LANDBANK rolls out P50-B loan program for firms affected by crises
LAND BANK of the Philippines (LANDBANK) has launched a P50-billion loan program for businesses and enterprises adversely affected by economic disruptions, including natural calamities and geopolitical conflicts.
Dollar’s strength pushes global economy deeper into slowdown
THE SOARING DOLLAR is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility — and there’s little respite on the horizon.
Goldman Sachs officials reach $79.5-million shareholder settlement over 1MDB scandal
NEW YORK — Goldman Sachs Group, Inc. officers and directors reached a $79.5-million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia’s 1MDB sovereign wealth fund.
Gov’t debt yields climb as market prices in BSP hike
THE SELL-OFF in government securities continued last week as the better-than-expected economic print in the first quarter and rising inflation could push the Bangko Sentral ng Pilipinas (BSP) to end its easing cycle as early as this week.
Peso may rise on remittance data
THE PESO may appreciate further versus the dollar this week in anticipation of strong remittance data, but risk-off sentiment may be seen as the market awaits clearer economic plans from the next administration.
Cyberattacks on banks ‘exploit human weaknesses’
CYBER INCIDENTS faced by banks take advantage of human weaknesses mostly through fraud, phishing and account takeovers, according to the Bangko Sentral ng Pilipinas (BSP).
Banking groups hope incoming administration can address economic risks, industry concerns
BANKING INDUSTRY GROUPS hope the next administration headed by former Senator Ferdinand R. Marcos, Jr. can ensure the financial system will remain stable by addressing key economic concerns, including inflation and the impact of the coronavirus pandemic.
Tech’s role in the PHL elections
By Reynaldo C. Lugtu, Jr.
MANY Filipinos are still surprised on how fast the votes were tallied on the evening of the national elections. Some even use this to cast doubt on the credibility of the results.
Peso down on hawkish Fed, faster US consumer inflation
THE PESO retreated versus the greenback on Thursday following hawkish signals from the US Federal Reserve as well as faster US inflation.
Reissued T-bonds fetch higher rates
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Wednesday as markets again reacted to a hawkish US Federal Reserve and an expected tightening by the Bangko Sentral ng Pilipinas (BSP) at the next Monetary Board meeting.
Branch cost, credit risks seen to slow down Islamic banking growth
THE GROWTH of Islamic banking in the country is likely to remain sluggish despite regulatory push for the sector’s growth, mainly due to cost and credit risk issues, S&P Global Ratings said.
TDF yields mixed on lower oil prices, rate hike bets
YIELDS on the term deposits of the Bangko Sentral ng Pilipinas (BSP) ended mixed on Wednesday as oil prices settled lower and with the market anticipating an earlier rate hike from monetary authorities.