Companies scaled back borrowing from Philippine banks’ foreign currency funds in the first quarter, pulling total loans down to $15.44 billion as high global interest rates made dollar debt increasingly expensive. According to the latest data from the Bangko Sentral ng Pilipinas (BSP),...
A 22-year-old ex-convict was arrested after allegedly breaking into a house in Barangay Tandang Sora, Quezon City, and stealing about P814,000 worth of cash and valuables while the owners were on vacation. Quezon City Police District (QCPD) operatives from Talipapa Police Station (PS 3)...
Foreign currency-denominated bank loans in the country posted a slight decrease in the first three months of the year, driven by weakened demand for both short and long-term borrowing from residents and non-residents alike. According to data from the Bangko Sentral ng Pilipinas (BSP), foreign...
Razon-led Manila Water Co. reported that its net income posted a 14 percent increase in the first quarter of 2025. In a disclosure to the Philippine Stock Exchange this Friday, May 9, the private water utility firm’s net income reached ₱3.5 billion in the first three months of 2025, up from...
The Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) has begun discussions on the draft guidelines for determining rate adjustments for Manila Water Co. and Maynilad Water Services Inc. On Tuesday, July 19, a public consultation was held regarding the Foreign Currency...
(Bloomberg) A measure outlawing bulk foreign currency smuggling for any person found concealing through fraud, willful misdeclaration, or other means the amount exceeding $10,000 when arriving or leaving any point of entry in the Philippines has moved past the...
After financial analytics firm S&P Global maintained the Philippines’ long-term foreign currency-rating at BBB+, House Ways and Means Chairman and Albay 2nd district Rep. Joey Salceda credited the Marcos administration for successful economic recovery. Albay 2nd district Rep. Joey Salceda On...
The decision of the Metropolitan Waterworks and Sewerage System (MWSS) to remove the Foreign Currency Differential Adjustment (FCDA) from the water bills will have a different impact on the respective customers of Manila Water Company, Inc. and Maynilad Water Services, Inc. Unfortunately, it will...
The House of Representatives has approved on third and final reading a bill that would further plug loopholes in the current Anti-Money Laundering Law by penalizing smuggling of foreign currency and other monetary instruments in bulk. Dollar Smuggling With 197 affirmative and zero negative votes,...
The Metropolitan Waterworks and Sewerage System-Regulatory Office (MWSS-RO) is still clarifying with the government panel that revised concession agreements between MWSS and water concessionaires if the foreign currency differential adjustments (FCDA) can still be implemented for the third quarter...
The water rates of Manila Water Company Inc. will slightly increase in the second quarter of the year, while customers of Maynilad Water Services Inc. will enjoy a small rollback in rates. In a virtual briefing on Thursday, Metropolitan Waterworks and Sewerage System (MWSS) Chief Regulator Patrick...
Banks’ foreign currency deposit units (FCDUs) totaled $18 billion as of end-June, down by 1.7 percent or $303 million compared to the previous quarter’s $18.3 billion with principal payments still exceeding disbursements, the Bangko Sentral ng Pilipinas (BSP) said. (Ali Vicoy/Manila Bulletin)...
