Homegrown non-bank Asialink Finance Corp. (AFC) has secured a total of at least $200 million (over P11.7 billion) in loans from two multilateral lenders to support its small business lending in the Philippines. Minutes of an Oct. 9 meeting of the Washington-based International Finance Corp. (IFC)...
The local stock market finally pulled away from its seven-day dive after investors found bargain prices too hard to resist. The main index jumped 119.56 percent or 1.82 percent to close at 6,676.65 as Industrials and Banks led the rebound although Conglomerates got left behind. Volume was firm at...
The PSEi is now at the 6,500 level as share prices plummeted as a result of foreign funds continuing to leave the local market. The main index dove by 157.24 points or 2.34 percent to close at 6,557.09 with the Mining and Property sectors leading the retreat across the board. Volume rose to 674...
State-owned Development Bank of the Philippines (DBP) has relocated its two branches as part of efforts to make its customer touchpoints more accessible to the public, a top official said. DBP President and CEO Michael O. De Jesus said that the latest office relocation of DBP P. Tuazon Branch in...
Senator Risa Hontiveros on Thursday, November 14 cautioned that the passage into law of the proposed Philippine Natural Gas Industry Development Act may replicate policy mistakes that happened in the past especially in the energy sector. Sen. Risa Hontiveros explains why she voted no to...
Budget Secretary Amenah F. Pangandaman has approved the release of P875 million to replenish the Department of Social Welfare and Development's (DSWD) Quick Response Fund (QRF) to ensure timely support for families affected by typhoons. An Oct. 30 report indicated that the DSWD's available QRF had...
Filinvest Development Corporation (FDC), the holding company of the Gotianun Group, reported a 59 percent jump in attributable net income to P9.5 billion in the first nine months of 2024 from the P5.9 billion earned in the same period last year. In a disclosure to the Philippine Stock...
Senator Cynthia Villar expressed her strong opposition to the Department of Human Settlements and Urban Development (DHSUD) plan to build condominiums as a means to resolve the housing backlog in the Philippines. Sen. Cynthia Villar raises her strong objection to the plans of the Department of...
Local share prices plunged as the Philippines faces headwinds including a weaker peso, lower foreign investments, and slower economic growth. The main index fell 129.9 points or 1.87 percent to close at 6,810.11 with the Property and Services sectors leading the retreat across the board. Volume...
The Philippines' chief economist is looking forward to benefits in case talks for a free-trade agreement (FTA) between the Philippines and the United States can be kickstarted when Donald J. Trump returns to the White House early next year. "Of course, we should" was Socioeconomic...
While the government maintains that a robust middle class will propel the country to a predominantly middle-class society within the next 15 years, economists warned that a lack of quality, stable jobs poses a threat to this goal. The National Economic and Development Authority (NEDA) said that a...
Mayors in Maguindanao del Norte support the postponement of the Bangsamoro Autonomous Region in Muslim Mindanao parliamentary elections from 2025 to 2026. THE Bangsamoro Government Center in Cotabato City, the seat of government of the Bangsamoro Autonomous Region in Muslim Mindanao. ...
