Coming in the heels of its record performance last year, Asia United Bank (AUB) is confident that it will register a stronger financial performance in 2025 despite geopolitical and economic headwinds buffeting global markets. “We look to 2025 as a stronger year for the country, for the banking...
The Philippine peso is expected by Japanese financial giant MUFG Bank Ltd. to linger at the ₱56 level against the United States (US) dollar in the third quarter of 2025 before appreciating until early next year. In its latest Foreign Exchange Outlook report dated July 1, MUFG’s research arm...
As widely expected, the Philippines remained classified as a lower-middle-income country (LMIC) after narrowly missing the lowered threshold to achieve upper-middle-income country (UMIC) status, based on the World Bank’s latest country income classification. The latest data released by the...
The Civil Service Commission (CSC) is expected to kick off its planned modernization activities, which will be funded by a World Bank loan, this July. In a June 30 implementation status and results report, the World Bank said that the CSC’s Philippines Civil Service Modernization Project is...
The world’s multilateral development banks (MDBs) have reaffirmed their commitment to advancing key infrastructure projects, including the Association of Southeast Asian Nations (ASEAN) Power Grid, by streamlining co-financing processes and expanding tools like local currency lending and foreign...
A slightly higher inflation rate that remains below two percent in June would allow the Bangko Sentral ng Pilipinas (BSP) to cut interest rates some more in August, economists said. In a June 27 report, Deutsche Bank Research economist Junjie Huang said headline inflation could have inched up to...
Despite delays, the Metro Manila flood control project being funded by loans from the Washington-based World Bank Group (WBG) and the China-led Asian Infrastructure Investment Bank (AIIB) has so far benefitted over half a million residents in flood-prone areas. “To date, more than 600,000 people...
Aboitiz-led Union Bank of the Philippines (UnionBank) has raised ₱16 billion from its upsized, dual tranche offering of peso-denominated fixed-rate bonds under its ₱100-billion PHP bond program, marking its return to the domestic capital markets since 2023. In a disclosure to the Philippine...
The Philippines is seeking a World Bank loan worth billions of pesos to enhance technical-vocational education and training (TVET) in the country. In a concept document dated June 24, the World Bank said the investment project financing (IPF) for the proposed $250.625-million (over ₱14-billion)...
A power bank exploded at the Roxas Airport in Capiz province on Tuesday, but no injury was reported, the Civil Aviation Authority of the Philippines (CAAP) said. The 72,000 milliampere-hour power bank was detected inside the baggage of a Manila-bound passenger during initial screening. It exceeded...
Philippine Veterans Bank (PVB) reported that it is on track to more than double its net income to ₱734 million in 2025 as it generated earnings of ₱114.3 million in the first quarter of the year. During the bank’s annual stockholders’ meeting, Veterans Bank President and CEO Eulogio...
A bill supported by United States (US) President Donald Trump, currently pending approval in the US Senate, would likely only minimally reduce remittances to the Philippines as more Filipinos who used to work overseas have returned home, according to Deutsche Bank Research. In a June 20 report,...
