The Philippines saw a significant 29.6 percent drop in foreign direct investment (FDI) with net inflows of $655 million in October 2023 from the $930 million net inflows registered in the same month in 2022. The October figure has brought cumulative net FDI inflows for the period...
The gross non-performing loans (NPL) ratio of Philippine banks dropped to 3.41 percent in November 2023 after rising to 3.44 percent in the previous month. Bangko Sentral ng Pilipinas (BSP) data show, though that the latest NPL ratio is higher compared to the 3.35 percent registered in the...
The Bangko Sentral ng Pilipinas (BSP) has included OmniPay, Inc. in the roster of financial institutions that settle high value transactions safely and instantly through the BSP-owned and operated PhilPaSSplus. In a statement, the BSP said OmniPay, Inc. became the first non-bank electronic...
The Bangko Sentral ng Pilipinas (BSP) has further reduced the rates on its peso rediscounting facility effective Jan. 9, 2024. Rediscounting is a BSP credit facility extended to qualified banks with active rediscounting lines. The facility helps banks meet their temporary liquidity needs by...
BSP forges partnership with BAIPHIL By JAMES A. LOYOLA The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) have formalized their longstanding partnership with the signing of a memorandum of understanding (MOU). “The collaboration of BSP and BAIPHIL will go...
The Financial Stability Coordination Council (FSCC), which is led by the Bangko Sentral ng Pilipinas (BSP), is placing the strengthening the Philippine corporate bond market high on its list of priorities for 2024. The FSCC includes the Department of Finance, the Insurance Commission, the...
Instead of the anticipated rollback on prices of some petroleum commodities this week, the oil companies have implemented slight increase in prices at the pumps due to higher freight cost and market premium, according to the industry players. With the added factors cited, the oil firms have...
Two of the country’s top businessmen and sports patrons stand side by side in the coming San Miguel Corporation-Philippine Sportswriters Association (SMC-PSA) Annual Awards Night. San Miguel CEO and President Ramon S. Ang along with First Pacific Company Chairman and CEO Manny V. Pangilinan...
As his administration strives for a “Bagong Pilipinas (New Philippines),” President Marcos on Saturday, Jan. 6, underscored the involvement of Filipinos in becoming “Bagong Pilipino (New Filipino)” themselves for the nation’s change and development. President Ferdinand 'Bongbong'...
Gilas Pilipinas defied the odds and emerged as one of the most inspiring sports stories of 2023. A hastily formed unit under last-minute, anointed coach Tim Cone went to Hangzhou, China for the 19th Asian Games with nary an expectation given the circumstances and experiences it went through weeks...
Filipino-American player Jordan Clarkson reached a new career milestone after recording his first NBA triple-double in Utah's 127-90 rout of Dallas at Delta Center in Salt Lake City on Tuesday, Jan. 2 (Manila time). Keyonte George celebrates a triple-double by Jordan Clarkson of the Utah Jazz...
EJ Obiena soared to greater heights in 2023. The credentials of the 28-year-old Tondo-born pole vaulter in a 12-month span was indeed impressive, highlighting it by winning golds in three major international tournaments in record-breaking fashion. EJ Obiena celebrates after winning the gold in the...
