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ADB readies 'large assistance package' to support Philippines' coronavirus fight

ABS-CBN News
Posted at Mar 27 03:52 PM

The Asian Development Bank said Friday it would prepare a "large assistance package" to support the Philippines' fight against the coronavirus pandemic.  Read more »

Security Bank suspends select over-the-counter transactions

ABS-CBN News
Posted at Mar 27 03:38 PM

Cash withdrawals of less than P50,000 for ATM cardholders and bills payments over-the-counter will be suspended starting March 30, Security Bank said in a statement.   Read more »

Loan restructuring seen as rescue for small businesses shut by coronavirus

ABS-CBN News
Posted at Mar 24 03:17 PM

Philippine banks are likely to restructure loans to small businesses to help them recover from the coronavirus pandemic when it is over, an economic adviser to President Rodrigo Duterte said Tuesday. Read more »

European Central Bank sees 'considerable decline' in euro area activity

Agence France-Presse
Updated as of Mar 20 08:21 AM

The president of the European Central Bank (ECB) Christine Lagarde said Thursday that the novel coronavirus pandemic would lead to a "considerable decline" in economic activity in the euro area. Read more »

Filinvest group donating P100-M worth of COVID-19 kits, waives rent for mall tenants

ABS-CBN News
Posted at Mar 19 07:23 PM

The Filinvest group on Thursday said it is donating P100 million worth of COVID-19 test kits and personal protective equipment to the Research Institute for Tropical Medicine for medical workers and other frontliners.  Read more »

Philippine banks to ensure cash supply in ATMs, branches during lockdown: BPI

ABS-CBN News
Updated as of Mar 19 09:59 PM

The challenge for Philippine banks with enough cash is bringing them to branches and ATMs during the 1-month Luzon lockdown, Bank of the Philippine Islands said Thursday. Read more »

Bangko Sentral cuts benchmark interest rate in response to COVID-19

ABS-CBN News
Updated as of Mar 19 03:18 PM

The Bangko Sentral ng Pilipinas cut the benchmark interest rate by 50 basis points on Thursday, seeking to defend the economy from the COVID-19 pandemic that plunged the stock market to a record low. Read more »

Bangko Sentral chief Diokno tests negative for COVID-19

ABS-CBN News
Posted at Mar 18 07:39 PM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno is negative for COVID-19, the central bank chief said on Wednesday.  Read more »

World Bank adds $2 billion to coronavirus response funds

Reuters
Posted at Mar 18 10:18 AM

The change will give the World Bank's International Financing Corp a total of $8 billion to support private companies and their employees hurt by economic impacts of the virus, the bank said. Read more »

Gokongwei group readies P100 million fund to help in COVID-19 fight

ABS-CBN News
Updated as of Mar 18 06:57 PM

The P100 million fund was earmarked to support various hospitals fighting the disease and local communities where the conglomerate's businesses operate, the Gokongwei Brothers Foundation said in a statement. Read more »

City bus operators ask banks to defer loan payments amid transport shutdown

ABS-CBN News
Updated as of Mar 17 09:53 PM

Bus operators in Metro Manila asked banks on Tuesday to defer loan payments as the enhanced quarantine imposed over the whole of Luzon because of COVID-19 shut down public transport.    Read more »

LIST: Philippine banks extend loan due dates to help Filipinos cope with COVID-19 lockdown

ABS-CBN News
Updated as of Mar 19 05:55 PM

Major banks in the Philippines have announced a 30-day extension for credit card, mortgage, and loans for eligible customers to help Filipinos during the Luzon-wide COVID-19 lockdown. Read more »

BDO says employee positive for COVID-19

ABS-CBN News
Updated as of Mar 17 09:14 PM

BDO Unibank, Inc. said Tuesday one of its employees tested positive for the coronavirus disease 2019 (COVID-19). Read more »

Philippine banks adjust operating hours during COVID-19 quarantine

ABS-CBN News
Updated as of Mar 20 06:48 PM

Philippine banks adjusted operating hours and other payment guidelines to ensure continued services during the Luzon-wide lockdown to contain the spread of COVID-19. Read more »

To track coronavirus, Israel moves to tap secret trove of cellphone data

David M. Halbfinger, Isabel Kershner and Ronen Bergman, The New York Times
Posted at Mar 17 09:35 AM

JERUSALEM — Prime Minister Benjamin Netanyahu of Israel has authorized the country’s internal security agency to tap into a vast and previously undisclosed trove of cellphone data to retrace the movements of people who have contracted the coronavirus and identify others who should be quarantined because their paths crossed. Read more »

Global central banks pull out all stops as coronavirus paralyses economies

Swati Pandey, Reuters
Posted at Mar 16 05:44 PM

The coordinated response from the Fed to the European Central Bank (ECB) and the Bank of Japan (BOJ) came amid a meltdown in financial markets as investor anxiety deepened over the difficulty of tackling a pathogen that has left thousands dead and put many countries on virtual lockdowns. Read more »

Philippine banks 'business as usual' as nation battles COVID-19

ABS-CBN News
Updated as of Mar 16 10:34 AM

The Philippines' largest lender, BDO Unibank said Monday operations were "business as usual" with Metro Manila under community quarantine and as the nation fights the coronavirus pandemic. Read more »

US Fed slashes key interest rate, rolls out massive response to pandemic

Heather Scott, Agence France-Presse
Posted at Mar 16 06:59 AM

Faced with a growing economic shutdown from the coronavirus pandemic, the US Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to virtually zero.  Read more »

ADB approves $3-M aid in PH’s battle vs coronavirus

ABS-CBN News
Posted at Mar 14 11:03 PM

The ADB will work closely with the Department of Health, the World Health Organization, and other agencies to ensure the delivery of medical supplies. Read more »

ECB pumps up bank lending, bond buys to cushion virus impact

Tom Barfield, Agence France-Presse
Posted at Mar 12 10:26 PM

 The European Central Bank on Thursday followed other major central banks with a flurry of measures to cushion the impact of the coronavirus, including increased bond purchases and cheap loans to banks, but surprised observers by leaving key interest rates unchanged. Read more »