Cash sent home by overseas Filipinos slipped to $2.98 billion in August from July’s seven-month peak, but the seasonal remittance surge in the fourth quarter is expected to lift inflows for the rest of the year. According to the Bangko Sentral ng Pilipinas (BSP), total cash remittances in August...
Washington-based International Monetary Fund (IMF) expects the Philippines’ current account deficit to widen by end-2025 and remain elevated through 2026. According to the latest issue of the World Economic Outlook (WEO), published on Tuesday, Oct. 14, the IMF has forecast the Philippines’...
While the Bangko Sentral ng Pilipinas (BSP) moves to ramp up its anti-money laundering system, the central bank chief said the ₱500,000 cash withdrawal limit has so far been a “very effective” measure. “I think it’s very effective so far. As best we can tell, it’s a very effective...
The Bangko Sentral ng Pilipinas (BSP) reported a ₱16 billion decline in net profit in the first seven months of the year, as single-digit drop in expenses was outweighed by the double-digit fall in revenues. Data from the BSP showed that the central bank’s net income fell by 16.8 percent to...
Philippine banks’ bad loan ratio climbed further to 3.5 percent in the first nine months as borrowers’ ability to repay debts weakened due to muted business activities, mainly from climate disruptions and trade setbacks. According to the latest data from the Bangko Sentral ng Pilipinas (BSP),...
President Marcos has encouraged barangay officials to undergo leadership training, stressing the important role of village leaders in local governance. During his meeting with Liga ng mga Barangay (LnB) officials, Marcos discussed several ways to improve barangay governance. He emphasized proposals...
Foreign financial giants and a think tank expect the Bangko Sentral ng Pilipinas (BSP) to further reduce key borrowing costs to 4.5 percent by year-end following the central bank’s shift to more dovish tone. Netherlands-based financial giant ING has flagged risks that could slow growth from the...
Net inflows of brick-and-mortar foreign direct investments (FDI) in the Philippines rebounded in July to a one-year high of $1.27 billion, recovering from a six-month low in June. Despite this record, net FDI inflows declined by 7.5 percent from $1.37 billion in July last year, according to...
Cinemalaya is just about ready to wrap up and has had quite a successful run. Its 10 feature-length films and 10 short films each had their time to shine throughout the week in participating venues (Shangri-la Plaza, Gateway Mall, and select Ayala Malls). Here’s a quick recap on how we felt about...
Due to the pessimistic outlook from businesses related to flood control concerns, the Bangko Sentral ng Pilipinas (BSP) has lowered its growth projection for next year to 5.3 percent, which is below the reduced target of six to seven percent. BSP Governor Eli M. Remolona Jr. revealed in a One News...
In no uncertain terms, the state-controlled Land Bank of the Philippines debunked any irregularities regarding the release of millions of pesos meant to fund flood control projects, which were instead allegedly pocketed by private and public, elected and appointed, individuals. As a significant...
Even as the Philippine peso faces pressure from foreign fund outflows, the Bangko Sentral ng Pilipinas (BSP) refuses to defend the local currency unless its depreciation could lead to higher consumer prices. According to the Bankers Association of the Philippines (BAP), the peso weakened by 28.5...
