Business
BSP chief tests negative for coronavirus
March 18, 2020, 8:37 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno will be attending the policy-making Monetary Board’s (MB) second rate-setting meet for the year on Thursday after he tested negative for coronavirus disease 2019 (Covid-19). Asked by the Philippine News Agency (PNA) for… Read More
Biz group seeks lower holiday pay for April amid quarantine
March 18, 2020, 5:20 pm
MANILA – The country’s largest business group is pushing for the lowering of holiday pay next month amid enhanced community quarantine in Luzon. In a statement Wednesday, the Philippine Chamber of Commerce and Industry (PCCI) said this would help businesses that have incurred losses as they… Read More
Financial firms extend payment deadlines amid quarantine
March 18, 2020, 4:37 pm
MANILA – Several banks have announced their decision on payment extensions on loan products after the government placed Luzon under an enhanced community quarantine until April 12. In an advisory, BDO said it is giving qualified credit card, auto, home, small and medium enterprise (SME), and… Read More
SMC deploys food donations to LGUs, hospitals
March 18, 2020, 4:02 pm
MANILA – San Miguel Corporation (SMC) continues to deliver food donations to local government units throughout Metro Manila, to help support communities and front-liners in the fight against the Covid-19 virus. On the first day of implementation of the enhanced community quarantine implemented… Read More
Luzon-wide quarantine to benefit people, economy
March 18, 2020, 3:11 pm
MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno on Wednesday said everyone’s cooperation is needed during the month-long Luzon-wide enhanced community quarantine to ensure not only public safety but also stability of the economy. In a text message to journalists, Diokno… Read More
Separate lane for cargoes sought for unhampered flow of goods
March 18, 2020, 2:08 pm
MANILA – Trade Secretary Ramon Lopez has sought for a faster lane for cargoes carrying basic necessities such as agricultural products, food, medical products, and hygiene products to ensure adequate supply in the market during the enhanced community quarantine in Luzon. In a press briefing… Read More
Peso weaker vs. USD as trading resumes
March 18, 2020, 1:34 pm
MANILA – The Philippine peso traded weaker against the US dollar in the morning session Wednesday, a day after financial market platforms suspended operations in line with the Luzon-wide enhanced community quarantine since Tuesday. It opened the day at 51.8, sideways from its 51.25 start during… Read More
IATF greenlights PH financial market ops
March 18, 2020, 8:31 am
MANILA – Philippine financial markets are set to re-open any day now after getting an exemption from the Inter-Agency Task Force (IATF) on the Luzon-wide enhanced community quarantine. In a joint statement released early Wednesday, the Department of Finance (DOF) and the Bangko Sentral ng… Read More
BSP sets July '20 implementation of new ratings system
March 17, 2020, 11:13 pm
MANILA – Philippine banks’ overall health will be measured using new supervisory assessment framework (SAFr) starting July 2020 in a bid to aid financial institutions assess risks and prepare for it. In a memorandum to all BSP-supervised financial institutions (BSFIs) dated March 5, BSP… Read More
Tourism sector to get big share from Covid-19 relief aid
March 17, 2020, 9:24 pm
MANILA – The tourism sector will receive a large chunk of the PHP27.1-billion package set by the government to cushion the impact of the coronavirus disease 2019 (Covid-19). In a statement on Tuesday, the Department of Finance (DOF) said a PHP14-billion aid from the Tourism Infrastructure and… Read More
Gov’t urges deferment of utility, loan payments amid quarantine
March 17, 2020, 8:04 pm
MANILA – Trade Secretary Ramon Lopez has urged utility companies to postpone payments during the enhanced community quarantine in Luzon. “We are trying to work also on deferring some of the costs like payment of utility bills,” Lopez said during the Laging Handa public briefing on Tuesday.… Read More
Select UCPB branches open in Luzon, full ops in Vis-Min
March 17, 2020, 7:08 pm
MANILA – The United Coconut Planters Bank (UCPB) has encouraged its Luzon-based clients to meet their banking services requirements via its mobile and online platforms. Select branches are open on shortened banking hours during the duration of the enhanced community quarantine in the main Luzon… Read More
Slowdown in China’s BRI investments seen to be short run
March 17, 2020, 6:38 pm
MANILA – China’s investments in countries participating in the Belt and Road Initiative (BRI) are expected to recover once the coronavirus disease 2019 (Covid-19) pandemic eases, an economist from property, technology, and investment advisory firm Juwai IQI said. Juwai IQI Chief Economist Shan… Read More
Dow Jones tumbles amid coronavirus selling panic
March 17, 2020, 2:43 pm
NEW YORK — Stock values in the United States tumbled again on Monday despite a Federal Reserve decision to cut interest rates and allay investor fears over a coronavirus pandemic that has claimed almost 7,000 lives globally. The Dow Jones stock market index fell by almost 3,000 points --… Read More
PH forex, gov't securities trading suspended
March 17, 2020, 2:40 pm
MANILA – Currency and government securities transactions have been suspended Tuesday, the first day of the Luzon-wide enhanced community quarantine aimed to address the rise of coronavirus disease 2019 (Covid-19) cases. This was disclosed by the Bangko Sentral ng Pilipinas (BSP) citing a report… Read More
DBM assures funds for gov’t operations during quarantine period
March 17, 2020, 11:30 am
MANILA – Budget and Management Secretary Wendel Avisado on Tuesday assured the public of adequate funding for government programs and activities despite the declaration of a state of public health emergency in the country. In a statement, he said that even as Malacanang ordered the… Read More
Banks urged to provide financial relief to clients, employees
March 16, 2020, 9:57 pm
MANILA – The Bangko Sentral ng Pilipinas (BSP) has urged banks to provide financial relief to their clients and employees as the country copes with the coronavirus disease 2019 (Covid-19) pandemic. The BSP also strongly encouraged its supervised financial institutions to temporarily suspend all… Read More
BOC expedites release of medical supplies from ports
March 16, 2020, 9:52 pm
MANILA – The government is accelerating the release of medical supplies from ports in the country, Finance Secretary Carlos Dominguez III said. “BOC is already fast-tracking releases of medical supplies,” he said in a Viber message to journalists Monday. This supports the statement… Read More
Diokno open to higher than 25 bps rate cut
March 16, 2020, 9:05 pm
MANILA – Bangko Sentral ng Pilipinas’ (BSP) officials are eyeing at least 25 basis points cut this week as additional measure to help contain the economic impact of the coronavirus disease 2019 (Covid-19), similar to what is being done overseas. … Read More
Stocks, peso slip as Covid-19 cases rise, Fed cuts rates
March 16, 2020, 8:06 pm
MANILA – Reports about the continued rise of coronavirus disease 2019 (Covid-19) cases in the Philippines alone and another emergency rate cut by the Federal Reserve resulted in the negative close of both the peso and the main stock index Monday. The peso ended the week’s first trading day at… Read More
