BSP lowers balance of payments projections

The Bangko Sentral ng Pilipinas (BSP) lowered the country’s balance of payments (BoP) surplus projection for this year, reflecting the lower current account surplus and the risks arising from the spread of the more infectious coronavirus variant and delays in the vaccine rollout.  The Monetary Board on Thursday approved the revised BoP projections for 2021 and 2022.  The BoP is now projected […]

‘Anomaly’ flagged in supply deals

Senator Franklin M. Drilon cited several warning signs of potential anomaly, corruption or fraud in the procurement of several medical supplies by the Budget department.  “I am worried there are so many red flags in the procurement of several medical items,” the senator said in a statement on Friday. “These warning signs indicate possible anomaly, corruption or fraud.”  “Red […]

P9.1-B cash aid in Metro Manila released  

ABOUT 81% or P9.1 billion out of the P11.2-billion financial assistance for Metro Manila residents affected by the recent two-week strict lockdown has already been released as of Aug. 24, the Presidential Palace said on Thursday.   This means more than nine million beneficiaries have received cash assistance, Palace Spokesman Herminio L. Roque, Jr. told a televised news briefing.    He added that the national […]

PHL receives last tranche of P23-B standby loan from Japan

THE PHILIPPINES has received the fourth and last tranche worth ¥10 billion (P4.6 billion) from Japan’s standby loan facility for the government’s pandemic response, the Japan International Cooperation Agency (JICA) said on Friday.  JICA, the lending arm of the Japanese government, has now fully disbursed the ¥50-billion (P23 billion) post-disaster standby loan package it extended […]

Vulcan board approves corporate changes

VULCAN Industrial & Mining Corp. announced that its board of directors approved certain amendments to the company’s articles of incorporation.  Vulcan said in a regulatory filing on Thursday that its board, during a special meeting on Aug. 18, approved proposed amendments to the company’s first, third, sixth, and seventh articles of incorporation.  “[The] said amendments […]