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The national treasury rejected all bids for the P30-billion, three-year treasury bonds it offered at auction Tuesday to prevent the cost of borrowing from rising.

Grab Philippines on Monday bared asking the Department of Transportation (DOTr) to allow it to organize a "holiday fleet" that will address the anticipated spike in demand for mobility in the run up to the Christmas holidays.

The country's big commercial and universal banks extended loans just shy of P11 trillion in July this year, marginally lower than the previous June when these same loans aggregated P10.985 trillion, according to the Bangko Sentral ng Pilipinas (BSP).

Elevated inflation and interest rates, costlier raw materials and production costs, falling sales and demand for goods and services due weather-related disruptions and other seasonal factors pushed the business confidence index lower in the third quarter to 35.8 percent from 40.8 percent a quarter earlier.

The Bangko Sentral ng Pilipinas kept the rate at which it borrows from and lends to banks unchanged on Thursday at 6.25 percent but made it perfectly clear the policy-making monetary board will act as quickly as at its next rate-setting meeting in November and raise the polic ratey should this be warranted.