Tag: Karl Angelo N. Vidal

INFLATION could settle below the official full-year target this quarter as food and oil prices ease, BSP Governor Benjamin E. Diokno told reporters on Tuesday, citing “base effects” due to multi-year-high rates last year.

UNIONBANK of the Philippines, Inc. piloted its cross-border remittance service for local rural banks through blockchain, as it aims to push financial inclusion in rural areas.

THE PESO weakened further against the dollar on Tuesday as market players await the policy decision of the European Central Bank (ECB).

THE NATIONAL GOVERNMENT’s fiscal balance swung to a deficit in June after two straight months of surplus -- even amid relatively flat state spending and a double-digit hike in tax collections -- with the first half nevertheless yielding a much smaller budget gap than a year ago, the Bureau of the Treasury reported on Monday.

PRU LIFE Insurance Corp. of UK (Pru Life UK) is eyeing to launch its asset management and trust subsidiary before the year ends, with the insurer already ironing out internal processes and requirements.

FOR much of history, banking was done in branch offices, but beginning in the late 20^th Century, digitization began to creep in, allowing account holders ever more banking convenience without needing to leave their homes or offices. With tech revolutionizing banking, how will financial institutions keep their networks relevant?

RATES OF THE Treasury bills (T-bill) on offer today will likely end mixed amid expectations of policy rate cuts from the local and US central banks.

THE PESO is seen to weaken against the dollar this week following geopolitical tensions between the US and Iran as well as guidance from US Federal Reserve Bank of New York.

PAYMAYA tallied the highest number of touchpoints where clients can add money into their digital wallets in a bid to push financial inclusion.

THE country’s balance of payments (BoP) registered a deficit in June, as the government made principal and interest payments on its foreign debts, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

THE BANGKO SENTRAL ng Pilipinas (BSP) said inflation settled at the midpoint of its target band in the second quarter, driven by improved domestic food supply conditions.

MOST BANKS kept their lending criteria little changed in the second quarter, results of a central bank survey showed.

THE PESO weakened against the dollar on Friday as the market positioned following dovish pronouncements from a US Federal Reserve official and ahead of the release of US data on consumer confidence.

FOREIGN portfolio investments swung to a net outflow last semester as June recorded the fourth straight month that more of such funds left the country, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

THE POLICY-MAKING BODY of the Social Security System (SSS) is set to conduct a nationwide survey to plug coverage gaps and improve social protection.

PHILIPPINE Clearing House Corp. (PCHC) saw a jump in electronic fund transfers (EFT) in 2018 following the launch of the Philippine EFT System and Operations Network (PESONet).

THE Department of Finance (DoF) said it has developed courses for current and future employees of the Bureau of Customs (BoC) and Bureau of Internal Revenue (BIR) under the Philippine Tax Academy (PTA).

THE PESO recovered against the dollar on Thursday as the market consolidated due to a lack of fresh leads.

DIGITAL consumer lending firm AsiaKredit expects 50% growth in its disbursed loans this year as it banks on responsible lending practices.

MOBILE LENDING platform Cashalo breached its target to hit a million clients in the first half of the year as the firm moves into the credit business.

VIRTUAL BANKING in emerging markets (EM) is seen to pick up as large unbanked populations and greater adoption of technologies present opportunities for the success of digital banks, S&P Global Ratings said.

THE PESO plunged against the dollar on Wednesday, dragged by reduced expectations of a rate cut by the US Federal Reserve due to upbeat June US retail sales data.

THE GOVERNMENT fully awarded the reissued seven-year Treasury bonds (T-bond) on offer yesterday amid robust demand as market participants priced in possible monetary policy easing by local and US central banks.

THE INSURANCE Commission (IC) has issued guidelines on the underwriting of applicants with actual, perceived or suspected human immunodeficiency (HIV) status.

PHILIPPINE National Bank (PNB) completed its P12-billion stock rights offer (SRO) on Monday, with the raised funds allotted to grow its assets.

THE PESO continued to strengthen against the dollar on Tuesday to hit a new high on the back of profit taking ahead of the release of some US economic data.

THE NON-LIFE industry will lobby to prevent the increase of insurance firms’ minimum capital requirement to P1.3 billion by the end of 2022, the Philippine Insurers and Reinsurers Association (PIRA) said.

BANK OF THE Philippine Islands (BPI) has deployed P49.5 billion in funds it raised last year via stock rights offer (SRO), allotting the bulk to loans.

THE PESO strengthened against the dollar to hit a fresh high on the back of continued bets of monetary policy easing by the US Federal Reserve.

THE GOVERNMENT will likely see lower yields for its reissued seven-year bonds to be auctioned off tomorrow, as market participants price in possible interest rate cuts from the local and US central banks.

CHINA BANKING Corp. (China Bank) is looking to offer peso-denominated green bonds to support demand for environmental and sustainability projects.

THE PESO will likely strengthen against the dollar this week on bets of monetary policy easing by the US central bank.

PHILIPPINE SAVINGS Bank (PSBank) raised P6.3 billion in fresh funds via two-year fixed-rate bonds as it saw robust demand from investors.

INSURANCE COMMISSIONER Dennis B. Funa was elected as chairman of Asian Reinsurance Corp. (Asian Re), the Insurance Commission (IC) said.

THE PESO recovered sharply against the dollar on Thursday on the back of dovish remarks from US Federal Reserve chair Jerome Powell.

UNISYS CORP. expects open banking in the Philippines to accelerate as banks start to unlock their potential and amid the receptive behavior of Filipino clients towards new technology.

THE INSURANCE Commission (IC) issued a cease and desist order against health maintenance organization (HMO) Caritas Health Shield, Inc. due to alleged fraudulent card swiping and misrepresentation of sales agents.

CHINA BANKING Corp. (China Bank) expects its loan growth to ease slightly this year due to base effects following inflation’s surge in 2018.

VETERAN BANKER Eugene S. Acevedo took the helm of Rizal Commercial Banking Corp. (RCBC) this month following the retirement of the lender’s former chief.

THE PESO SLID against the dollar on Wednesday following dovish remarks from Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

ROBINSONS BANK Corp. will start its maiden peso bond offer later this month through which it is looking to raise up to P5 billion to support lending growth.

THE PESO gained a tad against the dollar on Tuesday as it moved sideways ahead of the testimony of Federal Reserve chair Jerome Powell before the US Congress.

THE GOVERNMENT made a full award of the Treasury bills (T-bill) on offer yesterday, with rates dropping across all tenors on overwhelming demand brought by the second phase of reductions to banks’ reserve requirement ratios (RRR) as well as limited supply of short-dated securities.

CHINA BANKING Corp. (China Bank) raised P30 billion via its maiden fixed-rate bond offering to boost funding flexibility.

THE PESO dropped against the dollar on Monday, dragged by better-than-expected jobs data in the United States.