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Near-target 2023 GDP growth acceptable amidst economic challenges – Neda chief
INQUIRER/ MARIANNE BERMUDEZ MANILA, Philippines — The country’s chief socioeconomic planner, Secretary Arsenio Balisacan of the National Economic and Development Authority (Neda), said that a 2023 economic growth slightly lower than the previous year’s 7.6 percent but near the government’s 6 to 7 percent target range would be considered acceptable, given the challenges faced by the.....»»
Philippines likely missed 2023 growth target
While some economists believe the Philippine economy likely grew faster in the fourth quarter, the overall expansion in 2023 is still expected to fall short of the six to seven percent target penned by the government’s economic managers......»»
Vehicle sales exceed 2023 target
Vehicle sales surpassed the industry’s target last year, registering a 21.9 percent growth amid sustained consumer demand and improved supply conditions......»»
‘MGEN to achieve target ahead of 2030 schedule’
Meralco PowerGen Corp. (MGen), the power generation arm of power distributor Manila Electric Co., expects to achieve its 1,500-megawatt (MW) renewable energy target ahead of 2030 schedule......»»
Clark airport exceeds 2023 passenger target
Clark International Airport, the alternative gateway to Metro Manila, breached its passenger target in 2023 amid the recovery of global air travel......»»
RBI says India s banking sector is sound and resilient, Gross NPA is below 3 pc
Mumbai (Maharashtra) [India], June 7 (ANI): India's banking system is robust and the gross NPA (Non-Performing Assets) of the schedule commercial banks and NBFCs are below 3 per cent highlighted RBI (Reserve Bank of India) Governor Shaktikanta Das during the Monetary policy announcement on Friday. RBI highlighted several key factors contributing to this positive trend, including enhanced provisioning for bad loans, sustai.....»»
RBI says India s banking sector is sound and resilient, Gross NPA is below 3 pc
Mumbai (Maharashtra) [India], June 7 (ANI): India's banking system is robust and the gross NPA (Non-Performing Assets) of the schedule commercial banks and NBFCs are below 3 per cent highlighted RBI (Reserve Bank of India) Governor Shaktikanta Das during the Monetary policy announcement on Friday. RBI highlighted several key factors contributing to this positive trend, including enhanced provisioning for bad loans, sustai.....»»
Bank lending expands 9.6 percent in April
Credit growth accelerated further to 9.6 percent in April from 9.4 percent in March as Philippine banks disbursed more production and consumer loans, according to the Bangko Sentral ng Pilipinas (BSP)......»»
Bank lending grew by 9.6% in April 2024 — BSP
Preliminary data released by the central bank on Friday showed that outstanding loans of universal and commercial banks, net of reverse repurchase placements with the BSP, expanded by 9.6% year-on-year in April, up from 9.4% in March......»»
Insolvency and Bankruptcy Code helped banks to recover from NPA: Nirmala Sitharaman
New Delhi [India], May 30 (ANI): The Insolvency and Bankruptcy Code (IBC), introduced by the PM Modi-led government, is a landmark reform that introduced a legal unified framework for resolving issues of financially-stressed companies, said Finance Minister Nirmala Sitharaman. Sitharaman, in a post on social media platform X, added that the code has played an important role in resolving insolvencies. "The code has brought.....»»
Alternergy unit secures P8 billion for wind energy project
Renewable energy firm Alternergy Holdings Corp. borrowed P8 billion from two banks to finance the construction of a 112 megawatt wind power project in Rizal province......»»
No opening parade in Paris
POC president Mayor Bambol Tolentino has disclosed that the coming Olympic opening ceremony will be a historic first since Paris hosted the Games 100 years ago. It won’t be a parade at a stadium. Instead, it will be a flotilla of boats, each carrying 100 delegates, streaming down the River Seine with 300,000 spectators lining the banks......»»
Agriculture loans surge to P3.2 trillion
Loans extended by banks to the agriculture sector significantly rose to P3.2 trillion as of June 2023 from the P848 million agri-agra credit allocated in the same period in 2022, the Bangko Sentral ng Pilipinas said......»»
Banks ease exposure in real estate in 2023
The exposure of Philippine banks and trust entities to the volatile property segment eased slightly to 20.17 percent of total loans in end-December 2023 from 20.55 percent in end-September last year, data from the Bangko Sentral ng Pilipinas showed......»»
Saso banks P1.3 million
Fil-Japanese Yuka Saso finished joint 29th in the LPGA Founders Cup while Pinay aces Dottie Ardina and Clariss Guce shared 13th in the Epson Tour’s Carlisle Arizona Women’s Golf Classic in separate locations Sunday......»»
Banks reap P92 billion profit in 3 months
Philippine banks turned more profitable in the first quarter, reaping almost three percent higher earnings to P92 billion due to higher net interest income. .....»»
A century of Philippine accountancy
In my long life as a professional writer – aside from being a fictionist, journalist and academic – I’ve occasionally been asked to write books for both private and public institutions and individuals, usually to commemorate an important milestone. My clients have included banks, power and energy companies, accounting firms, NGOs, business tycoons, politicians and thinkers......»»
Banks to ramp up lending to agriculture sector
Banks are looking to increase lending to the agriculture sector this year amid better economic conditions, higher demand for agricultural loans and consolidation of government programs that would boost banks’ agricultural loan portfolio......»»
Non-banks’ domestic claims up by 15 percent in Q4
The domestic claims of non-bank financial institutions increased by 15 percent to P9.05 trillion in the fourth quarter of 2023 from P7.87 trillion in the same quarter in 2022, based on a survey of the Bangko Sentral ng Pilipinas (BSP)......»»
BSP tightens rules on reporting threats
The Bangko Sentral ng Pilipinas (BSP) is now requiring banks and financial institutions to report any significant incident related to money laundering, terrorism and proliferation financing within 24 hours......»»