BSP approves regulatory framework for digital banks

BW FILE PHOTO THE MONETARY BOARD has approved a regulatory framework for digital banks, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday. “We see these [digital] banks as additional partners in further promoting market efficiencies and…

‘Hot money’ reverses to net inflow

REUTERS By Luz Wendy T. Noble, Reporter MORE FOREIGN CAPITAL entered than left the country in October to yield a net inflow after seven straight months of outflows, the Bangko Sentral ng Pilipinas (BSP) said on Thursday. Foreign portfolio investments…

Ex-President Arroyo named Duterte adviser

PHILSTAR President Rodrigo R. Duterte has appointed former President Gloria Macapagal-Arroyo as his adviser for projects at the Clark Freeport and Special Economic Zone in Pampanga province. Ms. Arroyo, who also served as Speaker and Pampanga representative until her retirement…

PSEi sinks below 7,000 mark as market corrects

COURTESY OF PHILIPPINE STOCK EXCHANGE, INC. By Denise A. Valdez, Senior Reporter LOCAL SHARES closed lower on Thursday, ending below the 7,000 mark, as investors continued to pocket gains and as global markets weakened overnight. The benchmark Philippine Stock Exchange…

Peso up on ‘hot money’ data

BW FILE PHOTO THE PESO strengthened slightly versus the dollar on Thursday following the release of data showing net hot money inflows in October. The local unit closed at P48.115 versus the dollar on Thursday, rising by 1.5 centavos from…

Retail price growth of construction materials in NCR accelerates

RETAIL price growth of construction materials in Metro Manila accelerated to its highest level in nearly two years in October, according to the Philippine Statistics Authority (PSA). The retail-level index, known as the construction materials retail price index, in the…

Competition commissioner touts red tape reduction as big help to small businesses

PHILSTAR MICRO, small and medium enterprises (MSMEs) will find it easier to do business if they receive efficient services from their regulators, the Philippine Competition Commission (PCC) said on Wednesday. “Many of our MSMEs would stand to benefit more from…

Regional green economy shift valued at $1 trillion every year by 2030

A SHIFT to the green economy by Southeast Asia is projected to be worth about $1 trillion a year by 2030, Bain & Co. said in a report. The valuation takes into account the emergence of new products and sectors…

Gov’t scales back domestic bond program to P120B in Dec.

BW FILE PHOTO THE government plans to borrow P120 billion from domestic lenders in December, less than the P140 billion targeted for this month. In an online advisory posted on Wednesday, the Bureau of the Treasury (BTr) said it will…

Regional Updates (11/26/20)

PCIC releases P347-M indemnification funds to calamity-affected farmers, fishers THE PHILIPPINE Crop Insurance Corp. (PCIC) has so far released P347 million worth of indemnification funds to insured farmers and fisherfolk affected by the onslaught of recent typhoons and other calamities.…

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