THE BANGKO SENTRAL ng Pilipinas (BSP) expects the country to post a wider balance of payments (BoP) deficit this year due to a weaker global growth outlook that could affect trade and capital flows. The central bank on Friday announced its revised BoP projections for 2022 and 2023 approved during the Monetary Board’s June 16 […]
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Philippines sees wider current account deficits as global risks build
The Philippine central bank said on Friday it expects the country’s current account (C/A) balance to register wider deficits in 2022 and 2023 than previously projected, taking into account the challenges facing the global economy. The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments (BoP) projections, with the current account deficit now […]
COVID-19-related insurance payouts reach P2.93 billion in the first quarter
INSURANCE CLAIMS related to coronavirus disease 2019 (COVID-19) paid out by the industry reached P2.93 billion in the first quarter, based on a study conducted by the Insurance Commission (IC) to assess the impact of the pandemic on the sector. Between January and March, the life insurance industry paid out P1.79 billion in claims that […]
Reissued 7-year bonds partially awarded on rate hike concerns
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors continued to asked for higher yields as the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve said they intend to raise rates anew to tame rising inflation. The Bureau of the Treasury (BTr) raised just P19.551 billion via […]
BTr partially awards T-bill offer as rates rise on tightening bets
THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday as investors wanted higher yields, with the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve expected to raise borrowing costs further this year due to rising inflation. The Bureau of the Treasury (BTr) raised just P14 billion via the T-bills it […]
Gov’t securities seen to climb on planned rate hike, inflation
RATES of government securities are expected to rise this week ahead of the central bank’s planned rate hike and the recent inflation data that prompted investors to seek higher returns. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday, broken down into P5 billion each in 91-, 182- […]
Gov’t partially awards Treasury bills at higher rates
THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday, borrowing via the one-year paper for the first time since early last month even as investors asked for higher rates amid expectations of rate hikes here and abroad and an above 5% inflation print in May. The Bureau of the Treasury (BTr) raised […]
PBB books higher Q1 profit
PHILIPPINE Business Bank, Inc.’s (PBB) net income in the first quarter surged by 93.4% to P309.96 million on the improved performance of its core businesses. The bank said in a disclosure to the stock exchange on Thursday that its first-quarter performance went up from the P160.23 million it booked in the same period last year. […]
MREIT eyes fresh P15B property infusion
MREIT Inc., the Reit company of township developer Megaworld, reiterates its commitment to deliver on its P20 billion acquisition plan for 2022. In line with this, the company is already in discussion with sponsor Megaworld for the infusion of an additional P15 billion worth of commercial assets. This follows the announcement last month of MREIT’s […]
Gov’t makes partial award of reissued three-year T-bonds
THE GOVERNMENT partially awarded the reissued three-year Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher yields on expectations of high inflation and rate hikes from the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve. The Bureau of the Treasury (BTr) raised just P9.305 billion from its offer of three-year […]
Worst COVID outbreak leaves Taiwan insurers bracing for more than $1 billion in claims
TAIWAN’S worst coronavirus disease 2019 (COVID-19) outbreak has left the island’s insurers bracing for more than $1 billion in claims that the financial regulator is urging them to honor. The head of the Financial Supervisory Commission (FSC), Huang Tien-mu, has ordered insurers to pay out on valid COVID-related insurance policies after they faced criticism from […]
Treasury bill, bond rates expected to move sideways ahead of inflation data
RATES of government securities are seen to move sideways this week ahead of release of the inflation data and amid expectations for further rate hikes in June. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday or P5 billion each in 91-, 182- and 364-day securities. On Tuesday, […]
More ‘hot money’ enters the country in April
More foreign capital entered the country in April reflecting improved economic conditions as pandemic restrictions further eased. Data from the Bangko Sentral ng Pilipinas (BSP) showed foreign portfolio investments (FPI) or “hot money,” yielded a net inflow of $1.36 billion in April, a reversal from the $373.95 million net outflow seen in April 2021. This […]
Flag carrier to start first-ever Bangsamoro route in June
FLAG carrier Philippine Airlines (PAL) announced on Thursday that it will start regular fights between Cotabato City and Tawi-Tawi in June. The airline is “inaugurating the first-ever air links within the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM),” PAL said in an e-mailed statement. “Commencing on June 9, 2022, the new Cotabato – Tawi-Tawi – Cotabato PAL […]
Gov’t fully awards 10-year bonds at higher rate
THE government fully awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher rates after the central bank hiked borrowing costs and amid expectations of further monetary tightening here and in the United States. The Bureau of the Treasury (BTr) raised P35 billion as planned from the reissued 10-year bonds […]
LBC Express net income drops to P48.9 million
LBC Express Holdings, Inc. on Monday said its attributable net income for the first three months of the year decreased by 65% to P48.87 million from P139.73 million previously, mainly due to lower revenues. Revenues for the quarter fell 9.17% to P3.96 billion from P4.36 billion in the same period a year ago, the company’s […]
Gov’t partially awards T-bills after BSP decision
THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday as investors asked for higher returns due to high inflation and following the central bank’s rate hike. The Bureau of the Treasury (BTr) awarded just P8.5 billion in T-bills at its auction on Monday even as total tenders reached P36.545 billion, over twice […]
UnionBank looking to raise at least P1 billion from digital bond offering
UNIONBANK of the Philippines, Inc. wants to raise at least P1 billion from its offering of digital peso bonds. — BW FILE PHOTO UNIONBANK of the Philippines, Inc. (UnionBank) on Monday started offering digital peso bonds, the first of its kind in the country, to raise at least P1 billion in fresh funds. “The offering […]
Treasury bills, bonds may fetch higher rates after BSP decision
RATES of government securities on offer this week are expected to increase following the central bank’s decision to hike borrowing costs amid rising inflation. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday or P5 billion each in 91-, 182- and 364-day securities. On Tuesday, it will auction […]
BIR collections fall behind DBCC target
COLLECTIONS by the Bureau of Internal Revenue (BIR) in the first quarter this year is 8.9 percent short of the goal set by the Development Budget Coordination Committee (DBCC).The BIR only collected P47.2 billion as businesses avail themselves of the provision allowing outright crediting of their input value-added tax on capital goods under the Tax […]