Fitch Ratings sees loan growth recovery

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 04 Dec 2019 16:20:29 +0000

Loan growth in the Philippines is likely to regain its momentum as it will be supported by the government’s investment in infrastructure and sustained consumer demand, Fitch Ratings said. “We expect a pick-up in government infrastructure spending to spur broader investment activity, amid sustained consumer demand,” the credit ratings agency forecasted in a report titled […]

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Peso back to P51:$1 level

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Wed, 04 Dec 2019 16:18:56 +0000

THE Philippine peso fell back to P51:$1 on Wednesday amid the continuing trade tensions between the United States and China. The peso, which opened at P51.10 against the greenback, lost 7 centavos to close at P51.02. Union Bank of the Philippines chief economist Ruben Carlo Asuncion told The Manila Times the slight weakening may have come from […]

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Possible trade deal delay dampens PSEi

Credit to Author: Tyrone Jasper C. Piad| Date: Wed, 04 Dec 2019 16:16:10 +0000

Washington is suggesting pushing back the trade deal with Beijing until next year drove market sentiment down, sending the local bourse to the red territory for second straight day. The benchmark Philippine Stock Exchange index (PSEi) dropped by 0.50 percent or 39.25 points to end at 7,815.93 while the wider All Shares slipped by 0.50 […]

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‘BSP policy easing may resume in Jan’

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 03 Dec 2019 16:25:58 +0000

MONETARY policy easing in the Philippines could resume as early as January, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. “We’ll look at December [data] and then, maybe [in] early January, we’ll resume monetary easing,” Diokno told reporters on Monday night. He clarified, however, that the policy easing would be implemented in both the […]

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AMLC pushes for changes in RA 9160, 9372

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 03 Dec 2019 16:24:58 +0000

THE Anti-Money Laundering Council (AMLC) is pushing for amendments to the Philippines’ anti-money laundering and human security laws to raise the country’s compliance to international standards. In a statement on Tuesday, the Bangko Sentral ng Pilipinas (BSP) said the AMLC made the push after deficiencies were found in the country’s technical compliance with international anti-money […]

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Net outflows, factory data drag PSEi

Credit to Author: Tyrone Jasper C. Piad| Date: Tue, 03 Dec 2019 16:22:38 +0000

NET foreign outflows and the soft growth in manufacturing activity last month prompted the stock market to retreat on Tuesday, but remained in the 7,800 territory. The benchmark Philippine Stock Exchange index (PSEi) slid by 0.28 percent or 22.01 points to close at 7,855.18, while the wider All Shares fell 0.12 percent or 5.48 points […]

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DBM issues 2021 budget call

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 03 Dec 2019 16:21:20 +0000

THE Department of Budget and Management (DBM) has started the process of crafting the 2021 government spending program by issuing a budget call that outlines the guidelines for the formulation and submission of agency proposals. Released on Tuesday, the budget call, signed by Budget Secretary Wendel Avisado on November 29, told agencies that the government […]

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DoE to Meralco: Craft power demand plan

Credit to Author: Jordeene B. Lagare| Date: Tue, 03 Dec 2019 16:19:30 +0000

THE Department of Energy (DoE) has asked the Manila Electric Co. (Meralco) to craft a plan to keep up with increasing electricity demand, its top official said. “In fact, I have written [a letter to] Meralco. I’m asking them on what are their measures to make sure they can cope up with the increase in […]

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ARTA, DILG ink circular on better govt services

Credit to Author: Anna Leah E. Gonzales| Date: Tue, 03 Dec 2019 16:18:22 +0000

The Anti-Red Tape Authority (ARTA) and the Department of the Interior and Local Government (DILG) recently signed a joint memorandum circular (JMC) that lays down guidelines for regulatory reforms to help local government units (LGUs) provide better government services. In a statement on Tuesday, ARTA said the circular, titled “Guidelines on the Regulatory Reform for […]

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PH digital payments up, says UN report

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Tue, 03 Dec 2019 16:17:51 +0000

THE Philippines has made progress in digital payment transactions last year, according to a report from a United Nations (UN) agency commissioned by the Bangko Sentral ng Pilipinas (BSP). In the report titled “The State of Digital Payments in the Philippines,” the UN-based Better Than Cash Alliance (BTCA) estimated the share of digital payments to […]

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