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Nomura, DBS keep 2017 GDP forecasts for PH

MANILA — Japanese financial firm Nomura maintains its 6.7-percent growth forecast for the Philippine economy this 2017 on back of better fiscal support and capital spending. In a report titled Global Markets Research dated August 17, 2017, Nomura said the 6.5 percent growth, as measured by gross domestic product (GDP), in the second quarter of the …

Rosy PH growth seen to continue: BSP

MANILA  – Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. is optimistic the Philippine economy will continue to grow in the medium term following its 6.5 percent expansion in the second quarter of 2017. The Philippine Statistics Authority (PSA) on Thursday reported faster domestic expansion, as measured by gross domestic product (GDP), in …

28-day TDF’s weighted average yield up Wednesday

  MANILA — Weighted average accepted yield of the 28-day term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) rose Wednesday, unlike that of the seven-day facility. Data released by the central bank show that weighted average accepted yield of the longer-tenor facility went up to 3.4958 percent from 3.4936 percent in the …

PH economy remains strong but CA deficit might continue

MANILA — Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. expects the deficit on the country’s current account to continue as the domestic economy posts robust growth. During the Senate hearing for the proposed 2018 national budget on Wednesday, the central bank chief said higher importation of capital goods and raw materials were …

PSEi rises anew, peso almost flat vs. USD

MANILA — Philippines main stocks gauge rose for the third consecutive day Wednesday while the peso finished the day almost flat against the greenback. The Philippine Stocks Exchange index (PSEi) went up 0.46 percent, or 37.18 points, to 8,046.59 points, which a trader partly traced to waning fears on the conflict between the US and …

Filipinos becoming e-payment savvy: survey

  MANILA — Filipinos are becoming tech-savvy in their payment attitudes, an official of a global payments technology said, as he sees strong opportunities for banks to make leaps in terms of delivery of payment-related products. Results of the 2016 Visa Consumer Payment Attitudes Survey showed a big improvement on Filipinos’ appreciation of the electronic …

BSP chief cites peso’s resiliency

MANILA —The Philippine peso is again testing its 11-year low to a US dollar but continues to remain firm given the country’s strong macroeconomic fundamentals, Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla said. On Wednesday, the local  currency finished the day at 51.35, almost unchanged against its previous day’s 51.34 finish but almost …

CA deficit seen to continue as PH economy remains strong

MANILA – – Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr. expects the deficit on the country’s current account to continue as the domestic economy posts robust growth. During the Senate hearing for the proposed 2018 national budget on Wednesday, the central bank chief said higher importation of capital goods and raw materials …

US-NoKor threats weaken peso, PSEi

MANILA, Aug. 10 — Geo-political concerns on recent carping exchanges between US and North Korea weakened the Philippine peso anew Friday and resulted in  another contraction for the main stocks index. The peso touched the 51-level to a dollar in the morning session but ended the trade at 50.98, Php0.18 weaker than its 50.795 finish …

BDO upsizes LTNCD issuance to P11.8B on strong demand

MANILA, Aug. 11 — Due to strong demand , Sy-led Banco de Oro Unibank Inc. (BDO) opted to upsize the issuance of  Long-Term Negotiable Certificates of Deposits  (LTNCDs) from original amount of  PHP5 billion to PHP11.8 billion. This is, so far, the biggest LTNCD issuance for a local bank. In a disclosure with the Philippine …

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