PDIC asks shuttered bank’s borrowers to still pay loans
THE Philippine Deposit Insurance Corp. (PDIC) advised the borrowers of Rural Bank of San Juan (Southern Leyte) Inc. to pay their loans despite the bank being already closed.
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THE Philippine Deposit Insurance Corp. (PDIC) advised the borrowers of Rural Bank of San Juan (Southern Leyte) Inc. to pay their loans despite the bank being already closed.
THE national government’s total gross borrowings from January to April declined by slightly over 6 percent year-on-year due to lower domestic borrowing despite the uptick in its external financing.
THE Department of Finance (DOF) assured security and defense officials and officers that they would have representation in the oversight committee of the proposed military and uniformed personnel (MUP) reformed pension system.
The administration of President Ferdinand R. Marcos Jr. has maintained its economic growth outlook of 6 percent to 7 percent for this year despite a “narrowed” full-year inflation forecast as it took into account the detrimental effects of El Niño and global economic slowdown.
THE Department of Migrant Workers (DMW) is seeing an upward trend in the deployment of Filipino migrant workers after total deployment last year returned to the above-1 million mark following a two-year downtrend.
THE Government Service Insurance System (GSIS) allayed concerns of some police officers on the “co-mingling” of the pension of military and uniformed personnel (MUP) with other funds, arguing that such will not happen under the state pension fund’s watch.
THE country’s Gross International Reserves (GIR) as of end-May fell by $500 million to $101.3 billion from $101.8 billion, according to the Bangko Sentral ng Pilipinas (BSP).
THE chairman of the House Ways and Means committee on Wednesday defended the Maharlika Investment Fund (MIF) bill, which Congress approved before adjourning sine die, from criticism by 21 faculty members of the UP School of Economics (UPSE) who described it as “beyond repair.”
FINANCE Secretary Benjamin E. Diokno on Wednesday defended the Maharlika Investment Fund (MIF), recently approved by the 19th Congress, from criticism by University of the Philippines School of Economics (UPSE) faculty members who urged President Ferdinand R. Marcos Jr. to reconsider signing it into law.
NEARLY two dozen faculty members of the UP School of Economics (UPSE) on Tuesday expressed “grave concerns” regarding the proposed Maharlika Investment Fund (MIF) and urged President Marcos Jr. to “seriously reconsider” enacting the measure into law.
THE fourth consecutive month of inflation slowdown in May “gives” confidence that the rate would be within the government’s target range of two to four percent by September, the Department of Finance (DOF) said.
THE Bureau of Treasury (BTr) on Tuesday raised P25 billion from the auction of Treasury bonds (T-bonds), marking the seventh straight week of full award, as investors’ asking rates were lower than the original coupon rate.
THE Bank of the Philippine Islands (BPI) sees its loan book for small enterprises expanding by 10 percent this year on the back of stronger consumer confidence driven by the country’s stable economic performance and easing inflation.
BUDGET Secretary Amenah F. Pangandaman said the proposed P5.75-trillion 2024 national budget will sustain the priority sectors in this year’s budget, including infrastructure, agriculture, health and education.
THE internal revenue bureau sees an increase in its collection of tobacco-related taxes as the number of registered firms engaged in the sale of cigarette, vape and other tobacco products more than doubled this year.
Despite a slight uptick in investors’ asking yield, the Bureau of the Treasury (BTr) made a full award of Treasury bills (T-bills) on Monday amounting to a total of P15 billion.
THE Philippines could achieve the coveted “A” credit rating before President Marcos Jr. steps down from office, according to projections by Finance Secretary Benjamin E. Diokno.
THE Finance Department expects the Maharlika Investment Corp. (MIC) to be operational before the end of the year as President Marcos Jr. is on track to sign into law the Maharlika Investment Fund (MIF) before his second State of the Nation Address (SONA).
THE Customs bureau has issued guidelines that would oversee the implementation of preferential tariffs on imported goods coming from member-countries of the Regional Comprehensive Economic Partnership (RCEP) agreement.
FINANCE officials announced through a statement that government’s economists are introducing changes to proposed reforms in the pension of military and uniformed personnel following a meeting with defense and security officials.
The Bureau of Customs (BOC) on Friday said its tariff collections in May rose by an annualized rate of 17.36 percent to over P77 billion on the back of its “intensified” anti-smuggling efforts.
THE Philippines’s Purchasing Managers’ Index (PMI) rebounded in May, snapping three consecutive months of slowdown as factory orders and manufacturing output posted “quicker” expansions, according to Standard & Poor’s (S&P) Global.
THE Department of Budget and Management (DBM) stressed that “timely” release of budget is “crucial” in the implementation of the government’s various programs and projects as the national government prepares for the P5.75-trillion budget next year.
DESPITE recent phishing issues involving certain mobile wallets, Filipinos would continue to use cashless payments and other digital transactions because of its convenience and security, a Visa Philippines executive said.
THE Philippines’s outstanding debt has climbed to P13.911 trillion, the highest in the country’s history, on the back of more external borrowing worsened by the depreciation of the local currency, according to the Bureau of the Treasury (BTr).
THE Bangko Sentral ng Pilipinas (BSP) said the country’s inflation for May could slow to its lowest rate in 12 months at 5.8 percent on the back of lower prices of oil, fish and chicken.
SUN LIFE Investment Management and Trust Corporation (SLIMTC) on Wednesday projected that the country’s GDP in the second quarter would be slower than the first quarter while maintaining its 5.35-percent full-year economic growth outlook for 2023 due to base effects.
THE economic team of the Marcos Jr. administration assured the public that the approved Senate version of the Maharlika Investment Fund (MIF) — which the House later adopted— contains all the safeguards against abuse and ensures prudent use of the P500-billion fund.
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