Banking & Insurance
Fitch Ratings downgrades further PH growth outlook to 5.8%
Sovereign credit watcher Fitch Ratings has downgraded further the country’s output growth, or the gross domestic product (GDP), to 5.8 percent this year as part of its assessment on the government’s plan to sell US dollar- and euro-denominated bonds.
BTr raises T-bill issue size despite increase in interest rates
Treasury bill yields were slightly higher at the auction Tuesday but the Bureau of the Treasury still upsized the issue amount to take advantage of the strong bids.
BSP chief Remolona cited as one of world’s best central banker
Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr. has been recognized as one of the top-performing central bank governors globally, receiving an “A-” rating in Global Finance magazine’s 2024 Central Banker Report Cards. The prestigious annual ranking evaluates central bankers from nearly 100 countries, territories, and regions.
BOC seizes P19 million worth of vape products in Manila, Laguna warehouses
The Bureau of Customs reported seizing P19 million worth of vape products in two separate warehouses in Manila and Laguna.
A.M. Best affirms Malayan Insurance’s strong financial foundation
The Malayan Insurance Co. Inc. (Malayan Insurance) has maintained its financial strength rating of B++ (Good) from the insurance industry-focused rating agency A. M. Best.
