Banking & Insurance
Fed holds rates, keeps caution dialed
The US Federal Reserve kept interest rates unchanged on Wednesday, signaling confidence in the economy’s underlying momentum while resisting growing political pressure to ease policy.
PCC clears insurance merger reshaping market
The Philippine Competition Commission (PCC) has approved the merger of FPG Insurance Co. Inc. and The Mercantile Insurance Company, Inc., clearing the way for one of the most significant consolidations yet in the country’s non-life insurance sector.
Manila Water locks in P27B loan for Wawa acquisition
Manila Water Co. Inc., the east zone water concessionaire controlled by tycoon Enrique Razon, has secured a 15-year, P27-billion loan from BDO Unibank Inc. to fund its acquisition of WawaJVCo. Inc., strengthening its grip on a critical water source for Metro Manila.
Banks, DTI forge startup growth pact
Global financial institutions are deepening ties with the Department of Trade and Industry (DTI) to accelerate Philippine startup growth and expand innovation links across ASEAN and Japan.
BIR resets audits with tighter, fairer rules
The Bureau of Internal Revenue (BIR) is rebooting its audit regime, promising fewer surprises and more predictability for taxpayers as field audits officially resume.
