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AUCTIONS FOR THE term deposit facility (TDF) of the central bank will be “adjusted accordingly” as the preference for cash meant for holiday spending starts to subside in January, according to Bangko Sentral ng Pilipinas (BSP) Monetary Policy Sub-Sector Officer-In-Charge Dennis D. Lapid said on Friday.
BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno dismissed the risks to the banking system posed by online gaming firms, adding to his long-standing position that the Philippines can easily do without the industry.
THE Bangko Sentral ng Pilipinas (BSP) said the reduced reporting requirements for banks on their interest rates on loans and deposits (IRLD), eliminating daily reports from the industry’s regulatory obligations, take effect this month.
SUN LIFE OF Canada (Philippines), Inc. has hit its customer target one year ahead of its initial plan and is now looking at deepening its relationships with its existing client base for the next few years.
THE PESO weakened on Thursday even after the signing of the phase one deal between the United States and China, suggesting that markets may not be fully convinced of the positive impact of the landmark agreement on tariffs between the two countries.
CONSUMPTION will remain the economy’s main prop amid global headwinds and calamities, with investment remaining clouded due to uncertainty surrounding corporate tax reform and regulated industries like water, participants at a First Metro Investment Corp. (FMIC) briefing said.
THE CONTINUED ERUPTION of Taal Volcano in Batangas province risks the country’s utilities, agriculture, transport and tourism sectors, not to mention overall economic growth, analysts said on Monday.
PHILIPPINE developers are expected to sustain double-digit growth in pre-sales and profit this year, according to the research arm of Morgan Stanley.
THE PESO moved sideways on Friday as the market was on wait-and-see mode a week before the anticipated signing of the phase one deal between the world’s two biggest economies.
YIELDS ON term deposits slipped on Wednesday on the back of higher bids as the central bank gave the market fresh signals it would ease monetary policy further this year and amid escalating geopolitical tensions in the Middle East, which may have caused investors to put their money in safer havens.
WHILE THE PESO could strengthen against the greenback in the short term on the back of the phase one deal between the US and China, it may weaken later in 2020 up to 2021 due to further monetary easing and the widening of the current account deficit, according to analysts.
THE central bank governor remains bullish about the economy in 2020, noting that inflation remains “subdued,” and that growth assumptions will not be significantly dented until oil prices hit $90 per barrel.
GROSS international reserves (GIR) hit record levels at the end of 2019, the Bangko Sentral ng Pilipinas (BSP) said, with analysts citing risk-on sentiment that drew foreign money out of safe havens, amid a narrower trade deficit.
FOREIGN direct investments (FDI) in the Philippines will be dampened in 2020 by investors awaiting the final form of the corporate income tax law, an HSBC analyst said.
THE PESONET Steering Committee is looking at ways to enhance its electronic fund transfer (ETF) service scheme in order to ease digital transactions.
THE business sector is bullish on mergers and acquisitions (M&A) across a range of sectors because it is confident in continued growth, making transport, utilities and telecoms particularly attractive, ING Bank N.V. said.
UNION BANK of the Philippines, Inc. said it received approval from the Bangko Sentral ng Pilipinas (BSP) to issue up to P20 billion worth of notes.
CREDITORS of the defunct Maximum Savings Bank have been invited to submit their claims against the bank’s assets, the Philippine Deposit Insurance Corp. (PDIC) said.
THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.