The value of all ongoing foreign-assisted projects of the government increased by almost half last year after President Duterte augmented the country’s coronavirus response, the National Economic and Development Authority (NEDA) reported. In a statement, Socioeconomic Planning Secretary Karl...
*STORY UPDATE* The freeze orders of the Court of Appeals on the accounts of Julie Hao Gamboa, also known as Kimberly, has since been lifted. Based on the documents provided recently by Ms. Gamboa, her bank branch notified her of the lifting of the frozen accounts on December 9, 10, and 13, 2021,...
Bank of the Philippine Islands, through BPI Foundation, was recognized as the “Best Bank for Corporate Social Responsibility (CSR) in the Philippines" by the Asiamoney Best Bank Awards 2021. This is for the bank’s role in the country's push for financial inclusivity and the support it has given...
The Anti-Money Laundering Council may have hinted Thursday, Sept. 23 that it has started the “first stage” in determining possible money laundering activities involving Pharmally Pharmaceuticals. House of Representatives plenary This after Quirino Rep. Junie Cua, vice chairman of the House...
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said that big banks’ capital adequacy ratio (CAR), a measure of lenders’ solvency, improved to 17.6 percent in the first...
Union Bank of the Philippines (UnionBank) was named "Best Bank for SMEs" at the recent Asiamoney Best Bank Awards 2021, besting many other Philippine banks to take home the prestigious accolade for the second year in a row. The "Best Bank for SMEs" accolade is awarded by Asiamoney to banking...
The Asian Development Bank (ADB) maintained the economic growth forecasts for the Philippines driven by the government’s infrastructure projects, renewed consumer spending and vaccination program. ADB Logo In the September update of the ADB’s flagship economic publication, the Manila-based...
The construction of the North-South Commuter Railway (NSCR) Extension, the Philippines’ first airport-bound highspeed railway, will create 10,000 jobs and cut down travel time between Metro Manila and Clark to only about an hour, Japanese Ambassador to Manila Koshikawa Kazuhiko said over the...
Asia United Bank announced the recent passing of its Director and Vice Chairman Ramon Y. Sy at the age of 91. “A pillar in the banking industry, Mr. Sy joined AUB in March 2012 as Vice Chairman,” the bank said in a statement. AUB Vice Chairman Ramon Y. Sy It noted that “He was instrumental...
The Senate has passed on third and final reading a bill that would amend the chapter of the Philippine Veterans Bank to ensure its financial viability and expand its beneficiaries. Senator Grace Poe (Office of Sen. Grace Poe/MANILA BULLETIN File Photo) Voting 23-0-0, members of the upper chamber on...
Moody's Investors Service has affirmed the investment grade credit rating, with stable outlook, of China Banking Corporation (China Bank) on the back of the Bank’s strong capitalization, profitability, and liquidity amid the COVID-19 pandemic. 31493 In its September 3, 2021 report, Moody’s...
Struggling flag-carrier Philippine Airlines (PAL) will not get any financial help from government financial institutions anytime soon, the Department of Finance (DOF) said Thursday, Sept. 9. During the virtual Senate briefing, Finance Secretary Carlos G. Dominguez III said that government-owned...
