Philippines: Inflation steadies at 1.9% in July Saturday, August 6, 2016 – Consumer prices remained stable with inflation falling below two percent in July due to a productive economy, low oil prices and adequate domestic liquidity. Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said inflation was steady at 1.9 percent in July, the same […]
Read MoreHigher gold hoard, government deposits GIR hits record $85.5 B in July Saturday, August 6, 2016 – The steady increase in the central bank’s gold holdings, as well as deposits by the national government, helped the country’s foreign exchange buffer hit a record level of $85.49 billion in July, the Bangko Sentral ng Pilipinas (BSP) […]
Read MorePhilippines: Philippine central bank fines Rizal Bank over Bangladesh cyber heist failings Friday, 5 August 2016 – The Philippine central bank said on Aug 5 it would fine Rizal Commercial Banking Corp (RCBC) a record 1bil pesos (RM85.98mil), after the bank was used by cyber criminals to channel US$81mil (RM326.50mil) stolen from Bangladesh Bank in […]
Read MorePhilippines: Philippines bank challenges Bangladesh Bank to sue over heist Friday, 5 August 2016 – A Philippines bank that was used as a conduit by cyber criminals to transfer US$81mil (RM326.21mil) from the Bangladesh central bank’s account at the Federal Reserve Bank of New York on Aug 5 challenged Bangladesh Bank to take it to […]
Read MorePhilippines: Weak peso in Q1 pulls down debt prepayments Friday, 8 July 2016 – Debt prepayments by both public and private borrowers were lower in the first quarter of this year, according to Bangko Sentral ng Pilipinas (BSP) data.The reason for it seems to be the relatively weak state of the peso in the first […]
Read MorePhilippines: Govt moves to reduce trade barriers Friday, 8 July 2016 – THE government is taking steps to reduce bureaucratic measures and regulations—also known as non-tariff measures (NTMs)—that serve as barriers to Philippine trade.In a statement, Trade Undersecretary Nora K. Terrado said the Department of Trade and Industry (DTI) is now pushing for “legislative priorities” […]
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