The Bangko Sentral ng Pilipinas (BSP) is expected to extend its monetary tightening cycle to a peak of 5.5 percent, according to Goldman Sachs Group Inc., as sticky underlying price pressures overshadow the recent cooldown in headline inflation. While headline inflation decelerated to 6.4 percent...
Local stocks snapped a six-day winning streak, retreating as a flare-up in geopolitical tensions between the United States (US) and Iran prompted investors to lock in profits following the weeklong rally. The Philippine Stock Exchange index (PSEi) fell 51.9 points, or 0.83 percent, to close at...
Local equities rose for a sixth consecutive day as heavy buying in port operator International Container Terminal Services Inc. (ICTSI) countered afternoon profit-taking triggered by escalating tensions in the Middle East. The Philippine Stock Exchange index (PSEi) advanced 28.66 points, or 0.46...
Malacañang has expressed hope that more banks would follow the lead of the state-run Land Bank of the Philippines (LandBank) in reducing or eliminating digital fund transfer fees to ease the burden on ordinary Filipinos. In a press briefing on Monday, July 6, Presidential Communications Office...
The Department of Agriculture (DA) is banking on the creation of a private sector-led export group to help the government harmonize standards for ube (purple yam), helping the local sector capitalize on the commodity’s growing global appeal. DA-Bureau of Plant Industry (BPI) Director Gerald Glenn...
The Bangko Sentral ng Pilipinas (BSP) is delaying the selection of four new digital banking players as it seeks to reconcile conflicting regulatory tracks for different types of applicants. While the market anticipated the entry of the new digital lenders as early as the first quarter, BSP Governor...
The Bureau of Plant Industry (BPI) expects the United States (US) government to soon grant its request for expanded market access for fresh pineapple exports, as it works to widen the reach of homegrown commodities. BPI Director Gerald Glenn Panganiban said he is “hopeful” that the US Animal...
Bangko Sentral ng Pilipinas Governor (BSP) Eli Remolona Jr. expects a broader wave of lenders to slash or eliminate fund transfer costs, following aggressive fee waivers by some of the country’s largest banking institutions ahead of a strict weekend regulatory deadline. Speaking at a BSP book...
Department of Finance (DOF) Secretary and Land Bank of the Philippines (Landbank) Chairman Frederick D. Go has praised the move by Ayala-led Bank of the Philippine Islands (BPI) to waive electronic fund transfer fees across its digital channels, describing it as a step toward eliminating banking...
Ayala-led Bank of the Philippine Islands (BPI) will permanently eliminate transaction fees for digital fund transfers via InstaPay and PESONet starting July 1, following the central bank 's lifting of its cap on electronic payment pricing. The oldest lender in the Philippines is moving to...
BPI Wealth, the wealth management arm of Ayala-led Bank of the Philippine Islands, is launching peso-denominated share classes for two of its major global investment funds to capture retail interest in the artificial intelligence (AI) and technology rally currently driving United States (US) equity...
The Bangko Sentral ng Pilipinas (BSP) will look into the recent digital banking outage of the Bank of the Philippine Islands ' (BPI), and will impose accountability. What Happened BPI first flagged trouble with its systems through an advisory issued Sunday afternoon, June 14, warning customers...
