Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group...
Senator Leila de Lima is urging the Senate to look into the validity of the reported planned merger of two state-owned banks—the Landbank of the Philippines (Landbank) and United Coconut Planters Bank (UCPB)—as well as into the anomalies that may arise if the government’s plan proceeds. De...
The Department of Social Welfare and Development (DSWD) has extended financial assistance to two soldiers who were wounded during separate encounters with terrorist groups in Northern Mindanao. Department of Social Welfare and Development Regional Director Mari-Flor A. Dollaga hands over financial...
The local stock market dropped on late selling on news of the local transmission of COVID-19 Delta variant towards the end of the session. The main index shed 34.10 points or 0.51 percent to close at 6,693.83 as the Mining and Oil counter plunged while the Services sector was the only index to hold...
The local stock market fell again after a brief respite the previous trading day. The PSEi dropped 107.48 points or 1.57 percent to close at 6,727.93 as Holding Firm led the retreat while Mining and Oil was the only sector that managed to advance. Volume remained low at 982.45 million shares worth...
Financial technology (fintech) companies in the Philippines are poised to overtake brick and mortar banks, debt-watcher Moody’s Investors Service said. In a commentary on Thursday, July 15, Joyce Ong, Moody’s analyst said that fintech has “abundant room” for growth in the country as 70...
Two years after its Financial or Technical Assistance Agreement (FTAA) with the Philippine government expired, Australian-Canadian miner OceanaGold Corporation (OceanaGold) is now allowed to resume the operations of its gold-copper mining project in the country until 2044. This is on condition...
The local stock market recovered some of the previous day’s losses after some major investors picked up bargains. PH STOCKS The main index rose 40.28 points or 0.59 percent to close at 6,835.41 as Holding Firms led the bounce while the Property and Services counters continued to retreat. Volume...
The Armed Forces of the Philippines (AFP) has received P5 million of financial assistance from two congressmen and a group of businessmen for the victims of the C-130 military plane crash in Patikul, Sulu over a week ago. Lt. Gen. Erickson Gloria (left), vice chief of staff of the Armed Forces of...
The local stock market fell after the outlook for the country’s credit rating was downgraded by Fitch Ratings. The PSEi lost 118.74 points or 1.72 percent to close at 6,795.13 as the Property and Holding Firms sectors led the retreat across the board. Volume was higher but still thin at 1.89...
The local stock market bounced off last week’s losses on bargain-hunting spurred by upbeat US bourses. PH STOCKS The main index rose 78.95 points or 1.15 percent to close at 6,913.87 as the Services and Mining and Oil counters led the advance across the board. Volume remained tepid though with...
The local stock market ended the week in a low note, giving way to corrective pressures on concern over the threat posed by the COVID -19 Delta variant to the global economy. PH STOCKS The main index fell 90.07 points or 1.30 percent to close at 6,834.92 after trading much lower intraday. Holding...
