LANDBANK launches new lending program for countryside lenders
STATE-RUN Land Bank of the Philippines (LANDBANK) has launched a new lending program that will assist countryside financial institutions (CFIs) affected by natural calamities, man-made disasters, pests and diseases and outbreaks like the coronavirus disease 2019 (COVID-19) pandemic.
Peso ends sideways on lockdown easing prospects
THE peso closed sideways on Thursday as investors await clearer directions on lockdown measures while continuing to fear further spread of the virus.
Dollar reserves seen reaching $94 billion this year
THE COUNTRY’S dollar reserves are expected to rise to a record $94 billion by the end of the year as the country grapples with the coronavirus pandemic, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
Gov’t fully awards bonds
THE GOVERNMENT fully awarded the reissued five-year Treasury bonds (T-bonds) it offered on Wednesday on the back of low rates and strong demand as investors continue their flight to safer assets.
House approves bill on cash agents
A BILL which seeks to widen unbanked Filipinos’ access to financial services was approved by the House Committee on Banks and Financial Intermediaries on Wednesday.
Yields on seven-day term deposits inch lower
YIELDS ON the central bank’s term deposit facility (TDF) slipped on the back of higher bids as well as the slight recovery in oil prices.
Peso weakens versus the dollar on worsening US-China relations
THE PESO succumbed to the greenback on Wednesday amid risk-off sentiment due to a wider budget deficit in April and renewed tensions between the US and China.
Gov’t raises P24 billion from Treasury bill offer
THE GOVERNMENT upsized the Treasury bills (T-bills) it awarded on Monday as rates continued to decline on expectations of further monetary easing.
Life sector spurs 20% growth in insurance industry’s 2019 income
THE INSURANCE INDUSTRY’S total net income booked double-digit growth in 2019 buoyed by a spike in the life insurance sector’s net profit.
Peso climbs on prospects of economy’s reopening
THE PESO climbed against the greenback on Tuesday amid expectations of a gradual reopening of the economy and profit taking.
Diokno says policy remains appropriate
THE CURRENT policy stance of the Bangko Sentral ng Pilipinas (BSP) will remain appropriate once the modified enhanced community quarantine (MECQ) is transitioned to a general community quarantine (GCQ), according to BSP Governor Benjamin E. Diokno.
Government borrowings drop in March
THE NATIONAL government’s borrowings declined 79% to P66 billion in March from the P308.218 billion recorded a year ago, according to data from the Bureau of the Treasury (BTr).