MANILA, Philippines — The Philippines has the fourth worst pension system among 39 countries, according to a study which benchmarks retirement income systems across the globe. Based on the 2020 Mercer CFA Institute Global Pension Index, the Philippines’ retirement system ranked 36th out of 39 countries, with an overall index value of 43. The country’s […]
Read MoreMANILA, Philippines — Big banks in the Philippines need to hold off online rivals as the Bangko Sentral ng Pilipinas (BSP) is set to issue the guidelines for digital banks within the year, according to S&P Global Ratings. The debt watcher said established banks have to make aggressive moves to counter the rising market penetration […]
Read MoreMANILA, Philippines — Philippine banks have sufficient buffers to survive the impact of the COVID-19 pandemic on the economy, according to the Bangko Sentral ng Pilipinas (BSP). In a virtual sovereign investor forum organized by Standard Chartered Bank, BSP Governor Benjamin Diokno said the banking industry’s capital adequacy ratio (CAR) stood at 15.3 percent on […]
Read MoreMANILA, Philippines — Lawmakers called on the Department of Agriculture anew to stop issuing rice import permits during harvest season to avoid a further drop in palay (unhusked rice) farmgate prices. During the DA’s 2021 budget hearing Monday, senators made a general manifestation asking the DA not to issue permits for certain commodities, including rice, […]
Read MoreMANILA, Philippines — The Philippines is finally requiring all catcher vessels to have a monitoring system as it intensifies measures against illegal, unreported, and unregulated fishing (IUUF) in the country’s marine grounds. The Department of Agriculture recently issued Fissheries Administrative Order 260 which requires all Philippine catcher vessels to install vessel monitoring measures (VMM) and […]
Read MoreMANILA, Philippines — Local and foreign companies, including the MVP Group’s PXP Energy and Dennis Uy’s Udenna Group, are eager to explore for oil and gas in the West Philippine Sea following the lifting of the moratorium on drilling activities in the disputed area, according to Energy Secretary Alfonso Cusi. The Duterte administration’s announcement has […]
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