DOF orders LGU treasurers to monitor use of COVID-19 grants
The Department of Finance (DOF) has ordered local treasurers to monitor the use of grants that their local government units (LGUs) had received for COVID-19 response. The DOF’s Bureau of…
COVID-19 impact: Spanish think tank slashes PH growth forecast to 1.4 percent
Barcelona-based FocusEconomics has slashed its 2020 growth forecast for the Philippines to 1.4 percent as the COVID-19 pandemic and the local lockdown to fight the disease deeply hurt the economy.…
Metrobank’s Q1 profit down 9.3% on higher loan loss buffer
Metropolitan Bank & Trust Co. chalked up P6.1 billion in net income for the first quarter, down by 9.3 percent year-on-year, on higher provisions made for possible credit losses given…
BSP’s March dollar reserves up, boosting peso’s strength
MANILA, Philippines — The Philippines’ dollar reserves rose for the second month in a row despite the onset of the coronavirus crisis in March, thanks to the central bank’s foreign…
Asian shares rise on hopes for drug to treat coronavirus
TOKYO — Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to…
AEV’s Q1 net profit down by 42% on slower power business
Conglomerate Aboitiz Equity Ventures (AEV) posted a 42 percent drop in first quarter net profit to P2 billion mostly due to slower earnings from its flagship power business. AEV also…
Stocks charge higher on hopes for progress in fighting virus
Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19. A man wearing face mask walks past a bank…
Tax holiday pushed for medical front-liners in virus fight
Health-care workers on the front line of the fight against the coronavirus pandemic should be exempt from paying taxes for two months as a reward for their contributions, a lawmaker…
GSIS: Pension out starting May 5
A total of 511,000 retirees and pensioners of the Government Service Insurance System (GSIS) are scheduled to receive their cash benefit starting on Tuesday, May 5, three days earlier than…
Treasury to sell P170B in T-bills, bonds in May
The Bureau of the Treasury will sell P170 billion in T-bills and bonds in May, with longer tenors that are expected to entice domestic investors amid declining rates. The volume…