MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) will closely monitor the operations of licensed operators, as well as their compliance with rules and regulations to ensure the safety, efficiency and reliability of the payment system in the country. The regulator issued Memorandum 2021 045 requiring registered non-bank operators of payment systems (OPS) using […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may tolerate the weakening of the peso against the dollar to boost the competitiveness of exporters as the country continues to struggle to curb the spread of COVID-19, according to Fitch Solutions Country Risk & Industry Research. The local currency has depreciated by 4.7 percent since […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects the third quarter economic performance to take a hit from the revert to lockdown in select areas. In an economic bulletin, Finance Undersecretary and chief economist Gil Beltran admitted that the 11.8 percent gross domestic product growth in the second quarter was mainly due to a […]
Read MoreMANILA, Philippines — Stock investors are likely to weigh whether to take advantage of falling prices or hold off purchases as uncertainties over the health crisis continue to take their toll on the economy. While there may be some bargain hunting in the early part of this week following last week’s steep drop, investors are […]
Read MoreMANILA, Philippines — The government hiked its debt payments in the first semester by more than 41 percent to P774 billion due to double-digit increases in interest payments and amortization. According to the Bureau of the Treasury, debt servicing in the first half went up by 41.37 percent to P773.78 billion from P547.34 billion during […]
Read MoreMANILA, Philippines — The stricter lockdown measures aimed to slow the spread of the more infectious COVID Delta variant pose serious challenges to the economy and the labor market, a Department of Finance official said. Finance Undersecretary and chief economist Gil Beltran said the imposition of enhanced community quarantine (ECQ) in the National Capital Region […]
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