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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......»»
Biz Bureau surpasses 43-K permit renewals
The Davao City Business Bureau has achieved a significant milestone by processing over 43,000 business permit renewals as of January 29, 2024, surpassing last year's numbers. Maribel Paguican, the Head of the Business Bureau, revealed this accomplishment in a radio interview on January 30, 2024. She highlighted the bureau's performance, stating that they had already exceeded the previous year's figures by 270 renewals. Despite the positive outcome, Paguican acknowledged that they are still short of reaching the 46,000 permits issued the previous year. With approximately 2,890 renewals remaining, including 291 applicants considering retirement, the bureau anticipates around 2,599 renewal applicants. Paguican emphasized the upcoming retirement deadline on January 31, urging business owners to comply to avoid penalties ranging from P1,000 to P5,000. She also advised on the required documentation for retirement, emphasizing the importance of submitting the necessary paperwork to facilitate the process......»»
Forex buffer hits 2-year high
The country’s dollar reserves rose to a 23-month high in March due to higher government deposits with the central bank and higher gold prices in the international market, according to the Bangko Sentral ng Pilipinas......»»
Forex buffer hits 2-year high
The country’s dollar reserves rose to a 23-month high in March due to higher government deposits with the central bank and higher gold prices in the international market, according to the Bangko Sentral ng Pilipinas......»»
NFA fails to meet palay procurement target in February
The National Food Authority continues to struggle in beefing up its rice buffer stock as its buying price remains uncompetitive against private traders, worsened by lesser harvest in February......»»
No intention to close resorts near Mt. Apo
THE Department of Environment and Natural Resources (DENR) said that it is not their intention to close down the resorts near the buffer zones of Mount Apo......»»
Remove the chaff from the grains
Other than the questioned selling of the buffer stock of rice to traders, what’s happening at the National Food Authority (NFA)? With 132 of around 2,000 NFA officials and employees all around the country suspended for six months without pay, this agency attached to the Department of Agriculture (DA) is struggling to stay relevant in the over-all schemes of the government on food security......»»
Sen. Tulfo raises concern about resorts found near Mt. Apo
SENATOR Raffy Tulfo raises concern about resorts found at the buffer zones of Mount Apo......»»
EDITORIAL - NFA housecleaning
With rice retailed at P20 per kilo still stuck in the realm of aspiration, a scandal has erupted in the National Food Authority, which is tasked to maintain a rice buffer stock for the country by buying from local farmers......»»
Philippines dollar reserves slip to $102.67 billion
The country’s foreign exchange buffer slipped to $102.67 billion in February, the second straight month of decline, acccording to the Bangko Sentral ng Pilipinas......»»
Philippines suspends over 130 officials over rice sale scandal
MANILA, March 4 (Xinhua) -- The Office of the Ombudsman has ordered the preventive suspension of the National Food Authority (NFA) head and 138 other officials and employees for their alleged involvement in a sale of rice buffer stock, Philippine Agriculture Secretary Francisco Tiu Laurel said Monday. Laurel said the order started Monday while an investigation is underway to see if the accusations are true......»»
Philippines suspends over 130 officials over rice sale scandal
MANILA, March 4 (Xinhua) -- The Office of the Ombudsman has ordered the preventive suspension of the National Food Authority (NFA) head and 138 other officials and employees for their alleged involvement in a sale of rice buffer stock, Philippine Agriculture Secretary Francisco Tiu Laurel said Monday. Laurel said the order started Monday while an investigation is underway to see if the accusations are true......»»
Ombudsman suspends NFA execs amid cheap rice sale probe
Agriculture Secretary Francisco Laurel said that the Department of Agriculture has implemented the Ombudsman's preventive suspension order for the officials allegedly involved in the “improper” sale of rice buffer stocks......»»
Gwen orders to halt Cebu BRT construction in heritage buffer zones
CEBU CITY, Philippines — Gov. Gwendolyn Garcia has ordered proponents of the Cebu Bus Rapid Transit (BRT) to halt civil works near Fuente Osmeña and the Capitol building for heritage protection purposes. Garcia has issued a memorandum, addressed to the Cebu BRT Team and the contractor, Hunan Road and Bridge Construction Group Ltd., to cease.....»»
Philippines forex reserves dip to $103 billion in January
The country’s forex buffer slid slightly to $103.4 billion in January as the government paid its foreign debts and the central bank’s gold holdings took a hit from lower prices in the global market......»»
Cha-cha plebiscite and midterm polls in one event: A test of Comelec s independence
BOTH LEGISLATIVE chambers are now leading charter change discussions. Legislators have repeatedly said that amendments will be limited to economic measures in the 1987 Constitution.Meanwhile, the conduct of the plebiscite had Commission on Elections (Comelec) Chair George Garcia describe the logistical preparations required for it. He argued that it should be held as a separate event from the 2025 midterm electi.....»»
Physicians Licensure Examination
The Professional Regulation Commission (PRC) announces that 1,906 out of 3,434 passed the Physicians Licensure Examination given by the Board of Medicine in N. C. R., Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legazpi, Lucena, Pampanga, Rosales, Tacloban, Tuguegarao and Zamboanga this April 2024. The results of examination with respect to three (3) examinees were withheld pending submission of the required documents......»»
The Filipino superfans travelling thousands of miles to see Taylor Swift - Philippines
Swifties from across the country are spending big so they can travel to see stars Eras tour in Japan, Singapore and Australia Taylor Swift Melbourne concert live updates: Eras tour hits Australia For Allan Villa, seeing Taylor Swift live in concert is an unmissable experience, worthy of the backbreaking travel that will be required to take him there. From Masbate Island, where he lives, Villa will travel four hours by boa.....»»
VistaREIT amends its disclosure, cumulative divs reach 90% of distributable income
Yesterday, I wrote about the VistaREIT Q4 dividend, and how (despite its gargantuan size) it was insufficient to drag VREIT’s cumulative FY23 dividends up above 90% of its reported distributable income for FY23 as required by the REIT Law......»»