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Ian Nicolas Cigaral

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Ian Nicolas Cigaral

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BSP orders social media app Lyka to stop payment system operations

by Ian Nicolas Cigaral - July 23, 2021 - 3:26pm

The Bangko Sentral ng Pilipinas has ordered social media app Lyka to stop its operation as a payment system operator, saying the company is not registered to perform such a function.

Backed by IFC, UnionBank to issue Philippines' second social bonds

by Ian Nicolas Cigaral - July 23, 2021 - 12:03pm

Aboitiz-led Union Bank of the Philippines would sell “social” bonds to finance loans for small companies that were badly hit by the pandemic, with World Bank’s private sector arm investing in the...

BPI profits up 28.8% on lower loan loss buffers

by Ian Nicolas Cigaral - July 22, 2021 - 11:01am

Bank of the Philippine Islands saw its earnings grow by over a fifth in the second quarter, after the lender funneled less resources on buffers against bad loans from pandemic-hit borrowers.

Pandemic-induced debt growth may have peaked already — Dominguez

by Ian Nicolas Cigaral - July 21, 2021 - 4:03pm

The pandemic-induced rise of government debts likely hit its peak already, and a return to pre-crisis fiscal health could happen late next year, Finance Secretary Carlos Dominguez III said Wednesday.

BSP gives Philippines a fourth digital bank player: UnionBank

by Ian Nicolas Cigaral - July 21, 2021 - 10:28am

Aboitiz-led Union Bank of the Philippines received a green light from the Bangko Sentral ng Pilipinas to establish its own digital bank, joining other players in the emerging industry.

Gov't keeps growth goals, eyes record P5.02-T budget in Duterte's final year

by Ian Nicolas Cigaral - July 19, 2021 - 7:01pm

The Duterte administration is sticking to its current economic outlook and is preparing a record budget for its final year in a bid to help the economy recover from a pandemic-induced crash.

Local shares drop as Delta variant brings fresh threat to Philippines

by Ian Nicolas Cigaral - July 19, 2021 - 1:39pm

The detection of highly contagious Covid-19 Delta variant in the Philippines sent local shares into a tailspin on Monday, amid growing unease among investors over the virus’ threat to economic recove...

Del Monte Philippines gets SEC’s green light for P44.07-B IPO

by Ian Nicolas Cigaral - July 16, 2021 - 10:42am

Food manufacturer Del Monte Philippines Inc. has secured regulatory approval for its P44.07-billion initial public offering, which would come at a turbulent time for the stock market amid pandemic-induced uncer...

Holcim Philippines investing P210-M to reduce fuel consumption, carbon emission

by Ian Nicolas Cigaral - July 15, 2021 - 3:35pm

Holcim Philippines Inc. is spending P210 million on projects meant to raise the efficiency of its cement factories by reducing both fuel consumption and carbon footprint.

Fintech firms to overtake banks in cornering unbanked Filipinos — Moody's

by Ian Nicolas Cigaral - July 15, 2021 - 11:52am

Fintech companies are poised to overtake banks in capturing unbanked Filipinos, likely leading to missed opportunities for conventional lenders to attract new customers and create fresh sources of revenue.

Fitch's 'negative' outlook sends Philippines shares into a tailspin

by Ian Nicolas Cigaral - July 13, 2021 - 2:49pm

Philippine shares bucked a regional uptrend to close lower on Tuesday, as investors sold on Fitch Ratings’ announcement that raised the specter of a credit rating downgrade for the country.

Easing lockdowns bring back economy's old enemy: current account deficit

by Ian Nicolas Cigaral - July 13, 2021 - 2:47pm

As pandemic restrictions ease, an old enemy of the Philippine economy is threatening to return and disrupt recovery: the current account deficit.

Low base boosts June car sales to 4-month high

by Ian Nicolas Cigaral - July 13, 2021 - 11:15am

Car sales soared to a 4-month high in June to post another double-digit growth, as low base effects from last year’s pandemic-induced slump continued to bloat the figures.

Investment grade at risk after Fitch turns 'negative' on Philippines

by Ian Nicolas Cigaral - July 12, 2021 - 9:32pm

The Philippines’ hard-earned credit rating that the Duterte administration tried to protect by limiting pandemic spending is now at risk of being downgraded, as the health crisis is seen leaving deep economic...

FDIs clock triple-digit growth in April on low base

by Ian Nicolas Cigaral - July 12, 2021 - 5:54pm

Foreign direct investments to the Philippines posted another month of triple-digit growth in April, with much of the lift coming from base effects from last year’s pandemic-induced slump.

Surging imports bring peso back to P50-per-dollar level

by Ian Nicolas Cigaral - July 9, 2021 - 4:54pm

Surging demand for dollars amid a spike in imports sank the Philippine peso to its lowest level in more than a year on Friday, with the local unit now back to the P50-level against the greenback.

Filinvest-backed REIT firm clears SEC hurdle for P14.9-B IPO

by Ian Nicolas Cigaral - July 6, 2021 - 4:07pm

Gotianun-led Filinvest Land Inc. has secured a regulatory clearance to proceed with the planned maiden share sale of its own real estate investment trust company, joining other property giants in the country’s...

Pandemic costs push up government debt beyond P11 trillion in May

by Ian Nicolas Cigaral - July 5, 2021 - 3:06pm

The government’s outstanding debt sustained an uptrend in May to breach the P11-trillion mark amid the Duterte administration’s continued borrowing binge to fund ballooning pandemic expenses.

Merger with UCPB may hurt LANDBANK's financial health — Fitch

by Ian Nicolas Cigaral - July 1, 2021 - 5:52pm

The upcoming merger of Land Bank of the Philippines with United Coconut Planters Bank could risk tarnishing the former’s credit profile, Fitch Ratings said.

Lockdown easing has local factories humming again in June

by Ian Nicolas Cigaral - July 1, 2021 - 3:24pm

Local factories are humming again in June following two consecutive months of output slump, although the recovery was only “marginal” as existing pandemic lockdowns continue to be a big hurdle for m...

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