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Dirty money watchdog tweaks rules to cover casinos

THE ANTI-MONEY LAUNDERING COUNCIL (AMLC) has tweaked rules on administrative cases to cover casinos -- including their officers, directors and employees -- and introduced gradation of fines according to gravity of violation.

Peso to trade sideways

THE PESO could trade sideways this week after the less dovish remarks from the US Federal Reserve chair’s speech last Friday.

Hot money returns in July

MORE foreign capital went into the country in July to yield a net inflow, snapping four consecutive months of outflows, the central bank reported on Thursday.

Term deposit yields mixed

YIELDS ON term deposits ended mixed on Thursday as banks preferred the longer tenors in anticipation of a long weekend as well as the release of the central bank’s August inflation forecast next week.

Peso inches up ahead of Powell speech

THE PESO moved sideways on Thursday following the release of minutes of the US Federal Reserve’s July meeting and as markets stayed on the sidelines ahead of the US central bank chief’s Jackson Hole speech.

Economists watch for impact of Hong Kong crisis

HONG KONG is one of the Philippines’ bigger investment and trading partners, but a recession there -- as warned last week -- will likely have limited direct impact on the latter’s economy, ranking state as well as private sector economists said in recent interviews.

Peso seen weakening on Fed meet minutes

THE PESO will likely end on a weaker note today after the release of the minutes of the US Federal Reserve’s July policy meeting.

Peso inches higher as US grants Huawei reprieve

THE PESO moved sideways on Tuesday after the US government granted a 90-day extension for Chinese telecommunications firm Huawei Technologies Co., Ltd. to buy US-made components to service its existing customers.

PHL external payment position turns around

THE COUNTRY’s external financial position turned around in July from the preceding month and a year ago, fueled by dollar inflows from the central bank’s foreign exchange operations and income from its investments abroad, the Bangko Sentral ng Pilipinas (BSP) said in a press release on Monday.

Peso climbs as markets hope for US-China deal

THE PESO rose on Monday amid optimism on the trade talks between the United States and China, even as US President Donald Trump expressed reluctance to seal a deal in the near term.

BSP setting up MSME credit risk database

THE CENTRAL BANK has been working to establish a credit risk database to help deserving micro, small and medium enterprises (MSMEs) tap funds.

Peso to trade sideways

THE PESO is seen to trade sideways this week as the market awaits developments in the ongoing trade dispute between the world’s two largest economies.

Peso gains ground on upbeat US data

THE PESO ended stronger on Friday as traders took profit after favorable July retail sales data from the United States.

June remittances smallest in 9 months

MONEY SENT HOME by Filipino workers abroad slipped for the first time in 10 months and marked the worst performance in a year, according to data the central bank released on Thursday.

BPI eyeing fresh dollar bond issuance this year

AYALA-LED Bank of the Philippine Islands (BPI) will remain “opportunistic” in tapping the dollar bond market this year for its funding requirements, a senior bank official said on Thursday.

Peso weakens on recession fears as US Treasury yield curve inverts

THE PESO depreciated on Thursday as fears of a global recession gripped financial markets following the inversion of the US Treasury yield curve.

Yields on term deposits decline following BSP’s policy rate cut

YIELDS ON term deposits dropped further on Wednesday as demand increased after the policy rate cuts implemented by the central bank last week.

Less than 10 banks looking to adjust ATM fees BSP

THE BANGKO SENTRAL ng Pilipinas (BSP) has received “below 10” applications from banks for adjustments of fees for transactions coursed through automated teller machines (ATM) after the moratorium on such tweaks was lifted last month, a senior official said on Wednesday.

Peso recovers vs dollar as Trump delays tariffs

THE PESO appreciated on Wednesday after the United States put off its implementation of additional tariffs on Chinese goods to December.

May FDI net inflow smallest in 4 years

MAY was marked by a net inflow of foreign direct investments (FDI) that was nevertheless the smallest in more than four years, the central bank reported on Tuesday.

DBCC to check assumptions anew

THE INTERAGENCY Development Budget Coordination Committee (DBCC) plans to meet again on Aug. 27 to consider “new” macroeconomic assumptions like inflation, the central bank chief said on Tuesday.

BSP to ‘pre-announce’ action on banks’ reserve requirement

THE BANGKO SENTRAL ng Pilipinas (BSP) will “pre-announce on a quarterly basis” its intention on banks’ reserve requirement ratio (RRR) in order to prepare markets, BSP Governor Benjamin E. Diokno said on Tuesday.

BSP sees no immediate hike in ATM fees as moratorium ends

THE CENTRAL BANK chief quelled market speculations of an impending hike in fees for transactions conducted through banks’ automated teller machines (ATMs).

BDO sees steady loan growth

BDO UNIBANK, Inc. expects its loan portfolio to continue to grow by single digits this year, its top official said on Tuesday.

Peso expected to move sideways as markets look for fresh drivers

THE PESO is seen to move sideways this week amid a lack of fresh leads, with the market to be on the lookout for the latest currency news from China.

S&P expects strong loan growth

DEBT WATCHER S&P Global Ratings sees Philippine banks’ loan growth at double digits this year as the banking sector and the Asia-Pacific region’s stable outlook is seen steady despite headwinds arising from trade tensions between the world’s two largest economies.

BSP chief signals more policy tweaks ahead

Another cut in key policy rates as well as banks’ reserve requirement ratio (RRR) “can take place some time next month”, BSP Governor Benjamin E. Diokno said in an interview aired over ABS-CBN News Channel on Friday afternoon.

BSP cuts key rates, inflation forecasts

THE CENTRAL BANK’s policy-setting body on Thursday cut benchmark interest rates by a quarter percentage point, as well as the inflation forecast this year and next, hours after the Philippine Statistics Authority (PSA) reported that the economy grew at the weakest pace in four years in the second quarter and two days after the PSA said that July inflation was the slowest in two-and-a-half years.

Term deposit yields decline ahead of BSP review

YIELDS ON term deposits declined as demand went up on Wednesday ahead of the central bank’s policy meeting.

RCBC sees double-digit profit growth

YUCHENGCO-LED Rizal Commercial Banking Corp. (RCBC) is on track to grow its bottom line this year by double digits, a senior official said, as the bank’s net income climbed by almost a fourth during the first half.

July GIR rises slightly vs June — central bank

GROSS international reserves (GIR) rose in July to $85.183 billion, up slightly from a month earlier and exceeded the central bank’s estimates for the full year.

Peso returns to P52:$1 level on lingering US-China trade woes

THE PESO weakened further, returning to the P52-per-dollar level, as markets continued to react to lingering US-China trade tensions.

July inflation slowest in 31 months

INFLATION eased further in July, the Philippine Statistics Authority (PSA) reported on Tuesday, lending support to expectations for the central bank to continue loosening monetary policy.

AUB posts double-digit income growth

ASIA UNITED Bank Corp. (AUB) booked a double-digit growth in net income during the first semester, it said yesterday.

Peso sinks further on yuan move

THE PESO sank on Tuesday as tensions between the world’s two largest economies escalated further after the former tagged the latter as a “currency manipulator.”

Peso weakens vs dollar

THE PESO edged lower on Monday after China’s central bank devalued its own currency in retaliation against US’ planned additional tit-for-tat tariffs on China this September.

Coffee segment’s resurgence lifts Universal Robina stock

GROWTH prospects from Universal Robina Corp.’s (URC) coffee business made the Gokongwei-led firm one of the most actively traded issues in the local bourse last week.

Inflation impact on poor eases in June

JUNE inflation, as experienced by low-income families, softened to its slowest pace in 18 months, according to the Philippine Statistics Authority.

Factory output continues to decline

FACTORY OUTPUT posted its sixth consecutive month of decline in May albeit at a slower pace, the Philippine Statistics Authority (PSA) reported on Friday.

Growth prospects boost Andrew Tan-led property company’s stock

INVESTORS bought Megaworld Corp. shares last week given the company’s attractive growth prospects amid its aggressive expansion plans and its insulation from the moratorium on the economic zone development in Metro Manila that would put Information Technology and Business Process Management (IT-BPM) projects on hold.

Central bank expects inflation to have resumed slowdown this month

HEADLINE INFLATION this month — to be reported on July 5 — likely slowed from a year ago and from May amid lower rice prices, an electricity rate reduction and a stronger peso that made imports cheaper, the Bangko Sentral ng Pilipinas (BSP) Department of Economic Research said in an e-mail on Friday.

Visa vows to strengthen payment security in PHL

SHANGHAI, CHINA -- Payments provider Visa, Inc. unveiled a three-year road map that aimed to strengthen payments security in the Philippines, where many Filipinos still prefer to use cash over credit despite the rise of e-commerce.

Power underwhelming:Why are there power outages?

IN THE PHILIPPINES, one would have to get used to brownouts, or the drop in voltage in an electrical power supply system. Whether or not it is intentional, these outages have wide-ranging effects on the economy: households would experience no electricity for a few minutes or even for hours, causing great inconvenience; businesses would incur higher costs by way of lost revenue and reduced productivity; and investors would be hesitant to do business, leading to reduced investments.

Yields on gov’t debt drop

YIELDS ON government securities (GS) edged lower as they continued to track US Treasuries’ decline due to a possible Federal Reserve rate cut within the year.

Duterte pitches ‘corruption-free’ PHL

A DAY after the release of the 2019 World Competitiveness Report showing the Philippines partially recovering from a nine-notch fall on a list of 63 economies but still second to the last in Asia and the Pacific, President Rodrigo R. Duterte assured a gathering of Japanese businessmen in Tokyo of a “corruption-free” business environment in which he would meet “in 24 hours” with anyone who has a complaint about “hindrances, obstruction or outright corruption.”