GIR drops to 4-month low at end of March

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 16 Apr 2021 16:26:03 +0000

Debt servicing by the national government and lower gold prices pulled down the country’s gross international reserves (GIR) to a four-month low of $104.82 billion as of the end of March. Preliminary Bangko Sentral ng Pilipinas (BSP) data showed on Friday the amount was 0.32 percent lower than the $105.16 billion in February, but 17.95 […]

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BSFIs told to manage reputational risk

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 16 Apr 2021 16:24:22 +0000

Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) have one year to implement reputational risk management in their operations, according to the monetary authorities. In a statement on Friday, the central bank announced its policy-making Monetary Board approved the guidelines on reputational risk management, which set out the supervisory expectations for BSFIs on the identification, […]

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Agri-food sector key to economic recovery

Credit to Author: Eireene Jairee Gomez| Date: Fri, 16 Apr 2021 16:23:06 +0000

A recent Oxford Economics report cited key roles and contributions of the Philippine agri-food sector toward the country’s recovery roadmap during these challenging times of coronavirus disease 2019 (Covid-19) pandemic. It highlighted that it should be the policymakers’ top priority to provide favorable conditions for the said industry to successfully help rebuild the national economy. […]

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PH stocks conclude week in the red

Credit to Author: Faye Almazan| Date: Fri, 16 Apr 2021 16:22:07 +0000

The local bourse finished the trading week in negative territory as investors booked profits following the market’s back-to-back rally. The bellwether Philippine Stock Exchange index (PSEi) dipped by 0.69 percent or 45.15 points to 6,494.81, while the broader All Shares shed 0.4 percent or 16.07 points to close at 3,981.51 on Friday. Philstocks Financial Inc. […]

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Citigroup to shut down PH consumer operations

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 16 Apr 2021 16:21:30 +0000

Banking giant Citigroup will close its consumer operations in the Philippines as it focuses more on wealth centers in Asia and Europe, the Middle East and Africa (EMEA). In a statement on Friday, the global lender said its strategic actions in global consumer banking will allow it to direct investments and resources to the businesses […]

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PCA assures consultation with coconut farmers

Credit to Author: Eireene Jairee Gomez| Date: Fri, 16 Apr 2021 16:20:59 +0000

PHILIPPINE Coconut Authority (PCA) Administrator Benjamin Madrigal assured the coconut industry that it is conducting proper consultations with coconut farmers and groups for the finalization of guidelines on the creation of the PCA Board set to be released before the end of April. “We are continuously consulting with the coconut farmer and farmer groups to […]

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Limited fisherfolk role in FMAs protested

Credit to Author: Eireene Jairee Gomez| Date: Fri, 16 Apr 2021 16:19:57 +0000

INTERNATIONAL nongovernment organization Oceana urged the Bureau of Fisheries and Aquatic Resources (BFAR) to recall an order that limits the participation of local government units, fisherfolks, and key stakeholders in the 12 Fisheries Management Areas (FMAs) in the country. In its Fisheries Office Order 10, series of 2021, BFAR ordered for the rotation of the […]

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OFW remittances ease at 3-month low

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Apr 2021 16:21:59 +0000

MONEY sent home by overseas Filipino workers (OFWs) plunged to the lowest level in three months last February, but supported the year-to-date tally. Bangko Sentral ng Pilipinas (BSP) data released on Thursday showed that personal remittances — personal transfers in cash or kind and capital transfers between households — amounted to $2.76 billion in the […]

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BSP: Satellite tech to widen financial services

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Apr 2021 16:20:24 +0000

THE liberalized access to satellite technology in the country could widen the reach of financial services, according to the Bangko Sentral ng Pilipinas (BSP). In an online briefing on Thursday, BSP Governor Benjamin Diokno said the non-enfranchised but registered internet service providers and value-added service providers can now directly access satellite systems to build broadband […]

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PH shares extend climb

Credit to Author: Faye Almazan| Date: Thu, 15 Apr 2021 16:18:17 +0000

The main index extended its gains on Thursday amid last-minute buying. The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.26 percent or 16.75 points to its intraday high of 6,539.96, while the wider All Shares gained 0.33 percent or 12.96 points to finish at 3,997.58. AAA Equities head of research Christopher Mangun said […]

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