MANILA, Philippines — Despite the calamities being associated with the mining industry, the government continues to move toward the formalization and regulation of the small-scale mining industry to help in economic recovery. In a recent virtual forum, the Mines and Geosciences Bureau (MGB) said it is now crafting amendments to Republic Act 7076 or the […]
Read MoreMANILA, Philippines — Fraudsters are taking advantage of the surge in electronic commerce transactions amid the COVID-19 pandemic, according to FICO, a Silicon Valley-based analytics software firm. Subhashish Bose, FICO head for fraud, security and compliance in Asia Pacific, said fraud challenges are intensifying as e-commerce sales are predicted to jump by at least 20 […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is not alarmed by the steady rise in banks’ bad loans, saying the local banking industry is well prepared for the rise in soured debts amid the coronavirus pandemic. In an interview on ABS-CBN News Channel, BSP Governor Benjamin Diokno said the regulator already anticipated that the […]
Read MoreMANILA, Philippines — More foreign direct investments (FDI) flowed into the country for the fourth straight month in August, surging by 46.9 percent to $637 million on renewed investor confidence despite the raging coronavirus pandemic, according to the Bangko Sentral ng Pilipinas (BSP). The strong performance in August slowed the pace of decline during the […]
Read MoreSlowest in 13 years MANILA, Philippines — Credit growth slumped to its slowest pace in more than 13 years as banks are more cautious because of the growing number of loan defaults despite the regulatory relief measures extended by the Bangko Sentral ng Pilipinas (BSP). Preliminary data from the BSP showed loans extended by big […]
Read MoreMANILA, Philippines — Fitch Solutions Country & Risk Industry Research expects a deeper economic contraction for the Philippines for this year, but expects a stronger rebound next year on the back of supportive fiscal and monetary policy stances. The research arm of the Fitch Group expects the Philippine economy to contract by a deeper 9.6 […]
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