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The stock rights offering of Aboitiz-led Union Bank of the Philippines is set to kick off this month to raise as much as P40 billion to partially fund the acquisition of the consumer lending business of global banking giant Citigroup in the country. ....
(As released) The country performed better than expected in 2021. The national income accounts (NIA) show that the economy grew by 7.7%, higher than the median outlook of 6.5%. ....
MANILA - Most private sector institutions have overshot their September 2021 inflation forecasts, with their median projection at 5 percent, or higher than the actual headline inflation rate of 4.8 percent for the period. Based on a newspaper poll, the Department of Finance (DOF) said only John Paolo Rivera of the Asian Institute of Management (AIM), and Emmanuel Lopez of the Colegio de San Juan de Letran, projected a lower rate of 4.5 percent and 4.7 percent, respectively, while 15 others placed their forecasts between 4.9 and 5.2 percent. Standard Chartered economist Jonathan Koh, and Citi's Nalin Chutchotitham, predicted the September inflation rate to be at 4.9 percent. Philippine National Bank (PNB) vice president and head of Equity Research Division Alvin Joseph Arogo, Sun Life Financial (SunLife)'s Patrick Ella, ING Bank NV Manila senior economist Nicholas Antonio Mapa, Ateneo de Manila University (ADMU) economist Ser Percival Pena-Reyes, Rizal Commercial Banking Corp. ( ....