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by Jun Ebias

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by Jun Ebias

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PSE bucks capital provision in Securities Act

by by Jun Ebias - June 3, 2000 - 12:00am

The Philippine Stock Exchange (PSE) is opposing the inclusion of a capital requirement for brokerage houses under the proposed Securities Act of 200 since it would put small brokers out of business, PSE governor...

SM Prime steps up shopping mall devt program

by by Jun Ebias - June 3, 2000 - 12:00am

With personal consumption on an upswing and expected to continue growing over the medium-term SM Prime Holdings is going full swing in its shopping mall development as it expects to bankroll three projects within...

RCBC aims for dominant position in consumer, retail banking sector

by by Jun Ebias - June 2, 2000 - 12:00am

Rizal Commercial Banking Corp. (RCBC), the banking-arm of former Ambassador Alfonso Yuchengco, is moving closer to occupying a dominant position in the highly competitive consumer and retail banking markets with...

BSP asks PNB to submit rehab plan

by by Jun Ebias - June 1, 2000 - 12:00am

The group of Lucio Tan, who controls 46 percent of Philippine National Bank (PNB), is confident they can reverse the bank's financial condition in the next few months even as the Bangko Sentral ng Pilipinas (BSP)...

BSP to probe dollar deals of banks

by by Jun Ebias - May 31, 2000 - 12:00am

Malacañang wants the Bangko Sentral ng Pilipinas (BSP) to conduct a thorough investigation of the foreign exchange transactions of banks suspected of resorting to anomalous deals that caused the peso...

IN BID TO ACQUIRE URBAN BANK: Bancommerce wins support of majorityshareholders

by by Jun Ebias - May 31, 2000 - 12:00am

Bank of Commerce moved one step closer to acquiring Urban Bank after winning the support of its majority stockholders, Bank of Commerce President Raul de Mesa said yesterday. He said major shareholders like...

Bancommerce inks MOA with Urban owners

by by Jun Ebias - May 30, 2000 - 12:00am

Bank of Commerce is finalizing its bid to acquire Urban Bank by joining forces with the major stockholders of the closed bank. Social Security System (SSS) chairman and president Carlos Arellano said yesterday...

Keppel to buy 10% of Equitable PCI Bank

by by Jun Ebias - May 30, 2000 - 12:00am

Keppel Tatlee Bank Ltd. of Singapore is set to acquire 10 percent of Equitable PCI Bank by buying the shares of the Social Security System (SSS) and Government Services Insurance System (GSIS), SSS chairman and...

SSS, GSIS told to limit investments in private firms

by by Jun Ebias - May 30, 2000 - 12:00am

The Department of Finance (DOF) has ordered the two state pension funds -- Social Security System (SSS) and Government Services Insurance System (GSIS) -- to limit their investment in corporations to 30 percent...

Gov't eyes new IMF program

by by Jun Ebias - May 29, 2000 - 12:00am

The government may enter into a new two-year program with the International Monetary Fund (IMF) after the current program expires in December this year to assure international investors that the country will...

Gov't plans to tap Japanese market for $700-M bond offer

by by Jun Ebias - May 29, 2000 - 12:00am

The government plans to tap the Japanese market for its planned $700- million bond to finance the projected P62.5-billion budget deficit and pay maturing obligations, Finance Secretary Jose Pardo said over the...

Gov't determined to keep T-bill rates from rising

by by Jun Ebias - May 28, 2000 - 12:00am

The government will not allow Treasury bill (T-bill) rates to climb in tomorrow's auction as it has enough cash to reject high bids, Finance Secretary Jose Pardo said over the weekend. He said T-bill rates would...

Peso rebounds; BSP won't hike key rates

by by Jun Ebias - May 27, 2000 - 12:00am

The peso recovered a substantial 68 centavos yesterday, closing at 42.72 from a near 20-month low of 43.40 to the dollar on Thursday, prompting the Bangko Sentral ng Pilipinas (BSP) to forego a plan to raise...

Gov't mulls special fund for distressed firms

by by Jun Ebias - May 27, 2000 - 12:00am

The government is considering the creation of a multi-billion peso special "competitiveness" fund to assist distressed companies that are temporarily experiencing liquidity problems, Finance Secretary Jose Pardo...

Peso is now P43.40 To $1

by by Jun Ebias - May 26, 2000 - 12:00am

Despite efforts by the Bangko Sentral ng Pilipinas (BSP) to defend the peso against speculative attacks by raising anew its key overnight rates, the local currency continued to plumb new depths, closing at a...

RP to draw from IMF facility in June

by by Jun Ebias - May 26, 2000 - 12:00am

The government will draw from $200 million to $300 million from the International Monetary Fund (IMF) by next month to boost its gross international reserves (GIR), Finance Secretary Jose T. Pardo said yesterday. "We...

Peso dives to 42.37:$1

by by Jun Ebias - May 24, 2000 - 12:00am

The peso continued to nosedive yesterday, breaching a key resistance level of 42 to the dollar as it closed at 42.370 amid persistent concerns over the spate of bombing incidents in Metro Manila. Currency traders...

BSP may scrap last stage of capital hike for banks

by by Jun Ebias - May 24, 2000 - 12:00am

The Bangko Sentral ng Pilipinas (BSP) may no longer require banks from complying with a higher capitalization set to take effect on Dec. 31, 2000, the last phase of the three-part capital hike implemented by...

NG to downscale targets

by by Jun Ebias - May 24, 2000 - 12:00am

The government plans to scale down growth targets this year due to the Mindanao conflict, Finance Secretary Jose Pardo admitted yesterday. "We may have to tighten the estimates on GDP and GNP," Pardo said. The...

Foreign investors seen acquiring local banks

by by Jun Ebias - May 23, 2000 - 12:00am

Several European and Asian banks have signified interest in acquiring full ownership of local banks as this is now allowed under the new General Banking Act (GBA) scheduled for signing today at Malacañang,...

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