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PH Remains One of the Fastest Growing Economies in East Asia and Pacific, World Bank Says
The World Bank retains its positive outlook on the Philippine economy despite foreseen challenges. According to their April 2024 East Asia and Pacific Economic Update, the World Bank projects a 5.8 percent economic growth for the Philippines this year — the East Asia and Pacific region’s second fastest-growing economy. Moreover, the said update also adjusted […].....»»
UnionDigital Bank revenue grows to over P5 billion
UnionDigital Bank, the digital banking arm of Aboitiz-led Union Bank of the Philippines, saw its revenue grow to over P5 billion in 2023 mainly driven by higher deposits and loans......»»
BPI renews alliance with Mizuho Bank
The Bank of the Philippine Islands has renewed its alliance with Japan’s Mizuho Bank Ltd., expanding and strengthening the scope of business cooperation between the two banks......»»
JBIC’s environmental compliance arm to investigate bank’s LNG activity in Verde Island Passage
The Examiner for Environmental Guidelines of the Japan Bank for International Cooperation (JBIC) is set to commence an investigation for potential violations by the bank in relation to its support to the Atlantic Gulf & Pacific Company (AG&P), which built a liquefied natural gas import terminal in the biodiversity hotspot known as the Verde Island […].....»»
J-K Bank Q3 net profit up 35 pc to Rs 421 cr, 9-month net jumps 57 pc
Srinagar (Jammu and Kashmir) [India], January 20 (ANI): Jammu and Kashmir bank net profit rose 35 per cent year-on-year (YoY) to Rs 421.08 crore for the October-December Quarter (Q3FY 2024) when compared to Rs 311.59 crore registered for the same period last fiscal, an official release said. According to the release, the bank announced the results today after its Board of Directors reviewed and approved the numbers for Q3.....»»
J-K Bank Q3 net profit up 35 pc to Rs 421 cr, 9-month net jumps 57 pc
Srinagar (Jammu and Kashmir) [India], January 20 (ANI): Jammu and Kashmir bank net profit rose 35 per cent year-on-year (YoY) to Rs 421.08 crore for the October-December Quarter (Q3FY 2024) when compared to Rs 311.59 crore registered for the same period last fiscal, an official release said. According to the release, the bank announced the results today after its Board of Directors reviewed and approved the numbers for Q3.....»»
BSP onboards OmniPay as 1st non-bank in settlement platform
The Bangko Sentral ng Pilipinas has onboarded OmniPay Inc. in the roster of financial institutions that settle high value transactions safely and instantly through the central bank-owned and operated national payment system......»»
Philippine remittances hit all-time high in 2023
MANILA, Feb. 15 (Xinhua) -- Personal remittances from overseas Filipinos reached an "all-time high" of 37.2 billion U.S. dollars in 2023, 3 percent higher than the 36.1 billion dollars recorded in 2022, the Philippine central bank said on Thursday. "The robust inward remittances reflected the rise in the deployment of overseas Filipino workers due to the continuous increase in demand for foreign workers in host.....»»
Philippine remittances hit all-time high in 2023
MANILA, Feb. 15 (Xinhua) -- Personal remittances from overseas Filipinos reached an "all-time high" of 37.2 billion U.S. dollars in 2023, 3 percent higher than the 36.1 billion dollars recorded in 2022, the Philippine central bank said on Thursday. "The robust inward remittances reflected the rise in the deployment of overseas Filipino workers due to the continuous increase in demand for foreign workers in host.....»»
BSP: Inflation surpassed target in March
Inflation likely continued its uptick in March but breaching the target of the central bank for the first time in three months amid more expensive electricity costs, oil and food prices......»»
Foreign debt reaches all-time high in 2023
The country’s foreign debt reached another record high in 2023, as both the national government and the private sector borrowed more from offshore creditors, the central bank said......»»
Worldwide Central Breaks Ground on Vitale Suites, Bringing Singapore-inspired Living to Mandaue
Worldwide Central Properties, Inc. proudly unveiled its latest venture, Vitale Suites, during a groundbreaking ceremony that marked the beginning of a new era for mixed-use residential and hotel developments in Mandaue City. Vitale Suites aims to redefine the landscape of urban living by bringing Singapore-inspired elegance to the heart of Mandaue. Worldwide Central Properties joined.....»»
2.4M Dabawenyos working as of Oct 2023
The October 2023 Preliminary Employment report by the Philippine Statistics Authority-Davao Region (PSA-Davao) reveals that 64 percent of the 3.780 million Dabawenyos aged 15 and above are part of the labor force, indicating that 2.42 million individuals are employed. This represents a 1.8 percentage point increase from the previous year. The report also highlights a 97.1 percent employment rate in the Davao Region as of October 2023, with a 2.9 percent unemployment rate, lower than the national average. Despite this, the region still maintains the highest employment rate in the Philippines. Additionally, the report compares employment rates across different regions, with Soccsksargen, Barmm, Central Luzon, CAR, Caraga, Western Visayas, Cagayan Valley, Mimaropa, and Central Visayas surpassing the national average. The Bangsamoro Autonomous Region in Muslim Mindanao (Barmm) records the highest labor force participation rate among 17 regions, while the Zamboanga Peninsula has the lowest rate. The data is collected through the Labor Force Survey (LFS) conducted quarterly and monthly by the PSA central office and its regional statistical services offices. The Davao Region, with nearly 6 million inhabitants, remains the 7th most populous region in the country......»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Officials seek inclusion of Boracay in peso bills
The Municipal Council of Malay, Aklan will come up with a resolution requesting the Bangko Sentral ng Pilipinas (BSP) to include the picture of Boracay Island in the new bank notes it is producing......»»
NTC blocking unlicensed investment apps
The National Telecommunications Commission has ordered the blocking of access to the website and app of foreign exchange platform MiTrade, accused by the Securities and Exchange Commission of offering investment opportunities without the necessary license......»»
Valentine’s Day Wedding: 26 couples exchange ‘I Dos’ in Toledo City
MANDAUE CITY, Cebu — February 14 was a very important day for 26 couples in Toledo City who availed of the city government’s free wedding program. Mayor Marjorie Piczon Perales officiated the exchange of wedding vows and the special event was being held at the Toledo Sports Center, the city’s Public Information Office said. READ:.....»»
Xinhua world news summary at 0630 GMT, Feb. 28
MANILA -- A 60-year-old father, a 54-year-old mother, and their two sons, aged 14 and 12, died in a fire that gutted over a dozen houses in Cebu City in the central Philippines, a city firefighter said Wednesday. Wendell Villanueva of the city fire office said the victims were in deep sleep when the fire broke out shortly before 2 a.m. local time on Tuesday. (Philippines-Fire-Death) - - - - WASHING.....»»
DBP seeks capital buildup of up to P300 billion
State-run Development Bank of the Philippines is hoping to raise its authorized capital stock to P300 billion as the bank seeks to amend its nearly three-decade-old charter......»»
Food cart program gives hope to reformed drug suspects
After spending six months in jail for drug offense, and another six months for counseling and rehabilitation, 46-year-old Jessie Morales was left homeless by a fire that hit his neighborhood in Tondo last month, leaving him with nothing but more anguish......»»