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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......»»
BSP planning wholesale digital currency drop by 2026
The Bangko Sentral ng Pilipinas, our country’s central bank, is planning to launch a “central bank digital currency” within two years......»»
Tax Notes: BIR clarifies treatment, conversion of foreign currency transactions
Tax Notes: BIR clarifies treatment, conversion of foreign currency transactions.....»»
ERC suspends reserve market settlement
The Energy Regulatory Commission has ordered the Philippine Electricity Market Corp. and the Independent Electricity Market Operator of the Philippines Inc. to suspend settlement amounts in the reserve market......»»
Israel plans to build 3,300 new settlement homes; says it s a response to a Palestinian attack
Israel plans to build 3,300 new settlement homes; says it s a response to a Palestinian attack.....»»
Washington state reaches a nearly $150 million settlement with Johnson & Johnson over opioid crisis
Washington state reaches a nearly $150 million settlement with Johnson & Johnson over opioid crisis.....»»
US-Phl relationship ‘at its best right now’
Philippine Ambassador to the United States Jose Romualdez is urging the Philippine business community to rally behind President Marcos’ push for economic reforms that will enable the country to attract more foreign investments and compete with our strong neighbors in the region -- Vietnam, Indonesia, Malaysia and Thailand, who are all likewise trying to attract such investments......»»
‘Why we need to amend the restrictive economic provisions’ (Continued from last week)
Of the original five members of ASEAN – Indonesia, Malaysia, Philippines, Singapore and Thailand – we are unique in that some important economic sectors are singled out for specific protection under the Constitution, the fundamental law. All the other countries simply left all matters pertaining to economy and business to ordinary legislation......»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN, arrives im Phillipines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
Coast Guard ship Samudra Paheredar on overseas deployment to ASEAN nations, arrives in Philippines
Manila [Philippines], March 25 (ANI): India Coast Guard ship Samudra Paheredar, a specialized Pollution Control Vessel, reached Manila, Philippines on Monday, marking the commencement of its (overseas deployment) OSD mission to Association of Southeast Asian Nation (ASEAN) countries. ASEAN countries includes Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam, " acc.....»»
China s Xi lauds ties with Indonesia during president-elect visit
Chinese President Xi Jinping praised China's strong ties with Indonesia during a meeting Monday with President-elect Prabowo Subianto. Xi laid plans for regional peace and affirmed China's commitment to deepen maritime cooperation with Indonesia.State broadcaster CCTV reported that Xi told Prabowo that bilateral ties "have entered a new stage of jointly building a community with a shared future." He also added t.....»»
Indonesia’s Mount Marapi erupts again, no reported casualties
AGAM, Indonesia — Indonesia’s Mount Marapi erupted again on Sunday, spewing smoke and ash high into the air, but no casualties were reported. The Marapi Volcano Observation Post in West Sumatra province recorded an eruption with an ash column about 1,300 meters (4,265 feet) high from its peak, followed by ash rain. Sprays of ash.....»»
Philippines, Indonesia seek to strengthen cooperation for energy security
MANILA, Jan. 10 (Xinhua) -- The Philippines and Indonesia on Wednesday agreed to strengthen energy cooperation to safeguard energy security. Energy ministers of the two countries signed a memorandum of understanding (MOU) on energy cooperation at the presidential palace in Manila, where Indonesian President Joko Widodo was received by his Philippine counterpart Ferdinand Romualdez Marcos. Widodo arrived i.....»»
Indonesia International Open 2024 10-ball title JEFFREY IGNACIO TINALO SI HK-BORN FILIPINO ROBBIE CAPITO
MANILA—Ginapi ni Jeffrey Ignacio ang Filipino na ipinanganak sa Hong Kong na si Robbie Capito, 10-3, Huwebes, Enero 25 para pamunuan ang Indonesia International Open 2024 sa Jakarta, Indonesia. Tinalo ni Ignacio si world number 1 Francisco Sanchez Ruiz ng Spain, 10-6, sa semifinal habang dinaig ni Capito si Jonas Magpantay ng Pilipinas, 10-7, para ….....»»
Philippines posts 1.2 bln USD surplus in March
MANILA, April 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a surplus of 1.2 billion U.S. dollars in March 2024, slightly lower than the 1.3-billion-dollar BOP surplus recorded a year ago, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in March reflected inflows arising mainly from the national government's net foreign currency deposi.....»»
BSP prodded to build up forex reserves
The Bangko Sentral ng Pilipinas should continue rebuilding its gross international reserves amid the wide current account deficit and heavy reliance on debt funding, according to Bank of America Global Research......»»
Xinhua Asia-Pacific news summary at 1600 GMT, Feb. 13
KUALA LUMPUR -- Malaysian authorities launched a search and rescue operation on Tuesday following a plane crash in Selangor state. The aircraft, which crashed around 1:30 p.m. local time, had two on board including its pilot, the Civil Aviation Authority of Malaysia said in a statement. (Malaysia-Aircraft-Crash) - - - - NEW DELHI -- Police Tuesday fired dozens of tear smoke shells and used drones t.....»»
Xinhua Asia-Pacific news summary at 1600 GMT, Feb. 13
KUALA LUMPUR -- Malaysian authorities launched a search and rescue operation on Tuesday following a plane crash in Selangor state. The aircraft, which crashed around 1:30 p.m. local time, had two on board including its pilot, the Civil Aviation Authority of Malaysia said in a statement. (Malaysia-Aircraft-Crash) - - - - NEW DELHI -- Police Tuesday fired dozens of tear smoke shells and used drones t.....»»