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Peso drops on China virus fears

THE PESO WEAKENED on Thursday as investors opted to buy more dollars amid heightened fears of the potential economic impact of the spread of a coronavirus from Wuhan, China.

Yields on term deposits drop on euro bond issue

TERM DEPOSIT yields continued to slip on Wednesday following the government’s issuance of euro-denominated bonds.

AMLC, PAGCOR ink deal on money laundering risks

THE ANTI-MONEY Laundering Council (AMLC) inked deal with the Philippine Amusement and Gaming Corp. (PAGCOR) to tighten their cooperation for its feedback mechanism amid money laundering and terrorism financing risks that come amid the rise in internet-based casinos, casino junkets, as well as Philippine Offshore Gaming Operators (POGOs).

Peso rebounds on profit taking ahead of GDP data

THE PESO rebounded on Wednesday after five straight days of depreciation as the market went profit taking a day before the release of data on the country’s growth for the fourth quarter.

IMF keeps growth forecast for PHL

THE International Monetary Fund (IMF) maintained its growth forecast for the Philippines for this year, despite lowering global growth projections.

AMLC wants power to issue subpoenas

THE Anti-Money Laundering Council (AMLC) is seeking to have the power to issue subpoenas, as part of its efforts to go after financial crimes.

PHL banking sector seen to weather risks this year on economy’s...

BANKING SYSTEMS in emerging economies will face three key risks in 2020, including uncertainties from geopolitical and domestic policies, deterioration in asset-quality indicators, and risks coming from volatile investor sentiments, according to S&P Global Ratings.

Peso drops ahead of GDP

THE PESO continued to weaken on Tuesday due to uncertainties from regulatory risks and as the market awaits data on the country’s economic growth in the fourth quarter.

Government set to issue euro bonds

THE Bureau of the Treasury (BTr) is set to issue euro-denominated bonds again this year, according to National Treasurer Rosalia V. de Leon, with the government also gauging the market’s appetite for dollar-denominated papers.

BoP swings to surplus in 2019

THE PHILIPPINES welcomed more dollars in 2019, driving a balance of payments (BoP) surplus that was the biggest since 2012 and reversing the deficit in 2018, the Bangko Sentral ng Pilipinas (BSP) said on Monday.

T-bills partially awarded as rates climb

THE GOVERNMENT partially awarded the Treasury bills (T-bills) it auctioned off yesterday as rates increased across-the-board amid continued worries due to the Taal Volcano eruption, which has already been considered as an upside risk to inflation.

UnionBank to redeem Tier 2 notes

UNIONBANK OF THE Philippines, Inc. is set to redeem P7.2 billion worth of unsecured subordinated notes on Feb. 20 as it has exercised its call option for the papers.

Peso weakens on worries over Middle East tensions

THE peso weakened on Monday amid declines in the local stock market and as worries over oil prices arose amid tensions in the Middle East.

Peso to strengthen anew ahead of Q4 GDP report

THE PESO is seen to strengthen this week on the back of expectations of strong fourth-quarter economic growth.

Central bank to adjust TDF offers as demand wanes, issue own...

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.

Virtual lenders dip their toes in the banking waters

LONG QUEUES are a familiar scenario for bank clients transacting over-the-counter. Avoiding this waiting time, and the ability to transact during off hours, have long been a selling point for the online banking industry. The question for this age of improved connectivity, broader smartphone penetration, and an up-and-coming digital-first generation is whether a point of no return has been reached, giving the industry critical mass.

BSP has space to ease monetary policy — Diokno

THE Bangko Sentral ng Pilipinas (BSP) has enough “monetary space” amid easing by central banks around the world, BSP Governor Benjamin E. Diokno said on Friday.

BSP’s Diokno dismisses banking-sector risk from POGOs

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.

Reduced interest rate reporting for banks take effect this month

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.

‘Hot money’ leaves PHL in 2019

MORE FOREIGN funds left than entered the country last year as global uncertainties took a toll on investor sentiment in the Philippines and other emerging economies.

Sun Life hits five million clients as millennial market expands

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.

Bangko Sentral net income slips at end-November

THE CENTRAL BANK’S net profit as of November slipped compared to the previous year as gains from currency fluctuations decreased.

Peso declines further vs dollar despite signing of US-China deal

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.

Remittance growth slows in Nov.

MONEY sent home by overseas Filipino workers (OFWs) recorded its slowest pace of growth in nearly five months in November due to lingering global uncertainties.

TDF yields decline despite lower demand

YIELDS ON term deposits continued to slip on Wednesday despite lower bids, with the market expecting monetary easing this quarter, as hinted on by the central bank chief.

Peso weakens vs dollar

THE PESO weakened on Wednesday amid risk-off sentiment in the market due to the US signaling it will only consider further reductions in Chinese tariffs after the elections in November.

BPI eyes P3B from two-year bonds

BANK of the Philippine Islands (BPI) is looking to raise up to P3 billion through the issuance of peso-denominated fixed-rate bonds.

Consumption-led boom seen continuing into 2020 — FMIC

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.

Peso climbs on improved sentiment on US-China

THE PESO climbed on Tuesday amid positive market sentiment on the back of seemingly improving US-China ties ahead of the signing of the phase one trade deal.

Taal Volcano eruption risks GDP growth, analysts say

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.

Firms eye customized banking services

LOCAL COMPANIES are looking to avail of customized banking services to improve the efficiency of their transactions, according to UnionBank of the Philippines, Inc.

Agency banking transactions rose in 2019

THE COUNTRY’S digital agency banking in 2019 took a leap as transactions ballooned by more than fivefold, fueled by withdrawal transactions of conditional cash transfer beneficiaries.

Developers expected to sustain double-digit pre-sales growth this year

PHILIPPINE developers are expected to sustain double-digit growth in pre-sales and profit this year, according to the research arm of Morgan Stanley.

BSP looks to strengthen financial inclusion push

THE BANGKO SENTRAL ng Pilipinas (BSP) will continue its drive to push for financial inclusion in 2020, according to BSP Governor Benjamin E. Diokno.

Peso may strengthen on US-China phase one deal

THE PESO may strengthen against the dollar this week on the back of better risk appetite as the market waits for the ceremonial signing of the phase one trade deal between the United States and China.

FDI net inflows rise in October

FOREIGN direct investments (FDI) inflows rebounded in October, reversing seven months of decline, according to data from the Bangko Sentral ng Pilipinas (BSP) released late Friday.

Rediscount loans rise in 2019

LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.

Peso inches down on cautious trading ahead of US-China deal

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.

GDP growth seen picking up this year

AFTER a projected slowdown in 2019, the Philippine economy is expected to grow faster this year due to strong government spending, but may still fail to meet the official target amid domestic and external headwinds.

Peso strengthens vs dollar

THE PESO climbed against the greenback on Thursday with tensions between US and Iran seen to have somehow subsided.

Property price hikes pose rising risk to banks

PROPERTY PRICE hikes fueled by the Philippine offshore gaming operators (POGO) sector may pose increasing risks to the banking industry, according to Fitch Ratings.

Liquidity, lending growth pick up in November

MONEY SUPPLY in November saw a quicker expansion on the back of the central bank’s easing stance being absorbed by the market.

Yields on term deposits decline on safe-haven demand amid concerns

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.

Peso edges sideways

THE PESO moved sideways on Wednesday as it was supported by the influx of remittances amid risk-off sentiment arising from escalating geopolitical tensions in the Middle East.

Peso may weaken anew on rate cuts, CA deficit

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.