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Banking & Finance

DBM most transparent agency via FOI order

By Riza Lozada The Department of Budget and Management (DBM) was awarded as the sole FOI Champion agency for its outstanding commitment in ensuring transparency in public service in the recently concluded 2017 Freedom of Information (FOI) annual awards. Budget Secretary Benjamin Diokno along with Undersecretary Lilia Guillermo, received the award in behalf of the agency during the recognition ceremony …

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DBP tops governance score among state firms

State-owned Development Bank of the Philippines (DBP) was recently presented with an award of excellence by the Governance Commission for GOCCs and the Institute of Corporate Directors for achieving one of the highest scores on the Corporate Governance Scorecard (CGS) for government-owned and controlled corporations.

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PNB to double loan scheme for Mindanao

Commercial bank Philippine National Bank (PNB), which has 600 branches nationwide, will double its loan window facility in Southern Mindanao next year to provide more small and medium entrepreneurs (SMEs) access to financing.

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PDIC revives scheme to prod RBs to merge

The Philippine Deposit Insurance Corp. (PDIC), Bangko Sentral ng Pilipinas (BSP) and Land Bank of the Philippines (Land Bank) recently relaunched the Consolidation Program for Rural Banks (CPRB) that would take effect from October 26, 2017 up to October 26, 2019.

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LBC taps Bloomberg for online forex trade

Logistics firm LBC Express Holdings Inc (LBC) has adopted Bloomberg’s Foreign Exchange electronic trading platform (FXGO) to support its treasury function as it continues to expand and boost growth.

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Moody’s says most banks in region ‘highly leveraged’

By Riza Lozada Many banking systems in Asia Pacific are still exposed to elevated levels of private sector leverage, although the buildup of such leverage has slowed, Moody’s Investors Services (Moody’s) said in a report.

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ADB okays P15B loan to back infra buildup

By Riza Lozada The Asian Development Bank’s (ADB) board has approved a $300 million (P15 billion) loan and a $500,000 (P25 million) technical assistance grant to support the government’s efforts to develop the domestic capital market to help finance infrastructure.

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Philippine remains a ‘sweet spot’ for investors

Investors continue to consider the country as a sweet spot,  government officials and company executives said during the Euromoney Philippine Investment Forum.

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DBP bags award on financial inclusion

State-owned Development Bank of the Philippines (DBP) recently received the Visa Inclusive Growth Award 2017 for its role in promoting financial inclusion in the country.

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Mounting price hikes to prod rise in rates

By Riza Lozada An uptrend in prices will likely result to upward adjustments in the Bangko Sentral ng Pilipinas’ (BSP) key rates, studies said.

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