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Philippines: Measures vs retail cyberattacks out

THE Bangko Sentral ng Pilipinas (BSP) has published a list of recommended countermeasures to cyber fraud and attacks on retail electronic payments and financial services or EPFS. BSP Deputy Governor Chuchi Fonacier said in a memorandum she signed last March 22 that as financial transactions progressively transition to electronic or digital channels, attacks on retail […]

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Real estate exposure of Philippine banks hits 22.1%

MANILA, Philippines — The exposure of Philippine banks and trust entities to the volatile property segment further increased to 22.1 percent last year from 21.55 percent in 2020, while the industry’s non-performing loan (NPL) ratio to the sector almost hit five percent. Data from the Bangko Sentral ng Pilipinas (BSP) showed the real estate exposure […]

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Philippines: Higher global metal prices seen

MANILA, Philippines — Global metals and mining prices are expected to increase largely due to higher post-pandemic demand, tight markets, and short-term supply disruptions, particularly due to the Russia-Ukraine conflict, according to Fitch Rating. In its latest commentary, Fitch Ratings raised its price assumptions for metals and mining commodities for 2022 until 2025. While most […]

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Citi, Nomura cut Philippine GDP growth forecasts

MANILA, Philippines — Global banking giant Citi and Japan’s Nomura slashed their gross domestic product (GDP) growth forecasts for the Philippines as soaring global oil prices from Russia’s invasion of Ukraine may dampen consumption. Nalin Tutchotitham, economist for the Philippines at Citi, said the GDP growth, current account balance and inflation forecasts for the Philippines […]

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