News

Global goal to end poverty by 2030 unlikely to be met, World Bank says

Sonia Elks, Thomson Reuters Foundation
Posted at Sep 19 10:14 PM

The number of people living on less than $1.90 a day has fallen to record low of about 655 million - or 9 percent of the world's population - but a global target of ending extreme poverty by 2030 is unlikely to be met, the World Bank said on Wednesday. Read more »

PH posts $1.27-B balance of payments surplus in August: BSP

ABS-CBN News
Updated as of Sep 19 07:46 PM

The Philippines posted a balance of payments (BOP) surplus of $1.27 billion in August 2018, the Bangko Sentral ng Pilipinas said Wednesday. Read more »

Gov't eyes World Bank loan to help in Ompong response

Warren de Guzman, ABS-CBN News
Posted at Sep 18 04:26 PM

Dominguez said the National Disaster Risk Reduction and Management Council would recommend to President Rodrigo Duterte the declaration of a state of calamity to access the loan. Read more »

Why higher interest rates may be good for the economy

ABS-CBN News
Updated as of Sep 12 09:03 AM

The Bangko Sentral ng Pilipinas could hike its benchmark rate by as much as 50 more basis points, bringing it to 4.5 percent by year end, which will still be low compared to the early 2000s. Read more »

British Airways hacked with details of 380,000 bank cards stolen

Agence France-Presse
Posted at Sep 07 04:44 AM

British Airways said Thursday that the personal and financial details of customers making bookings between August 21 and September 5 were stolen in a data breach involving 380,000 bank cards. Read more »

U.S. charges North Korean in Bangladesh central bank, Sony hacks

Agence France-Presse
Updated as of Sep 07 08:31 AM

The hack of the central bank of Bangladesh saw at least $81 million stolen and transferred between a number of accounts in the Philippines and elsewhere, rendering most of it unrecoverable. Read more »

Gunman kills 3 in U.S. bank; police shoot him dead

ABS-CBN News
Posted at Sep 07 12:30 AM

A gunman opened fire inside a bank in downtown Cincinnati on Thursday morning, killing at least three people and wounding others before being shot and killed by police, authorities said. Read more »

BSP Gov: Digitalization to boost financial inclusion, benefit women

Jan Yumul, ABS-CBN News
Posted at Sep 06 10:24 PM

The level of financial inclusion is already higher with women than men in Philippines, but the digitalization of financial services may boost this further, according to Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. Read more »

ALAMIN: Paano mapapakinabangan ang mga yaman sa W. Philippine Sea

ABS-CBN News
Posted at Aug 24 09:37 PM

Inamin ng DOE na puwedeng partner ang China sa mga joint exploration na layong pakinabangan ang sangkatutak na deposito ng natural gas at langis sa West Philippine Sea. Read more »

PNB names Wick Veloso as president effective Nov. 16

ABS-CBN News
Posted at Aug 24 04:03 PM

Veloso, the CEO of HSBC Philippines, will replace outgoing PNB president Reynaldo Maclang, who will retire on Nov. 15. Read more »

Bangko Sentral doesn't expect inflation to hit 6 or 7 pct

Neil Jerome Morales, Reuters
Posted at Aug 23 05:25 PM

The Philippine central bank does not expect inflation to reach 6 or even 7 percent, and is optimistic that it will ease after peaking either in August or September, its governor said on Thursday. Read more »

Trump says Manafort case 'does not involve me'

Reuters
Posted at Aug 22 08:00 AM

President Donald Trump tried to distance himself from his former campaign chairman Paul Manafort's conviction on Tuesday on bank and tax fraud charges, saying it did not involve him. Read more »

PH posts $455-M balance of payments deficit in July

ABS-CBN News
Posted at Aug 20 06:55 PM

The Philippines posted a balance of payments deficit of $455 million in July pushing the total BOP deficit from the January to July to $3.71 billion, the Bangko Sentral ng Pilipinas said Monday.  Read more »

'Build, Build, Build' gets $300-M boost from ADB

ABS-CBN News
Updated as of Aug 20 01:40 PM

Through the loan the ADB said it was hopeful Manila could "create the enabling policy environment that will allow public-private partnership (PPP) projects to flourish using private sector expertise and innovation." Read more »

OPINION: Duterte knows China’s ultimate goal is control of  South China Sea

Ellen T. Tordesillas
Posted at Aug 19 11:59 PM

Has President Duterte realized the folly of his subservience to China? Read more »

PSBank advisory: System upgrade to affect ATM-related services

ABS-CBN News
Posted at Aug 17 03:36 PM

PSBank on Friday said its ATM-related services will temporarily be unavailable on Aug 20 due to system upgrade.  Read more »

RCBC Savings Bank chief likens role to orchestra 'conductor'

Jan Yumul, ABS-CBN News
Updated as of Aug 17 03:29 AM

For the boss of RCBC Savings Bank, managing a business is a lot like overseeing an orchestra.  Read more »

World Bank to issue world's first blockchain bond

Agence France-Presse
Posted at Aug 12 12:17 AM

More than just funds, the World Bank aims to gain experience using blockchain -- a digital public registry of transactions -- that could lead to "a golden future" for financial services for developing nations. Read more »

OPINION: Duterte's gift to Xi Jinping when he comes in November

Ellen T. Tordesillas
Posted at Aug 10 03:52 AM

All these efforts and pronouncements about joint exploration with China in Philippine territory is in connection with the state visit of China’s President Xi Jinping in November. Read more »

BSP raises inflation forecast for 2018, 2019

ABS-CBN News
Updated as of Aug 09 08:48 PM

The BSP raised its inflation forecast for this year to an average of 4.9% from 4.5% announced in June.  Read more »