MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has tightened the rules on management contracts, outsourcing, and information technology (IT) risk management. BSP Governor Benjamin Diokno said the Monetary Board issued Resolution 190 on Feb. 10 approving the amendments to regulations on outsourcing and IT risk management. Under the new rules contained in Circular […]
Read MoreMANILA, Philippines — The country’s balance of payments (BOP) position recorded a deficit of $102 million in January, ending three straight months of surpluses, as more foreign exchange flowed out of the country to pay the government’s maturing foreign debt, according to the Bangko Sentral ng Pilipinas (BSP). Last month’s BOP shortfall was a complete […]
Read MoreMANILA, Philippines — Sen. Grace Poe on Friday has asked for the help of the Central Bank to urge banks to lower digital charges and e-wallet fees, citing that many Filipinos using these services have yet to find jobs amid the pandemic. “I am calling on the Bangko Sentral ng Pilipinas (BSP) to urge banks […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) left interest rates untouched yesterday, as widely expected, but the window for accommodation to support sustained economic recovery is closing fast as authorities flagged inflation risks due to possible second round effects from rising global oil prices. BSP Governor Benjamin Diokno said in a virtual press […]
Read MoreMANILA, Philippines — Metro Manila could be heading to another water supply shortage as the dry season approaches, and both utility companies and the government are pulling out all the stops to avert another water crisis of the same scale as the one that hit the capital three years ago. The National Water Resources Board […]
Read MoreMANILA, Philippines — Investments approved by the Philippine Economic Zone Authority (PEZA) fell by 69 percent in January from a year ago amid challenges from the ongoing pandemic. “For the month of January 2022, the PEZA board approved nine new and expansion projects with P3.48 billion of investments,” PEZA said in a statement yesterday. In […]
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