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MANILA, Philippines — A businessman from Mindanao said he lost over P5 million to a group of people who offered him a cut of P700 million from the sale of over P17-trillion worth of “Marcoses’ gold” allegedly…
With the peso-dollar exchange rate now seemingly courting P60 to the dollar, our economy appears to be suffering from a case of LDM, or loose dollar movement. Dollars are indeed flowing out of the country for various…
MANILA, Philippines – A bill seeking to protect senior citizens from cybercrimes such as text scams. has been filed by Senator Jose “Jinggoy” Estrada. In a statement on Sunday, Estrada said he filed Senate Bill No. 671 or…
MANILA, Philippines — Introducing the automated coin deposit machine (CoDMs), the latest of the government’s stratagems to promote the re-circulation of coins and persuade Filipinos to use the low-value currency in their daily transactions. In partnership with…
MANILA, Philippines—Is it time to kick the habit of folding banknotes? Recently, a netizen shared dismay online after a popular mall in the country allegedly refused to accept a folded 1,000-peso polymer banknote that she used for…
MANILA, Philippines—While President Ferdinand Marcos Jr. expressed disbelief at the June 2022 inflation rate announced by state statisticians, saying that “we’re not that high,” the Philippine Statistics Authority (PSA) declared that it “stands by its data.” The…
CEBU CITY, Philippines – The Bangko Sentral ng Pilipinas – Visayas Regional Office (BSP-VRO) announced on Tuesday, July 5, that the new P1,000-piso polymer banknote will start its circulation in Cebu and Bohol in the coming months.…
The Bangko Sentral ng Pilipinas (BSP) has been criticized—wrongly, I think—for being “dovish,” “behind the curve,” or not acting fast enough in response to speeding inflation and exchange rate movements. It seems to me that economists (as…
The Monetary Board has ordered Metro-Cebu Public Savings Bank to stop doing business and be placed under liquidation, the fifth bank to be shuttered so far this year. Earlier this year, the MB sent out similar orders…
MANILA, Philippines — With incidents of unauthorized transactions in some teachers’ bank accounts, how can users ensure they would not fall victim to a phishing scam? According to a primer of the Bangko Sentral ng Pilipinas (BSP), phishing happens…
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) on Sunday moved to allay public fears triggered by mounting complaints on social media of several bank accounts reportedly being hacked and funds being transferred to the cybercriminals’…
CEBU CITY, Philippines — Agents of the Criminal Investigation and Detection Group (CIDG-7) arrested on Tuesday evening a 36-year-old man who allegedly manufactures counterfeit money in an entrapment operation in Barangay Basak-San Nicolas in Cebu City. Police…
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