Gov’t sells $1.5 billion in global bonds
THE PHILIPPINES sold $1.5 billion in 10-year offshore dollar bonds -- priced 110 basis points (bps) above benchmark US treasuries and tighter than an initial 130 bps guidance -- in an exercise which Finance officials said reflected investor confidence in the country.
Meralco bills lower this month
MANILA ELECTRIC CO. (Meralco) started the year with a reduction in the overall electricity rate to P9.835 per kilowatt-hour (/kWh) for January bills, down P0.3418/kWh from last month.
Fitch Solutions sees fiscal deficit falling below ceiling programmed for this year
THE PHILIPPINES will likely fall short of its budget deficit ceiling for 2019, Fitch Solutions said, explaining that it expects the government “to underspend” this year.
Money supply picks up in November even as loan growth eases
MORE MONEY circulated in the economy in November last year, even as loan growth continued to ease in the wake of a fifth increase in benchmark interest rates by the Bangko Sentral ng Pilipinas (BSP) that month.
What could go wrong in 2019? Eurasia Group outlines the risks
HONG KONG -- The global geopolitical environment is at its most dangerous in decades, according to Eurasia Group, the consultancy founded by Ian Bremmer.
December FX reserves top BSP forecast
FOREIGN EXCHANGE reserves recovered in December on the back of higher gold valuations and bigger foreign investment gains, to settle above the central bank’s yearend projection.
Philippines launches 10-year US dollar bonds
THE PHILIPPINES launched a 10-year US dollar bond issue on Monday, making it the first country in Asia to tap the global debt market this year, according to capital markets publication Refinitiv IFR.
SEC refines draft rules on initial coin offerings
THE SECURITIES AND EXCHANGE COMMISSION (SEC) has refined its proposed guidelines on initial coin offerings (ICOs) for another round of public consultation in the face of heightened interest in such fund raising.
SE Asia wary of China’s Belt and Road project, skeptical of US — policy...
SINGAPORE -- Southeast Asian countries should be cautious in negotiating with China on its flagship Belt and Road Initiative (BRI) to avoid being trapped in unsustainable debt, 70% of respondents said in a policy survey released Monday.
Nonprofit groups in watchdog’s sights
NONPROFIT OUTFITS in the Philippines have become channels for funds from illegal activities, the Anti-Money Laundering Council (AMLC) said in a report, citing over P600 billion worth of transactions involving corruption and fraud over the past five years.
Central bank readies new rules to manage credit risks better
THE CENTRAL BANK plans to roll out more rules to manage credit risks, a senior official said, explaining that the new regulations will enable banks to be more flexible in pricing loans for retail clients.
Peso faces new threat as Duterte gears up for poll
AS IF FALLING for six straight years wasn’t enough, the Philippine peso is now facing an additional threat: a midterm election that may compound concerns about its economy.