Bangladesh sues RCBC over cyberheist at New York Fed
NEW YORK — Bangladesh’s central bank on Thursday sued a Philippine bank to recoup losses it suffered when unidentified hackers stole $81 million from its account at the Federal Reserve Bank of New York nearly three years ago.
BSP sees even slower Jan. inflation
THE OVERALL increase in prices of widely used goods likely dropped sharply in January for the third straight month, the Bangko Sentral ng Pilipinas (BSP) said, as lower rice prices and power rates may have offset higher fuel prices as the year opened.
Lawmakers move to spare infrastructure from poll ban as 2019 budget talks get back...
LAWMAKERS making up the bicameral conference committee now hammering out the final version of the proposed P3.757-trillion national budget for 2019 have committed to ensuring ratification next week, with the measure containing a provision that would spare new infrastructure projects from the 45-day public works ban ahead of the May 13 mid-term elections.
Dec. growth of money supply picks up, bank lending eases
MONEY SUPPLY grew faster in December amid the holiday cheer even as the pickup in bank loans eased anew, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
Gov’t could have topped 2018 deficit cap
THE GOVERNMENT could have topped its fiscal deficit ceiling in 2018, the state budget chief said on Wednesday as economic managers move to have big-ticket public works spared from an election ban in a bid to sustain spending momentum.
2019 budget in last-minute trouble at bicameral talks
WEDNESDAY validated expectations of “bloody” bicameral conference committee talks on the proposed P3.757-trillion national budget for this year, with no less than the Senate president threatening to withdraw the version of his chamber from the table before lawmakers concerned met again on the spending plan that day.
3rd telco at risk from legal questions
THE FATE of the Mindanao Islamic Telephone Company, Inc.’s (Mislatel) franchise hangs in the balance as the Senate committee on public services forwarded to the Senate plenary the House concurrent resolution formalizing the company’s transfer of controlling interest to the Mislatel consortium that has been chosen as the Philippines’ third major telecommunications service provider.
Bangladesh to sue RCBC over $81-M cyber heist
DHAKA -- Bangladesh was set to file a lawsuit in a US court on Wednesday against Rizal Commercial Banking Corp. (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said.
Duterte’s ban clouds PHL’s casino push — gaming chief
THE PHILIPPINES’ gaming chief said she will ask President Rodrigo Duterte to relax a ban on new casino licenses as the nation risks losing out on a gaming boom for which its Asian neighbors are lining up.
BSP signals ‘prudent’ policy steps up ahead
THE CENTRAL BANK will be “prudent” in setting monetary policy this year, with an official hinting that a pause in rate hikes could be in the cards now that inflation has been dropping.
Senate body finalizing bill raising tobacco tax
THE SENATE Ways and Means committee aims to report for plenary action by Feb. 6 the bill further increasing excise taxes on tobacco products before Congress takes its Feb. 7-May 19 break.
Tax bureau increases collections from 2017 but misses 2018 target
THE BUREAU of Internal Revenue (BIR) -- which contributes about three-fourths of total government tax revenues -- grew collections by a tenth last year from 2017, although it fell short of its target by four percent, according to data released at a hearing on Tuesday of the House of Representatives Ways and Means committee.