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Philippines: Electronics exports on the rebound

MANILA, Philippines — The electronics sector, the country’s top exporter, will continue to record strong gains for the remaining months of the year despite global supply chain disruptions. In its weekly economic preview, market intelligence firm IHS Markit said global demand for electronic products has been strongly rebounding from its lows last year and the […]

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Cambodia: Digital currencies would cut bank fees, commissions, warns top investor service

Cambodia may be wise to avoid a central bank digital currency (CBDC) because it may reduce revenue. Moody’s Investors Service says widespread adoption of CBDCs would be credit-negative for banks because of lower fees and commissions, especially for lenders that are active in foreign currency payments, clearing and remittances. Figures from consultancy McKinsey show that […]

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Philippines: SEC warns public vs dealing with unregistered foreign firms

MANILA, Philippine — Corporate regulators warned the public against conducting business with unregistered foreign companies and entities to avoid losing their earnings. In a statement on Monday, the Securities and Exchange Commission cautioned that by dealing with these unregistered and unlicensed entities, the public runs the risk of losing their money once it’s transmitted outside the […]

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IMF allocations boost Philippines’ foreign reserves in August

MANILA, Philippines — The Philippines’ foreign reserves rose in August, boosted by new Special Drawing Rights (SDRs) from the International Monetary Fund. What’s new Gross international reserves settled at $108.05 billion as of end-August, up 0.84% month-on-month, the Bangko Sentral ng Pilipinas reported on Monday. Why this matters Foreign reserves are investments in gold and foreign […]

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