For decades, Philippine entrepreneurs and family-owned businesses have grown steadily — cautiously expanding, reinvesting profits, and keeping leadership within the family. But today, business moves faster, competition is fiercer, and opportunities stretch beyond traditional limits. The new...
While several big-ticket government projects in the pipeline threaten to widen the Philippines’ current account deficit and put pressure on the trade balance, Germany-based Deutsche Bank said this could ultimately benefit the country’s economic growth and strengthen the peso in the long run....
The Washington-based World Bank has committed to lend the Philippines $350 million, or over ₱19 billion, for an upcoming Department of Agriculture (DA) project aimed at extending financing support to small agri-businesses. A July 11 project information document showed a project cost of $873...
Deutsche Bank celebrated its 50th anniversary in the Philippines this year, a milestone that not only underscores its deep-rooted presence in the country but also signals an ambitious forward-looking agenda. As one of the world’s leading financial institutions, the German bank is placing the...
Senator Panfilo "Ping" Lacson has filed two bills that will strip government officials and employees of secrecy rights under the laws on bank deposits as well as foreign currency deposits. Lacson, in Senate Bill 38 titled "An Act Further Strengthening the Secrecy of Bank Deposits Law, Amending for...
Japanese financial giant MUFG Bank Ltd. sees a mild impact arising from the potentially higher United States (US) tariff set to be imposed on Philippine goods imported into America. “This announcement is to some extent a downside surprise for our FX [foreign exchange] and macro forecasts, given...
Digital-only commercial bank CIMB Bank Philippines is setting its sights on expanding its customer base to 10.5 million by the end of 2025, driven by the introduction of new products. “We 'll grow another 500,000 by year-end, on top of the 10 million. I think we should be close to 10.5...
The share of tax revenues to the Philippine economy has lingered below the regional average of efficient collections, highlighting the need to further improve tax administration and enforcement. The Organization for Economic Co-operation and Development’s (OECD) Revenue Statistics in Asia and the...
Vice President Sara Duterte said that she will answer questions about her bank accounts before the proper forum—the impeachment trial—adding that she has “no obligation” to respond to those illegally seeking information about them. Speaking to supporters and media in The Hague, on Tuesday,...
The Department of Agriculture (DA) is set to receive a technical assistance grant from the World Bank that will support programs aligned with the forthcoming $1-billion program loan from the Washington-based multilateral lender. In a concept document published on July 7, the World Bank said its...
While loans from big banks or universal and commercial banks, excluding investments in the central bank’s reverse repurchase (RRP), expanded at a slightly faster rate of 11.3 percent from April’s 11.2 percent, it remains relatively slower than March’s 11.8-percent expansion rate. In a...
President Marcos is in favor of a bill mandating government officials to waive their bank secrecy rights, Malacañang said. Palace Press Officer and Communications Undersecretary Claire Castro said Marcos agrees with the proposal and believes that accountability and transparency must be upheld....
