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Lawrence Agcaoili
Lawrence Agcaoili
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No takers for BSP rediscount facility
by Lawrence Agcaoili - August 11, 2020 - 12:00am
Banks continued to snub the peso rediscounting loan facility of the Bangko Sentral ng Pilpinas for the third straight month in July as measures aimed at softening the blow of the pandemic on the economy released...
HSBC sees Philippine economy contracting 9.6%
by Lawrence Agcaoili - August 11, 2020 - 12:00am
British banking giant HSBC expects the Philippine economy to contract deeper by 9.6 percent this year due to the rising number of COVID-19 cases in the country.
Diokno: No need for new rate cut
by Lawrence Agcaoili - August 11, 2020 - 12:00am
The Bangko Sentral ng Pilipinas sees no immediate need to further cut interest rates, reiterating that the economic fallout from the coronavirus pandemic is temporary.
Bleak Philippines outlook seen
by Lawrence Agcaoili - August 10, 2020 - 12:00am
Global rating agencies raised concerns over the continued deterioration of the near-term outlook of the Philippines as a result of the coronavirus pandemic.
OFW remittances may drop by $5 billion this year
by Lawrence Agcaoili - August 10, 2020 - 12:00am
Remittances from overseas Filipino workers may drop by $5 billion this year as emerging markets, including the Philippines, face numerous challenges brought about by the coronavirus pandemic, according to Metropolitan...
Robinsons Bank rolls out new digital solution
by Lawrence Agcaoili - August 9, 2020 - 12:00am
Gokongwei-led Robinsons Bank Inc. has rolled out a new digital solution to provide ease and convenience for the thousands of Filipinos affected by the coronavirus disease 2019 or COVID-19 pandemic.
UnionBank, Lazada launch virtual credit card team-up
by Lawrence Agcaoili - August 9, 2020 - 12:00am
As Metro Manila and nearby areas were reverted back to a stricter modified enhanced community quarantine, Aboitiz-led Union Bank of the Philippines has partnered with Lazada Philippines and Mastercard to launch the...
Peso seen to weaken to 50: $1
by Lawrence Agcaoili - August 9, 2020 - 12:00am
Bank of the Philippine Islands expects the peso to weaken back to 50 to $1 level on the back of declining foreign exchange inflows amid the displacement of more overseas Filipino workers due to the global coronavirus...
BPI raises P21.5 billion via first issuance of COVID-19 bonds
by Lawrence Agcaoili - August 8, 2020 - 12:00am
Bank of the Philippine Islands raised P21.5 billion through the first-ever COVID-19 bond offering at the domestic debt market, with proceeds aimed at helping micro, small and medium enterprises recover from the...
Loan growth slows in June despite GCQ shift
by Lawrence Agcaoili - August 8, 2020 - 12:00am
Credit growth slowed down for the third straight month to single-digit level in June despite the slight reopening of the economy that stalled when Luzon was placed under enhanced community quarantine in the middle...
Deeper contraction seen in 2020
by Lawrence Agcaoili - August 8, 2020 - 12:00am
Think tanks are now looking at a deeper economic slump for the Philippines this year after the country slipped into a recession with a record 16.5 percent gross domestic product contraction in the second quart...
Credit rating downgrade ‘highly unlikely’ — Diokno
by Lawrence Agcaoili - August 8, 2020 - 12:00am
A credit rating downgrade is “highly unlikely” for the Philippines despite the country plunging into recession after suffering its worst economic slump on record in the second quarter, the head of the...
Philippines GDP forecasts recast downward
by Lawrence Agcaoili - August 7, 2020 - 12:00am
The worst economic performance on record logged in the second quarter has forced monetary authorities and economists to further downgrade their year-end forecasts for the Philippines.
BSP tightens inflation target to 1.75%-2.75%
by Lawrence Agcaoili - August 7, 2020 - 12:00am
he Bangko Sentral ng Pilipinas has revised the inflation assumption for this year amid the uptick in July and rising global oil prices.
Term deposit rates rise across the board
by Lawrence Agcaoili - August 6, 2020 - 12:00am
Term deposit rates rose across the board as Metro Manila and nearby provinces were reverted back to stricter modified enhanced community quarantine due to the rising number of COVID-19 cases.
EastWest profit soars 65% to P4.5 billion in 6 months
by Lawrence Agcaoili - August 6, 2020 - 12:00am
Gotianun-led EastWest Banking Corp. recorded a 65 percent jump in earnings in the first half despite building up its war chest for bad loans amid the COVID-19 pandemic.
Inflation spikes to 6-month high of 2.7% in July
by Lawrence Agcaoili - August 6, 2020 - 12:00am
Consumer prices grew at a faster pace in July, triggered mainly by higher transportation costs, the Philippine Statistics Authority (PSA) reported yesterday.
Bank consortium to self regulate payment system
by Lawrence Agcaoili - August 5, 2020 - 12:00am
A consortium of banks will act as a payment system regulator after the Bangko Sentral ng Pilipinas accredits the group as a payments system management body.
Banks told to improve borrower assessment
by Lawrence Agcaoili - August 5, 2020 - 12:00am
The Bangko Sentral ng Pilipinas has ordered banks to conduct a comprehensive assessment of the impact of the COVID-19 pandemic on the industry’s loan portfolio in anticipation of higher defaults.
Diokno: Shift to MECQ has limited economic impact
by Lawrence Agcaoili - August 4, 2020 - 12:00am
The Bangko Sentral ng Pilipinas said the reimposition of a stricter lockdown for 15 days would have limited impact on the country’s economy that is being battered by the novel coronavirus disease 2019 or COVID-19...
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