BSP to allocate P62 billion for Maharlika Investment Fund in 2 years
The Bangko Sentral ng Pilipinas (BSP) will remit around P62 billion over two years to support the Maharlika Investment Fund (MIF), with an initial P31 billion dividend payment, despite no longer being obligated to remit dividends to the government, according to BSP Governor Eli M. Remolona.
GSIS provides initial payout to PhilPost for fire insurance
The GSIS has provided an initial P100 million insurance payout to PhilPost for the fire that damaged the Manila Central Post Office building, emphasizing the need for government agencies to insure their assets for swift recovery.
Philippine inflation slows to 16-Month low in July
Philippine inflation in July reached a 16-month low of 4.7%, primarily due to decreased housing, water, gas, and fuel prices.
BSP prepared to adjust key rates to address potential price increases
Despite a 4.7% decrease in July’s inflation rate, the Bangko Sentral ng Pilipinas (BSP) is prepared to adjust its monetary policy stance to counter potential price increases and stabilize the peso exchange rate, import prices, and overall inflation.
Caritas Health Shield Placed Under Receivership by Insurance Commission
Caritas Health Shield, a health maintenance organization (HMO), has been placed under receivership by the Insurance Commission due to financial difficulties and failure to meet net worth requirements.
LandBank ready for possible DBP merger
Lynette Ortiz, LandBank’s President and Chief Executive Officer, affirms the bank’s readiness for a potential merger with the DBP, aiming to create a larger government bank, while DBP Chairman Dante Tiñga remains opposed due to perceived risks.
DBP concludes P1-B interest subsidy distribution to LGUs
The Development Bank of the Philippines (DBP) has completed the disbursement of a P1-billion interest rate subsidy to 264 local government units (LGUs) as part of their Covid-19 response and recovery efforts.
BPI-Robinsons Bank merger expected to finalize by January 2024
BPI-Robinsons Bank merger is sett for January 2024, pending regulatory approval, according to BPI President TG Limcaoco.
Aboitiz digital bank joins forces with AirAsia for Travel Financing
Aboitiz’s UnionDigital Bank partners with AirAsia’s airasia Superapp and BigPay to offer travel financing options, allowing travelers to book flights through flexible financing schemes and pay-later arrangements.
Metrobank presents ‘Wisdom of Da Vinci: Immersive AI Experience’
Metrobank has partnered with Bonifacio Global City (BGC) to offer an immersive AI experience, “Wisdom of Da Vinci,” featuring iconic works of Leonardo da Vinci.