End-of-the-season weariness

NOT being from this part of the world — I know that comes as a surprise to some people — I still think in terms of “seasons,” so it was with a bit of wistfulness that I noted the passing of summer earlier this week. Thanks to this damnable coronavirus, we have now essentially lost two seasons of this year, and by the middle of this week, we...

‘Hot money’ outflows dive to 14-month low

Foreign portfolio investments that left the country sank to its lowest in 14 months in August on lingering uncertainties over the coronavirus disease 2019 (Covid-19) pandemic, according to the Bangko Sentral ng Pilipinas (BSP). Data from the central bank showed on Friday that net outflows of these investments, or “hot money” — so named because of how easily these enter and exit the economy — shrank to $126.76...

Home property prices up 27% in April-June

Residential property values reached another all-time high as prices across all types of housing units accelerated in the second quarter of the year on greater demand and costs, data from the Bangko Sentral ng Pilipinas (BSP) showed on Friday. The central bank’s Residential Real Estate Price Index (RREPI) picked up by 27.1 percent to 149.4 in April to June, the highest since it started releasing the index report...

Foreign exchange flows still in surplus in August

The Philippines saw more dollars enter than exit the local economy in August, further widening the surplus of hard currency that had been building up since the start of the coronavirus pandemic as the country spent less for imports. At the same time, the Bangko Sentral ng Pilipinas said that the latest positive figure was […] The post Foreign exchange flows still in surplus in August appeared first...

BSP amending VCEs, EMI rules

The Bangko Sentral ng Pilipinas (BSP) is about to issue revised guidelines on virtual currency exchanges (VCEs) and electronic money issuers (EMIs) to plug the regulatory gaps of the existing virtual asset service providers (VASP) rules. MB File “Once issued (the revised) circular will address identified gaps by the Financial Action Task Force Guidance for a risk-based approach on VASPs,” said BSP Governor Benjamin E. Diokno. The ongoing...

PH external debt level still prudent, manageable – BSP

The Bangko Sentral ng Pilipinas (BSP) remains confident that the country’s external debt numbers and ratios are still at prudent and at comfortable levels despite more borrowings in the past seven months for the COVID-19 pandemic war chest. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. (Bloomberg file photo) Some $6 billion worth of external debt were added to the current debt stock but BSP Governor Benjamin...

Payment firm: Digital transactions surge

Multichannel payment platform CIS Bayad Center Inc. reported on Friday a significant growth in digital transactions within its biller and partner network since May. In a statement, the company announced that online payments recorded a year-on-year growth rate of 130 percent as of August. Digital transactions account for about 34 percent of the 10 million transactions monthly, compared with 17 percent before the lockdown period, it added. To...

Touched by viral video of student selling medals, solon proposes ‘redeemable financial value’ for school medals, honors

Touched by a heart-wrenching viral video of a Grade 4 student selling his medals, Misamis Oriental 2nd District Rep. Juliette Uy proposed Saturday (Sept. 26) that the academic honors and awards be given “redeemable financial value.” (PIXABAY / MANILA BULLETIN) The vice chairperson of the House Committee on Appropriations asked the Department of Education (DepEd) and Commission on Higher Education (CHED) to work with the Department of Finance...
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