MANILA, Philippines — Consumer complaints about failure to avail of banking services, accrued interest as well as questions on suspension of loan payments, rose during the Luzon-wide enhanced community quarantine, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the BSP’s Consumer Assistance Mechanism (CAM) received 21,913 complaints through electronic mails from […]
Read MoreMANILA, Philippines — More than a fifth of overseas Filipino workers (OFWs) are seen to lose their jobs this year, while new deployment would nearly grind to a halt in an unprecedented shock from the coronavirus to the Philippines’ economic lifeline. To date, Labor Undersecretary Claro Arellano told a congressional hearing 302,216 migrant workers had […]
Read MoreMANILA, Philippines — Flag carrier Philippine Airlines (PAL) is not in immediate danger of bankruptcy, but may be forced to lay off more employees depending on how its recovery goes once commercial flights are allowed to resume. PAL president and COO Gilbert Santa Maria in an ANC interview yesterday said revenue losses of the company […]
Read MoreMANILA, Philippines — Foreign tourist arrivals fell by more than half in the first four months of the year as the coronavirus outbreak and state-initiated lockdowns continue to crimp travel and tourism at home and abroad. At Wednesday’s Senate hearing tackling the government’s response to the pandemic, Tourism Secretary Bernadette Romulo-Puyat said international visitor arrivals from January […]
Read MoreMANILA, Philippines — The share of the country’s debt to its gross domestic product (GDP) slightly eased to 41.8 percent in the first quarter, but may increase by the end of the year as the government continues its fight against the coronavirus disease 2019 or COVID-19 pandemic. In his latest economic bulletin, Finance Undersecretary and […]
Read MoreMANILA, Philippines — Financial technology (fintech) companies are crucial in helping the government shape and rebuild a new economy after the coronavirus disease 2019 or COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP). In his keynote address titled “Pump-priming a digital economy post COVID-19,” BSP Governor Benjamin Diokno said the central bank has […]
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