MANILA, Philippines — More foreign capital went out of the Philippines for a second consecutive month, reflecting market jitters stoked by rising inflation and a weaker peso, the Bangko Sentral ng Pilipinas reported on Thursday. Registered foreign portfolio investments, also known as “hot money” for their volatility, recorded a net outflow of $516 million in […]
Read MoreMANILA, Philippines — Global tech parts giant Cal-Comp Technology (Philippines) Inc. is spending the proceeds of its planned P6.77 billion initial public offering to expand its operations, acquire new equipment, and focus on research and development as it grooms the country as its next hub in Southeast Asia. New Kinpo Group chief executive officer Simon […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is urging correspondent banks to embrace innovation and rethink strategies as the rapid evolution of digital technology continued to revolutionize financial product and banking service delivery. In his keynote address at the annual convention of the Association of Philippine Correspondent Bank Officers, BSP Governor Nestor Espenilla […]
Read MoreMANILA, Philippines — A total of 52.8 million Filipino adults do not have bank accounts amid the heightened efforts of the Bangko Sentral ng Pilipinas (BSP) to promote financial inclusion. Results of the BSP’s 2017 Financial Inclusion Survey (FIS) show 60 percent of the respondents reported not having enough money as the main reason for […]
Read MoreMANILA, Philippines — Foreign direct investments (FDI) continued to flow into the country, growing 24 percent in the first four months of the year amid favorable investor sentiment on the back of sound macroeconomic fundamentals and growth prospects. The Bangko Sentral ng Pilipinas (BSP) said FDI inflows amounted to $3.2 billion from January to April […]
Read MoreMANILA, Philippines — The rise of various digital platforms is preparing the country for a financial services revolution leading to inclusion, G-Exchange Inc. president Albert Tinio said. “Filipinos have come of age and are ready to take the next step forward. We are world leaders when it comes to social media and we are very […]
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