Tag: Luz Wendy T. Noble

FOREIGN DIRECT INVESTMENTS (FDI) continued to recover for the second straight month in November after months of drought, though still down during the 11-month period from a year earlier, according to the Philippine central bank.

THE PESO depreciated slightly on Monday following the appreciation of the Chinese yuan and as markets continue to factor in a possible global growth slowdown due to the novel coronavirus outbreak.

THE Philippine central bank would probably cut benchmark interest rates again this year to shield the economy from a coronavirus outbreak and a slew of natural calamities, analysts said.

THE PESO is likely to rise this week with the market anticipating better trade deficit data and with the market factoring in the positive US jobs report released late last week.

THE BANGKO SENTRAL ng Pilipinas (BSP) is extending the transitory period of the current basis for the Single Borrower’s Limit (SBL) of foreign bank branches in a move to boost support for the government’s infrastructure projects.

THE PHILIPPINES has space to adopt expansionary fiscal and monetary policy if risks to economic growth emerge, the International Monetary Fund (IMF) said, even as it expects expansion to improve this year amid downside risks.

JAPAN-BASED Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating on the back of its positive growth performance, healthy fiscal conditions and its infrastructure development drive.

THE PESO strengthened on Friday on prospects of another rate cut this year and amid developments in the trade talks between the world’s two biggest economies.

THE HOME Development Mutual Fund (Pag-IBIG Fund) booked a higher income in 2019 on the back of loan payment collections.

THE Philippine central bank cut benchmark interest rates on Thursday to take advantage of slower price increases and shield the economy from the effects of a deadly coronavirus outbreak.

A CORONAVIRUS outbreak that has killed hundreds and sickened thousands more in China could dent growth in the next two quarters by an average 0.3 percentage point each, the central bank said yesterday.

UNIONBANK OF THE Philippines, Inc. is seeking to raise P5 billion through unsecured subordinated notes.

THE overall year-on-year increase in prices of widely used goods picked up for the third straight month in January by its fastest pace in eight months, the government reported on Wednesday.

SAMSUNG Philippines on Tuesday unveiled two new smartphones models to cater to working millennials as well as young digital content creators.

BIDS FOR THE central bank’s term deposits declined as investors were looking ahead to a possible rate cut at this week’s policy meeting and amid concerns related to the coronavirus outbreak.

MONEY SUPPLY growth in December accelerated with the financial system continuing to feel the impact of the easing stance taken by the central bank in 2019.

THE PESO weakened on Wednesday with the market factoring in a possible rate cut this Thursday and on expectations of upbeat US non-manufacturing data.

PHILIPPINE economic growth could slow this quarter as factory closures in China, which is battling a coronavirus outbreak that has killed hundreds and sickened thousands more, hit the global supply chain, according to Mitsubishi UFJ Group (MUFG) Global Research.

THE BANGKO SENTRAL ng Pilipinas (BSP) and Bank Indonesia (BI) may consider going into a joint regulatory sandbox to test cross-border retail payment linkages following the central banks’ recently signed memorandum of understanding (MoU), according to BSP Governor Benjamin E. Diokno.

THE PESO continued to climb on Tuesday as markets heeded positive signals from China’s central bank, which said it will lend support to the economy amid worries on the coronavirus outbreak.

THE BOND MARKET will continue to see an array of issuances this year on the back of strong economic growth prospects, according to a bank executive.

THE BANGKO SENTRAL ng Pilipinas (BSP) inked a deal with Bank Indonesia to boost their ties in improving payment systems and digital financial innovation.

THE Bangko Sentral ng Pilipinas (BSP) is more likely to cut key policy rates in March rather than this month due to stronger fourth quarter economic growth and the uptick in December inflation, HSBC Global Research said.

INFLATION likely quickened further in January mainly on the back of an uptick in food prices, some supply side shocks from the Taal Volcano eruption and continued diminishing base effects, analysts said in a BusinessWorld poll, with the central bank seen easing rates this week ahead of emerging risks to prices.

THE PESO is likely to strengthen this week with a rate cut possibly on the table and with inflation still manageable despite a possible uptick.

INFLATION may have settled at 2.5% to 3.3% in January, driven by rising food and liquefied petroleum gas prices and a higher tax on tobacco products, according to the central bank.

PHILIPPINE economic growth is likely to take a hit from a global coronavirus outbreak, with trade and tourism bearing the brunt, according to a Union Bank of the Philippines, Inc. note.

THE PESO closed stronger Friday amid perceptions China has taken effective measures to contain the coronavirus outbreak.

THE CENTRAL BANK is still looking to cut rates by at least 50 basis points (bps) this year, its chief said on Thursday.

TWO TO THREE banks have expressed interest to set up an Islamic banking unit in the country, according to Bangko Sentral ng Pilipinas Managing Director Arifa A. Ala.

BANK OF THE Philippine Islands (BPI) booked double-digit growth in its earnings in 2019 backed by bigger revenues.

ECONOMIC GROWTH is expected to come in at 6.3% in 2020 amid monetary easing and following the timely approval of the budget, according to analysts from Maybank Kim Eng.

THE PESO weakened further on Thursday as the spread of the coronavirus continues to escalate, with already one confirmed case in the country.

BIDS FOR THE central bank’s term deposits declined from the previous week but still filled the offer volume as liquidity returned following the holidays, causing rates to inch down.

BDO UNIBANK, Inc. raised P40.1 billion from the fixed-rate bonds it sold last week, over eight times its initial offer of P5 billion.

AFTER HITTING P83 billion worth of assets under management (AUMs) to date amid more investors investing through mutual funds, Sun Life Asset Management Co., Inc. (SLAMCI) is bullish they can hit P100 billion worth of AUMs this year.

THE PESO weakened on Wednesday as the dollar gained strength with investors opting for safer currencies amid heightened fears over the spread of the novel coronavirus from Wuhan, China around the world.

BDO UNIBANK, Inc. is selling its controlling stake in its publicly listed subsidiary BDO Leasing and Finance, Inc. (BDOLF), to a third party for about P5.451 billion as part of the restructuring of its leasing business.

RATES APPLICABLE for the central bank’s peso rediscount facility this month as well as dollar or yen-denominated loans have been increased after the adoption of a flexible term premium which was approved by the Monetary Board.

RIZAL COMMERCIAL Banking Corp. (RCBC) will establish a rural bank that will join the digital banking race in the country, the bank said in a filing with the local bourse on Tuesday.

THE PESO appreciated on Tuesday as oil prices went down amid worries related to the coronavirus’ spread and with investors going profit taking.

FOREIGN INVESTORS could pour in more than $10 billion in the Philippines once a measure that seeks to lower corporate income tax is enacted, central bank Governor Benjamin E. Diokno said last week.

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno downplayed economic risks that may arise from the continued spread of the novel coronavirus from Wuhan, saying the Philippines’ exposure to China is not that significant.

THE PESO could strengthen this week amid optimism coming from the recently signed sin tax bill.

INFLATION is likely to settle within the midpoint of the central bank’s target range this year until 2021, with risks tilting slightly upward, according to officials from the Bangko Sentral ng Pilipinas (BSP).