MANILA, Philippines — More Philippine banks are helping ease the burden of Filipinos working and living abroad affected by the coronavirus disease 2019 or COVID-19 pandemic by waiving transaction fees for remittances. For one, Philippine National Bank has extended the waiver on remittance fees for various channels up to May 31 after it lapsed on […]
Read MoreFirst time in 15 years MANILA, Philippines — The Philippines suffered a setback as it received its first credit rating downgrade in 15 years after New York- based Fitch Ratings lowered the country’s credit outlook to stable from positive due to the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic. Fitch said the […]
Read MoreMANILA, Philippines — The number of international visitor arrivals is projected to further decline by up to 78 percent this year due to the coronavirus disease or COVID-19 pandemic as arrivals already fell 22 percent in the first quarter, the United Nations World Tourism Organization (UNWTO) said. Data from the UNWTO World Tourism Barometer show […]
Read MoreMANILA, Philippines — The Philippines booked the biggest outflow in foreign portfolio investments in more than six years as global investors avoided the country while others cashed in on their holdings due to the coronavirus disease 2019 or COVID-19 pandemic. Data released by the Bangko Sentral ng Pilipinas (BSP) showed the country recorded a net […]
Read MoreMANILA, Philippines — The Securities and Exchange Commission (SEC) has noticed a continued spike in the proliferation of investment scams amid the coronavirus disease 2019 or COVID-19 pandemic. In separate advisories issued on May 5, the SEC identified five more groups engaged in investment-solicitation activities without the necessary license. These are CryptoInvestWith.Us (CIW.U); Won Project/ […]
Read MoreMANILA, Philippines — The economy may contract further in the second quarter due to the coronavirus disease 209 or COVID-19 outbreak, according to Finance Secretary Carlos Dominguez. In a statement, Dominguez said the economy may head deeper into the negative territory in the second quarter after contracting by 0.2 percent in the first quarter. Dominguez, […]
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