MANILA, Philippines — The Securities and Exchange Commission (SEC) is stepping up efforts to combat money laundering by requiring more transparency in the identity of shareholders in corporations. The SEC is putting in place a number of measures that will prevent corporations from concealing the identity of their owners. These measures will make it difficult […]
Read MoreMANILA, Philippines — Philippine banks are set to implement the acquirer-based fees for ATM transactions starting April, resulting in higher charges for cardholders who transact in the network of other banks. The local banking industry is set to implement the acquirer-based ATM fee charging (ABFC) method starting April 7, wherein the fees charged to a […]
Read MoreMANILA, Philippines — A persistently higher inflation may put the global economy and markets under grave danger, according to Singapore-based DBS Bank Ltd. In a report, Taimur Baig, chief economist for Asia at DBS, said the global financial stability may be at risk if inflation were to rise persistently. Baig said a likely demand spurt […]
Read MoreMANILA, Philippines — The spike in inflation in January made it likely that the Bangko Sentral ng Pilipinas might take a pause in its easing cycle but further rate cuts later in the year could still be possible as the economy still needs support, said London-based Capital Economics. In a research brief over the weekend, […]
Read MoreMANILA, Philippines — The Foundation of Economic Freedom (FEF) is pushing for a unified lower tariff for pork imports as it backs the government’s move to bring in more pork at lower taxes to boost inventory. In a letter to Agriculture Secretary William Dar, FEF president Calixto Chikiamco said the government should unify and lower […]
Read MoreMANILA, Philippines (UPDATE 12:35 p.m., Feb. 5) — Prices of basic goods and services rose by their fastest level in 2 years in January, overshooting government expectations as the surge in food costs remained unabated. Inflation, as measured by the consumer price index, accelerated to 4.2% year-on-year, the Philippine Statistics Authority reported on Friday. The rate was […]
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