THE Bangko Sentral ng Pilipinas (BSP) has published a list of recommended countermeasures to cyber fraud and attacks on retail electronic payments and financial services or EPFS. BSP Deputy Governor Chuchi Fonacier said in a memorandum she signed last March 22 that as financial transactions progressively transition to electronic or digital channels, attacks on retail […]
Read MoreMANILA, Philippines — The exposure of Philippine banks and trust entities to the volatile property segment further increased to 22.1 percent last year from 21.55 percent in 2020, while the industry’s non-performing loan (NPL) ratio to the sector almost hit five percent. Data from the Bangko Sentral ng Pilipinas (BSP) showed the real estate exposure […]
Read MoreMANILA, Philippines — Global metals and mining prices are expected to increase largely due to higher post-pandemic demand, tight markets, and short-term supply disruptions, particularly due to the Russia-Ukraine conflict, according to Fitch Rating. In its latest commentary, Fitch Ratings raised its price assumptions for metals and mining commodities for 2022 until 2025. While most […]
Read MoreMANILA, Philippines — Global banking giant Citi and Japan’s Nomura slashed their gross domestic product (GDP) growth forecasts for the Philippines as soaring global oil prices from Russia’s invasion of Ukraine may dampen consumption. Nalin Tutchotitham, economist for the Philippines at Citi, said the GDP growth, current account balance and inflation forecasts for the Philippines […]
Read MoreMANILA, Philippines — Cargo shipping rates are set to increase by an average of 25 percent, as ship owners seek to cushion the impact of soaring fuel prices on their operations. In an interview on dzBB, Philippine Liner Shipping Association (PLSA) president Mark Matthew Parco said the planned rate increase would not require approval from the […]
Read MoreMANILA, Philippines — Philippine banks continue to gear up for the interest rate increase by the US Federal Reserve, the ongoing Ukraine-Russia war, rising global inflation and the impact of the May 9 elections. Antonio Moncupa Jr., newly elected president of the Bankers Association of the Philippines (BAP), said member banks are working closely with […]
Read More
Thailand
