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Philippines hopes for windfall as basketball comes home in 2023

By Michael Angelo S. Murillo Senior Reporter MORE THAN 40 years since hosting the biggest hoops event in the world, basketball is coming home to the...

Metrobank, BPI plan stock rights offers

TWO OF THE COUNTRY’S biggest banks are looking to conduct stock rights offerings (SRO) to fund their core business expansion and other operations. Metropolitan Bank...

PSE acquires Tata Consulting’s shares in PDS Holdings Corp.

THE Philippine Stock Exchange (PSE) continues to increase its stake in the fixed equities bourse with the signing of a second share purchase agreement...

Yields on central bank’s term deposits drop on strong demand for...

By Melissa Luz T. Lopez, Senior Reporter SUSTAINED DEMAND for week-long term deposits drove yields even lower yesterday, although the central bank still opted to keep...

HSBC Private Banking sees strong markets despite high valuations

THE private banking arm of Hongkong and Shanghai Banking Corp. Ltd. (HSBC) expects the Philippine stock market to continue its rise this year, driven...

InstaPay platform rollout seen within next quarter

THE PUSH for electronic payments is expected to accelerate this year after industry players formalized arrangements with the Bangko Sentral ng Pilipinas (BSP), while...

Stocks decline anew, tracking global markets

By Arra B. Francia, Reporter LOCAL STOCKS dropped on Wednesday, tracking the generally negative close of international markets. The Philippine Stock Exchange index (PSEi) gave up...

Gov’t to launch promised Overseas Filipino Bank

THE Overseas Filipino Bank will be launched this afternoon in Manila — fulfilling President Rodrigo R. Duterte’s campaign promise. The Department of Finance (DoF) said...

Central bank looking out for tax reform’s wider impact on inflation

THE BANGKO SENTRAL ng Pilipinas (BSP) may raise interest rates should tax reform trigger price increases for all other consumer goods and services as...

Banks seen to meet leverage standards

By Melissa Luz T. Lopez, Senior Reporter PHILIPPINE BANKS are broadly expected to meet minimum leverage standards set by the Bangko Sentral ng Pilipinas (BSP), its...

Peso down on remittances

THE PESO slumped against the dollar on Tuesday as central bank data showed remittance growth slowed in November. The local currency closed the session at...

Change is in the air

By Kap Maceda Aguila THE impassioned, very personal declaration of Department of Transportation (DoTr) Secretary Arthur P. Tugade was but one of the highlights of...

Investigators probe cause of Jakarta mart walkway collapse

JAKARTA -- Indonesian investigators were sifting through the rubble at Jakarta’s stock exchange complex Tuesday as they looked for clues on what caused a...

How Hoppler is connecting brokers and property buyers

By Arra B. Francia, Reporter WHILE MOST BUSINESSES would use the Internet to minimize person-to-person interaction, online real estate services firm Hoppler aims to do...

Indian bonds slide as RBI says banks must manage rate risks

INDIAN SOVEREIGN BONDS and the rupee tumbled after a central bank official warned banks they can’t keep relying on the regulator to manage their...

ADB grant to help fund Mindanao Railway initial planning

THE GOVERNMENT is planning to tap a $5-million grant from the Asian Development Bank (ADB) to prepare the first phase of the Mindanao railway,...

BSP readies check on excessive lending

THE CENTRAL BANK will impose minimum leverage standards on big banks starting July, which will serve as another tool to prevent excessive debt exposures...

Remittance increase slows in November

By Melissa Luz T. Lopez Senior Reporter CASH REMITTANCES increased annually for a second straight month in November last year but at a slower pace, the...

Gov’t makes full award of Treasury bills

By Karl Angelo N. Vidal THE GOVERNMENT made a full award of the P20 billion it planned to raise through the auction of Treasury bills...

PSE acquires San Miguel’s stake in PDS for P80 million

By Arra B. Francia, Reporter THE Philippine Stock Exchange, Inc. (PSE) has increased its stake in the Philippine Dealing Systems Holdings Corp. (PDSHC), after buying...

CARD Bank launches mobile app

DAVAO CITY — A microfinance provider part of a huge group of companies that provides services to the poor is introducing its newly implemented...

AboitizPower takes P3.7-B hit with permanent closure of biomass plant

ABOITIZ POWER Corp. (AboitizPower) is taking a hit of P3.7 billion as it permanently stopped the operations of a biomass power plant because of...

Pressure mounting for monetary policy response to credit growth, imports —...

By Melissa Luz T. Lopez, Senior Reporter IMBALANCES in the Philippine economy could intensify further amid an expected rise in commodity prices and accelerated credit and...

Will the Jeepney vanish in 2018 (or 2021)?

By Rene S. Santiago THE obituary for the 65-year-old jeepney was publicly announced by President Rodrigo Duterte when he said in October 2017: “Jan. 1....

Scores injured as floor collapses at Indonesian stock exchange

JAKARTA -- A mezzanine floor overlooking the main lobby of the Indonesian Stock Exchange building collapsed on Monday, injuring scores of people, many of...

GOCC dividends surpass P30 billion in 2017, up 9.8%

DIVIDENDS received from state-run firms surpassed P30 billion in 2017, boosted by a major payment from the Civil Aviation Authority of the Philippines (CAAP). The...

Indonesia eyes foreign banks after MUFG-Danamon deal

BANKS from countries including China are looking to follow the example of Japan’s largest lender and buy stakes in Indonesian financial institutions, according to...

Metro Pacific inks P2-billion loan facility

METRO PACIFIC Investments Corp. (MPIC) secured an additional loan to reduce the debt of the company holding the infrastructure conglomerate’s stake in Manila Electric...

China to toughen rules on $38-trillion banking sector

CHINA’S banking regulator pledged to continue its crackdown on malpractice in the $38-trillion industry in 2018, vowing to tackle everything from poor corporate governance...

Overseas Filipinos’ cash remittances

CASH REMITTANCES increased annually for a second straight month in November last year but at a slower pace, the central bank reported yesterday, as...

TRAIN upon death

For individual taxpayers, the offshoot of the approval (and line item veto) of Republic Act No. 10963 or the Tax Reform for Acceleration and...

Philippines to form part of tracked banking data

THE PHILIPPINES will soon be part of global statistics on cross-border banking after it has been accepted as a reporting institution by the Bank...

No pressure for now to tweak policy — BSP

By Melissa Luz T. Lopez Senior Reporter DOMESTIC CONDITIONS affirm the central bank’s decision last month to keep interest rates steady despite rising global yields, with...

OFW remittance growth may have slowed in Nov.

By Melissa Luz T. Lopez, Senior Reporter REMITTANCES from overseas Filipino workers (OFWs) likely grew at a slower pace in November ahead of an expected...

SSS plans to increase PSE stake, eyes board seat

By Arra B. Francia, Reporter STATE-RUN Social Security System (SSS) is keen on getting a seat on the Philippine Stock Exchange’s (PSE) board of directors,...

Peso to move sideways

THE PESO will likely move sideways against the dollar this week amid the greenback’s sustained weakness on the back of mixed US economic data...

Wells Fargo sees no end yet to scandal costs, gets tax...

NEW YORK — Wells Fargo & Co. is not certain it has fully uncovered and fixed all problems related to a long-running sales scandal...

China to step up banking oversight in ‘arduous’ fight on financial...

CHINA will step up oversight in the banking sector this year to reduce financial risks, the country’s banking regulator said, stressing that long-term efforts...

Goldman, Morgan Stanley fined for foreclosure cases

THE FEDERAL RESERVE is closing the book on sanctions against US banks over improper handling of post-crisis mortgage foreclosures, fining firms including Goldman Sachs...

EU more dependent on Russian gas despite bid to diversify

DESPITE repeatedly vowing to reduce its energy dependency on Moscow, Europe is more reliant on Russian gas than ever before — and there are...

World economic federalism and nation-state federalism

There is no clear and commonly used definition, no settled common denominator of “federalism,” according to Dr. Anna Gamper (Associate Professor, University of Innsbruck)....

Yields end week mixed ahead of US CPI report

LOCAL DEBT YIELDS ended mixed last week as market players stayed on the sidelines in anticipation of leads from the release of US key...

WB approves $170M funding for PHL rural projects

THE World Bank has approved $170 million in additional funding for programs that seek to develop provinces Philippines by building more roads, bridges, and...

Investors flocking to equities amid continued strength

INVESTORS are shifting their attention to the equity market from the low-risk bond mart, as the bellwether index is seen breaching the 10,000 level...

Duterte to fire 70 cops, 3 generals

PRESIDENT Rodrigo R. Duterte announced on Thursday, Jan. 11, that around 70 policemen, three generals, and a chairman of a government agency will soon...