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Xinhua world economic news summary at 0900 GMT, March 11
TOKYO -- Tokyo stocks closed significantly lower on Monday amid a strong yen and concerns for an overheated market following the overnight losses of tech-related shares in the Wall Street market. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 868.45 points, or 2.19 percent, from Friday to close the day at 38,820.49, the lowest level since Feb. 21. (Japan-Tokyo Stocks).....»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
Philippines inflation rate slows to 2.8 pct in January
MANILA, Feb. 6 (Xinhua) -- Year-on-year inflation in the Philippines further eased to 2.8 percent in January from 3.9 percent in December 2023, the Philippine Statistics Authority (PSA) said on Tuesday. PSA head Dennis Mapa told a press conference that the January inflation rate is the lowest since the 2.3 percent inflation rate was recorded in October 2020. In January 2023, inflation rate was 8.7 percent.....»»
Two Filipinas shine in the regional World Press Photo Contest; 2023 World Press Photo displayed in Manila
Two Filipinas are among the winners of the regional World Press Photo contest which highlights the Drug War, and the Golden Gays in the Philippines......»»
Banking 101: Unmasking Financial Lingo
Hey friends, ever get stuck in a conversation where financial terms sound like a different language? Don’t worry, we’ve got your back! Let’s break down some everyday bank talk in a way that won’t leave you scratching your head. Interest Rates First off, “Interest Rates” – it’s the cost of borrowing money or the high-five […].....»»
DOF: GFIs can seek extended relief after Maharlika infusion
Government financial institutions Land Bank of the Philippines and Development Bank of the Philippines will likely seek an extension of its regulatory relief following contributions to the country’s sovereign wealth fund......»»
DoF considering IPOs for LandBank, DBP
The Philippine News Agency reported that the Department of Finance, under new Secretary Ralph Recto, is “exploring amendments to the charters of the Land Bank of the Philippines and Development Bank of the Philippines”, which Mr. Recto said could include “their possible public listing, to broaden the local capital market.”.....»»
Landbank-DBP merger not pushing through – Recto
The planned legal merger of the Land Bank of the Philippines and the Development Bank of the Philippines is no longer pushing through as Finance Secretary Ralph Recto deviates yet again from his predecessor......»»
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).....»»
UnionBank profit down 28 percent to P9.2 billion in 2023
The earnings of Union Bank of the Philippines dropped by 27.8 percent to P9.2 billion in 2023 from P12.74 billion in 2022, as the listed bank booked higher provisioning and integration costs from the takeover of the retail banking business of global banking giant Citi in the Philippines......»»
PDIC now accepts digital payments through Land Bank of the Philippines’ Link.BizPortal facility
PDIC now accepts digital payments through Land Bank of the Philippines’ Link.BizPortal facility.....»»
PH Inflation Sees Huge Dip in January 2024 Now at 2.8%
The country’s headline inflation has taken a significant dip, currently standing at 2.8%, according to the latest report from the Philippines Statistics Authority (PSA) released on February 6, 2024. According to PSA, this marks the lowest rate recorded since October 2020, showing a considerable drop from December 2023’s 3.9 percent and a noteworthy decrease from […].....»»
MUPH 2024: Fresh faces, pageant pros among 54 candidates competing for crown
Among the 54 contestants who will compete in this year’s Miss Universe Philippines (MUPH) are old-timers in the world of pageantry......»»
Median age for marriage among PH women is 28, says PSA
CEBU CITY, Philippines — The median age for marriage in the Philippines falls between ages 28 to 30, according to the latest data posted by the Philippine Statistics Authority (PSA). The PSA said, as per Vital Statistics, that the median age for marriage in the Philippines among women in 2022 was 28 years old. For.....»»
Asia’s Best : Philippines up for 7 awards for 2024 World Travel Awards
The Philippines is once again among the nominees as "Asia's Best" at the World Travel Awards 2024......»»
Balunan breaks into the WBO world rankings
CEBU CITY, Philippines — Unbeaten prospect Christian Balunan is now a world ranked minimumweight of the World Boxing Organization (WBO). The 24-year-old Cebuano boxer from the municipality of Consolacion in northern Cebu continues to impress the local boxing scene after breaking into the latest world rankings despite having only 10 fights in his young professional.....»»
Amparo falls short vs. Shigeoka in last minute world title bout
CEBU CITY, Philippines — World-rated Boholano Jake “El Bambino” Amparo faltered in his first world title shot in the hands of the defending International Boxing Federation (IBF) world minimumweight champion Ginjiro Shigeoka on Sunday, March 31, in Nagoya, Japan. Shigeoka made easy work against his last minute opponent by scoring a second round knockout. He.....»»
Melvin Jerusalem vows to end PHL’s world title drought in boxing
CEBU CITY, Philippines — Before Filipino boxers lost devastatingly in Japan, there was one who stood out and went on to become a world champion. He’s no other than Melvin “Gringo” Jerusalem, who wrested the World Boxing Organization (WBO) world minimumweight title in the hands of erstwhile champion Masataka Taniguchi. Jerusalem did it in a.....»»
Gwendolyne Fourniol tuloy ang laban sa Miss World after 2 years delay
FINALLY! Matutuloy na ang paglaban ng ating pambato na si Gwendolyne Fourniol sa Miss World pageant. Magugunitang tumagal ng dalawang taon ang pagrereyna niya bilang Miss World Philippines dahil ilang beses nang nauudlot ang international competition. At ito na nga, bilang tuloy na tuloy na ang 71st edition ng Miss World ay nagtungo na ang Pinay.....»»
Araneta: Experience and Donaire’s help key to winning world title eliminator bout
CEBU CITY, Philippines — Omega Boxing Gym’s banner boxer, Christian “The Bomb” Araneta, is full of confidence heading into his third world title eliminator fight. The 28-year-old Cebuano knockout artist will trade leathers with Arvin “Hurricane” Magramo for the International Boxing Federation (IBF) world junior flyweight world title eliminator on January 26 at the Nustar.....»»