China Bank Savings Inc., the thrift retail banking arm of Sy-led China Banking Corp., plans to push forward with its brick-and-mortar expansion, leaning on wider consumer margins to buffer against persistent inflation and elevated global interest rates. James Christian Dee, CBS president, said the...
SINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing...
Maynilad Water Services Inc. has tapped International Finance Corp. (IFC) for a $500,000 infrastructure advisory services project aimed at strengthening the west zone concessionaire’s sustainability and resilience strategy. In a disclosure last Monday, June 15, IFC said the project was approved...
Asian currencies rebounded against the United States (US) dollar following US President Donald Trump’s announcement of a peace deal with Iran, with the Philippine peso leading regional gains. “As far as Asian currencies were concerned, the Philippine peso returned from holiday and led Asian...
Frankfurt-based Deutsche Bank AG has called for a jumbo 50-basis-point (bp) interest rate hike on Thursday, arguing that a larger increase would tackle growing price pressures head-on and avoid the need for more drastic tightening later. In a June 12 commentary, Deutsche Bank wrote that the Bangko...
SINGAPORE — The Philippines is among the countries best positioned to help meet Asia’s rapidly growing electricity needs, with its rich geothermal resources as well as expanding wind and solar sectors offering significant potential for renewable energy (RE) development, according to...
Philippine bond yields posted one of the largest increases in emerging East Asia in recent months as the war in the Middle East fueled inflation, prompted tighter monetary policy, and heightened investor concerns over the country’s economic vulnerabilities, according to the Asian Development Bank...
Japanese financial giant MUFG Bank Ltd. said the Philippine peso may start clawing back recent losses and reverse its underperformance following unexpected news that the United States (US) and Iran will sign a peace deal on Friday, allowing the Strait of Hormuz to reopen. “Asian currencies such...
British banking giant Barclays said dovish members of the Monetary Board (MB) will likely support a less aggressive policy stance amid signs of cooling inflation, adding that monetary authorities may reverse their tightening cycle by 2027 to buoy a slowing economy. “With the May inflation print...
Money sent home by overseas Filipinos (OFs) fell to $2.72 billion in April, dropping from the $2.87 billion recorded in March to hit its lowest level since May last year, as tighter budgets constrained cash transfers. According to the latest data from the Bangko Sentral ng Pilipinas (BSP) released...
Stubborn inflation is forcing the Bangko Sentral ng Pilipinas (BSP) to seriously consider higher borrowing costs, a move that threatens to worsen the sharp economic slowdown already hitting the country. Since the BSP delivered a quarter-point hike to 4.5 percent in April, calls for further...
The Philippines has sought World Bank backing for a $1-billion program aimed at tackling the country ’ s plastic waste problem, starting with Metro Manila. In a June 10 document, the World Bank said that the proposed Clean Philippines Multiphase Programmatic Approach (MPA) is designed to improve...
