While the Philippine Stock Exchange (PSE) had originally aimed to add 10 initial public offerings (IPOs) over the course of 2016, by year’s end just four had been issued, valued at a combined P49.37bn ($1.04bn) including follow-ons and secondary offerings. Although the IPO market was fairly subdued overall, with many of the sales priced lower...
The Philippine banking system has been performing relatively well in recent years. Given the country’s strong economic growth, the sound regulation of the sector by the central bank and the global push towards increasing capital, the local institutions have been safe, sound and profitable. Major metrics are moving generally in the right...
The Philippines is keen to boost foreign direct investment (FDI) inflows in the wake of robust macroeconomic growth, aiming to catch up to its regional neighbours by enacting legal, economic and tax reforms that should see new investment in the country take off. While some of these reforms have been delayed, revisions to the country’s Foreign...
The heist was audacious, complex and surprisingly successful. In early 2016 an attempt was made to steal almost $1bn of Bangladesh central bank money held at the US Federal Reserve via a Philippine bank, a Philippine remittance company and Philippine casinos. The theft, in which $81m was taken from the account, has significant implications...
The Philippines has undertaken a wide range of banking reforms in recent decades, and the efforts have contributed to making the sector sound, stable and resilient. The one lingering issue has been foreign participation. For years the authorities offered only conditional access. In 2014 the doors were finally opened.
Strong macroeconomic expansion, rising consumer incomes and soaring import demand has kept trade volumes in the Philippines on a consistent upwards trajectory over the past decade. However, the country remains in trade deficit, with exports faltering in recent years as a result of external challenges such as low global commodity prices;...
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