The Bangko Sentral ng Pilipinas (BSP) said it has absorbed P2.1 trillion of market liquidity or excess money as of end-March to help keep inflation down. Its term deposit facility (TDF) continues to be the BSP’s main liquidity management tool and as the BSP mops up more liquidity in the system,...
Four major foreign banks will finance businessman Dennis Uy’s $460 million acquisition of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field facility. Highly placed sources from Singapore...
PEACE-MAKER Jose de Venecia Jr. Former Speaker of the House (Remarks delivered by Former House Speaker Jose de Venecia at the 75 th Anniversary of the National Council of Women of the Philippines (NCWP) on June 4, 2021.) To the officers and members of the National Council of Women of the...
The World Bank will provide additional financing and grant to increase rural incomes as well as enhance farm and fishery productivity in the targeted areas in the Philippines. In a statement, the Washington-based multilateral institution said on Friday, June 18, that it approved $280 million...
The Bank of the Philippine Islands (BPI) Foundation is planning to set up foodsheds in different locations in the country to provide a livelihood to communities. As a start, BPI Foundation has partnered with the World Wide Fund for Nature (WWF) Philippines and the Bank of the Philippine Islands...
The World Bank said the Philippines needs to invest more in programs tackling childhood undernutrition to eliminate a “silent pandemic” afflicting many of the country’s poor and vulnerable population. In a World Bank report entitled “Undernutrition in the Philippines: Scale, Scope and...
The World Bank has hailed the “exceptional performance” of Department of Social Welfare and Development’s (DSWD) Kapit-Bisig Laban sa Kahirapan - Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) National Community-Driven Development Program (NCDDP) in providing...
State-run Land Bank of the Philippines has ramped-up efforts to bring more unbanked Filipinos into the formal banking system to support the national government’s financial inclusion program. The country’s second largest bank in terms of assets reported that it has onboarded more than 3.7...
The World Bank has expressed fear that the forthcoming transfer of some national government’s responsibilities to local executives may hamper the delivery of basic services to the public. In a statement released by the Washington-based financial institution on Thursday, June 10, the bank noted...
The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill...
Land Bank of the Philippines said its profit has slightly improved in the first three-months of the year, placing the government-run lender on track to meet its full year target despite the continuing challenges set by the pandemic. In a statement, Cecilia C. Borromeo, Land Bank president and chief...
The World Bank expects the Philippine economy will recover at a much slower pace than initially estimated due to resurgence of coronavirus infections and prolonged movement controls that held back the nation’s early signs of a rebound. The Washington-based financial institution on Tuesday, June...
