State-owned Development Bank of the Philippines (DBP) has granted a P375-million loan to the Puerto Princesa City Water District (PPCWD) to improve its services and address the needs of the city's growing population. DBP President and CEO Michael O. de Jesus (second from left) is shown during...
Security Bank Corporation, a member of the Asia Transition Finance (ATF) Study Group, reported the release of the ATF Annual Report 2023 which aims to help Asian economies move toward net-zero. The ATF Study Group, a private-led initiative whose core participants are banks with operations in Asia,...
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) The relief request by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) from the Central Bank for infusions to the Maharlika Investment Fund (MIF) is nothing to...
The most recent figures out of a Bangko Sentral ng Pilipinas (BSP) study show that the rate of bank account ownership soared to 56 percent in 2021 from a mere 29 percent in 2019, which means the number of underserved Filipinos dropped to 34.3 million (representing 44 percent of the total population...
The Bangko Sentral ng Pilipinas (BSP) has approved the request of Union Bank of the Philippines (UnionBank) for additional equity investment of up to P900 million in wholly owned subsidiary UnionDigital Bank Inc. In a disclosure to the Philippine Stock Exchange (PSE), UnionBank said the BSP...
Local share prices plunged after the government reported that consumer prices surged in September. The main index fell 119.60 points or 1.90 percent to close at 6,178.60 as the Property sector led all sub indices in their retreat. A total of 676 million shares worth P5.43 billion changed...
Gokongwei-owned Cebu Pacific, through its finance partner MUFG Bank Ltd., has signed a 12-year Japanese Operating Lease with Call Option (JOLCO) worth $123 million. This is the first time the local airline has “returned to the financing market via a JOLCO structure since the pandemic,”...
The PSEi managed to eke out a marginal gain after bargain hunters lifted it out of negative territory. The main index inched up by 1.46 points or 0.02 percent to close at 6,305.99 with sectoral indices evenly divided. Volume improved to 856 million shares worth P5.94 billion as losers...
State-owned Development Bank of the Philippines (DBP) is prepared to extend the needed technical and financial assistance to strategic initiatives that would ensure the successful implementation of the Marcos Administration's three-year logistics master plan aimed at reducing the cost of...
The Philippine Stock Exchange (PSE) is removing Union Bank of the Philippines (UnionBank/UBP) from the PSEi, PSE Dividend Yield (PSE DivY), and Financials indices starting Oct. 4, 2023. In a memorandum, the bourse said that “a downward adjustment was made to UBP's free float that resulted...
The local stock market ended its six-day rally and finally gave way to profit-taking on the last trading day of the week, month, and end of the third quarter. The main index fell by 64.28 points or 1.01 percent to close at 6,321.24 as the Services sector led the retreat although Miners managed to...
The PSEi rose again as the removal of Metro Pacific Investments Corp. (MPIC) and Aboitiz Power Corp. (AboitizPower) from the benchmark boosted trading in other stocks although profit taking tapered gains. The main index added 10.84 points or 0.17 percent to close at 6,385.52 although sectoral...
