BSP to review 3 percent rate cap on credit card transactions
The Bangko Sentral ng Pilipinas will review this month whether to keep or hike the three percent interest rate cap on credit card transactions......»»
CCAP: Current credit card rate cap sufficient
The Credit Card Association of the Philippines said it fully supports the assessment process of the Bangko Sentral ng Pilipinas in adjusting or keeping the cap on credit card charges, adding that the current ceiling is sufficient......»»
2.4M Dabawenyos working as of Oct 2023
The October 2023 Preliminary Employment report by the Philippine Statistics Authority-Davao Region (PSA-Davao) reveals that 64 percent of the 3.780 million Dabawenyos aged 15 and above are part of the labor force, indicating that 2.42 million individuals are employed. This represents a 1.8 percentage point increase from the previous year. The report also highlights a 97.1 percent employment rate in the Davao Region as of October 2023, with a 2.9 percent unemployment rate, lower than the national average. Despite this, the region still maintains the highest employment rate in the Philippines. Additionally, the report compares employment rates across different regions, with Soccsksargen, Barmm, Central Luzon, CAR, Caraga, Western Visayas, Cagayan Valley, Mimaropa, and Central Visayas surpassing the national average. The Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) records the highest labor force participation rate among 17 regions, while the Zamboanga Peninsula has the lowest rate. The data is collected through the Labor Force Survey (LFS) conducted quarterly and monthly by the PSA central office and its regional statistical services offices. The Davao Region, with nearly 6 million inhabitants, remains the 7th most populous region in the country......»»
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......»»
Philippines inflation rate slows to 2.8 pct in January
MANILA, Feb. 6 (Xinhua) -- Year-on-year inflation in the Philippines further eased to 2.8 percent in January from 3.9 percent in December 2023, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa told a press conference that the January inflation rate is the lowest since the 2.3 percent inflation rate was recorded in October 2020. In January 2023, inflation rate was 8.7 percent.....»»
Lending startup unveils credit card for Gen Zs
Technology startup firm Zed Philippines Inc. has launched a Mastercard Titanium credit card with zero interest, zero foreign transaction fees and no annual charges, aiming to roll out these cards to the market within the coming months......»»
Struggling with credit card debt: Renters and low-income individuals fall behind – The Daily Guardian
Title: Financial Challenges Persist for Certain U.S. Population Despite Strong Economy Subtitle: Rising inflation, credit card debt, and student loan burdens threaten the financial well-being.....»»
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 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......»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
Benny Blanco makes new Filipino food review after Jollibee online backlash
After earning the ire of many Filipinos who had seen his initial negative review of Jollibee, American record producer Benny Blanco uploaded another food review video, this time giving a more favorable review of Filipino food. .....»»
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......»»
Should You Bite on Digital Credit Line Offerings?
Digital credit lines have become a prevalent offering for digital platforms like digital banks and online shopping apps. These readily available lines of credit, often so accessible, can be tempting, especially for unexpected expenses. But before you hit “apply,” it’s crucial to weigh the pros and cons to determine if a digital credit line aligns […].....»»
Moira Dela Torre highlights value of giving credit following viral copyright issue
Moira Dela Torre weighed in on the viral copyright issue and said that it is important to give credit where credit is due. .....»»
More Pinoys do buy now, pay later transactions
Nearly 50 percent of respondents in the Philippines are likely to adopt buy now, pay later services for future transactions, according to a survey from consumer research and data analytics company Milieu Insight......»»
Busting credit card fraud rings
Credit card scams could happen to you, especially as the world becomes an increasingly cashless global village......»»
Kumong Bol-Anon 15 bares complete fight card
CEBU CITY, Philippines– The complete fight card for the much-anticipated “Kumong Bol-Anon 15” of the PMI Bohol Boxing Promotions was officially unveiled. The April 30 fight card will feature a total of six bouts that will be held at the Holy Name University gymnasium in Tagbilaran City, Bohol. The main event is considered one of.....»»
Rommel Padilla nipalag sa quote card nga nitira ni Kathryn: Kondenahin!
Nipalag ang kanhi action star nga si Rommel Padilla sa nigawas nga quote card kabahin kuno sa pagkacheater sa anak niya nga si Daniel Padilla. Way kamatuoran ang nasuwat sa usa ka social media quote card nga nikaylap na karon diin gidepensahan niya si DJ sa paghaylo kuno niya ni Kathryn Bernardo. Gi-repost ni Rommel.....»»
Rommel Padilla umaray sa quote card na tumitira kay Kathryn: Kondenahin!
INALMAHAN ng dating action star na si Rommel Padilla ang lumabas na quote card tungkol sa umano’y pagiging “cheater” ng anak niyang si Daniel Padilla. Wala raw bahid ng katotohanan ang nakasulat sa isang social media quote card na kalat na kalat na ngayon kung saan “dinedepensahan” niya si DJ sa sinasabing panloloko raw nito.....»»
CARD MRI clinches Digital Financial Inclusion Award
CARD Mutually Reinforcing Institutions (CARD MRI) was selected as one of the five microfinance institution (MFI) winners at the 2nd Digital Financial Inclusion Awards......»»
CARD MRI plants 750 mangrove trees in Oriental Mindoro
CARD Mutually Reinforcing Institutions (CARD MRI) planted 750 mangrove trees in Brgy. Baruyan, Calapan City, Oriental Mindoro on October 7, 2023......»»