Philippine cryptocurrency transactions steady
DIGITAL CURRENCY conversions in the Philippines steadied near the $40-million mark in recent months, a ranking central bank official said.
Jack Ma warns of Bitcoin bubble
HONG KONG -- Billionaire Jack Ma has declared Bitcoin a potential bubble, reiterating his caution over the volatile cryptocurrency as his Ant Financial on Monday launched blockchain-based money transfers between Hong Kong and the Philippines.
Soft patch, facade or great decoupling?
LONDON -- A rare synchronized expansion among major world economies that was cheered on by markets and policy makers may be already unravelling, with only the near-term prospects for the United States looking significantly better.
S&P, BMI see need for another rate hike
S&P GLOBAL RATINGS and Fitch Group’s BMI Research expect another rate hike from the Bangko Sentral ng Pilipinas (BSP) within the year, citing the need for further tightening to curb faster inflation and ease pressures on the peso.
SEC gives short sale green light
THE PHILIPPINE Stock Exchange, Inc. (PSE) has secured the green light for short-selling, a move designed to further increase market liquidity.
BSP banks on BPO, tourism for trade boost
REVENUES from business process outsourcing (BPO) and tourism will buoy the country’s external trade balance this year as these industries are expected to grow by a tenth, the central bank said.
Gov’t setting price guide for select farm items in Metro Manila
THE GOVERNMENT is setting suggested retail prices (SRPs) for select agricultural products sold in Metro Manila in response to consumer concerns, officials said on Friday.
Tax bureau extends deadline for processing VAT refunds
THE BUREAU of Internal Revenue (BIR) has extended the deadline for processing value-added tax (VAT) refund claims affected by a 2014 rule that had initially denied many of them.
Most mines pass review — MICC
THE MINING INDUSTRY Coordinating Council (MICC) cleared 23 of the 27 mines that were reviewed for compliance with state regulations, reducing uncertainty about potential supply disruptions at the world’s no. 2 nickel ore supplier.
Construction at major state projects set to begin
CONSTRUCTION WORK for at least nine of the 75 key large-scale infrastructure projects of the Duterte administration is set to begin next semester.
Second rate hike may not be enough to help markets
WHILE the Bangko Sentral ng Pilipinas increased its benchmark interest rate for a second month on Wednesday, the action may not be enough to help lift Asia’s worst-performing market, according to some analysts.
BSP tightens anew to temper inflation
THE Bangko Sentral ng Pilipinas (BSP) raised rates yesterday after a similar move in May in a bid to arrest future inflation and keep local yields competitive.