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BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
Fed Chief Powells Remarks on March Rate Cut Unlikely to Cause Stock Tumble: The Daily Guardians Guide to Navigating the Market
Title: Market Rebounds After Fed Chief’s Comments, Tech Stocks Experience Declines Subtitle: Investors Advised to Be Cautious Amidst Volatility Date: [Insert Date] Author: [Your Name].....»»
BSP governor says February rate cut not likely
In statements made to the press, BSP Governor Eli Remolona said that due to the “numbers we are seeing” a rate cut “is not likely (on) February 15”, which is the next scheduled meeting date for the BSP’s Monetary Board......»»
BSP logs 40K complaints relating to financial consumer protection; only 5% come from Mindanao
SINCE the effectivity of the Financial Consumer Protection Act (Republic Act 11765) in June 2022, the Bangko Sentral ng Pilipinas (BSP) has logged more than 40,000 complaints from customers of different BSP-supervised financial institutions from all over the Philippines. Of this number, only around 5 percent come from Mindanao, implying the Mindanaoans' unawareness of the law......»»
Stocks retreat on hawkish Fed, BSP rate signals
Stock investors were turned off yesterday by policy signals from monetary authorities here and abroad, dragging the local market to a third straight day of decline......»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
BSP rate cuts seen in lockstep with US Fed
The Bangko Sentral ng Pilipinas is expected to move in lockstep with the US Federal Reserve as it pivots to an easing cycle after emerging as the most aggressive central bank in the region......»»
Duterte to Marcos: let’s take a drug test at the Luneta Park
DAVAO CITY (MindaNews / 30 January)—Former President Rodrigo Duterte dared President Ferdinand Marcos Jr. to take a drug test at the Luneta Park in Manila to prove to the public that he does not use illegal drugs. He said he is willing to take the drug test, too. “It is not me who will prove, […].....»»
May, not March
Last Wednesday, equities dropped as Federal Reserve (Fed) Chair Jerome Powell dashed investor hopes for a March rate cut. Last Friday, despite better-than-expected US nonfarm payrolls and robust wage growth which typically usher in higher interest rates, the Dow and the S&P 500 were not deterred from hitting new all-time highs......»»
Cebu Daily Newscast: Remittances soar to P33.5 billion in 2023 – BSP
Listen to Cebu Daily Newscast and get the latest stories in and around Cebu. Here’s what you need to know on Friday, February 16. Remittances soar to P33.5 billion in 2023 – BSP Filipinos abroad sent a record amount of money back home in 2023 as remittances hit $33.5 billion, boosted by a stronger peso......»»
Sarah sa pagiging ina: It’s really a balancing act everyday
AMINADO ang celebrity mom na si Sarah Lahbati na hindi naging madali ang kanyang journey bilang ina. Sa kanyang interview kay Dyan Castillejo sa “On Cue” ibinahagi niya ang mga naranasan nang maging mommy siya sa edad na 20. “I was a very young mom, obviously that comes with challenges and difficulties, but it also comes.....»»
GL movie nina Janella Salvador, Jane de Leon napurnada, anyare?
HINDI na matutuloy ang inaabangang Girl Love (GL) movie nina Janella Salvador at Jane De Leon. ‘Yan ang ibinunyag mismo ni Janella sa interview niya with “On Cue.” Kwento niya, in the works na sana ang nasabing proyekto dahil pareho silang nag-“yes” ni Jane, ngunit ang nakakalungkot na balita ay bigla itong naudlot. “I actually.....»»
Daniel Padilla magta-travel muna, balak bumalik ng Vietnam
BALAK muna ng Kapamilya actor na si Daniel Padilla na mag-focus muna sa sarili at ang kanyang pagnanais na muling mag-travel. Sa exclusive interview niya kay MJ Felipe sa “On Cue”, naging bukas ang binata sa kanyang mga plano sa buhay ngayong taon. Pagbabahagi ni Daniel, ang mga naka-line up niyang pelikula kasama sina Zanjoe.....»»
3 Kickstart Tips for Freelance Newbies
So, you’ve just snagged your first freelance gig – cue the confetti and high-fives! Now, let’s make sure you rock it. Here are three down-to-earth tips to help you dive into your freelance journey and ace that initial project. 1. Decode the Project Scope: Get the Lowdown Think of your freelance gig like cracking open […].....»»
Lagged impact of high rates to take toll on economy – BSP
The lagged effects of monetary policy adjustments last year will continue to take its toll on the economy, with growth likely to fall below government targets anew......»»
USD3.32-B Loan Approved by BSP
On Monday, the Bangko Sentral ng Pilipinas (BSP) announced that the Monetary Board approved USD 3.32 billion in medium-to-long-term (MLT) foreign borrowings for Q4 2023. From October to December 2023, the public sector’s foreign borrowings rose by 65.8%, reaching USD3.32 billion, up from USD2 billion in the same period in 2022. This brought the total […].....»»
Dela Rosa considers war with China but admits: ‘Hindi naman natin kaya’
MANILA, Philippines — Senator Ronald “Bato” Dela Rosa is already fed up with China’s persistent harassments in the West Philippine Sea, prompting thoughts of engaging in war with Beijing. But he knows, war is not an option. “Naubos na ang sasabihin ko dapat dyan. Short of declaring war na tayo dyan against sa kanila e,.....»»
BSP on guard vs inflation risks amid El Niño
The BSP chief said headline inflation likely further accelerated to 3.9 percent in March from 3.4 percent in February due to base effects, but lower than the 7.6 percent in March 2023......»»
GCash gets BSP nod to enter Europe, ME
E-wallet leader GCash has received the green light from the Bangko Sentral ng Pilipinas (BSP) to offer financial services to overseas Filipino workers (OFWs) in Europe and the Middle East......»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»