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Digital banks seen profitable in 5-7 years
Digital banks in the Philippines need five to seven years to become profitable, as only two out of six online lenders are doing well so far, according to the Bangko Sentral ng Pilipinas......»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
RCBC the best PH bank by network uptime, and UBP ranks at the bottom
Brankas, a Singapore-based fintech software and services provider, published its first annual ASEAN Bank Stability Report to measure the network uptime performance of ASEAN-region banks, and RCBC finished in the top spot among banks in the Philippines with an uptime of 98.3% (31 hours total downtime) including a stretch of seven months with zero downtime events......»»
More groups to establish Islamic banks in Philippines
More groups are looking at establishing Islamic banks in the Philippines as the first branch of the new banking classification is expected to open soon, according to the Bangko Sentral ng Pilipinas......»»
BSP pursues reforms to modernize banks
The Bangko Sentral ng Pilipinas is pursuing policy reforms to modernize Philippine banks and ensure a sustainable, digital and inclusive banking future......»»
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......»»
Interview: ISU chief hails next generation stars rising at Gangwon 2024
GANGNEUNG, South Korea, Jan. 28 (Xinhua) -- The next generation stars in ice skating are rising at the 2024 Gangwon Winter Youth Olympic Games, chief of the global skating governing body has said. "Next-generation stars can compete [at a] global level. Just like many other sports, this is an event where we get to see the rising stars, the next generation stars," Kim Jae-youl, president of the International Skati.....»»
New check format to be implemented on May 1
Old check designs will be accepted by banks for clearing until April 30, 2024 only......»»
Ppop rise for free, quality education in this year’s UP Fair
The six-day music festival happening from February 12 to 17 at UP Sunken Garden, will champion human rights advocacies that the UP student system fights for. The post Ppop rise for free, quality education in this year’s UP Fair appeared first on Bulatlat......»»
Lovi Poe may bagong Hollywood movie, sisimulan ang taping this year
BUKOD sa Hollywood independent film na “Bad Man,” may bagong international movie na pagbibidahan ang Pinay actress na si Lovi Poe. Grabe! Ibang level na talaga si Lovi, pang-Hollywood na ang kanyang acting skills! Hindi pa nari-reveal kung ano ang titulo ng bago niyang proyekto, pero ito ay pinangungunahan ng American producer-director na si Garry.....»»
Sara reveals she will run in next polls
Summary: Sara Duterte, the Vice President and Education Secretary, announced her intention to run in the next election during a visit to flood victims in Barangay Bago Gallera. In a Facebook Live video, she mentioned that her brothers, Davao City Mayor Sebastian “Baste” Duterte and First District Rep. Paolo “Pulong” Duterte, may not run in the next election, prompting her decision to campaign. However, she did not specify the position she would be running for. The upcoming election will be the 2025 midterm senatorial elections for senators, congressmen, and local officials, with the presidential national elections scheduled for 2028. Duterte also emphasized the importance of barangay development councils in times of calamity and stressed the need for disaster resilience and awareness among barangay officials and children. Additionally, she highlighted the significance of safety and security, urging trust in security personnel and caution against scammers and swindlers. Duterte also emphasized the importance of education for the younger generation and the equal opportunities it provides. This announcement comes amidst her visits to various areas in the Philippines, where she has been extending aid and addressing pertinent issues such as disaster resilience and community safety......»»
Saving Money Amidst Rising Prices
Saving money while prices are on the rise can be difficult, especially when the costs of basic commodities such as food, water, and electricity are also increasing. It’s easy to say that cutting back on purchases will help us save, but in reality, it’s not always viable. In such bad situations, how can we maintain […].....»»
School break
Two weeks ago a young mother I know was abruptly informed that the “Kiddie 1” classes of her three-year-old daughter, which were supposed to be until next month, were over for the school year......»»
Taiwan extends visa-free entry for Pinoys until 2025
Taiwan announced yesterday the extension of its visa-free entry policy for Philippine passport holders until July 31, 2025......»»
Voluntary price freeze on basic goods until July 10
Voluntary price freeze on basic goods until July 10.....»»
Ban on onion imports extended until July
The Philippines has extended the ban on the importation of onions until July to prevent a glut in local supplies following historic production levels, according to the Department of Agriculture......»»
Makers freeze prices of select items until July 10
Some manufacturers are implementing a voluntary price freeze until July to help address the impact of El Niño on prices of goods, according to the Department of Trade and Industry......»»
Camille Prats attends purity ball with son Nate: To stay pure until he finds the one
Camille Prats is "grateful" for her son Nate's decision to remain pure until he ties the knot as both of them recently attended a purity ball. .....»»
Lacson our governor until 2028, Ferrer says
Lacson our governor until 2028, Ferrer says.....»»
Maybe no Fed rate cuts in FY24?
A recent CNBC article captured the growing concern that the US Federal Reserve’s first rate cut – the infamous “pivot” – might not happen until “at least September”, and discusses a few analysts (including those from Bank of America) who have said that there is “real risk” that the first cut might not even come until March 2025......»»