MANILA, Philippines — ANZ Research said the Bangko Sentral ng Pilipinas (BSP) may resume its easing cycle starting next month as it continues to reverse the tightening episode last year wherein benchmark rates were lifted by 175 basis points to prevent inflation from spiraling out of control. In its latest economic outlook, ANZ said the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has prioritized amendments to the bank deposit secrecy law as well as consumer protection in its legislative wish list for the next Congress. BSP Governor Benjamin Diokno said bills pertaining to amendments to the bank deposit secrecy law, the financial consumer protection bill, and the agricultural […]
Read MoreMANILA, Philippines — The Philippines stands to be the biggest loser in Asia, if US President Donald Trump pushes through with his threat to punish American firms outsourcing jobs, London-based think tank Capital Economics said. In a new research brief titled “Winner and losers from the trade war,” the research firm said the trade war […]
Read MoreThe array of small- and medium-scale businesses that contribute up to 62.5 per cent of employment and comprise 99.5 per cent of all businesses in the Philippines were getting only 9.2 per cent of loans and financing from the country’s major banks. These figures prompted the Union Bank of the Philippines to ask its fellow […]
Read MoreMANILA, Philippines — The Insurance Commission (IC) has tightened the rules on the investments of pre-need companies in savings or time deposits and unit investment trust funds (UITFs) to ensure that they are investing in well-managed funds. Last June 21, Insurance Commissioner Dennis Funa issued IC Circular Letter 2019-29, which clarified the rules on the […]
Read MoreMANILA, Philippines — The Insurance Commission (IC) is now allowing insurance firms and pre-need companies to invest in real estate investment trusts (REIT), providing them opportunities to diversify their investments and improve earnings. On June 21, Insurance Commissioner Dennis Funa issued IC Circular Letter 2019-27, which qualifies REIT as admitted asset for insurance companies and […]
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