Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
211 articles from BusinessWorld Banking
Peso strengthens vs dollar before Fed policy decision
THE PESO climbed further against the dollar on Wednesday as players positioned ahead of the US central bank’s…
Read more →TDF yields continue to go up as market sees further tightening
YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits rose further on Wednesday even as the offer was oversubscribed, as higher oil prices and the peso’s depreciation strengthened the case for further monetary policy tightening. Demand for the seven-day term deposit facility (TDF) reached P137.579 billion, exceeding the P120 billion placed on the auction […]
Read more →Gen Z seen as key drivers for rural digital payments adoption
Generation Z (Gen Z) consumers are major drivers of digital payment adoption growth in rural areas in the Philippines, even as older generations still rely on cash for both online and in-store purchases, according to experts. “It’s really younger that’s helping drive digital payment adoption compared to older rural consumers,” Omar Carlos, assistant vice president […]
Read more →BTr partially awards bonds as yields jump on oil price woes
THE GOVERNMENT made a partial award of the dual-tranche Treasury bonds (T-bonds) it offered on Tuesday, rejecting all…
Read more →Moody’s set to acquire minority stake in local credit rater PhilRatings
MOODY’S CORP., the holding company of global credit watcher Moody’s Ratings, is set to acquire a minority stake…
Read more →Peso rebounds after hitting P62.90 range
THE PESO rebounded slightly against the dollar on Tuesday from its latest all-time-low close, but still hit a…
Read more →Manulife Philippines appoints new chief operating officer
THE MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has appointed Erica Jurilla Santos as its new chief operating officer to help strengthen the company’s customer service and distribution. The appointment took effect on Sept. 15, the insurer said in a statement. Ms. Santos will focus on strengthening service, operational performance, digital adoption, and customer-focused […]
Read more →Manulife Philippines appoints new chief operations officer
THE MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has appointed Erica Jurilla Santos as its new chief operations officer to help strengthen the company’s customer service and distribution. Philippinemarket insights The appointment took effect on Sept. 15, the insurer said in a statement. Ms. Santos will focus on strengthening service, operational performance, digital adoption, […]
Read more →MoneyHero’s Filipino users hit 7.1M as of June
MONEYHERO Group saw its Filipino members increase to 7.1 million as of end-June despite lower volumes. This was up from six million a year earlier, representing 70% of the group’s 10.1 million total and making the Philippines its largest market in terms of members, it said. MoneyHero Group operates in the Philippines through financial comparison […]
Read more →T-bill rates climb further as oil surge fans inflation concerns
THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday, even as yields…
Read more →Monetary operations mop up P975 billion in excess liquidity — BSP
THE BANGKO SENTRAL ng Pilipinas (BSP) has mopped up under P1 trillion in excess money supply from its…
Read more →Financial consumer complaints continue to rise, central bank says
CONSUMER COMPLAINTS coursed through the Bangko Sentral ng Pilipinas (BSP) have continued to rise, with concerns on account management emerging as the top issue, a senior official said. Complaints seen so far this year have already breached the over 120,000 recorded last year, BSP Deputy Governor Bernadette Romulo-Puyat told reporters on Friday, which she attributed […]
Read more →T-bills, bonds may fetch higher rates on Mideast war concerns
TREASURY BILLS (T-bills) and bonds (T-bonds) to be offered this week could continue to fetch higher rates as surging global crude oil prices add to inflation risks that could push global central banks to tighten further. The Bureau of the Treasury (BTr) will auction off up to P60 billion in T-bills on Monday, or P20-25 […]
Read more →BSP net income rises at end-February
THE BANGKO SENTRAL ng Pilipinas’ (BSP) net income more than doubled as of February as lower expenses and increased gains from foreign exchange (FX) rate swings boosted its bottom line, preliminary data showed. In the first two months of the year, the central bank booked a P53.8-billion net profit, surging by 128.94% from P23.5 billion […]
Read more →Peso may slide to new lows vs dollar as conflict drives up price pressures, rate hike expectations
THE PESO could slide to new record lows against the dollar this week as the escalating conflict in the Middle East continues to push up global oil prices, heightening inflation concerns, and amid expectations of a rate hike from the US Federal Reserve this week. On Friday, the local unit sank by 14.5 centavos to […]
Read more →Yields up on inflation risks
YIELDS on government securities (GS) traded in the secondary market ended mostly higher last week as the Middle East conflict pushed up global oil prices, fanning inflation concerns and bets of monetary tightening. GS yields, which move opposite to prices, rose by an average of 10.66 basis points (bps) week on week, based on the […]
Read more →Central bank bills’ rate climbs
THE Bangko Sentral ng Pilipinas’ (BSP) short-term securities fetched a higher average rate on Friday, even as demand for the papers strengthened week on week. Tenders for the 28-day BSP bills amounted to P40.815 billion, exceeding the P40 billion auctioned off and rising from the P32.29 billion fetched in the previous week for the same […]
Read more →Peso slips on inflation fears as oil prices soar
THE PESO weakened against the dollar on Thursday on heightened inflation fears after global crude oil prices breached $100 per barrel. The currency declined by 2.2 centavos to close at P62.535 versus the greenback from P62.513 on Wednesday, data from the Bankers Association of the Philippines’ website showed. The local unit opened Thursday’s session slightly […]
Read more →Maya’s Visa wallet cards now on Google Pay
MAYA’S Visa wallet cards are now available for linking on Google Wallet and Google Pay, letting more of its users make cashless payments via near field communication-enabled Android devices. With the rollout, Google Pay is now available across all of Maya’s Visa cards, both physical and virtual. “This expands on Maya’s earlier Google Wallet and […]
Read more →MUFG Bank’s Manila branch gets universal bank license
MUFG Bank, Ltd. – Manila Branch is now a universal bank after the Bangko Sentral ng Pilipinas (BSP) upgraded its commercial banking license. In a circular letter dated Sept. 8, the BSP said its policy-making Monetary Board approved MUFG’s request to upgrade its license on May 21. “The Monetary Board, in its Resolution No. 438 […]
Read more →ATRAM launches feeder fund focused on gold-related equities
ATRAM Trust Corp. has launched a global equity feeder fund that gives investors exposure to gold-related equities, as demand for safer assets grows due to continued geopolitical uncertainty. The ATRAM Global Gold Equity Feeder Fund is a unit investment trust fund (UITF) designed for investors with an aggressive risk profile and a long-term investment horizon. […]
Read more →Remolona gets ‘A-’ grade in global central bankers’ report card for third straight year
BANGKO SENTRAL ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. has been named one of the world’s top central bank chiefs for a third straight year in the New York-based magazine Global Finance’s scorecard. Mr. Remolona earned an “A-” grade in Global Finance’s Central Banker Report Cards for the third year in a row, based […]
Read more →Philippine peso more exposed to external risks
THE PESO’S performance against the dollar remains the weakest among other currencies in the region as the Philippines’ weak external position exposes it more to global headwinds, Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC) said. “PHP (Philippine peso) continues to underperform regional peers, with elevated oil prices exacerbating an already challenging external backdrop,” OCBC Group Research […]
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