Two global banking giants have flagged political and fiscal challenges posing near-term risks to the Philippine economy, especially in the aftermath of a corruption scandal involving massive public spending on ineffective flood control projects in recent years. While “there is a strong pipeline...
Vice President Sara Duterte attended two Filipino community-sponsored rallies in the cities of Sumida and Nagoya in Japan this weekend, calling for the end of corruption in government and the release of former president Rodrigo Duterte from detention. During her speech in Sumida City, Tokyo, over...
The embassies of the United States and France warned its citizens about the nationwide “Trillion Peso March” demonstrations happening on Sunday, Sept. 21, to protest against the widespread and massive corruption unearthed because of anomalous infrastructure projects. The embassies took to their...
CEBU CITY – Police here are on full alert for the massive Trillion Peso March on Sunday, Sept. 21. Various sectors are protesting massive corruption in government’s infrastructure projects. Police Capt. Charisma Gonzales, information officer of the Cebu City Police Office (CCPO), said close to...
ILOILO CITY – The Roman Catholic and other Christian clergy in Western Visayas are in full force for the Trillion Peso March against corruption on Sunday, Sept. 21. The clergy in Aklan, Antique, Capiz, Guimaras, and Iloilo are leading the multi-sectoral protests in their localities. “As part of...
The Department of Health (DOH) has advised participants of the Trillion Peso March on Sunday, Sept. 21, to come prepared and bring essential items as thousands are expected to join the nationwide peaceful protest against corruption. The nationwide event is expected to draw participation from...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
The Securities and Exchange Commission (SEC) has ordered seven online platforms to stop lending-related operations since they are not registered with the Commission. In separate cease and desist orders (CDOs) dated Aug. 15, the SEC Financing and Lending Companies Department (FinLend) directed Cash...
Dutch financial giant ING said the Philippine peso is likely to continue losing ground against the United States (US) dollar as the Bangko Sentral ng Pilipinas (BSP) remains unfazed by its weakening and is expected to deliver substantial cuts in key borrowing rates. “Given our expectations of...
After performing among the worst of Asian currencies last week, the Philippine peso is still expected by Japanese financial giant MUFG Bank Ltd. to gradually appreciate and return to the ₱56:$1 level next year. “All Asian currencies depreciated against the United States (US) dollar [last] week,...
The Securities and Exchange Commission (SEC) continues to crack down on erring lending firms and has recently fined LHL Online Lending Inc., doing business under the names and styles of Pautang Online and Pautang Peso, for providing misleading information in its loan agreements. In an order dated...
After experiencing a three-day appreciation streak against the United States (US) dollar, the Philippine peso weakened again by shedding almost half-a-peso on Friday, July 25, despite the fresh market optimism over the latest trade deal with the US. According to the Bankers Association of the...
