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Philippines
Tuesday, May 21, 2024

Banking & Finance

Recto pushes digitalization to boost revenues

Finance Secretary Ralph Recto is pushing for digitalization and data sharing to boost the government’s revenue collections. Recto said with the majority of consumers shifting to the e-commerce market, there is a need for enhanced digitalization efforts and aligning practices with countries with advanced tax collection systems such as South Korea, Singapore and Japan. Data from the Philippine Statistics Authority (PSA) showed that the digital economy grew 7.7 percent to P2.05...

LandBank approves P2.68b worth of loans to OFWs

Land Bank of the Philippines said it continues to strengthen its commitment...

Peso plunges to 57.90 a dollar

The Philippine peso plunged to 57.90 against the US dollar Monday, the...

UnaCash and ComWorks Inc. expand smartphone access

In-app and in-store financial solutions provider UnaCash has partnered with ComWorks Inc....

LATEST Banking & Finance

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BSP eyes lower reserve requirement

The Bangko Sentral ng Pilipinas (BSP) said it expects to reduce banks’ reserve requirement ratio (RRR) by a “quite a bit” within the year. “I...

Gov’t secures $10-m grant from Green Climate Fund

The Department of Finance (DOF) said Friday it secured a $10-million grant from the Green Climate Fund (GCF) to bolster the government’s readiness in...

Maya says it closes credit gap for the unbanked, unhappily banked 

Maya, the country’s leading digital bank, said it continues to democratize banking by providing easy, secure and instant credit to Filipinos often overlooked by...

Early BSP rate cut risks higher inflation

An early interest rate cut by the Bangko Sentral ng Pilipinas (BSP) may risk higher inflation, according to Oxford Economics. Oxford Economics was responding to...

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