The Duterte administration has tapped anew the overseas debt markets to bridge the government’s wider budget deficit and cushion the impact of the COVID-19 pandemic, the Bureau of the Treasury announced. The national government is offering to overseas investors its 10.5-year and 25-year...
Credit card users will have lower billing statements after November 3 with the adoption of ceilings on interest rate, finance charges and fees on all credit card transactions. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Starting on this date, interest or finance...
The credit card industry, like many other sectors, is no stranger to the adverse effects of the country’s widespread lockdown. As different types of businesses were forced to stop operations, credit card usage also slumped this year. As economic challenges continue to pile up, unemployment rates...
Various countries around the world have begun to ease up on lockdown protocols previously adopted to reduce the transmission of the Covid-19 and ease the burdens of admissions in the struggling health systems. Among these nations, the Philippines is promoting travel once again, with the recent...
State-run Land Bank of the Philippines (LandBank) committed to support more farmers' groups after extending a total of P20.86 billion in outstanding loans to as many as 1,081 cooperatives and farmers’ associations as of end-August. LandBank President and CEO Cecilia C. Borromeo In a statement,...
The Philippine peso is heading for its biggest quarterly gain in a decade and still has scope to appreciate due to positive fund flows, according to Credit Agricole SA and Nomura Holdings Inc. The local currency has now strengthened 4.6% this year, beating all its developing-nation counterparts...
The banking community reiterated Friday that as they were consulted by the Bangko Sentral ng Pilipinas (BSP) before putting a limit on credit card rates and fees, they are supporting this move to “ease the burden” of cardholders amid the public health crisis. “We support this initiative by...
