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08 Jan, 2023
THE Bangko Sentral ng Pilipinas (BSP) said its work program for 2023 will focus on the launch of new digital payment streams, while undertaking preparatory measures ahead of the rollout of a Central Bank Digital Currency (CBDC), Governor Felipe M. Medalla said in his New Year’s message.
“This year, we are targeting to launch other digital payment streams, such as InstaPay Debit Pull and Request to Pay. We also aim to issue a merchant acquiring and aggregation licensing framework and a cooperative oversight framework,” Mr. Medalla said.
08 Jan, 2023
THE PESO may move sideways against the dollar this week, with the market to monitor data at home and in the United States for leads.The local unit closed at P55.64 per dollar on Friday, strengthening by 11 centavos from its P55.75 finish on Thursday, Bankers Association of the Philippines data showed.
Week on week, the peso strengthened by 11.5 centavos from its P55.755 close on Dec. 29. The peso opened Friday’s session weaker at P55.85 per dollar. It dropped to as low as P55.89, while its intraday best was at P55.57 against the greenback.
09 Jan, 2023
Philippine exports are forecast to soften this year despite China, a major trading partner, emerging from strict pandemic restrictions as demand is likely to remain subdued because of a looming global recession.
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09 Jan, 2023
Indications point to higher electricity rates for Manila Electric Co. (Meralco) this January, its third consecutive month of increase, according to an official of the power distributor.
“Likely up,” Meralco vice president and head of utility economics department Lawrence Fernandez told The STAR over the weekend.
What can we expect from Ferdinand Marcos, Jr.’s administration in terms of policymaking in 2023? We can second-guess how the administration will conduct itself this year in two ways. The first is by examining how current conditions, global and national, will influence policy. The second is by reviewing actual behavior and performance of the Marcos administration in the previous year.
07 Jan, 2023
The Gokongwei Group is ending up with a higher 10.4-percent stake in Ayala-led Bank of the Philippine Islands (BPI) amid the ongoing merger of the banking arms of the two largest conglomerates in the country.
In a disclosure to the Philippine Stock Exchange (PSE), the Gokongwei Group said the board of directors of Robinsons Retail Holdings Inc. has approved the purchase of the 4.4-percent effective equity interest of Arran Investment Pte. Ltd. in BPI.
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