Foreign direct investments reach 5-month high of $850M in July

Ian Nicolas P. Cigaral - @inquirerdotnet 10/11/2024

Multinational firms’ lending to their Philippine subsidiaries drove foreign direct investments (FDIs) to a five-month high in July, reaching halfway through the Bangko Sentral ng Pilipinas’ (BSP) 2024 projection. According to the BSP’s report, July saw a…

PH banks fail to meet MSME loan mandate anew

Ian Nicolas P. Cigaral - @inquirerdotnet 09/30/2024

Rural and cooperative banks continue to lead in providing loans to micro, small, and medium enterprises (MSMEs), as the Philippine banking industry once again fell short of its lending quota for this key sector. According to the…

World Bank sees PH economy growing 6% this year

Ian Nicolas P. Cigaral - @inquirerdotnet 09/13/2024

The World Bank (WB) warned that despite expected interest rate cuts, the Philippine economy may still miss the Marcos administration’s growth target next year due to a slowing global economy. WB lead economist for Brunei, Malaysia, the…

Peso surges to 6-month high at 55.9 as dollar weakens

Ian Nicolas P. Cigaral - @inquirerdotnet 09/07/2024

File photo The Philippine peso bounced back to the 55-level against the weaker US dollar on Friday, marking its strongest close in nearly six months. This comes as new data supported the early easing by the Bangko…

Moody’s: Infrastructure push to bolster PH economic growth

Ian Nicolas P. Cigaral - @inquirerdotnet 08/26/2024

Moody’s Analytics said the government’s strong push to upgrade the Philippines’ infrastructure will help the economy maintain high growth, despite some uneven progress over the past year. The agency kept its GDP growth forecast for the Philippines…

GSIS to provide loans for El Niño, rabies victims in 13 areas

Ian Nicolas P. Cigaral - @inquirerdotnet 05/15/2024

MANILA — Members and pensioners in 13 areas nationwide that are affected by the El Niño weather phenomenon and rabies, which is a common health concern during the dry season, can avail of the emergency loan program…

Philippine economy expands 5.7% in Q1

Ian Nicolas P. Cigaral - @inquirerdotnet 05/09/2024

MANILA — The Philippine economy expanded by 5.7 percent in the first quarter of the year, up from 5.5 percent in the previous quarter, according to the Philippine Statistics Authority (PSA). However, this growth was below the government’s…

Checks in old format: This will be the last day banks will accept them

Ian Nicolas P. Cigaral - @inquirerdotnet 04/30/2024

MANILA, Philippines — Old checks will no longer be accepted for clearing starting tomorrow with the banking public being reminded that they have only until today, April 30, to use these old checks. Starting May 1, only…

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