Security Bank Corporation plans to raise at least P5 billion from a fixed-rate peso bond offering with an oversubscription option to be issued from its P200 billion peso bond and commercial papers program. In a disclosure to the Philippine Stock Exchange (PSE), the bank said the bonds will have a...
The country’s inflation rate may have peaked this year after the rice tariff cut was implemented, analysts have suggested. In its June inflation report, the Bank of the Philippine Islands (BPI) stated that the July inflation data will likely remain near the upper limit of the Bangko Sentral ng...
Zobel-led Bank of the Philippine Islands is planning to raise at least P5 billion from an offering and issuance of Peso-denominated fixed-rate ASEAN Sustainable Bonds due 2026, with an option to upsize. In a disclosure to the Philippine Stock Exchange, the bank said the planned issuance will be the...
The hurdle to climb to upper-middle income status under the World Bank's classification became even harder, such that the Philippines remained the only Association of Southeast Asian Nations (ASEAN) founding member languishing as lower-middle income. The latest data released by the Washington-based...
The World Bank has appointed a new country director for the Philippines, Malaysia, and Brunei Darussalam, effective July 1. Zafer Mustafaoglu, a Turkish national, will oversee the World Bank's program in these countries to advance its policy dialogues with government officials, civil society,...
As the Philippines enjoys among the lowest remittance fees, this year's growth of money sent back home by Filipinos working and living overseas will rebound to outpace last year's slowdown, according to the World Bank. In its Migration and Development Brief 40 titled "Remittances Slowed in 2023,...
ACEN Corporation of the Ayala group and multilateral lending firm Asian Development Bank (ADB) have solidified their partnership in the “green power revolution” sphere, as the latter has switched on its renewable energy (RE) supply sourcing to the Ayala firm. The bank will procure 100 percent...
Companies, particularly banks, are urged to tap the capital market by issuing bonds as these are a stable source of funds that can be issued quickly to a large investor base and at a lower cost. The advantages of issuing bonds to raise fresh funds was raised during the seminar entitled...
From left to right: AFP Chief of Staff Gen. Romeo Brawner Jr.; PVB Chairman Roberto De Ocampo, OBE; House Speaker Martin Romualdez; PVB President & CEO Renato Claravall; and Deputy Treasurer Eduardo Anthony Mariño III (PVB Facebook) House...
Asia United Bank (AUB) is beefing up its information technology (IT) infrastructure, including the use of artificial intelligence (AI), as it aims to be the local banking industry’s “digital partner of choice.” During the bank’s annual stockholders’ meeting, AUB President Manuel A....
The Philippines is facing a challenge in enabling its children to reach their full potential productivity by the age of 18, which places the country's human capital development behind that of its regional counterparts. According to the World Bank's "The Philippines Human Capital Review," the...
The Bangko Sentral ng Pilipinas (BSP) will likely keep the policy rate at 6.5 percent next week while the central bank navigates around a weak peso and a hawkish US Federal Reserve, global banks said. "Another central bank that may be under pressure to review its rate stance next week is the...
