A $600-million (over ₱33-billion) loan scheduled to be greenlit by the Washington-based World Bank in December is aiming to not only help sustain robust economic expansion in the Philippines but also ensure that Filipino workers are ready to reap growth-induced employment. In a June 2 program...
UnionDigital Bank (UD), the digital bank subsidiary of Aboitiz-led Union Bank of the Philippines is set to launch low-tenor loans under ₱30,000 in the fourth quarter of 2025 as its top executive believes this move is a more disciplined approach to take. “We have recently introduced a longer...
State-run Development Bank of the Philippines (DBP) reported that its net income surged to ₱1.61-billion in the first quarter of the year, an 82 percent increase from a year earlier due to intensified lending activities in its priority sectors and key industries. In a statement, DBP President and...
Aboitiz-led Union Bank of the Philippines (UnionBank) has kicked off its ₱10 billion public offering of 1.5-year Senior Fixed Rate Series H Bonds due 2026 and 3Y Senior Fixed Rate Series I Bonds due 2028. The Bonds will be issued under UnionBank’s Philippine Peso Bond Program with an increased...
In the quest to materialize the great regional grid interlink across the Association of Southeast Asian Nations (ASEAN), the Manila-based Asian Development Bank (ADB) is projecting around $16 billion (approximately ₱890 billion) worth of investments to pursue the development of key...
In a continuing push to improve the power situation in off-grid communities, the Department of Energy (DOE) and the Asian Development Bank (ADB) are collaborating on a program to upgrade the off-grid systems of the National Power Corp. (NPC). During the Asian Clean Energy Forum (ACEF), Energy...
Japanese financial giant MUFG Bank Ltd. sees t he peso 's appreciation streak against the United States (US) dollar being sustained until early 2026. "We continue to forecast the Philippine peso to strengthen against the US dollar, reflecting low inflation, continued space for rate cuts, FDI...
The Bangko Sentral ng Pilipinas (BSP) is seen cutting interest rates for two consecutive policy meetings as inflation falls to below-target levels, according to Deutsche Bank Research. In a May 31 report emailed on Monday, June 2, Deutsche Bank Research forecast headline inflation in May at 1.5...
Nearly three months after launching a promotional ₱10 transaction fee, Ayala-led Bank of the Philippine Islands (BPI) has decided to keep the lower fee as a permanent feature for interbank fund transfers (IBFT) carried out via InstaPay, due to strong customer demand. The BPI has announced in a...
Big businesses were asked in 2022 to take accountability for their plastic packaging. Those with P100 million or more in assets were tasked to gradually recover 80 percent of their plastic product footprint by 2028. Over 2,000 companies are obliged to do that. Three years have passed and, alas,...
The World Bank Group (WBG) has imposed a 4.5-year debarment on L.S.D. Construction & Supplies, a construction firm in the Philippines, for “collusive, fraudulent, and corrupt practices” linked to the Philippine rural development project (PRDP). In a May 28 statement posted on its website, the...
The Philippines is scheduled to borrow a total of $7.85 billion, or over ₱437 billion, from the Washington-based World Bank in the next two years under their new six-year lending program aimed at supporting the climb to upper-middle-income country (UMIC) status. The country partnership framework...
