Foreign banks expect Philippine inflation to have picked up further in May, above the already more-than-four-year high of 7.2 percent last April, making room for more interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). In a May 29 report obtained by Manila Bulletin, Goldman Sachs...
The central bank has ordered lenders to halt the use of non-deliverable foreign-exchange derivatives for speculative bets on the local currency, stepping up efforts to curb artificial volatility after loosening rules last year. Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. clarified...
Citing the rising risk of inflation expectations becoming de-anchored, the Paris-headquartered intergovernmental Organization for Economic Cooperation and Development (OECD) holds one of the most hawkish positions on policy tightening, penciling in a maximum of 125 basis points (bps) in interest...
The Philippine banking system’s total assets climbed to ₱30.12 trillion as of end-April, driven by sustained growth in lending and strong liquidity, with investment holdings continuing to support the economy. The latest preliminary Bangko Sentral ng Pilipinas (BSP) data showed banks’ combined...
Philippine banks’ bad loan ratio deteriorated to 3.37 percent as of end-April 2026, marking an eight-month high, likely due to the delayed impact of elevated borrowing rates on borrowers. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing...
The Securities and Exchange Commission (SEC) and the central bank have approved the merger of the nation’s two largest payment and clearing operators, creating a unified entity tasked with driving growth in digital transactions in the country. BancNet Inc. and the Philippine Clearing House Corp....
Foreign banks are turning more hawkish on domestic consumer prices than the central bank, warning that expiring price freezes and unabsorbed food costs will drive inflation beyond official projections. Frankfurt-based Deutsche Bank AG has an inflation forecast of 8.1 percent for May, breaching the...
The Manila City government has reopened the Ospital ng Maynila Medical Center’s emergency room, restoring full operations after its May 29 closure for brief service and infrastructure upgrades. The hospital underwent fast-tracked improvements aimed at upgrading services and enhancing the overall...
The Philippine Amusement and Gaming Corp. (Pagcor) is expanding its anti-money laundering network to include banks and e-wallets, stepping up oversight of the country’s fast-growing electronic gaming sector. The state-run regulator published a memorandum detailing amendments to its existing...
Inflation may have surged to as high as 7.9 percent in May, driven by soaring basic commodity prices and the weakening local currency, according to the Bangko Sentral ng Pilipinas (BSP), Amid intensifying macroeconomic headwinds, global supply shocks filter into the domestic economy, the central...
He thought he was done with music seven years ago. Really done. Miguel Escueta was content building his coffee business, raising his daughter and enjoying life away from the spotlight. Then the itch returned. This time, he 's aiming to make the most of it. His new album, " Stand in the Fire,"...
A candidate representing Barangay Bambang won the Mutya ng Taguig 2026 pageant held on May 30 at the Taguig City University Auditorium. Michele Angela Okol bested 36 other candidates to win the crown. She also took home the Darling of the Press award. Mayor Lani Cayetano led in awarding Okol....
