Inflation to breach BSP’s 2-4% target in H2 until Q1 2023
Philippine central bank Governor Benjamin Diokno sees inflation breaching the government’s two to four percent target starting the second half of the year until the first quarter of next year due to higher global oil and non-oil prices as well as positive base effects.
BSP says digital banks to expand access of MSMEs to credit
Digital banks are seen supporting economic recovery from the COVID-19 pandemic by enhancing access of micro, small, and medium enterprises (MSMEs) to financing, according to the Bangko Sentral ng Pilipinas (BSP).
BSP to raise benchmark rates to 3.25% this year via 5 rate hikes – ANZ
The Australia and New Zealand Bank sees the Bangko Sentral ng Pilipinas (BSP) aggressively raising interest rates in the second half of the year, bringing the benchmark rate to 3.25 percent by the end of 2022 from the current all-time low of two percent.
ASEAN surveillance unit projects slower growth across region
The economic surveillance unit of southeast Asian countries and three of its richest neighbors forecast the region growing 4.7 percent this year in terms of the gross domestic product (GDP) and slower to only 4.6 percent next year.
Local venture capital industry attracts some of the global stars
Foxmont Capital Partners (FCP), a venture capital fund looking out for local startups and Filipino founders, raised more than $1 billion for its clients in 2021, nearly three times the amount it generated in 2021.
More than half of corruption probes involve customs officials
More than half of national government officials investigated for alleged corruption the past five years by the Department of Finance (DOF) are customs officials and about a third of them are revenue employees.
PSBank keeps highest credit rating
Philippine Rating Services Corp. (PhilRatings) has retained the PRS Aaa rating and stable outlook of Philippine Saving Bank (PSBank) led by Jose Vicente Alde.
China Bank in Financial Times’ ranking of high growth companies in Asia
China Banking Corp. led by William Whang is the only Philippine bank that made it to the Financial Times’ 2022 ranking of the top 500 high growth companies in Asia Pacific.
PLDT’s Voyager raises $210M to expand services of PayMaya, Maya Bank
Voyager Innovations, the technology arm of PLDT Inc., has raised $210 million in new funds, propelling its valuation to unicorn plus status at nearly $1.4 billion.