Banking & Finance

By Riza Lozada The Asian Development Bank (ADB) said it is revising its lending procedures after an update on its anticorruption policy to address tax secrecy, tax evasion, and aggressive forms of tax planning, collectively referred to as “tax integrity issues,” in the wake of recent global developments.

United States monetary officials’ concerns on the impact of global economic developments on the US economy and the Federal Reserve (Fed) rates is seen positive for capital flows to emerging economies like the Philippines.

Foreign portfolio investments, otherwise known as “hot money,” due to its transient nature, posted a net inflow of $344.23 million as of June 26, Bangko Sentral ng Pilipinas (BSP) data showed. 

By Riza Lozada Growth in local trade resulted in foreign- currency (forex) borrowings among local banks to grow 11.4 percent in the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.

The Securities and Exchange Commission (SEC) approved the change of name of insurance holding company Generali Pilipinas Holding Cp. Inc. (GPHC) to BDO Life Assurance Holdings Corp. (BDO Life Holdings), and its wholly-owned life insurance company, Generali Pilipinas Life Assurance Company Inc. (GPLAC), to BDO Life Assurance Company Inc. (BDO Life), BDO Unibank reported to the Philippine Stock Exchange.

Bond yields in most emerging East Asian markets continued to track lower from March 1 to May 15, except for the Philippines and China, as investors factored in forecasts of continued slow growth for the global economy, Asian Development Bank’s (ADB) latest Asia Bond Monitor said.

Any change in the Bangko Sentral ng Pilipinas (BSP) policy rates is expected to happen only in the first half of 2017, the Australia and New Zealand Banking Group Ltd (ANZ), the fourth largest bank by market capitalization in Australia, said after the BSP kept monetary policy settings unchanged last week. 

Asia-Pacific real-estate investment trust (REITs) have built up strong credit foundations that will stand them in good stead to withstand a market shock, Standard & Poor’s (S&P) Global Ratings said in a report.

By Riza Lozada The overall balance-of-payments (BOP) surplus in 2016 is expected to taper off to $2.0 billion from $2.2 billion in the December 2015 projection, the Bangko Sentral ng Pilipinas (BSP) reported. 

Credit-rating firm Fitch Ratings has backed findings of the Bangko Sentral ng Pilipinas (BSP) on the possibility of a real-estate price bubble, as property prices continue to rise amid the rapid improvement in the economy and the business-process outsourcing (BPO) boom.