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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......»»
Maynilad to sell P15-B of Blue Bonds to fund capex projects ahead of IPO
Maynilad Water Services, a subsidiary of Metro Pacific Investments and an affiliate of DMCI Holdings, disclosed its application to the SEC to sell up to P15 billion worth of fixed-rate “Blue Bonds” in the last week of May, for listing on PDEx in the first week of June......»»
Treasury raises P60 billion from T-bonds in February
The government raised P60 billion in long-term securities this month, short of target, as the Bureau of the Treasury focused on the retail treasury bonds......»»
Filinvest cleared to sell P10 billion fixed bonds
Gotianun-led Filinvest Development Corp. received yesterday its permit to sell up to P10 billion in fixed bonds consisting of a base offer of P7 billion and an oversubscription option of P3 billion......»»
BDO to raise P5 billion via sustainability bonds
BDO Unibank Inc. is raising at least P5 billion as it returned to the domestic debt market via the issuance of peso-denominated fixed-rate sustainability bonds......»»
Business blocs glad with Marcos Basilan visit
The business sector in the Bangsamoro region was elated with the destruction before President Ferdinand Marcos Jr. in a former Abu Sayyaf bastion in Basilan on Saturday of 550 unlicensed firearms collected in recent months to hasten economic progress in the province......»»
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......»»
Jollibee invests $28 million in beverage tech firm
Filipino-owned Asian food conglomerate Jollibee Foods Corp. is investing $28 million for a 10 percent stake in beverage technology company Botrista Inc. to support the growth of its coffee and tea business......»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town
CEBU CITY, Dec. 17 (PNA) — Cebu-based developer Primary Homes Inc. (PHI) is investing PHP430 million to build 709 townhouse units in its 5.4-hectare property in Poblacion, Compostela town in northern Cebu.........»»
SEC strengthens push for sustainable finance
The Securities and Exchange Commission has reinforced its push for sustainable finance through the adoption of the country’s taxonomy guidelines......»»
RCBC strengthens sustainable advocacy
Rizal Commercial Banking Corp. has amended its sustainable finance framework, aligning its principles with global standards to promote responsible financing and protect natural resources......»»
Concepcion: Creating jobs more sustainable than legislated wage hike
A skilled workforce and a vibrant economy that creates jobs are a more sustainable approach to attaining higher wages instead of immediately increasing the minimum wage, according to entrepreneurship advocacy group Go Negosyo......»»
Schneider Electric urges PH data centers to employ smart, sustainable solutions
Schneider Electric urges PH data centers to employ smart, sustainable solutions.....»»
Japan: Yokohama aims for tourism boost, sustainability with Smart City initiatives
Tokyo [Japan], February 8 (ANI): Nestled in the heart of Japan, Yokohama stands as a coveted tourist destination, captivating visitors with its allure. With a vision for sustainable growth, the city now aims to enhance its charm and appeal by embracing smart initiatives, fostering a more sustainable and intelligent urban experience. To realise this vision, Yokohama City organised the Y-Ship global event in December last y.....»»
Japan: Yokohama aims for tourism boost, sustainability with Smart City initiatives
Tokyo [Japan], February 8 (ANI): Nestled in the heart of Japan, Yokohama stands as a coveted tourist destination, captivating visitors with its allure. With a vision for sustainable growth, the city now aims to enhance its charm and appeal by embracing smart initiatives, fostering a more sustainable and intelligent urban experience. To realise this vision, Yokohama City organised the Y-Ship global event in December last y.....»»
Philippines urged to accelerate development of sustainable infrastructure
The Philippines needs to work double time in building sustainable infrastructure given its high vulnerability to the impacts of climate change and weather disturbances, Singapore-based project facilitation office Infrastructure Asia said......»»