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BPI sells shares in GoTyme Bank
The Bank of the Philippine Islands sold its 752 million common shares of GoTyme Bank Corp. to GoTyme Financial Pte. Ltd. and Giga Investment Holdings Pte. Ltd, the bank said yesterday......»»
Suntrust secures $38 million loan for Parañaque casino project
Suntrust Resort Holdings Inc. has secured a $38-million loan to fund the development of its casino project in Parañaque City......»»
Marcos OKs 10-year roadmap to improve maritime industry
The 10-year Maritime Industry Development Plan 2028, outlined in Executive Order 55, which Marcos signed on February 8, aims to create a “strong and reliable” Philippine Merchant Fleet that will meet the country’s sea transport requirements and goals for national development......»»
DBP lends P116 million for swine farm expansion
State-owned Development Bank of the Philippines said it extended a P116-million loan for the expansion of a swine farm project in Nueva Ecija to boost the government’s hog repopulation efforts......»»
World Bank expects faster growth for Philippines this year
Economic growth in the Philippines is projected to be faster this year than in 2023, but the pace will be lower than the government’s target, the World Bank said in a report......»»
World Bank urges Philippines to address funding, infrastructure challenges
The Philippines need to address challenges in terms of funding, lack of digital infrastructure and technical competencies as local government units are looking to develop smart cities, the World Bank said......»»
State firms get higher subsidies
The government ramped up its budgetary support to state-run firms by 35 percent to almost P13 billion in February, with the bulk of the subsidies intended to fund irrigation projects......»»
‘Imee budget realigning led to millions not receiving 4Ps’
Nearly 4.3 million poor Filipinos were deprived of cash aid under the government’s Pantawid Pamilyang Pilipino Program in 2023 after Sen. Imee Marcos realigned the 4Ps funding of P13 billion in the national budget to another social amelioration program, a member of the House of Representatives said yesterday......»»
ADB appoints Mio Oka as country director for India, pledges continued support for development
New Delhi [India], February 6 (ANI): The Asian Development Bank (ADB) has appointed Mio Oka as its new Country Director for India, succeeding Takeo Konishi, who has been elevated to the position of ADB Director General for South Asia at the Manila headquarters. According to ADB, in her new role, Oka will spearhead ADB's operations in India, forging partnerships with the government and other development stakeholders. She w.....»»
World Bank downgrades Philippine GDP projections for 2024 and 2025
The World Bank downgraded its GDP projections for the Philippines in 2024 and 2025 due to “various headwinds facing private investment”, like the effects of higher interest rates and “rising indebtedness.”.....»»
PEZA OKs P2.21 billion investments
The Philippine Economic Zone Authority has approved P2.21 billion worth of investments during its first board meeting last week......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
Japan boxer, former three-division world champion, trains in Cebu
CEBU CITY, Philippines — Former three-division world champion Kosei Tanaka returned to Cebu for some top-notch boxing training. The 28-year-old Japanese is the former World Boxing Organization (WBO) world minimum, world flyweight, and former world light flyweight champion. He will spend three weeks in Cebu at the ZIP Sanman Boxing gym in Banawa, Barangay Guadalupe. .....»»
PhlPost partners with USAID on e-commerce initiatives
Recognizing the potential of the Philippine Postal Corp. (PhlPost) as an important partner in expanding e-commerce, even in rural areas, the United States Agency for International Development Philippines is extending its technical assistance through its Strengthening Private Enterprises for the Digital Economy Activity. The initiative aims to help PhlPost develop its digitalization roadmap as part of its modernization program. .....»»
IFC investing $500 million to address Philippines development challenges
The private sector arm of the World Bank Group is aiming to invest up to $500 million in the current fiscal year in the Philippines to support efforts to address climate change, financial inclusion and infrastructure development......»»
Metrobank Makes Achieving Your Home Goals Easier With Its Free Appraisal Fee Promo!
This February, Metrobank is again making it easier for Filipinos to achieve their dream home as it brings back its free appraisal fee promo – giving clients up to PHP 5,500 in savings on their home loan. From February 1 to March 29, 2024, qualified clients who will submit a complete home loan application to […].....»»
Banks expect higher consumer, corporate loan demand in Q1
Despite the higher for longer interest rate scenario, Philippine banks still expect a stronger loan demand from companies and households in the first quarter of the year, according to the Bangko Sentral ng Pilipinas......»»
JBIC’s environmental compliance arm to investigate bank’s LNG activity in Verde Island Passage
The Examiner for Environmental Guidelines of the Japan Bank for International Cooperation (JBIC) is set to commence an investigation for potential violations by the bank in relation to its support to the Atlantic Gulf & Pacific Company (AG&P), which built a liquefied natural gas import terminal in the biodiversity hotspot known as the Verde Island […].....»»
J-K Bank Q3 net profit up 35 pc to Rs 421 cr, 9-month net jumps 57 pc
Srinagar (Jammu and Kashmir) [India], January 20 (ANI): Jammu and Kashmir bank net profit rose 35 per cent year-on-year (YoY) to Rs 421.08 crore for the October-December Quarter (Q3FY 2024) when compared to Rs 311.59 crore registered for the same period last fiscal, an official release said. According to the release, the bank announced the results today after its Board of Directors reviewed and approved the numbers for Q3.....»»
J-K Bank Q3 net profit up 35 pc to Rs 421 cr, 9-month net jumps 57 pc
Srinagar (Jammu and Kashmir) [India], January 20 (ANI): Jammu and Kashmir bank net profit rose 35 per cent year-on-year (YoY) to Rs 421.08 crore for the October-December Quarter (Q3FY 2024) when compared to Rs 311.59 crore registered for the same period last fiscal, an official release said. According to the release, the bank announced the results today after its Board of Directors reviewed and approved the numbers for Q3.....»»