BSP official gives his take on money on digital wallets, banks

Niña Mae C. Oliverio 11/21/2024

CEBU CITY, Philippines — Our world today has surpassed digitization. Most, if not all, of the transactions have migrated to online platforms, and companies are integrating digital technologies to improve their services to clients. One example of…

Filipinos lead in generative AI adoption at work, report shows

Alden Monzon - @inquirerdotnet 11/21/2024

Nearly half (46%) of surveyed Filipinos use generative AI at work monthly, slightly above the global average, according to a Wednesday report by Jobstreet. The data comes from the Decoding Global Talent Report 2024 by SEEK, which…

How to pay lower SEC penalties? ECIP explained

Pia Piquero 11/21/2024

CEBU CITY, Philippines — Corporations grappling with delinquent, suspended, or revoked statuses have an opportunity to regain their good standing at reduced penalties through the Securities and Exchange Commission’s (SEC) Enhanced Compliance Incentive Program (ECIP). As the…

Peso drops to 58.9 to a dollar, lowest level in 2 years

Ian Nicolas P. Cigaral - @inquirerdotnet 11/21/2024

MANILA, Philippines — The Philippine peso dropped on Wednesday close to a few centavos away from a record level of 59.  It is, however, its lowest level in over two years as the Philippine peso was overpowered…

PH still dependent on imported vehicles

Alden M. Monzon 11/21/2024

Imported vehicles still dominate the roads in the Philippines, with a government official pointing out that seven in every 10 automotive vehicles sold in the country were manufactured overseas. In turn, the Board of Investment’s (BOI) stressed the…

Probe on unauthorized GCash deductions to be completed December

Anna Leah Gonzales - Philippine News Agency 11/20/2024

CEBU, Philippines – The Bangko Sentral ng Pilipinas (BSP) investigation on unauthorized deductions in mobile payment provider GCash is expected to be completed by the second week of December. “We want to be thorough in this because…

DTI releases 2024 Noche Buena products price guide

Anna Leah Gonzales - Philippine News Agency 11/20/2024

MANILA – The Department of Trade and Industry (DTI) has released the 2024 Noche Buena products price guide, noting many of these essential items have remained at their 2023 prices while others have even decreased. In a…

Balamban solar facility among 3 new economic zones approved

Alden M. Monzon 11/19/2024

A solar facility in Balamban town, western Cebu was among the three newly approved economic zones. The Philippine Economic Zone Authority (Peza) on Monday said it had approved the registration of three new economic zones that are…

Peso could drop to 59; BSP plans intervention

Philippine Daily Inquirer 11/19/2024

A peso depreciation to record-low 59:$1 “looks likely” as the currency continued to be overpowered by a rallying dollar, although a deeper fall beyond that level is unlikely as the Bangko Sentral ng Pilipinas (BSP) stands ready…

Danao City inks sisterhood agreement with Japan’s Kashima City

Niña Mae C. Oliverio 11/17/2024

CEBU CITY, Philippines — The local government of Danao in northern Cebu and Kashima City in Japan have strengthened their partnership through a sisterhood agreement. The officials of Kashima City led by Shinichi Taguchi visited Danao City…

October inflation in Cebu rises to 2.8% as typhoon effects, food costs take their toll

Niña Mae C. Oliverio 11/17/2024

CEBU CITY, Philippines — After observing a significant downtrend in the inflation rate in September 2024, Cebu Province’s inflation rate accelerated to 2.8 percent in October, as reported by the Philippine Statistics Authority Cebu (PSA-Cebu). PSA Cebu…

OFW remittances hit $3.34 billion in September

Alden Monzon - @inquirerdotnet 11/16/2024

Overseas Filipinos’ remittances grew by 3.2 percent in September, matching August’s growth and marking the second-fastest rate this year. According to the Bangko Sentral ng Pilipinas (BSP), remittances reached $3.34 billion, up from $3.23 billion in September…

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