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Local firm gets P2.3-B Jica loan

The government of Japan is helping boost the Philippines’ so-called nautical highway with a P2.3-billion loan meant to help expand the fleet of Archipelago Philippine Ferries Corp. (APFC).

Posted: April 17th, 2014 in Headlines | Read More »

BPI thrift unit bets big on online loans

Screengrab from http://www.bpiloans.com/

The country’s largest thrift bank, BPI Family Bank sees over half of total consumer loan applications being generated online in a couple of years, with the launch of a revamped online platform designed as a one-stop shop for consumers seeking car, housing, personal or business loans.

Posted: April 7th, 2014 in Latest Business Stories | Read More »

PH banks extended more dollar loans in 2013

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Dollar loans extended by the country’s banks rose by more than a fifth at the end of last year, driven by strong demand for financing because of a booming local economy.

Posted: March 31st, 2014 in Editor's Pick,Headlines | Read More »

IMF offers Ukraine up to $18 billion in loans

A boy runs with a Russian national flag at the Crimean parliament in Simferopol, Crimea, Wednesday, March 26, 2014. AP

The International Monetary Fund says it will loan Ukraine’s fledgling government between $14 billion and $18 billion.

Posted: March 27th, 2014 in Latest Business Stories | Read More »

World Bank OKs $300M loan for PH education program

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Basic reading and mathematics skills of more than four million of the country’s poorest kids should improve as a result of a new World Bank-funded Department of Education project for grade school students.

Posted: March 20th, 2014 in Headlines | Read More »

Banks shun BSP’s rediscounting facility

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The Philippines’ major banks have completely abandoned the central bank’s rediscounting facility as they sought cheaper funds from other sources in the country’s cash-rich financial sector.

Posted: February 12th, 2014 in Headlines | Read More »

State lawyers oppose Ongpin foreign trips

Businessman Roberto Ongpin  INQUIRER FILE PHOTO

State prosecutors from the Office of the Ombudsman have asked the Sandiganbayan to deny for lack of merit the amended travel request of businessman Roberto Ongpin for a 14-nation swing around the world.

Posted: February 7th, 2014 in Latest Business Stories | Read More »

Rediscounted loans down 61.4% in ’13

Loans rediscounted by local lenders with the central bank remained low at the end of 2013 amid the availability of excess cash in the Philippine economy, the Bangko Sentral ng Pilipinas (BSP) reported.

Posted: January 10th, 2014 in Headlines | Read More »

Gov’t debt stock up 5.4% in Oct.

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The outstanding debt of the government rose further in October as the state continued to take out loans to support its expenditures.   The Bureau of the Treasury on Wednesday reported that the government’s outstanding debt reached P5.65 trillion as of the end of October—up by 5.4 percent year on year.   But finance officials [...]

Posted: January 9th, 2014 in Headlines | Read More »

More forex loans taken out in Q3, says BSP

Most foreign portfolio investors divested their Philippine interests last month, letting go of holdings of listed shares, government IOUs and time deposits, and took their cash back to the United States. AFP FILE PHOTO

Loans denominated in foreign currencies extended by local banks rose in the third quarter of the year due to the increase in trading activities, which led to a higher demand for dollars, central bank data showed.

Posted: December 31st, 2013 in Latest Business Stories | Read More »

Small banks’ bad loans up by 10%

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Soured loans held by small domestic banks grew by 10 percent in the first quarter amid aggressive lending activities, based data released by the central bank.

Posted: October 20th, 2013 in Headlines | Read More »

Landbank loans to priority sectors up 16%

Land Bank of the Philippines said loans extended to its priority sectors rose by 16 percent as of June this year to P206.2 billion from P177.2 billion a year ago.

Posted: September 16th, 2013 in Headlines | Read More »

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