MANILA, Philippines — The Securities and Exchange Commission cleared four public offerings on Thursday, allowing these companies to continue raising cash to meet their needs amid the pandemic. In a statement, the SEC said it approved the planned fundraising activities of Ayala Land Inc., Synergy Grid & Development Phils Inc., Megawide Construction Corp. and The […]
Read MoreMANILA, Philippines — Customers of Manila Electric Co. would see higher power bills for the seventh straight month in October due to bigger transmission costs. In a statement on Friday, the largest power distributor in the country said the overall rate for a typical household “slightly” inched up by P0.0283 per kWh. The adjustment means […]
Read MoreMANILA, Philippines — The inflation slowdown last month is temporary as prices will likely pick up pace again and remain elevated until the middle of next year, a foreign think tank said. In its latest economic monitor, UK-based Pantheon Macroeconomics said the surprise easing to 4.8 percent in September inflation is likely just a blip […]
Read MoreMANILA, Philippines — Local factory output extended their growth streak in August, posting triple-digit expansion even as Metro Manila stayed in hard lockdown that month. What’s new The Philippine Statistic Authority’s monthly survey of industries reported that the volume of production index (VoPI), advanced 534.6% year-on-year in August, slightly slower than 537.9% in July. This […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas hit its digital payments volume target in 2020, as more consumers relied on online platforms to transact amid the pandemic. In a report released Thursday, the BSP said 20.1% of monthly payments volume are done digitally by end 2020, slightly above the BSP’s 20% goal for that […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is finalizing a set of prudential requirements applicable to digital banks to make sure the operations of the players in the new banking classification are underpinned by sound digital governance as well as a robust, secure and resilient technology infrastructure, and effective data management strategy and […]
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