Vice President Sara Duterte on Monday, April 13, emphasized the urgency of addressing the literacy crisis in the Philippines, calling on Filipino families to strengthen reading habits as the country marks Buwan ng Panitikang Filipino. In a video message, Duterte described literature not merely as...
To bolster the country’s climate resilience, the Bangko Sentral ng Pilipinas (BSP) has proposed a major regulatory shift, slashing the credit risk weight for sustainable housing loans. Under the new draft circular, the risk weight for these eco-friendly financing arrangements will drop to 20...
The local banking system faces a more severe threat from escalating Middle East tensions than in previous economic shocks, as a pivot toward lending to small businesses and consumers creates new pockets of vulnerability, according to Fitch Ratings. Jonathan Cornish, Fitch Ratings managing director...
The peso is struggling to claw back losses despite the two-week ceasefire between the United States (US) and Iran, remaining an outlier in a regional currency recovery as markets focus on the country’s acute sensitivity to energy prices. While the brief cessation of hostilities sparked a relief...
Senator Joel Villanueva on Friday, April 10, welcomed the Bangko Sentral ng Pilipinas ' (BSP) proposal to depend on principles-based framework for salary-based personal loans as doing so actually puts borrowers ' actual capacity to pay as consideration in their lending decisions. ...
While the Bangko Sentral ng Pilipinas (BSP) remains firm on intervening in the foreign exchange (forex) market only when it becomes inflationary, its chief said this threshold has been lowered, citing the central bank’s credibility. BSP Governor Eli M. Remolona Jr. told CNBC on Friday, April 10,...
Net inflows of brick-and-mortar foreign direct investments (FDI) in the Philippines fell to $443 million in January from $729 million a year ago, as rising geopolitical risks weighed on investor sentiment at the start of the year. This marks the lowest level in four months since the $316 million...
Philippine banks’ bad loan ratio climbed to 3.33 percent in February, marking its highest level in six months—a level that remains manageable but still warrants closer monitoring if higher interest rates persist. According to the latest Bangko Sentral ng Pilipinas (BSP) data, the banking...
Previously capping loan terms at five years at most, the Bangko Sentral ng Pilipinas (BSP) has moved to amend this rule, proposing a principles-based approach where loan length will be based on a comprehensive assessment of a borrower’s creditworthiness. Under a draft circular, which is...
DAVAO CITY – Vice President Sara Duterte expressed concern over foreign policy, insurgency, and the status of the Bangsamoro peace process in Mindanao on Araw ng Kagitingan on Thursday, April 9. The Vice President, speaking during a wreath-laying ceremony at the Veterans Memorial Monument here...
ZAMBOANGA CITY – This city commemorated the 84th Araw ng Kagitingan on Thursday, April 9, with a program honoring World War II heroes at the Freedom Fighters Memorial Shrine Plaza. Mayor Khymer Olaso led this year’s observance with the theme “Giting ng Bayani, Pamana sa Salinlahi.” Local...
British banking giant Barclays sees the Bangko Sentral ng Pilipinas (BSP) holding key interest rates steady at this month’s policy meeting before possibly hiking in June, in a bid to support the already weak economic growth outlook even prior to the war in the Middle East. “With the ceasefire...
