Pangilinan-led PXP Energy Corporation is seeking the imprimatur of the Philippine government as to the next steps it must pursue relative to its joint exploration deal with China National Offshore Oil Corporation (CNOOC) for oil and gas exploration at the Recto Bank offshore northwest Palawan...
The World Bank has approved a loan to the Philippines to improve its customs administration, reduce transaction costs as well as enhance predictability and transparency of the clearance process at the country’s borders. In a statement, the Washington-based financial institution said it...
With only about two months left in 2020, the Land Bank of the Philippines (LANDBANK) is still targeting to end 2020 with slightly higher amount of loans lent to the agriculture sector. In a statement, LANDBANK expects to further expand its agricultural loan portfolio to P245 billion by the end of...
Security Bank Corporation (SBC) has sealed a strategic partnership with Thailand’s Bank of Ayudhya, commonly known as Krungsri, with the sale of half of consumer finance subsidiary SB Finance Company, Inc. In a disclosure to the Philippine Stock Exchange, PSBank said Krungsri has acquired a...
Pangilinan-led firm PXP Energy Corporation indicated that it already received formally the ‘resume-to-work’ notice form the Department of Energy (DOE), allowing it to recommence extended seismic survey and exploration activities at its Service Contract (SC) 72 within the Recto Bank area along...
Keeps accommodative policy MB File Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said he is seeing continued demand for loans and banks’ “appetite” to lend despite that loan growth slowed in August because of risk aversion during the pandemic. Big banks’ outstanding loans as...
The Philippine National Bank (PNB) is thinking of putting up a digital bank either as a subsidiary or stand-alone unit, according to its president and CEO Jose Arnulfo “Wick” Veloso. PNB president and CEO Jose Arnulfo “Wick” Veloso “We’re discussing internally with the...
The Development Bank of the Philippines (DBP) is now working with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) for a financial assistance scheme to help transport providers get back on their feet. The assistance includes government...
WASHINGTON, Oct 14, 2020 (AFP) - The world's two dominant emergency lenders opened their annual meetings on Wednesday with a renewed call for the wealthy to help the poorest deal with the ravages of the coronavirus pandemic, within national borders and globally. (FILES) In this file photo...
Bank of Philippines Islands (BPI), the country’s leading commercial bank, said more businesses need to digitalize on increasing demand for cashless and cash lite transactions. BPI Transaction Services Head Ana Sison noted that many traditional businesses are ill-prepared to adjust to the...
Economists from Japan-based MUFG Bank Ltd. see continued strong peso vis-à-vis the US dollar despite the pandemic-induced economic recession and increasing COVID-19 cases which is the highest in the region. MUFG analyst Sophia Ng for Global Markets Research forecasts the peso to keep its strength...
The Development Bank of the Philippines (DBP) signed a P5.7-billion long-term loan agreement with a subsidiary of the country's biggest steel manufacturer, Compostela Steel Inc. (CSI), for the construction of its largest facility in Compostela, Cebu. CSI, a subsidiary of Steel Asia Manufacturing...
