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The Place at Sayreville will help borough meet affordable housing obligations
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S&P sees PHL economy growing by 6% this year
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Reporter
PHILIPPINE BANKS appear better positioned to weather the surge in soured loans than Southeast Asian peers, but sluggish economic growth could dampen the sector’s recovery this year, S&P Global Ratings said.
“We have a negative outlook on the Philippine banking sector, that means there is a one-third chance that the rating can be downgraded in 1.5 to two years, so clearly that there are risks,” Ivan Tan, director at the financial institutions ratings of S&P, told a webinar on Wednesday.
The credit rater gave a “negative” outlook on the Philippines’ rated banks on expectations that existing financial buffers may not be enough to absorb the fast deterioration of asset quality, if economic recovery is delayed.
Council president wants to âkeep Sayreville progressingâ
Council president wants to âkeep Sayreville progressingâ
Council members held their annual reorganization meeting on Jan. 4.
As part of the meeting, incumbent council members Mary Novak and Vincent Conti were sworn in to serve three-year council terms after winning the November election. Novak has been a member of the council since 2012, previously serving from 1995 to 2000, and Conti has been a member since 2020.
Due to the ongoing coronavirus pandemic, Conti and Novak were the only members of the governing body physically present at the meeting. The other members attended the meeting remotely.
After all the council members were seated, Dalina was elected to serve as council president in an unanimous vote by Conti, Novak, Damon Enriquez, Michele Maher, Donna Roberts and himself. Dalina has been a member of the Borough Council since 2019.