Top News
Banks keep 2Q loan rates steady
The outcome of the Q2 2024 Senior Bank Loan Officers’ Survey (SLOS) show most banks keeping their credit standards unchanged for loans to businesses and consumers based on the modal approach. But the diffusion index (DI) method indicated a net tightening of credit standards for business loans and unchanged lending standards for household loans.
Government budget deficit narrows in June to P209.1 billion
The National Government posted a narrower budget deficit in June—P209.1 billion compared with P225.4 billion a year ago—as revenue collection led by the Bureau of Internal Revenue and the Bureau of Customs increased faster than government expenditures.
DOE gains legislative support for proposal extending PSALM franchise beyond 2026
The Department of Energy (DOE) supports the proposal extending the corporate life of the Power Sector Assets and Liabilities Management Corp. (PSALM) beyond 2026 as part of the plan helping the government manage over P300 billion worth of power generation-related liabilities.
POGO ban impact on Metro Manila office rentals limited–Colliers
The order by President Ferdinand Marcos Jr. banning all Philippine offshore gaming operations, or POGO, will impact the market for office space in Metro Manila but not as substantially as it would have had the prohibition been made prior to the COVID-19 pandemic, diversified professional services and investment management firm Colliers said.
Metro Manila in ’State of Calamity’ due to Southwest Monsoon, Typhoon Carina induced floods
The government on Wednesday declared a state of calamity in Metro Manila, the country’s capital and economic hub, in response to widespread flooding caused by intense rainfall from Typhoon Carina and the Southwest Monsoon.
