MAYVELIN U. CARABALLO, TMT

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The Bangko Sentral ng Pilipinas (BSP) urged the Philippines and other Asian countries to establish a stronger insolvency framework to avoid another financial crisis. In his remarks during the Ninth Forum on Asian Insolvency Reform, BSP Governor Amando Tetangco Jr. said that “weak insolvency systems” have been identified as one…

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Philippine banks have a huge advantage when it comes to expanding outside the country in the upcoming Association of Southeast Asian Nations (Asean) Economic Community (AEC) integration in 2015, software and technology services company SunGard said. SunGard’s statement was based on the findings of the Bank Readiness Report, which surveyed…

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The Insurance Commission (IC), together with industry stake-holders, have implemented a program that would address the urgent needs of the victims of Super Typhoon Yolanda, particularly in insurance claims. In a statement, the commission said that the program dubbed as “Agarang Proseso, Benepisyo ay Sigurado” was immediately approved and implemented…

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Universal and commercial banks (U/KBs) has kept its gross nonperforming loans (NPLs) low in September this year, data from the Bangko Sentral ng Pilipinas (BSP) showed on Monday. The banks’ gross NPLs, which are the actual level of “bad loans,” represented 2.6 percent of their total loan portfolio (TLP). “The…

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State insurer Philippine Deposit Insurance Corp. (PDIC) announced that it has sold P72.07 million from four properties during the recently concluded 8th Housing Fair. The Housing Fair, which was organized by the Housing and Urban Development Coordinating Council (HUDCC), was held at the SM Megamall, Mandaluyong City, on October 25…

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Insular Life has resumed its operations in the cities of Tacloban and Ormoc to serve its clients who have been the victims of Super Typhoon Yolanda. After being shut down by the super typhoon, the company said that its Tacloban City office opened its doors to policyholders and their beneficiaries…

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The Bangko Sentral ng Pilipinas (BSP) may retain its key policy settings until the first six months of 2014, according to ING Financial Markets economist. Tim Condon, chief Asia economist at ING Financial Markets, said that the supply disruptions because of the impact of Super Typhoon Yolanda could cause an…

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The Bangko Sentral ng Pilipinas (BSP) said that it does not see signs of bubble formation despite the continued demand for real property assets. “We do not yet see asset bubbles forming. But developments bear watching,” BSP Governor Amando Tetangco Jr. said in the recently concluded Foreign Correspondents Association of…

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The Bangko Sentral ng Pilipinas (BSP) said on Thursday that inflation rate could be as high as 3.3 percent to 4.1 percent for the month of November, because of the impact of the recent weather disturbances. In a text message, BSP Governor Amando Tetangco Jr. said that inflation “could pick…

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Standard Chartered Bank (SCB) has maintained its 2013 growth forecast for the Philippines at 7.2 percent, the bank said in a research report released on Thursday. “We maintain our forecast of 7.2-percent GDP [gross domestic product] growth in 2013 and 6.7 percent in 2014, and expect fourth-quarter GDP growth to…

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