The Asian Development Bank (ADB) announced another loan to the Philippine government, but this time the financing will fund the construction of bridges over the Marikina River to improve road traffic flow in Metro Manila. In a statement, the Manila-based multilateral institution said on Wednesday,...
The Land Bank of the Philippines (LANDBANK) has opened its first Agri-Hub in Central Luzon located in Rizal, Nueva Ecija as part of efforts to be more accessible to farmers and fishermen. In the next few weeks, the state-run bank is still targeting to open four more Agri-Hubs – located in Bago...
The Manila-based Asian Development Bank (ADB) has raised its economic growth outlook for the Philippines due to improving coronavirus (COVID-19) situation and the acceleration in the government’s inoculation program. Based on the supplement to the Asian Development Outlook (ADO) 2021 on Tuesday,...
Three House of Representatives committees were asked on Monday, Dec. 13 to conduct a congressional inquiry into the reported fraudulent bank transactions that have allegedly victimized depositors of BDO Unibank Inc. House of Representatives facade Bayan Muna Representatives Carlos Isagani Zarate,...
The Duterte administration has tapped the Asian Development Bank (ADB) for a fresh $250 million loan to help the Philippines in securing additional coronavirus disease (COVID-19) vaccine supply. The Manila-based multilateral institution said on Monday, Dec. 13, that it has approved the new loan to...
Senate Committee on Banks, Financial Institutions and Currencies chair Senator Grace Poe on Sunday urged the Bangko Sentral ng Pilipinas (BSP) to dig deeper into the online banking hacking incident that hounded BDO account holders, saying such incident need to stop in the face of the growing...
Surigao del Sur Rep. Johnny Pimentel, chairman of House committee on strategic intelligence, on Sunday told the Philippine Coast Guard (PCG) to prepare to fight back against China’s water cannon should a scheduled offshore gas drilling activity in the Recto Bank escalate into tension. In a...
Manila Mayor Francisco “Isko Moreno” Domagoso is open to waiving his rights under Republic Act (RA) 1405 or the Bank Secrecy Law, thus, making his bank accounts a matter of public record. During a cash aid distribution event to victims of the San Andres fire on Friday, Dec. 10, Domagoso said he...
The World Bank has approved a fresh $600 million loan that aims to support the Philippines’ economic recovery from the coronavirus pandemic. In a statement, the Washington-based multilateral institution said it approved the financing for the government’s reform program to position the country...
The World Bank said the Philippines is facing weaker long-term growth due to lower capital investment as well as loss of human and intangible capital. Without mitigation measures, the Washington-based multilateral institution warned that the country’s long-term growth potential will be only at...
Bank of the Philippine Islands (BPI) plans to issue its fourth tranche of Peso Fixed-Rate Bonds worth P5 billion, with option to upsize, as part of its P100 billion program. In a disclosure to the Philippine Stock Exchange, the bank said proceeds from this bond offering will be used for general...
Bank of Commerce (BankCom), an affiliate of San Miguel Corporation, is planning to raise up to P4 billion from a planned initial public offering next year. Based on the draft prospectus filed with the Securities and Exchange Commission, the bank is planning to offer up to 280.6 million common...
