Banking & Insurance

Average rates on treasury bills drifted lower at the auction Monday as demand continued to increase after the central bank confirmed its commitment to further monetary policy easing this year.

The country's balance of payments (BOP) position for the fourth quarter of 2024 shifted to a deficit of USD4.5 billion, a stark contrast from the USD1.9 billion surplus recorded in the same period of 2023.

In a recent survey conducted by the Bangko Sentral ng Pilipinas (BSP), food and beverages consumed at home were found to be the largest expenditure for Filipino households, comprising 55.4 percent of their total spending in 2021.

The Department of Public Works and Highways (DPWH) is set to receive funding from the Asian Development Bank (ADB) to support major flood mitigation initiatives that address recurring flooding and enhance community resilience across the Philippines.

The government’s privatization program has received a significant boost with the issuance of new guidelines by the Privatization Council (PrC), expediting the disposition of non-performing public assets. Finance Secretary Ralph G. Recto said the guidelines will not only generate additional non-tax revenue but also offer investment opportunities for ordinary Filipinos.