Bangko Sentral ng Pilipinas

Maja blanca

Rice cake maker Romualdo Blanco Jr wraps his Maja Blanca (coconut and corn pudding) in red ribbons, hoping to make it a staple of Noche Buena (Christmas Eve) in his province, where he developed a backyard business into a company with annual sales of P2,4 million. Five years ago, the 28-year-old father of 1 developed a P10,000 micro-entrepreneur loan into PK Maja’s Special, supplying puto and kutsinta to schools, grocery

This image is about FDI inflow weakens

In August, long-term equity investments in the Philippines fell sharply and declined nearly as much in the first eight months of the year as global economic uncertainties dampened the sentiment of foreign businessmen towards the country, the central bank said. Foreign Direct Investments (FDIs) posted a net inflow of $416 million in August 2019, 45.1 percent lower than last year’s net inflow of $758 million, according to the Bangko Sentral

BangkoSentral to move coin

Governor Benjamin Diokno said Friday that the Bangko Sentral ng Pilipinas will relocate their coin and bill manufacturing plant to the new public center being constructed here to satisfy their manufacturing demands. The new plant will be able to generate 5 billion pieces of bills and coins once fully operational compared to the present mint’s 3 billion ability in Quezon City, Diokno said. Once the fresh mint is operational, the

digital financial services

Adoption of digital financial services is increasing rapidly as mobile and internet penetrate all corners of the nation. For most unbanked and underserved, the transition to digital is gaining a boost from the traditional and most fundamental retail presence on the ground–through sari-sari shops driven by PayMaya’s Smart Padala. Kenneth Palacios, Director and Head of Wallets Business at PayMaya, For financial inclusion attempts to bear fruit, they should be able

stock market

The local stock barometer is seen aggressive to stay above the 8,000 level and revisit recent highs. Last week, the main-share Philippine Stock Exchange index (PSEi) trodden up by 65.27 points, or 0.82 percent, to close on Friday at 8,055.47. Local stock brokerage Papa Securities stated resistance remained at the recent high of 8,139 but it’s “highly likely for this to be breached in the coming days,” citing clarity in

PSEi

MANILA, Philippines — The stock market continued its upward momentum to close the week on a high note despite the Bangko Sentral ng Pilipinas (BSP)’s decision to adopt a prudent pause by keeping interest rates steady. Philippine Stock Exchange index concluded in the green for a fourth consecutive session yesterday, adding 33.05 points, or 0.41 percent, at 8,055.47. The broader All Shares index likewise finished in positive territory as it

rise

Malacañang Palace stated on Thursday that it was not worried about the 3.2-percent rise in inflation in May, adding this was still within the range estimated by the Bangko Sentral ng Pilipinas. Salvador Panelo, the Presidential spokesperson made a statement that there was no cause for alarm over the uptick in inflation, and that it does not indicate a reversal in the inflation slowdown. “The 3.2-percent inflation rate in May

Diokno to 'strengthen' Bangko Sentral vs cyber threats

BSP Governor Benjamin Diokno stated Friday to further “strengthen” the monetary authority’s ability to enact on cybersecurity threats. Hackers previously transferred $81 million from Bangladesh Bank’s account at the New York Federal Reserve to a branch of the Rizal Commercial Banking Corp in Makati City considered the largest cyber heist on record, central bank increased cyber protocols in 2016. “Knowing that IT security issues have systemic implications, the BSP, under

Stock index down 0.06%

Philippine Stock Exchange index (PSEi), yesterday, closed lower as investors dealt with news on slower inflation rate and sudden appointment of Budget Secretary Benjamin Diokno as the new head of Bangko Sentral ng Pilipinas. PSEi ended at 7,670.62, down 0.06 percent or 4.85 points, while the broader all-shares index also lost 0.17 percent or 8 points to 4,740.90 on Tuesday. Markets responded as inflation slowed to 3.8 percent in February.

Budget chief Diokno is the new BSP governor

Benjamin Diokno, Budget Secretary has been selected by President Rodrigo Duterte to replace late Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr., confirmed by Diokno himself on Monday. The former BSP Espenilla, 60, passed away on February 23 battling cancer for over a year. BSP Deputy Governor Almasara Tuano-Amador was as officer-in-charge following Espenilla’s passing. “During the Duterte Administration, Sec. Diokno was instrumental in presenting a budget which laid down