Yields on short-term government borrowings were mixed as investors watch for clues concerning future Bangko Sentral ng Pilipinas and US Federal Reserve’s decisions. At an auction of Treasury bills on Monday, Aug. 8, the bellwether 91-day rate, which banks use in pricing their loans, dropped to...
The amount of subsidy the Duterte administration extended to government owned and controlled corporations (GOCCs) was slashed by half in the first semester, but bulk of it went to National Irrigation Administration (NIA). Data from the Bureau of the Treasury showed that financial support extended...
DOH The Department of Health (DOH) said that the US government recently donated different health equipment and logistic kits to the Philippines in order to boost the country's response against the Covid-19 pandemic. In a statement on Sunday, Aug. 7, the DOH said the US government donated 18,000...
Senator Jinggoy Estrada is seeking to pass a measure that would give bus drivers a minimum wage and fixed working hours, on top of government benefits. Under Senate Bill (SB) No. 48, bus operators must twice a month pay their drivers and conductors a salary that is not less than the minimum wage...
Former President Duterte borrowed P6.843 trillion in total during his six years in Malacañang, driven mainly by his administration’s borrowing spree at the height of the pandemic, data from the Bureau of the Treasury showed. From a government debt of P5.948 trillion when former President Duterte...
State-run Government Service Insurance System (GSIS) is encouraging its members and pensioners affected by the recent earthquake in Abra to avail of the pension fund’s emergency loan. Jose Arnulfo “Wick” Veloso, GSIS president and general manager, said their emergency loan program is now open...
The Indonesian government has awarded its highly-regarded token of service to two of the Philippines’ former highest military officials for the successful rescue of three Indonesian fishermen abducted by the Abu Sayyaf Group (ASG) in 2019. Indonesian President Joko Widodo, through Indonesian...
The Muntinlupa City government took eighth place among cities in the Philippines in collection efficiency of local revenues in 2021. The Bureau of Local Government Finance (BLGF) under the Department of Finance (DOF) announced the top performing provinces, cities, and municipalities based on...
The national government borrowed more than expected after interest rate for long-term Philippine debt papers declined. At a Bureau of the Treasury auction on Tuesday, Aug. 2, the coupon rate for the 3.5-year Treasury bond fetched at 5.250 percent, below the secondary market rate of 5.489 percent....
Philippine benchmark interest rates for six-month and one-year loans rose, while the yield for three-month papers dropped. On Monday, Aug. 1, auction of bellwether 91-day Treasury bill rate, which banks use in pricing their loans, dropped to 2.090 percent from 2.273 percent previously. The Bureau...
Parañaque City 1st District Representative Edwin Olivarez said the planned rightsizing of the bureaucracy by the Marcos administration must ensure that government agencies remain efficient and functional and must prioritize the welfare of government workers. Olivarez was elected chairman of the...
State-run Government Service Insurance System (GSIS) expressed willingness to manage the military and uniformed personnel (MUP) pension fund once it is enacted into law. Jose Arnulfo “Wick” Veloso, GSIS president and general manager, said pension fund is open to cooperate with the national...
