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Power reserve market starts full commercial operations
The Independent Electricity Market Operator of the Philippines commenced yesterday the full commercial operations of the reserve market, a development seen as a significant step forward for the energy sector......»»
Shares gain anew on rate cut hopes
The stock market advanced for a second consecutive session yesterday, buoyed by indications that the vs Federal Reserve will make interest rate cuts later this year......»»
Stocks move in step with Asia-wide rally
Local stocks recovered yesterday, moving in step with Asian peers, ahead of US inflation data that could influence the Federal Reserve’s thinking on rate cuts, while the crypto world got a boost after exchange-traded funds to track Bitcoin were approved in the United States......»»
Household cuts rice consumption
Household cuts rice consumption.....»»
Faster inflation could delay interest rate cuts – BDO
Faster inflation could delay monetary policy rate cuts from the Bangko Sentral ng Pilipinas , according to an official from BDO Trusts and Investments, the investment arm of BDO Unibank Inc......»»
Market falls amid worries over rate cuts, China growth
Share prices ended in the red for a third session after another dour day across global markets, fuelled by a sense of resignation that the interest rate cuts long expected in March will not materialize due to stubbornly high inflation......»»
‘Higher interest rates are here to stay’
The Bangko Sentral ng Pilipinas is likely to hold on to higher rates for a little longer, moving in lockstep with the US Federal Reserve and the rest of the central banks globally......»»
NBA: Embiid on MVP requirement, says ‘If he misses out, so be it’
PHILADELPHIA — Ime Udoka in his one year as a 76ers assistant got close enough to Joel Embiid to earn an invitation to the MVP’s wedding to Anne de Paula last July. Udoka also saw up close in that one year that Embiid — already an All-Star and one of the best big men in.....»»
Think tank sees likelihood of BSP rate cuts starting Q2
The Bangko Sentral ng Pilipinas is expected to start cutting interest rates in the second quarter following the economic growth posted last year, according to UK-based think tank Pantheon Macroeconomics......»»
BSP seen to start rate cuts in August
The Bangko Sentral ng Pilipinas could start slashing interest rates in August this year until the first quarter of 2025 after keeping key rates elevated for a longer period of time, Nomura Global Markets Research said......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Banks’ bad loans rise in February
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan ratio to a steady 3.44 percent, amid high interest rates......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
Digital banks seen profitable in 5-7 years
Digital banks in the Philippines need five to seven years to become profitable, as only two out of six online lenders are doing well so far, according to the Bangko Sentral ng Pilipinas......»»
UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»