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Filinvest Land bonds earn top credit score, stable outlook from PhilRatings
The proposed bond issuance of full-range developer Filinvest Land Inc. (FLI) has been assigned the highest issue credit ratings and stable outlooks by the Philippine Rating Services Corporation (PhilRatings). FLI’s proposed bonds, amounting to P10 billion with a P2 billion oversubscription option, were assigned an issue credit rating of PRS Aaa. The same PRS Aaa rating was also assigned to FLI’s outstanding bonds, totaling P35.4 billion. Proceeds from these bonds will be used for capital expenditures and debt refinancing. "We are delighted to receive a PRS Aaa rating from PhilRatings for our proposed bond issuance. This rating reflects our healthy fundamentals and underscores our constant focus on growth and financial sustainability. We are grateful for PhilRatings’ trust and confidence in Filinvest Land and aim to continue building the Filipino dream through our various property developments,” said Tristan Las Marias, FLI president and chief executive officer. Obligations rated PRS Aaa (the highest rating assigned by PhilRatings) are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment to the obligation is extremely strong. Each of the ratings was also assigned an Outlook of Stable. An Outlook is an indication as to the possible direction of any rating change within a one-year period and serves as a further refinement to the assigned credit rating for the guidance of investors, regulators, and the general public. A "stable outlook" means the rating will likely be unchanged in the next 12 months. According to PhilRatings, the assigned credit ratings "take into account the following key considerations: (1) FLI’s established brand name and track record, with geographically diverse real estate products and substantial land bank for future expansion; (2) its sound growth strategies; (3) its improved revenues and operating cash flow, supported by more than satisfactory liquidity and interest coverage,” among other factors. For 2023, FLI will launch condominium and housing developments in Antipolo City, Taytay, Angono, Calamba City, Tanauan City, Trece Martires City, Bacoor City, Dumaguete City, and the Island Garden City of Samal. FLI will also accelerate the development of its township projects in East Town in Cainta, Rizal; Timberland Heights in San Mateo, Rizal; Ciudad de Calamba in Calamba City, Laguna, The Wood Estates in Trece Martires City, Cavite, and Palm Estates in Bacolod City, Negros Occidental. These FLI townships will include residential, commercial, transportation, and school components to create a self-sufficient environment that considers the needs of residents and customers in mind. For malls, FLI is currently constructing Marina Town in Dumaguete City which will open by end-2023, and new malls in Filinvest Mimosa+ Leisure City and Activa Cubao which will open by end-2024. These will expand FLI’s retail portfolio by about 55,000 square meters in gross leasable area (GLA), bringing FLI’s nationwide retail GLA to 300,000 square meters. FLI is also present in the industrial park and ready-built factory leasing businesses with its Filinvest Innovation Parks in New Clark City, Tarlac, and Calamba City, Laguna. Last 19 August, FLI broke ground on the 25-hectare Filinvest Innovation Park Ciudad de Calamba, an expansion of the 50-hectare Filinvest Technology Park in Ciudad de Calamba. FIP-CDC is envisioned to become a stage for new and relevant products that will catalyze progress in the local community. The post Filinvest Land bonds earn top credit score, stable outlook from PhilRatings appeared first on Daily Tribune......»»
UAE agri, energy, banking deals eyed
The Department of Finance, or DoF, on Wednesday said United Arab Emirates or UAE-based firms are keen on exploring investments in a range of industries in the Philippines, including food, water management, renewable energy, and Islamic banking. DoF said the economic team talked to executives of Brevan Howard, a technology-driven investment management platform; Arqaam Capital, a financial firm for emerging markets; and Investment Corporation of Dubai, the Dubai Government’s principal investment arm for the possible foreign investments. “The companies expressed interest in the Philippines’ renewable energy projects, port operations, water and wastewater management, waste-to-energy projects, upcoming Sukuk bond issuances, Islamic banking, and the Maharlika Investment Fund,” DoF said in a statement to the media. Middle East roadshow Investment and trade discussions surfaced during the Philippine economic team’s investor briefing in the UAE, a seven-state federation, from 11 to 12 September. The finance department said the possible foreign investments affirm the need for the Comprehensive Economic Partnership Agreement or CEPA with the UAE aimed at easing and expanding trade between the two countries. DoF said the UAE Government and the Philippines have already signed an agreement for investment protection and collaboration as part of the ongoing negotiations over CEPA. It added the UAE will soon submit to the Philippines its template for the final document on CEPA. President Ferdinand Marcos Jr. said he aims to adopt foreign water technologies, such as hydroelectric power plants, irrigation canals, and diversion dams to store and distribute more water for households, commercial establishments, and farm irrigation amid the threats of climate change. Food exports to Dubai usually include pineapples, bananas, and fresh and processed fish amounting to over $30 million. For renewable energy, the Department of Energy aims to generate power capacity of at least 20,000 megawatts through a mix of sources, such as the sun, wind and geothermal. Meanwhile, National Treasurer Rosalia de Leon said the Philippines is entering the Islamic debt market by issuing Sukuk bonds, or Islamic bonds, in the fourth quarter this year or early next year to raise $1 billion. “Sukuk bonds will diversify the Philippines’ sources of financing, widen its investor base to reach the untapped Islamic finance market, and boost investments in physical and digital connectivity,” she said. The Islamic bonds offer investors a share of profits from projects financed by the debt instrument instead of interest payments from traditional bonds. The government aims to raise $5 billion from commercial borrowing and already acquired $3 billion in January. The post UAE agri, energy, banking deals eyed appeared first on Daily Tribune......»»
Gov’t debt servicing higher this year
Debt payments by the national government increased year-on-year in the first half of the year due to higher amortization, data from the Bureau of the Treasury (BTr) showed on Monday. The national government's debt servicing reached P907.92 billion for the January to June period this year, up from the P458.35 billion paid out in the same term last year. Principal and interest payments are referred to as debt servicing. The debt service burden does not include actual outlays like refinancing, rescheduling existing debt or turning debt into equity. Payment of principal increased to P625.47 billion from P201.14 billion in the first six months of last year. During the year's first half, principal payments consist of domestic payments amounting to P561.42 billion and offshore debt payments worth P64.05 billion. On the other hand, interest payments rose to P282.46 billion in January to June this year from P257.21 billion in 2022. Domestic interest payments reached P192.89 billion during the first half of the year, down from P205.69 billion during the same period last year. It consisted of P74.73 billion in retail Treasury bonds, P108.37 billion in fixed-rate Treasury bonds, and P6.71 billion in Treasury bills. Meanwhile, interest on foreign debt increased to P89.57 billion during the first half from P51.23 billion a year ago. *June Financing Up* In June alone, debt payments amounted to P88.4 billion, up from P44.28 billion a year ago, due to higher interest payments. Of that amount, interest and principal payments reached P52.89 billion and P35.52 billion, respectively. Rizal Commercial Banking Corp. chief economist Michael Ricafort said the rise in debt servicing during the year's first half could be attributed to higher borrowing costs amid higher interest rates locally and globally to tame inflation. "Weaker peso exchange rate since last year also increased the peso equivalent of the country's foreign debt and the debt servicing that comes along," Ricafort told DAILY TRIBUNE in a Viber message. He added that the further opening of the economy may have also increased some government spending, especially on infrastructure, thereby leading to the continued budget deficit and more gross borrowings to finance the deficit. "(This factor), in turn, led to new record high outstanding national government debt levels in recent months," Ricafort said. For context, BTr said the National Government's (NG) total outstanding debt stood at P14.15 trillion as of June 2023. Ricafort also said there is a need for government agencies to increase the utilization of government funds in view of the interest rates and other debt-servicing costs involved. The post Gov’t debt servicing higher this year appeared first on Daily Tribune......»»
BSP posts deficit of $53M
The country's balance of payments (BoP) posted a narrower deficit in July as the government due to proceeds of the national government's foreign currency-denominated debt from commercial sources, the Bangko Sentral ng Pilipinas (BSP) reported. Data from BSP showed that the country's BOP position hit a deficit of $53 million in July, from a deficit of $1.8 billion a year ago. "The BOP deficit in July 2023 reflected net outflows arising mainly from the National Government's (NG) payments of its foreign currency debt obligations," BSP wrote in its accompanying statement. The central bank added that the cumulative BOP level for January to July was a $2.2 billion surplus, a reversal from the $4.9 billion deficit recorded in the same period a year ago. BSP said the reversal mainly reflected the improvement in the balance of trade and the sustained inflows from personal remittances, net foreign borrowings by the NG, trade in services, and foreign direct investments. Meanwhile, the gross international reserves (GIR) level increased to $100.0 billion as of end-July 2023 from $99.4 billion as of end-June 2023. "The latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.4 months’ worth of imports of goods and payments of services and primary income," BSP said. "Moreover, it is also about 5.9 times the country’s short-term external debt based on original maturity and 4.1 times based on residual maturity," it added. In an emailed commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the country's BOP data could still be supported by the country's structural US dollar inflows, such as foreign direct investments and overseas Filipino remittances. He added that the higher GIR in July 2023 could still support the country's "relatively stronger external position," which fundamentally supports the country's relatively favorable credit ratings. For context, the country's sovereign bonds received a "Baa2" rating from Moody's Investors Service, "BBB+" from S&P Global Ratings, and "BBB" from Fitch Ratings. The three debt watchers gave the Philippines a "stable outlook," indicating that there won't be any changes to the rating in the next 12 to 18 months. The post BSP posts deficit of $53M appeared first on Daily Tribune......»»
D& L expects capacity, income boost via Batangas plant
With its Batangas plant up and running since July, listed chemicals manufacturer D&L Industries, Inc. expects to double its existing manufacturing capacity in the coming years — a move that will also perk up the company’s financial backbone. “The plant that we have built is not just another plant. Specced to the highest standards and equipped with new capabilities, our Batangas plant will elevate the company to operate on a whole new level,” D&L President and CEO Alvin Lao said at a press briefing on Wednesday. D&L’s Batangas plant sits on a 26-ha property in First Industrial Township - Special Economic Zone in Batangas. It will mainly cater to D&L’s growing export businesses in the food and oleochemicals segments. The facility will also add the capability to manufacture downstream packaging; thus, allowing the company to capture a bigger part of the production chain. While the company primarily sells raw materials to customers in bulk, the new plants will allow it to “pack at the source.” This means that D&L can efficiently process the raw materials and package them closer to finished consumer-facing products. Relatedly, it will enable D&L to move a step closer to its customers by providing customized solutions and simplifying its supply chain, which is of high importance given ongoing logistical challenges. However, Lao pointed out that the high volume of orders from prior periods coupled with the lingering effects of high inflation and generally cautious consumer sentiment slightly took a toll on the company’s profits. During the first half of the year, D&L’s earnings annually declined by 28 percent to P1.24 billion. Notably, in the second quarter, there was a subtle but continued sequential recovery with quarterly earnings growth of 9 percent to P646 million. Additionally, Lao noted that incremental expenses were booked in the first semester because of the new plant in Batangas. Excluding the Batangas-related expenses, first-half income would have fallen by just 13 percent yearly to P1.5 billion. “Similar to what we have seen with the various plants that we have built over the past 60 years, the commercial operations of a new plant will mean incremental expenses that may affect near-term income,” Lao pointed out. As the company moves past peak capex with the completion of its Batangas plant, coupled with the normalization of commodity prices, the company’s free cash flows, or FCF turned positive for the first time in two years. From January to June, the company’s FCF stood at positive P2 billion vs negative P1.7 billion and negative P3.4 billion booked in 2022 and 2021, respectively. With improving FCF, falling debt levels, and continued business optimism, D&L conveyed having “the highest confidence in its ability to service bonds maturing in 2024 and 2026.” The post D&L expects capacity, income boost via Batangas plant appeared first on Daily Tribune......»»
New record high: Phl debt at P14.15T in June
The Philippine national government's debt stock reached another record high of P14.15 trillion in June as new domestic borrowings exceeded payments made, the Bureau of Treasury said on Tuesday. Data from the state treasury bureau showed that the country's debt portfolio increased by P51.31 billion or 0.4 percent compared to the previous month, primarily due to the net issuance of domestic securities. Of the total debt stock, 31.4 percent was sourced externally, while 68.6 percent were domestic borrowings. The BTr said the country's domestic debt reached P9.70 trillion, P114.32 billion or 1.2 percent higher than the end-May 2023 level. For the month, domestic debt growth amounted to P114.32 billion due to the net issuance of government bonds driven by the NG's financing requirements. Year-to-date, domestic debt has an increment of P494.44 billion or 5.4 percent The national government's external debt amounted to P4.45 trillion, P63.01 billion or 1.4 percent lower than the previous month. "The reduction in foreign debt was driven by the impact of currency adjustments affecting both USD (US Dollar)- and third-currency equivalents leading to a decrease in the peso value of the debt, amounting to P69.98 billion and P8.28 billion, respectively," the BTr said, adding that these offsets the availing of foreign loans worth P15.25 billion. NG's external debt likewise increased by P234.55 billion or 5.6 percent from the end-December 2022 level. Total NG guaranteed obligations decreased by P9.98 billion or 2.6 percent month-on-month to P369.73 billion as of June 2023. For the month, the decline in guaranteed debt was attributed to the net repayment of both domestic and external guarantees amounting to P4.36 billion and P0.89 billion, respectively. "This was further trimmed because of the effect of currency adjustments on both USD- and third- currency-denominated guarantees amounting to P2.78 billion and P1.95 billion, respectively," BTr said. From the end-December 2022 level, NG guaranteed debt has decreased by P29.32 billion or 7.3 percent. In an emailed commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the latest net borrowings of the national government may reflect the need to finance the still relatively wider budget deficits in recent months partly due to the lower individual tax rates for most income brackets since the start of 2023. "New official development assistance and other multilateral funding, especially for the country's various infrastructure projects, would also add to the country's outstanding national government debt in the coming months," Ricafort said. China Banking Corp. chief economist Domini Velasquez echoed Ricafort's comment in another Viber message, saying that the government had to incur debt in a high-interest rate environment in the first six months of the year to finance government projects and programs and augment budget deficits. "On a positive note, we think market interest rates are already on a downtrend as domestic inflation moves down and major central banks near the end of their tightening cycles. This will help dampen debt growth," Velasquez said. The post New record high: Phl debt at P14.15T in June appeared first on Daily Tribune......»»
T-bonds auction oversubscribed,hits P55B
The Bureau of the Treasury on Wednesday partially awarded bids for the new seven-year Treasury bonds or T-bonds. The coupon rate was set at 6.375 percent. The auction was 1.8 times oversubscribed as the total submitted bids amounted to P55.1 billion. The BTr raised P24.8 billion out of the P30-billion offering. In a comment, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the average auction yield was higher than the comparable 7-year PHP Bloomberg Valuation Service or BVAL yield at 6.28 percent. Rate traced “This is still higher compared to 6.097 percent in the previous 7-year Treasury bond auction on 20 June 2023 as the PHP BVAL yields corrected higher since June 2023 due to higher US Treasury yields since then,” he said. Ricafort traced the rate results to the hawkish signals locally in terms of possible local policy rate hikes to better manage inflation. Headline inflation settled at 5.4 percent in June, still above the government’s 2 percent to 4 percent target. “(This) is also after hawkish local signals recently, particularly on no possible premature local policy rate cut and even a possible local policy rate hike amid market expectations of a possible +0.25 Fed rate hike on July 26, 2023, but reduced odds of a second Fed rate hike after July 26, 2023,” Ricafort said. The Bangko Sentral ng Pilipinas maintained key rates in the last two consecutive rate-setting meetings. The Monetary Board is scheduled to hold its next rate setting meeting on 17 Aug. The post T-bonds auction oversubscribed,hits P55B appeared first on Daily Tribune......»»
Foodpanda enhances tools for partner merchants
Foodpanda is providing its vendors with a supply of QR Codes tagged to their own Tabsquare accounts and allows restaurant owners to review transactions via the food and beverage digital ordering system’s analytics. The online food and grocery delivery platform announced the enhanced tools for its merchants during the company’s recent partner vendors summit, themed “CRAVE: Creating Relationships and Advancing Vendor Experiences.” The grand event served to underscore Foodpanda’s commitment to forging strong bonds with its partners and celebrated the success and achievements of these businesses. In a statement, foodpanda Philippines commercial director Luis Antonio Yanga expressed enthusiasm about hosting the summit and connecting with their partner vendors. “At foodpanda, we believe in fostering meaningful relationships with our partners. We are eager to share the innovative initiatives and remarkable products we have for them so that together, we can drive progress and revolutionize the online food delivery industry,” he said. Yanga also said foodpanda wants to accommodate the diverse needs of every vendor as it adopts a hypercare approach to ensuring that programs and solutions are tailored to the needs of its partner merchants, including those who are part of their pandapick program. First introduced last year, the pandapick app allows users to discover dishes from brands available only on the platform. They also offer merchants access to elevated benefits only available to pandapick partners. “It is crucial to understand each vendor’s top growth objectives and pain points. From those criteria, we will start to customize the benefits most relevant to them including additional visibility on the app, marketing support, and tools to drive their growth,” according to Yanga. The enhanced QR Code scanning process for dine-in orders is a strategic response to a rising market demand, evidenced by the country’s QR Code transactions totaling P32.7 billion in the first quarter of 2023. Through Tabsquare, foodpanda partner vendors will be provided with a supply of QR Codes tagged to their own Tabsquare accounts. Partner vendors who attended the summit were provided with a firsthand end-to-end experience using TabSquare, showcasing its convenience, seamless operations and efficiency. The post Foodpanda enhances tools for partner merchants appeared first on Daily Tribune......»»
New door opens
The Maharlika Investment Fund bill after months of deliberation is as good as signed. The next step would be the crafting of the implementing rules and regulations or IRR where the nitty-gritty of the law will be addressed. The IRR will be prepared by economic managers. President Ferdinand “Bongbong” Marcos Jr. will then pick the people who will comprise the Maharlika Investment Corp. or MIC that the law mandates will manage the fund. The MIC will manage the sovereign wealth fund that will invest in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, commercial real estate, and infrastructure, based on the provisions of the law. The battleground for the MIF thus returns to the Executive branch as detractors now have the economic managers in their crosshairs as the IRR is being drafted. One of the prime movers of the MIF, Albay Rep. Joey Salceda, said the IRR will flesh out the specifics of the crucial fund build-up and the forming of the MIC, such as the company’s regulation by the Civil Service Commission, the listing of the MIF in the stock market, and allowing multilateral financing institutions like the World Bank and Asian Development Bank to be strategic partners of the MIF. “I congratulate House Speaker Ferdinand Martin Romualdez, Chairman Irwin Tieng, and our Senate counterparts. I will continue to offer what I can by way of prior experience and subject matter expertise in the drafting of the IRR,” Salceda said. Congress ratified the bill before adjourning its session last 31 May but the final copy had to be refined following intrigues hurled by unrelenting critics who deemed it unconstitutional primarily due to the differing prescriptive periods for filing charges related to irregularities. The discrepancies proved to be clerical errors and not a reason to veto the bill as the inconsolable minority had demanded. The MIF comes at a propitious period after the economy grew by 7.6 percent and 7.2 percent in the third and fourth quarters, respectively, and 6.4 percent in the first quarter of this year — numbers that show the country has among the fastest development clips in the world. Finance Secretary Benjamin Diokno expects the MIF to be in full operation before the end of the year. The P125-billion seed fund will be drawn from the Land Bank of the Philippines, the Development Bank of the Philippines, and the national government. The national government’s contribution will come from Bangko Sentral ng Pilipinas dividends, its share in the income of the Philippine Amusement and Gaming Corp., privatization proceeds, and royalties and special assessments. Being looked into is channeling Malampaya natural gas earnings to bolster the fund. The MIF will initially have at its disposal P75 billion by the end of the year, which will come from Landbank and DBP and may forthwith be invested in several ventures or the capital markets. Fund managers estimate a return of over 10 percent just for the initial P75-billion investment. Economic managers envision the MIF as creating a new source of financing for the government which now mainly relies on tax revenues and borrowings to plug the fiscal gap. The MIF will free up the government’s fiscal space as the burden of borrowing is reduced with the sovereign wealth fund augmenting the government’s resources. Another MIF function will be to accelerate investments in development projects such as infrastructure through tie-ups with capitalists and other sovereign funds. The perennial budget deficits, which are the culprit in the debt pile-up, may soon be a thing of the past when the MIF goes full throttle. The post New door opens appeared first on Daily Tribune......»»
Security Bank puts up peso bond sale
The bonds will be issued from Security Bank’s P100 billion Peso Bond and Commercial Papers Program......»»
Left holding the bag
“A leap of faith into the great unknown.” That’s how a worried Senator Francis Escudero described the venture that two state-owned banks would be legislated into making with the passage of the Maharlika Investment Fund law. That’s the same leap that the Government Service Insurance System and Social Security System were asked to make when the MIF idea was first floated last year, only for the state insurers to be dropped from the kitty pool amid the uproar and backlash. By their very nature, banks loan money and invest, but they have always had the option of where to put in their moolah. However, in the case of the Land Bank of the Philippines and the Development Bank of the Philippines, as captive investors, they’re in for the MIF ride, whether the road is bumpy or not. And that’s what troubles Escudero as he said that “as presently worded” in the Senate’s MIF bill, he could not see provisions detailing the bare minimum that the two banks’ investments — initially P50 billion for LandBank and P25 billion for DBP — would make. Senate hearings have established that the two government banks earn between six to eight percent of loaned or invested money, thus Escudero reasoned out that it may be financially sound to put at seven percent the threshold (or minimum) return on equity of LandBank and DBP. The senator warned that the banks cannot be allowed to go “bankrupt” because of the unsettled RoE and, if I may add, because of a failed venture which, in business, is almost always a possibility as turning in profits. Reading between the lines, the concern may be of the MIF making money but with the two banks being left holding the bag, left out of the profit-sharing due to a rushed MIF law that did not put in black and white a matter as simple as pegging the RoE. Naysayers have warned that the MIF may just end up as one huge corruption enterprise as the corporation tasked to manage the fund invests in a mixed bag of instruments like local and foreign bonds, equities, and foreign currencies. Here is where Congress should ensure that the MIF law would have enough safeguards not only for the two banks but also for the other players, including the government that will be infusing taxpayers’ money and state earnings. If the MIF is to succeed in promoting economic growth and development in the Philippines, the operations of the Maharlika Investment Corporation must be fully transparent. At the same time, whatever financial exposure that LandBank and DBP would have in the MIF should be of such amounts that losing them in a soured investment vehicle would not endanger the fulfillment of their core mandate. LandBank and DBP are primarily tasked to ensure loans are available for farmers and small and medium enterprises which, as admitted by an analyst of a commercial bank, are underserved by private banks and lenders because they are not as profitable. With this concern, there should be a ceiling as to what portion of their financial muscles can LandBank and DBP be allowed to put into the MIF. Again, this is left to the sound judgment of legislators who, with the law they would pass, would tie the hands of both LandBank and DBP. Let’s just hope that the lunacy and vested interests that marked the passage of laws now breaking the backs of Filipinos, like the Oil Deregulation Law, would be absent in the crafting of the MIF. Here, this Contrarian may be too overly optimistic. The post Left holding the bag appeared first on Daily Tribune......»»
RCBC eyes P5 billion from bond issue
Yuchengco-led Rizal Commercial Banking Corp. is raising at least P5 billion as it returns to the domestic debt market via the issuance of sustainability, green or plain format fixed-rate bonds......»»
RCBC eyes P3 billion from issuance of ASEAN sustainability bonds
Rizal Commercial Banking Corp. is eyeing to raise at least P3 billion from the issuance of ASEAN sustainability peso bonds......»»
AgriNurture to issue P4.2 billion green bonds
AgriNurture Inc., the listed agro-commercial company of businessman Antonio Tiu, is looking to issue green bonds of up to 75 million euros (P4.2 billion) with maturity of up to seven years......»»
Investors swamp RCBC bond offer
Yuchengco-led Rizal Commercial Banking Corp. raised P16.6 billion as investors gobbled up its peso bonds as it returned to the onshore debt market to raise funds to support asset growth and general purposes, as well as refinance maturing liabilities......»»
RCBC eyes P3 billion from peso bonds
Yuchengco-led Rizal Commercial Banking Corp. is raising at least P3 billion as it returns to the domestic debt market through the issuance of peso bonds to support asset growth, refinance maturing liabilities and for other general funding purposes......»»
Marcos Jr. eyes stronger maritime ties with India
The Philippines is seeking stronger maritime security cooperation with India to ensure the safety of seafarers from both nations as the world’s oceans are becoming more dangerous for commercial shipping, President Marcos said......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»
PBCom eyes P2 billion from new bond issue
The Philippine Bank of Communications is looking to raise at least P2 billion, with an option to oversubscribe, from the first tranche of its new peso bond program......»»
Government fully awards P30 billion T-bonds at higher rates
The government secured P30 billion in long-term securities yesterday but at slightly higher rates after inflation picked up and ended four months of easing......»»