Lenders’ profits up 37.5% in 2022
THE PHILIPPINE banking industry saw its net profits jump by 37.5% in 2022, thanks to higher interest income and trading gains, according to central...
Senators move anew to lift restrictions on foreign participation in public utilities
MEASURES amending the 82-year-old Commonwealth Act No. 146, or Public Service Act (PSA), to remove foreign ownership limits on sectors engaged in public services have been filed anew in the Senate.
India expects to regain post as fastest-growing major economy
NEW DELHI -- India on Monday forecast gross domestic product (GDP) growth would accelerate to 7-7.5% in the 2018/19 fiscal year, to once again...
Search for third major telco clears major hurdle
THE QUEST for the country’s third major telecommunications service provider advanced on Friday after a government team settled on the highest committed level of service (HCLoS) as basis for competition.
Traders seek low pork duty for 5 years
MEAT TRADERS asked Philippine President Ferdinand R. Marcos, Jr. to cut the tariff on imported pork for the next five years to ensure food security and cool inflation.
Deep recession seen to hurt banks’ asset quality
S&P GLOBAL RATINGS on Tuesday said the risk of credit losses soaring for Philippine banks is higher than expected amid the economic slowdown, as it downgraded its rating outlook for two local banks to negative.
Maharlika fund eyes 3rd investment with foreign-listed firm
THE MAHARLIKA Investment Corp. (MIC) is gearing up for its third investment which would involve a foreign-listed company with ties in the infrastructure sector,...
PHL inflation cools in boon for rate cuts
INFLATION SLOWED, as expected, to a seven-month low in August due to a moderate rise in food and a decline in transport costs, making the case for the Philippine central bank to deliver more interest rate cuts next quarter to boost economic growth.
OECD sees faster 2nd half PHL growth
By Elijah Joseph C. Tubayan
Reporter
PHILIPPINE gross domestic product (GDP) growth should pick up slightly this semester from the first half’s 6.45% average on the...
Regulators, banks grapple with risks arising from social media, digitalization
REGULATORS and banks in the Philippines need to develop a system on how to immediately respond to issues on social media that may affect...
ADB maintains growth forecast for Developing Asia
MANILA - Developing Asia is on track to grow 5% this year, supported by strong consumption and high demand for tech exports, the Asian...
Property sector outlook remains dim as shoppers stay away from malls
LISTED PROPERTY companies may continue to see double-digit profit drops for the remainder of the year, as consumers continue to stay away from shopping malls amid the rise in the number of coronavirus infections.