To ensure stability of the financial system, the Bangko Sentral ng Pilipinas (BSP) is adopting stronger cybersecurity and digital financial supervision to support the digital transformation of all BSP-supervised financial institutions (BSFIs). “The COVID-19 pandemic has magnified our reliance on...
Why financial preparedness is vital to preparing for the inevitable Remember those days when during unplanned family reunions because of a sudden death in the family, that death itself would be the main topic? Think how many times when family members would identify and make count of those...
The local stock market surged at the start of the US elections as investors look forward to an end in the guessing game over who will lead the world’s most influential economy in the next four years. The PSEi rose 128.49 points or 2.03 percent to close at 6,464.05 as share prices rose...
All eyes will be on the outcome of the US elections this week while third quarter earnings and lingering concern over COVID-19 will provide cues at the local front. Traders work beneath an electronic ticker at the trading floor of the Philippine Stock Exchange in Bonifacio Global City...
As many as 496 employees at the Didipio gold and copper mine have lost their jobs during the first round of permanent layoff conducted by Australian-Canadian miner OceanaGold Corporation (OceanaGold). Along with the termination of direct employees, approximately 400 people working with...
The country’s international investment position (IIP) registered a higher net liability position of $15 billion in the second quarter or up by 45.5 percent compared to $10.3 billion in the first quarter this year, the Bangko Sentral ng Pilipinas (BSP) said. The BSP said this is because the total...
The local economy’s external exposure as net external liability position was better in the last quarter of 2019 at P1.7 trillion or 24 percent lower than P2.2 trillion in 2018, the Bangko Sentral ng Pilipinas (BSP) said in its first Philippine Balance Sheet Approach (BSA) report. The BSP said the...
From its original request of a P280-billion annual budget for next year, the Department of Agriculture (DA) may only end up with P129 billion for 2021, already including the portion of the stimulus package it has been requesting supposedly for this year. Agriculture Secretary William Dar...
The Bureau of Internal Revenue (BIR) assured lawmakers of its full support for the proposed measure allowing banks to dispose their bad loans and other non-performing assets (NPAs) through asset management companies. BIR Commissioner Caesar Dulay gave this assurance during a recent joint hearing of...
Stock market investors are seen to remain cautious this week and will be looking to the US Federal Reserve’s meeting for cues on whether to buy into the market or wait for more catalysts. Online brokerage firm 2TradeAsia.com said results of the Fed’s first convening will be announced on...
