MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is pursuing bolder moves such as deeper rate cuts and further lowering of the reserve requirement ratio of banks as authorities eye a soft landing from the serious repercussions of the unprecedented crisis brought about by the coronavirus disease 2019 or COVID-19 pandemic on the Philippine […]
Read MoreMore than 610,000 people who registered for the 5,000 baht cash handout granted by the government to ease the impact of the Covid-19 have cancelled their registrations out of fear they will face legal action for providing fake information. Charnkrit Dejvitak, an assistant attached to the PM’s Office, said the Finance Ministry on April 4 […]
Read MoreMANILA, Philippines — The Philippines is among the countries in the Asia-Pacific region that will struggle to recover from the pandemic later this year, according to IHS Markit. In its Week Ahead report, the market intelligence service firm said the coronavirus disease 2019 or COVID-19 pandemic is so far shaping up to be the “most […]
Read MoreMicrofinance and other non-bank financial institutions have been instructed to provide repayment relief to their borrowers as most consist of low-income workers who could be hit by the economic fallout of COVID-19. The Ministry of Planning and Finance’s Microfinance Business Supervisory Committee said on April 6 that neither principal nor interest should be collected “with force”. […]
Read MoreHANOI Experts have warned that consumers may soon start defaulting on their credit card payments due to rising unemployment and salary cuts in many industries and sectors in the wake of the COVID-19 outbreak. According to the latest report on labour and employment amid the COVID-19 pandemic, the Ministry of Labour, Invalids and Social Affairs said the number of […]
Read MoreThe Philippines should gradually reopen the economy and allow businesses to operate at 50 percent capacity to protect jobs, according to Teresita Sy-Coson who helps run an empire from banking to retail under SM Investments Corp. “If all the industries can start operating 50 percent, including the transport, with all the medical precaution like making […]
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