The Securities and Exchange Commission (SEC) has ordered Umeta Credit Lending Corp. to stop its unauthorized operation of unrecorded online lending platforms (OLPs)—FinLedger-Smart Ledger, Cash Twig, Meta Cash, and MorePautang-Loan Hub—and for engaging in unfair debt collection practices. In a...
Local stocks climbed for a third consecutive session Friday, Feb. 20, buoyed by the central bank’s recent pivot toward monetary easing and stabilizing currency. The Philippine Stock Exchange index (PSEi) gained 57.97 points, or 0.90 percent, to finish at 6,465.12. Financial stocks led the...
The Securities and Exchange Commission (SEC) is moving to overhaul the training requirements for corporate board members and executives, proposing a new set of guidelines aimed at aligning local boardrooms with international governance standards. The regulator released a draft memorandum circular...
The Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) are moving to revitalize the domestic capital market by introducing rules for Global Philippine Depository Receipts, which would allow local investors to trade foreign stocks in the local currency. SEC Chairman...
The Philippine Stock Exchange index (PSEi) declined for the third straight session on Monday, Feb. 16, as its investors cashed out before the Lunar New Year holiday and the Bangko Sentral ng Pilipinas ’ (BSP) policy meeting. The main index shed 16.03 points, or 0.25 percent, to close at...
Local stock market is poised to trade on expectations surrounding the Bangko Sentral ng Pilipinas’ (BSP) upcoming policy meeting, with investors looking for a pivot toward monetary easing. The Monetary Board’s decision and subsequent guidance will be crucial in determining whether the...
The Philippine Stock Exchange index (PSEi) fell on continued profit-taking on Friday, Feb. 13, after the government reported a steep fall in foreign investment pledges. The main index dropped 86.67 points, or 1.34 percent, to close at 6,384.58. Miners led the retreat across the board. Volume...
Ayala-led Bank of the Philippine Islands (BPI) raised ₱50 billion through an offering of social bonds, the lender’s largest-ever peso-denominated issuance as investors swarmed the deal. The final volume for the BPI SIGLA Bonds—an acronym for Supporting Individuals Grow, Lead, and...
Local equities snapped a two-day winning streak on Thursday, Feb. 12, as investors moved to lock in gains from recent rally, tracking the broader retreat in global markets following strong United States (US) labor data. The Philippine Stock Exchange index (PSEi) declined 27.57 points, or 0.42...
Local stocks extended a winning streak to a second session as strengthening peso lured investors back to the equity market, pushing the benchmark index to its highest level in nearly seven months. The Philippine Stock Exchange index (PSEi) advanced 24.22 points, or 0.37 percent, to settle at...
The PSEi surged as the stronger Peso and rise in foreign investments fueled today’s rally. The main index jumped by 125.44 points or 1.98 percent to close at 6,474.60 with the Services sector leading the charge across the board. Volume was weak though at 754 million shares worth P6.86 billion as...
The Securities and Exchange Commission (SEC) has penalized Global Dominion Financing Inc. for employing unfair and abusive debt collection practices through third-party agents amid tightening of oversight on the nation’s lending sector. In a formal order, the SEC’s Financing and Lending...
