PAVI Green Renewable Energy Inc., (PAVI Green), a wholly-owned subsidiary of Prime Asset Ventures Inc., has been tapped by PMFTC, the Philippine affiliate of Philip Morris International, for its planned 7-megawatt (MW) solar rooftop project. Know more:
BANGKO Sentral ng Pilipinas Governor Felipe M. Medalla said banking regulations are accompanied by initiatives that support the country’s shift from a cash-heavy to a “cash-lite” economy.
The Roadmap aims to digitalize at least 50 percent of retail transactions volume, and onboard at least 70 percent of Filipino adults into the formal financial system by 2023. In the DPTR document, former BSP chief Benjamin E. Diokno was quoted as saying the central bank’s “thrust to promote digitalization of payments is also strategically geared towards furthering financial inclusion as we view the two to be mutually reinforcing: they go hand in hand, with each one enabling the other.”
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High online remittance helps grow PERA funds - BusinessMirrorTHE total fund of the Personal Equity and Retirement Account (PERA) doubled year-on-year to P289.82 million as more Filipinos contributed to the fund via online platforms, the Bangko Sentral ng Pilipinas (BSP) said. A statement by the BSP said that as of September 8, the PERA fund was P149.06-million higher than the P140.76 million recorded
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September inflation at 6.9%, BSP vows policy moves - BusinessMirrorFILIPINOS have not seen the worst in high commodity prices as the government said the headline inflation rate may not have reached its peak yet and food is expected to become even more expensive, according to the Philippine Statistics Authority (PSA). To this, the Bangko Sentral ng Pilipinas (BSP) said it is “prepared to take
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PERA contributions climb - BusinessWorld OnlineMORE FILIPINOS invested in the electronic Personal Equity and Retirement Account (PERA), with contributors almost tripling since an online platform for the investment tool was introduced in 2020, the Bangko Sentral ng Pilipinas said on Tuesday. READ:
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BSP to public: Don't take ‘undue advantage’ of changing market conditions“We ask those who have the means not to take undue advantage of changing market conditions. This does not help the Philippine peso; it does not help the Philippines,” the BSP said in an emailed statement.“What we can do is to bring all transactions into an organized and accessible formal market that offers consumer protection,” it added.
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Philippines' 4-year high inflation boosts chances of more rate hikesThe September inflation rate, which was above the 6.7% forecast in a Reuters poll, was driven mainly by high food and utility prices and brought the average rate in the nine months to September to 5.1%, the statistics agency said on Wednesday, well outside the central bank's 2% to 4% target. The faster-than-expected inflation rate reinforced expectations the Bangko Sentral ng Pilipinas (BSP), which has so far raised rates by a total of 225 basis points this year, would deliver more rate hikes at its November and December meetings. ING Bank economist Nicholas Mapa said in a statement he expects the central bank to lift its key policy rate, currently at 4.25%, by 50 basis points at each of its two remaining meetings this year in to tame inflation.
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