MANILA, Philippines — Six Philippine banks have enabled coal projects by either underwriting or selling bonds meant to finance these developments, a move that goes against some of their commitments to stop coal funding, according to a new report. “Banks have not quit coal despite their coal divestment policies,” energy advocacy and bank watchdog group Withdraw from […]
Read MoreMANILA, Philippines — The government yesterday borrowed P35 billion from the debt market at a higher yield to investors due to the impending rate hike by the US Federal Reserve. The Bureau of the Treasury issued all of the P35 billion worth of reissued three-year Treasury bonds (T-bonds), with a remaining term of two years […]
Read MoreMANILA, Philippines — The research unit of Australia and New Zealand Bank expects the Bangko Sentral ng Pilipinas (BSP) to deliver its first interest hike in June, reversing the aggressive 200-basis-point cumulative rate cuts in 2020. In a report, ANZ Research said the BSP is likely to raise interest rates by 25 basis points in […]
Read MoreMANILA, Philippines — The tourism industry in the Philippines and some Asia-Pacific economies will still have a hard time recovering, even as restrictions are eased and borders opened. In its recent blog, Manila-based Asian Development Bank (ADB) said reopening does not really guarantee the same recovery across countries in the region, especially as policies vary […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is in talks with several banks and financial institutions for the pilot testing of the central bank digital currency (CBDC) in the fourth quarter. BSP Governor Benjamin Diokno said in an interview with ABS-CBN News Channel that the regulator continues to invite entities to participate in […]
Read MoreMANILA, Philippines — The government raises at least $2 million (P105 million) every day from taxes on sugar sweetened beverages (SSBs) as the country relies on fiscal reforms to generate revenues to finance its pandemic recovery, according to Finance Secretary Carlos Dominguez. Dominguez said the Philippines also saw its revenues improve when it slapped additional […]
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