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Policy rate cut seen as inflation slows

INFLATION likely slowed further in July as food prices sustained a decline, analysts said in a poll, adding that this would give space for the central bank to resume trimming benchmark interest rates after “a prudent pause” in its June 20 policy review.

Peso likely to weaken on US-China trade tensions

THE PESO will likely weaken against the dollar this week following escalating trade tensions between China and the United States.

SSS sickness benefits climb

THE SOCIAL Security System’s (SSS) disbursements of sickness benefits reached P984.42 million in the first four months, higher than the P875.42 million released in the same period in 2018.

PHL raises 92 billion yen from samurai bonds

THE Philippines raised ¥92 billion ($860 million or P44.3 billion) from the sale of ”samurai” bonds across four tenors, amid strong demand from investors.

Peso sinks on renewed US-China tensions

THE PESO dropped further against the dollar on Friday as the market’s risk appetite waned following escalating trade tensions between China and the United States.

BPI net earnings climb 47% in the 2nd quarter

BANK OF THE Philippine Islands (BPI) reported higher net earnings in the second quarter on the back of strong interest and non-interest income growth.

PBB posts higher profit

PHILIPPINE Business Bank (PBB) booked a higher net profit in the second quarter, boosted by its lending and trading businesses.

BDO Leasing books net loss in Q2

BDO Leasing and Finance, Inc. (BDOLF) posted a net loss in the second quarter dragged by compressed margins.

Further easing expected from central bank as inflation drops

THE Bangko Sentral ng Pilipinas (BSP) is expected to further reduce its interest rates and the bank reserve requirement ratio (RRR) on the back of easing inflation, First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) said.

Peso plunges against the dollar as Fed makes ‘insurance’ rate cut

THE PESO declined against the dollar on Thursday after the US Federal Reserve cut benchmark rates.

BSP: July inflation could be as low as 2%

THE OVERALL RISE in prices of widely used goods could have eased to its slowest pace in more than two-and-a-half years last month, the central bank announced on Wednesday, citing lower rice and liquefied petroleum gas (LPG) prices, cheaper electricity rates and a stronger peso that made imports cheaper.

Term deposits undersubscribed as BSP increases auction volume

DEMAND FOR term deposits climbed on Wednesday but remained below program amid a higher offer volume from the Bangko Sentral ng Pilipinas (BSP) following the final phase of cuts to lenders’ reserve ratios.

Liquidity growth steady in June despite RRR cuts

MONEY SUPPLY growth remained steady amid slightly lower demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday, even as the central bank trimmed lenders’ reserve requirement ratios (RRR).

Singapore Life looking to enter Philippine market

SINGAPORE LIFE, a multinational, digital-only life insurance company, is expected to enter the Philippines soon, according to a senior official of the Philippine Life Insurance Association (PLIA).

Peso ends flat vs dollar ahead of Fed decision

THE PESO was steady against the dollar on Wednesday as market participants stayed on the sidelines ahead of the conclusion of US Federal Reserve meeting.

PHL returns to ‘samurai’ bond market

THE PHILIPPINES has launched an offer of yen-denominated “samurai” bonds from which it plans to raise about $750 million, National Treasurer Rosalia V. De Leon told reporters on Tuesday.

Gov’t makes full award of 20-year bonds

THE GOVERNMENT made a full award of the reissued 20-year Treasury bonds (T-bond) it offered yesterday amid healthy demand as market participants await the policy decision of the local and US central banks.

PBB raises P3 billion via notes

PHILIPPINE Business Bank (PBB) raised P3 billion in fresh funds via a corporate note issuance to support its consumer loan business.

Peso rebounds ahead of Fed review

THE PESO recovered on Tuesday as market players sold dollars to take position ahead of a possible interest rate cut by the US central bank.

UnionBank posts higher net profit in 2nd quarter

UNIONBANK of the Philippines, Inc. saw its net income surge in the second quarter on the back of strong net interest income growth and lower operating expenses.

PSBank lists P6.3-B fixed-rate bonds

PHILIPPINE SAVINGS Bank (PSBank) has listed its maiden fixed-rate bonds worth P6.3 billion, with the offer met by robust demand from investors.

Peso weakens vs dollar on US GDP growth data

THE PESO weakened against the dollar on Monday due to a stronger-than-expected US gross domestic product (GDP) report.

Treasury bonds to fetch lower rates ahead of Fed

THE GOVERNMENT will likely fetch lower yields for reissued 20-year bonds to be auctioned off tomorrow as market participants await the policy decision of local and US central banks.

Peso expected to trade sideways ahead of US central bank review

THE PESO will likely move sideways against the dollar ahead of the possible policy easing of the US Federal Reserve.

Robinsons Bank raises P5B via bonds

ROBINSONS BANK Corp. raised P5 billion from its maiden bond offering amid robust investor demand, with the lender planning to issue the next tranche before the year ends.

IC places Loyola Plans under conservatorship

THE INSURANCE Commission (IC) placed pre-need firm Loyola Plans Consolidated, Inc. under conservatorship for failing to comply with capital, trust fund and reportorial requirements.

Gov’t debt declines month-on-month in June on stronger peso

THE government’s outstanding debt declined in June month-on-month on the back of loan repayments and currency fluctuations, the Bureau of the Treasury (BTr) said.

Peso continues rally ahead of US growth data

THE peso continued its rally against the dollar on Friday as traders positioned ahead of the release of US economic growth data by selling the greenback.

Central bank issues rules on bank investments

THE central bank on Friday said it had issued guidelines on investment activities of banks and quasi-banks.

Loan growth buoys Metrobank Q2 earnings

METROPOLITAN Bank & Trust Co.’s (Metrobank) net income in the second quarter rose 15.5% to P6.48 billion from a year earlier, buoyed by sustained loan and margin growth as well as fee-based profit, the lender said in a statement to the stock exchange on Friday.

BSP board member: ‘no rush’ to cut rates

THE BANGKO SENTRAL ng Pilipinas (BSP) can wait for more economic data before easing monetary policy again, a member of the policy-setting Monetary Board said.

UnionBank launches stablecoin PHX for use on its blockchain platform

UNIONBANK of the Philippines, Inc. launched its own stablecoin to provide rural banks under its blockchain-powered platform easier access to remittance and payments.

PAGCOR H1 net falls on high year-earlier base

THE Philippine Amusement and Gaming Corp. (PAGCOR) said net profit fell sharply in the first half, with growth coming off a high year-earlier base after a 2018 property sale.

Peso recovers vs dollar

THE PESO recovered versus the dollar on Thursday, even as it moved in a tight range ahead of the policy meeting of the European Central Bank (ECB).

IMF cuts Philippine growth forecast further

THE INTERNATIONAL MONETARY FUND (IMF) has further slashed its economic growth forecast for the Philippines this year and the next due to weaker-than-expected external demand and state spending last semester.

Demand for BSP’s term deposits drops ahead of reserve ratio cut

BANKS’ DEMAND for term deposits declined on Wednesday amid a higher offer volume from the Bangko Sentral ng Pilipinas (BSP) and ahead of the final phase of cuts to lenders’ reserve ratios.

LANDBANK to submit progress report to Palace

LAND BANK of the Philippines (LANDBANK) is set to submit a report to Malacañang on its programs supporting the agriculture industry, after President Rodrigo R. Duterte threatened to abolish the bank for supposedly neglecting its mandate.

Peso continues to drop

THE PESO weakened further against the dollar on Wednesday ahead of likely upbeat US economic data and following comments from the local central bank’s chief.

BSP: Inflation could slow to below 2% this quarter

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 pilots cross-border blockchain remittance service

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.

Peso weakens further vs dollar

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

Fiscal balance swings to deficit in June, but 1st half gap...

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 targets to launch trust arm before yearend

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.

Bank clients grapple with branch separation anxiety

FOR much of history, banking was done in branch offices, but beginning in the late 20th 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?

T-bills seen to fetch mixed rates ahead of Fed, BSP policy...

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.