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PHL launches US dollar bond issue

THE PHILIPPINE government on Wednesday launched another dollar bond offering aimed to raise funds to cushion the impact of the coronavirus pandemic on the economy.

Gov’t makes full award of three-year bond offer

THE GOVERNMENT made a full award of the reissued three-year Treasury bonds (T-bonds) it offered on Wednesday as its yield declined following the surprise rate cut of the central bank and amid continued uncertainty in the economic environment.

PIRA to consider evaluating data using telematics for auto insurance

THE PHILIPPINE Insurers and Reinsurers Association (PIRA) said it would consider data evaluation based on telematics, a technology used in mobile phones to detect and analyze driving behavior, in replacing motor tariff and promoting insurance technology or insurtech.

Nationwide round-up (11/29/20)

THE Commission on Audit (CoA) has adopted innovative technologies and encouraged citizen participation to ensure government accountability amid a coronavirus pandemic, its chairman said Friday.

DBP P5 billion second-tranche bond issue to fund more environmental projects

The Development Bank of the Philippines (DBP) said it hopes to raise at least P5 billion from the second tranche of its P50-billion bond...

Pag-IBIG mortgage disbursements down 38% in first 9 months

The Home Development Mutual Fund, which operates under the trade name Pag-IBIG Fund, said home loan disbursements declined 38% to P36.43 billion the nine...

AIA Philam Life launches investment fund targeting overseas stocks

AIA Philippine American Life and General Insurance Co. Inc. (Philam Life) said it launched Friday an investment fund geared towards overses stock markets. The firm's...

Peso strengthens after BoP, exports data

The peso continued to strengthen against the dollar Friday, buoyed by balance of payments and gross international reserves data. The peso closed at P48.06 against...

Security Bank sees PHL GDP contracting by 9.9%

SECURITY BANK Corp. sees the economy shrinking by 9.9% this year due to slower business activity and with a vaccine against the coronavirus disease 2019 (COVID-19) still under development.

Gov’t scales back domestic bond program to P120B in Dec.

THE government plans to borrow P120 billion from domestic lenders in December, less than the P140 billion targeted for this month.

Gov’t borrowing to fund pandemic expenses driving bond market

BOND MARKET growth accelerated in the third quarter to meet government demand for funds to finance its coronavirus disease 2019 (COVID-19) containment efforts, the Asian Development Bank (ADB) said Wednesday.

ING launches account for electronic payments

DIGITAL mobile lender ING Bank N.V. Manila launched on Tuesday an account for electronic payments for bills and retail purchases.

Peso strengthens on vaccine news

THE PESO strengthened versus the dollar on Tuesday after drug firm AstraZeneca and its partner University of Oxford claimed their vaccine can be 90% effective.

Gov’t fully awards offer of T-bills

THE GOVERNMENT made a full award of Treasury bills (T-bills) it offered on Monday as yields declined across the board on the back of ample liquidity among investors and the central bank’s surprise rate cut last week.

Peso rises on BSP decision, vaccine hopes

THE PESO strengthened versus the dollar on Monday after the central bank’s decision to cut rates and on the continued progress in vaccine candidates against the coronavirus disease 2019 (COVID-19).

HMO profits surge in first half to P4.53 billion

HEALTH MAINTENANCE organizations (HMOs) posted net profit growth of 203% in the first half to P4.53 billion due to cost-management measures as well as increased demand during the pandemic, the Insurance Commission (IC) said Monday.

T-bill rates seen moving sideways

RATES OF the Treasury bills (T-bills) on offer this week may inch down or remain unchanged on the back of high liquidity among investors and the central bank’s latest rate cut.

Peso may climb vs the dollar on BSP easing, vaccine news

THE PESO may strengthen against the dollar this week after the central bank cut borrowing costs anew and on continued progress in trials for coronavirus disease 2019 (COVID-19) vaccine candidates.

Peso weakens ahead of BSP meeting

THE PESO weakened versus the dollar on Thursday ahead of the central bank’s latest policy decision and after the New York City government ordered schools to close again amid rising cases of the coronavirus disease 2019 (COVID-19) there.

Peso drops vs dollar on news of vaccine progress

THE PESO weakened versus the dollar on Tuesday despite news of progress in vaccine candidates against the coronavirus disease 2019 (COVID-19) and amid bargain hunting in the local stock market.

Gov’t increases T-bill award on strong demand

THE GOVERNMENT increased its award of Treasury bills (T-bills) on Monday as yields mostly declined on the back of strong liquidity in the financial system and as investors continued to favor short-dated debt.

Peso inches lower vs the dollar as pandemic clouds US outlook

THE PESO weakened slightly versus the dollar on Monday following the release of latest remittances data and amid worries over the long-term impact of the coronavirus disease 2019 (COVID-19) pandemic on the United States economy.

Rates of T-bills, bonds to move sideways on inflation outlook

RATES of government securities on offer this week may end flat or inch higher as investors expect inflation to remain benign and as US Treasury yields rise further.

Peso to climb further vs dollar ahead of remittances, BoP data

THE PESO may strengthen versus the dollar this week as coronavirus cases in the country continue to decline and ahead of the release of latest data on overseas Filipino workers’ (OFW) remittances and the country’s balance of payments (BoP) position.

Gov’t urged to seek foreign aid after typhoons

A SENATOR on Sunday urged the Department of Foreign Affairs (DFA) to seek help from the international community for victims of Typhoon Vamco, which killed at least 67 people and submerged many parts of Luzon island last week.

PSBank third quarter profit weighed down by surge in provisions

Philippine Savings Bank (PSBank) reported a sharp decline in net profit for the third quarter, joining an industry-wide trend of increased provisioning as the...

Peso ends stronger on vaccine development news, US inflation data

The peso closed stronger Friday on positive news regarding the development of another coronavirus vaccine, and as US inflation slowed in October. US biotechnology company...

Digital banks to boost inclusion

MORE FILIPINOS are expected to put their savings in digital-only banks that offer higher interest rates than traditional banks as the coronavirus pandemic has amplified the need for easily accessible emergency funds, ING Bank N.V. Manila said.

Rural banks to be given credit data access

INFORMATION solutions firm TransUnion Philippines plans to provide all rural banks in the country access to credit reports by 2022.

‘Premyo bonds’ launched

THE BUREAU of the Treasury (BTr) on Wednesday launched one-year peso-denominated “Premyo bonds” with an interest rate of 1.25% per annum, as it seeks to attract more small investors to government securities.

EastWest Bank net profit climbs at end-September

EAST WEST Banking Corp. (EastWest Bank) booked a higher net income in the first nine months on an improved net interest margin and increased trading gains.

OFBank sees surge in new accounts, transactions

OVERSEAS Filipino Bank (OFBank), the country’s first digital-only bank, recorded a surge in new deposit accounts and transactions in its first 100 days.

Peso ends flat vs dollar

THE PESO was flat versus the dollar on Wednesday as the growth of domestic liquidity and bank lending eased in September and amid developments in trials of vaccines for the coronavirus disease 2019 (COVID-19).

RCBC posts lower profit in Q3 on higher reserves

RIZAL COMMERCIAL Banking Corp. (RCBC) booked a lower net income in the third quarter as it increased loan loss provisions and waived fees for clients affected by the coronavirus pandemic.

Peso weakens versus the dollar on virus case tally, Q3 GDP...

THE PESO weakened versus the dollar on Tuesday as the daily tally of coronavirus disease 2019 (COVID-19) cases increased again and after the government posted a worse-than-expected economic contraction in the third quarter.

Gov’t upsizes T-bill award as yields drop further

THE GOVERNMENT upsized its award of Treasury bills (T-bills) on Monday as yields declined across the board amid strong liquidity in the market.

AUB income steady at end-Sept. on increased loan loss provisions

ASIA UNITED BANK Corp. (AUB) booked a steady net income in the first nine months of the year as it increased its loan loss reserves amid the coronavirus pandemic.

Peso climbs versus the dollar ahead of GDP data

THE PESO strengthened versus the dollar on Monday as the market expects the economy to have rebounded in the third quarter from its double-digit contraction in the April to June period.

T-bill rates to move sideways on strong liquidity

TREASURY BILLS (T-bills) on offer this week will likely see their rates move sideways as investors remain awash with cash and amid improved economic prospects here and abroad.

I-Remit sees OFW remittances growing in Q4 as economic activity resumes

I-REMIT, Inc. sees a double-digit growth in remittances from overseas Filipino workers (OFWs) in the last quarter, saying economic activity is resuming even amid the ongoing coronavirus pandemic.

Peso may rise on US vote results

THE PESO may climb further versus the dollar this week as the market expects a further decline in cases of the coronavirus disease 2019 and after the Democratic Party’s Joseph R. Biden, Jr. was projected to be the new 46th president of the United States.

Metrobank eyes double-digit growth in new online accounts

METROPOLITAN BANK & Trust Co. (Metrobank) is targeting double-digit growth in its new digital accounts following the expansion of its mobile services.

Inflation data lift peso

THE PESO strengthened versus the dollar on Thursday as inflation inched up in October and amid early results of the United States presidential election.

BTr makes full award of 3-year bonds despite rate uptick

THE GOVERNMENT made a full award of the reissued three-year Treasury bonds (T-bonds) it offered on Wednesday as its yield rose with inflation expected to tick up and amid an uncertain economic outlook in the United States.

Gov’t fully awards offer of T-bills as rates decline across the...

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Tuesday as yields declined across the board due to strong market liquidity and expectations of benign inflation.