phil01
Read More

Philippines: Banks put under stress test as COVID-19 lingers

MANILA, Philippines — The central bank has conducted a stress test on banks to assess their capacity to take in heavy losses during the coronavirus disease-2019 (COVID-19) outbreak and community lockdowns that disrupted their business. “We are looking at the impact of the coronavirus pandemic on the bank industry,” central bank Governor Benjamin Diokno told Philstar.com in […]

Read More
phil01
Read More

Oil importer Philippines is sitting in a lot of fuel

MANILA, Philippines — Large stocks of oil are sitting idly in the country’s storage facilities with nowhere to go as nationwide and localized lockdowns crippled demand for fuel, triggering an unlikely problem in one of Southeast Asia’s top oil importers. While beneficial for the Philippine economy as a whole, an oil price slump is fanning […]

Read More