MANILA, Philippines — Manila-based Asian Development Bank committed $22.8 billion last year for Asia-Pacific to sustain pandemic response and aid in economic recovery, with the Philippines still securing one of the highest lending in the region. Based on its 2021 annual report, the multilateral lender’s commitment from its own resources reached $22.8 billion, down 28 […]
Read MoreMANILA, Philippines — The country’s largest banks continue to take a hit from the interest rate cap imposed by the Bangko Sentral ng Pilipinas (BSP) on credit card charges for more than a year. Nestor Tan, president and CEO of Sy-led BDO Unibank Inc., said the cap on credit card interest rates imposed in November […]
Read MoreMANILA, Philippines — Cargo volume handled by the country’s ports grew in the first quarter, driven by strong domestic trade which offset a slight decline in foreign cargoes. Data provided by the Philippine Ports Authority (PPA) to The STAR showed that cargo throughput reached 58.24 million metric tons (MMT) in the first quarter, up 2.66 […]
Read MoreTHE rate of the Bangko Sentral ng Pilipinas’ (BSP) 28-day bills declined anew on Friday as demand for the debt paper continued to remain strong. Data released by the central bank showed that the average rate of the securities slipped to 1.9102 percent from 1.9144 percent during the auction last April 18. The BSP lowered […]
Read MoreMANILA, Philippines — The Philippines is on its way to a full economic recovery from a recession caused by the pandemic despite the recent surge in cases in China as well as the impact of Russia’s invasion of Ukraine, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno. In an interview with CNN international […]
Read MoreMANILA, Philippines — Philippine banks are expecting increased loan demand from companies and households in the current quarter amid easing COVID restrictions and increasing economic activity, according to the results of a survey conducted by the Bangko Sentral ng Pilipinas (BSP). Based on the Senior Bank Loan Officers’ Survey (SLOS) for the first quarter, the […]
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