Executive Secretary Ralph G. Recto is set to recommend his successor as the government’s representative on the powerful seven-member Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP), naming newly appointed Finance Secretary Frederick D. Go for the influential post. Recto, who...
As he marked the beginning of the Christmas season during the annual Christmas tree lighting ceremony in Malacañan, President Marcos encouraged Filipinos to take a little time off during the Christmas season and come back with new ideas and new blood. "[T]his is the time for us to take that time...
The interagency Financial Stability Coordination Council (FSCC) is working to establish standardized rules for bond pricing as part of a push to refine open capital market operations. “As part of its capital market development efforts, the FSCC is working to establish a standardized bond pricing...
The late Juan Ponce Enrile, former defense minister, Senate President, and Chief Presidential Legal Counsel, was laid to rest at the Libingan ng Mga Bayani in Taguig City on Saturday, Nov. 22. Department of National Defense (DND) Secretary Gilberto Teodoro Jr. joined Enrile’s daughter and son,...
Metropolitan Bank & Trust Co. (Metrobank) has rolled out its integrated withdrawal and deposit machines (WDMs) to boost transaction efficiency and expand its “phygital” footprint in the country. In a statement, Metrobank, said the new self-service terminals, which fuse two primary banking...
The Department of Social Welfare and Development (DSWD) on Wednesday, Nov. 19, launched the “Panahon ng Pagkilos: Philippine Community Resilience Project (PCRP),” a new community-driven development initiative that will serve as the successor to the long-running Kapit Bisig Laban sa...
The Bangko Sentral ng Pilipinas (BSP) is expected to deliver a quarter-point interest rate cut next month, but an economist warned the move would not restore lost government credibility or offset the impact of corruption amid expectations of further economic slowdown. Union Bank of the Philippines...
The total resources of the Philippine financial system soared to a record ₱35.58 trillion in the first nine months of the year, driven by the recent lowering of key borrowing costs. According to preliminary data from the Bangko Sentral ng Pilipinas (BSP), the increase of ₱2.18 trillion, or 6.5...
The Philippine gaming sector’s high-speed growth was decelerated sharply in the third quarter, with industry-wide gaming revenue (GGR) plateauing at ₱94.51 billion, a nominal decline from ₱94.61 billion a year earlier. In a statement on Tuesday, Nov. 11, Alejandro H. Tengco, Pagcor chairman...
The local banking industry’s total earnings climbed in the first three quarters of the year, driven by the sharp increase in income generated from both core lending activities and fee-based businesses, despite higher provisioning for future losses. Data from the Bangko Sentral ng Pilipinas (BSP)...
Sluggish Philippine economic growth, compounded by a wider trade deficit and a less interventionist Bangko Sentral ng Pilipinas (BSP), is expected to weigh on the peso’s recovery, potentially overriding the lift from expected easing of United States (US) interest rates. Dutch financial firm ING...
Fresh highs in gold reserves pushed the Philippines’ gross international reserves (GIR)—the country’s stock of United States (US) dollars and other foreign currencies—to its highest level in one year, its strongest since October 2024. Preliminary data from the Bangko Sentral ng Pilipinas...
