Saudi Arabian oil giant Aramco has launched a promotional campaign aimed at expanding its retail fuel footprint in Metro Manila. The world’s largest oil exporter, which recently re-entered the Philippines’ downstream sector, is partnering with warehouse retailer S&R Membership Shopping and...
International Finance Corp. (IFC) expects its investment in Aboitiz-led Union Bank of the Philippines’ (UnionBank) inaugural sustainability bond to broaden access to climate finance, expand lending to micro, small, and medium enterprises (MSMEs), as well as encourage more Philippine financial...
The World Bank has released an initial $248 million, or over ₱15 billion, from its $1-billion financing for the Philippines to jumpstart the government’s ambitious agriculture modernization program aimed at boosting food production, strengthening climate resilience, and modernizing food supply...
As economic pressures continue to squeeze household budgets, more Filipinos are choosing repayment flexibility over delinquency. Tonik has seen a threefold increase in the use of its loan payment holiday, Payhinga, underscoring the growing need for financial tools that help borrowers manage...
Zobel-led Bank of the Philippine Islands (BPI) reported flat first-half earnings as an aggressive ramp-up in provisions for bad loans offset double-digit gains in core interest and fee revenues. In a disclosure to the Philippine Stock Exchange, the country’s oldest lender reported that net income...
Philtrust Bank, one of the oldest established commercial lenders in the country, has eliminated transaction fees for all online fund transfers made through major electronic payment networks. Philtrust announced that retail clients using its digital banking platform can now transfer funds via both...
A sustainability session focused on climate-related financial disclosures was organized recently by Philippine National Bank’s (PNB) Corporate Sustainability Division, headed by Jean Baruelo, and attended by PNB’s Board and management. Geocel Olanday is the Chairman of PNB’s Sustainability...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said around $50-billion, or ₱3-trillion, worth of Philippine government bonds are eligible for inclusion in JPMorgan Chase & Co.’s emerging-market (EM) index, a move that could attract billions of dollars in additional foreign...
Vice President Sara Duterte 's defense team on Wednesday, July 15, urged the Senate impeachment court to reject the prosecution 's request to subpoena her bank, tax, and Anti-Money Laundering Council (AMLC) records, arguing that the move violates due process and amounts to a "fishing...
The Asian Development Bank (ADB) has revamped its crisis response toolkit to help developing Asia-Pacific economies respond more quickly to energy supply disruptions and food price shocks stemming from the ongoing Middle East conflict, while strengthening resilience against future crises. In a...
International Finance Corp. (IFC), the World Bank Group’s (WBG) investment arm, is investing $100 million in Union Bank of the Philippines’ (UnionBank) first sustainability bond to help the Aboitiz-led bank expand its green and social asset portfolio. In a disclosure to the Philippine Stock...
Redeveloping the Pasig River Corridor into a continuous network of parks, esplanades, and other public open spaces could yield ₱6 to ₱8 in economic, environmental, health, as well as social benefits for every ₱1 invested, according to consultants’ reports prepared for the Manila-based Asian...
