweigh persistent economic uncertainty. This follows BSP Governor Eli M. Remolona...
The Bangko Sentral ng Pilipinas is considering two more cuts to key borrowing costs, driven by easing inflation and an economic slowdown attributed to consumer and business uncertainty. Two cuts are “possible,” BSP Governor Eli M. Remolona Jr. told reporters on the sidelines of the 32nd BSP...
As part of its strategy to broaden its footprint, Antonio-led developer Century Properties Group Inc. is venturing to Mindanao for the first time, with the foray to be led by its housing unit PHirst Park Homes Inc. During the firm’s annual stockholders’ meeting, CPG President and Chief...
Economy, Planning, and Development Secretary Arsenio M. Balisacan has expressed confidence that the Philippine economy can accelerate to a growth rate of 5.5 percent to 6.5 percent after downscaling from the more ambitious growth target previously. Despite concerns of slower household consumption,...
Within the first half of 2025, the Century Properties Group’s first-home brand PHirst launched three new horizontal communities across Luzon, each one designed to offer Filipino families fully finished homes in masterplanned neighborhoods. The year opened with PHirst Centrale Batulao in Nasugbu,...
A dovish Bangko Sentral ng Pilipinas (BSP) may be constrained by skyrocketing global oil prices, which would further weaken the peso and could force a pause from further interest rate cuts, foreign banks said. In a June 23 report, MUFG Global Markets Research said that if world oil prices rise...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. warned that rising global oil prices and the peso’s depreciation streak could push inflation above five percent, a level last seen nearly two years ago. “We do scenario analysis today [Friday] in which we focus on particular risks....
While the Bangko Sentral ng Pilipinas (BSP) sees no need just yet to defend the Philippine peso amid global oil price risks, the plunging local currency may push monetary authorities into more cautious policy easing moving forward, economists said. Japanese financial giant MUFG Bank Ltd. said that...
Ayala Corp., the country’s oldest conglomerate, has successfully raised ₱20 billion from the issuance of preferred class “B” shares, which it listed on the Philippine Stock Exchange (PSE) on Thursday, June 19. The Zobel-led firm said in a statement that the offering attracted substantial...
