For clearer view of pandemic impact on banks MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has shortened to end-December the time given to banks to reclassify loans to borrowers as past due and non-performing, to see a clearer picture of the impact of the COVID-19 pandemic on the banking sector. BSP Deputy Governor […]
Read MoreBank Indonesia (BI) is urging commercial banks to cut lending rates and accelerate credit disbursements to lift the economy out of recession as loan channeling shrank for the first time in at least two decades due to weak demand and the banks’ risk aversion. BI Assistant Governor Aida S. Budiman said on Monday that banks […]
Read MoreThe two phases of the co-payment scheme are projected to increase GDP by 0.32 percentage points, causing spending worth 105 billion baht to be injected into the economy. The cabinet on Tuesday approved a 43.13-billion-baht budget to stimulate the economy through extension of the co-payment scheme, which subsidises 50% of food and goods purchased at small […]
Read MoreMANILA, Philippines — Remittances from overseas Filipinos are expected to remain broadly steady this year despite the adverse impact of the coronavirus pandemic on the global economy, according to digital payments provider WorldRemit. Earl Melivo, WorldRemit country director for the Philippines, said the company sees the inflow of remittances to remain “resilient,” with a projected […]
Read MoreUsing environmentally friendly and recycled packaging has become a worldwide trend, forcing packaging manufacturers to adapt. Recycled plastics are gradually replacing regular plastics to deal with the persistent pollution tied to the industry, following policies issued by numerous governments to rein in plastic waste. Notably, in October 2018, the European Parliament approved new EU-wide rules, […]
Read MoreFacebook yesterday held a virtual Asia-Pacific (APAC) media day to discuss how the company has expanded its platforms to aid small and medium businesses through the pandemic. According to the social media giant, which owns the four most-downloaded apps – Facebook, Facebook Messenger, WhatsApp and Instagram – the day aimed to share pathways to economic […]
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