The Asian Development Bank (ADB) has approved a $500 million policy-based loan to further strengthen the Philippines’ efforts to tackle climate change. In a statement, Pavit Ramachandran, ADB Philippines country director, said the Climate Change Action Program (CCAP) Subprogram 2 supports the...
Emerging Asian markets like the Philippines are facing trade headwinds that would put pressure on their currencies to weaken against the US dollar, according to Deutsche Bank Research. "We think 2025 will bring with it a more negative tilt on the distribution of expected returns for emerging...
Legazpi Savings Bank (LSB), a wholly-owned subsidiary of the Bank of the Philippine Islands (BPI), is expanding its reach outside the Bicol region by more than doubling the number of its branches so it can serve more public school teachers nationwide. In a media briefing, LSB President Jerome B....
Asia United Bank (AUB) of the Ng family aims to gain more market share for its e-wallet business by expanding its product offerings and widening its global reach. "To continue growing our e-wallet market share, we will embark on more innovations in the coming years, such as offering microinsurance...
Hann Casino Resort expansion facade (Artist's perspective) Hann Philippines, Inc. proudly announces its major expansion project for Hann Casino Resort, its flagship property at the heart of Clark Freeport Zone. This reinforces their commitment to leadership excellence in gaming and hospitality, and...
Philippine National Bank (PNB) is aiming to more than double its retail loan portfolio over the next three years, capitalizing on its strong capital ratios. During the Philippine Stock Exchange's investor day, PNB Chief Finance Officer Francis Albalate stated that these high capital ratios place...
The Philippines will repay to the Asian Development Bank (ADB) the initial loan it secured for the Laguna Lakeshore Road Network (LLRN) until 2052, or 24 years after the project is expected to be passable. Documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine...
Rural Bank of Sta. Rosa (Laguna) Inc., a subsidiary of homegrown financial technology (fintech) company Salmon Group Ltd., has grown by double-digits its deposits from rich clients as well as loans to blue-collar workers during the first nine months of 2024. Salmon co-founder and the bank’s chair...
It’s easy to feel frustrated and point fingers when facing abnormal weather patterns, especially in the disaster-stricken Philippines, where calamities swing by like unwanted visitors who frequent poor communities. Lest we forget, developing nations suffer the most from rich countries'...
Asia-Pacific economies should keep free trade flowing despite looming challenges to be presented by the return of a protectionist Trump 2.0 administration in the US, according to the top economist of the Asian Development Bank (ADB). “We’re concerned—obviously, it’s probably going to be a...
Micro, small and medium enterprises (MSMEs) continue to expand in fast-growing Philippines, getting a boost from booming electronic commerce, according to the Asian Development Bank (ADB). However, MSMEs in the country remain hampered by limited access to financing, partly as banks avoid bad loans...
The Philippines and the World Bank have agreed on the terms of the 466.07-million euro (equivalent to $500 million or over P29 billion) loan to ensure the safety and resiliency of schools in the country from natural disasters. Official documents disclosed on Nov. 19 showed that Finance Secretary...
