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Another loan worth $300 million has been extended by the Asian Development Bank (ADB) to the Philippines, its host-country, this time to make financial services more accessible to Filipinos. In a statement on Friday, the ADB said…
MANILA, Philippines — The country’s rural and cooperative banks remain stable and are in a strong position to support the financing needs of micro, small, and medium enterprises as well as large firms in rural communities affected…
The sharp contraction of the economy in the second quarter of the year—the largest decline in the country’s history—is different from previous crises because the country is on better footing now, the head of the central bank…
MANILA, Philippines – Dollars sent home by expatriate Filipinos declined once more in April, marking the second consecutive period that the impact of the coronavirus pandemic was manifested in monthly remittances — a key pillar of the…
The Philippines can end up a major winner in the postpandemic environment if public and private sector policymakers can undertake a unified effort to attract firms that are moving production facilities out of China as a result…
The Bangko Sentral ng Pilipinas (BSP) on Thursday reminded lending institutions that they are prohibited from charging interest on interest, fees and charges—such as late payment fees—on all loan payments falling due within the ongoing quarantine period.…
No country in the world, both rich and poor, is immune from the onslaught that comes with the recent coronavirus outbreak that began in Wuhan, China, in December 2019. Known as SARS-Cov-2, the virus has already…
The Philippine economy returned to red in terms of the amount of dollars it spent in the first month of this year outpacing the amount it earned in its transactions with the rest of the world, according…
CEBU CITY—The outlook for the Philippine economy remains optimistic, said Joselito Bautista, acting Deputy director of the Department of Economic Research of the Bangko Sentral ng Pilipinas (BSP). “The Philippines economy is expected to remain one of…
CEBU CITY, Philippines—Cebu City Councilor Alvin Dizon urged banks to consult the public and be transparent on their plans to increase fees on cash withdrawals using automated teller machines (ATM). The increase may be imposed after the…
CEBU CITY, Philippines—Banks will no longer accept mutilated bills with staple wires or adhesives like cellophane tapes, Bangko Sentral ng Pilipinas Regional Director Leonides Sumbi said in a press conference on Wednesday, May 8. Sumbi issued the…
DESPITE the onset of the holiday season, the confidence of Philippine businesses and local consumers are at their lowest levels in almost eight years — with the bearish sentiment expected to persist into early 2019 — no…
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