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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......»»
Manila to host squash SEA Cup
The eighth SEA Cup Squash Championships will be held at the National Squash Center, Rizal Memorial Sports Complex, in June with 11 gold medals at stake in men’s singles, women’s singles, mixed team, men’s jumbo doubles, women’s jumbo doubles, mixed jumbo doubles, U23 jumbo doubles, U23 international doubles, men’s international doubles, women’s international doubles and mixed international doubles......»»
Philippines likely grew below target in 2023 – economists
The economy likely posted growth below the government’s target of six to seven percent in 2023, according to economists......»»
Instagram begins blurring nudity in messages
Instagram begins blurring nudity in messages.....»»
Mayor Uy posts cryptic messages amid Igacos power problems
ISLAND Garden City of Samal (Igacos) Mayor Al David Uy posted cryptic messages regarding the power crisis in Igacos......»»
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......»»
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......»»
BSP may cut rates by mid-2024
The Bangko Sentral ng Pilipinas may start cutting interest rates as early as June this year, according to economists......»»
Strong GDP expansion gives BSP room to further hike rates
he impressive economic growth posted by the Philippines in 2023 will give the Bangko Sentral ng Pilipinas more space to further raise interest rates in case of shocks, according to economists......»»
Padawan settles for 7th place in DATBI Invitational kegfest
CEBU CITY, Philippines — Cebuano bowler Aui Padawan wrapped up his mixed masters campaign in the 19th Dagupan Association of Tenpin Bowlers, Inc. (DATBI) Invitational Open Championships at seventh place last weekend in Dagupan City. Padawan, who plays for the Sugbuanon Bowlers United (SUGBU), finished seventh overall among 31 other competitors in the coveted mixed.....»»
Mixed adjustments in pump prices expected during first week of April
Oil companies are anticipated to introduce mixed adjustments in pump prices during the first week of April......»»
Mixed adjustments in oil prices set before Holy Week
Oil firms will implement mixed adjustments in oil prices on Tuesday, ahead of Holy Week. .....»»
Mixed adjustments on fuel today
Separate advisories from oil companies announced mixed price adjustments on fuel products effective today......»»
Mixed movements in fuel prices set on March 5
Motorists should expect mixed movements in pump prices this week......»»
SUGBU’s Buyco rules KBA-CDO invitational kegfest’s mixed open masters
CEBU CITY, Philippines — GJ Buyco of the Sugbuanon Bowlers United (SUGBU) was crowned the mixed open masters champion in the recently concluded 2nd Kagayhaan Bowlers Association (KBA)-Cagayan de Oro Invitational Classic 2024 held at the SM Bowling Center in SM City CDO. Buyco defeated the heavily-favored top qualifier Gene Mendoza of the KBA in.....»»
Consumers express mixed reactions on slight power rate increase
Consumers of Davao Light and Power Co., Inc. have expressed mixed reactions to a slight increase in the overall power rate starting January 2024. The increase is attributed to higher market prices affecting the generation rate. Noriza Mabanding, a virtual assistant, noted the impact on her energy usage and the need to schedule appliance usage to save energy. Jenalyn Manguiob, a small business owner, expressed dissatisfaction with the increase's effect on her business but acknowledged the global market's influence and the importance of conserving energy. The increase amounts to P0.0774 per kWh, resulting in a minor increase in electricity bills for residential customers......»»
Mixed movement at the pumps seen next week
Local oil companies are expected to implement a mixed movement in pump prices next week......»»
Interest rates to remain at 6.5% — BSP
The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board (MB) decided to retain its target reverse repurchase rate at 6.5%......»»
BSP sinisipat 4.2% inflation noong Marso
Sa pagtaya ng Bangko Sentral ng Pilipinas, maaaring umabot sa 4.2% ang inflation nitong Marso. The post BSP sinisipat 4.2% inflation noong Marso first appeared on Abante......»»