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Banking & Finance

Peso recovers, PSEi down on weaker Q2 GDP

The Philippine peso recovered against the US dollar Thursday but the Philippine Stock Exchange index (PSEi) weakened after a lower-than-expected growth of the domestic economy in the second quarter this year.

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NEDA sees 6 to 6.5% GDP growth in 2019

Socioeconomic Planning Secretary Ernesto Pernia on Thursday called for the fast-tracking of infrastructure projects and passage of investment-oriented laws after the economy expanded at a slower pace of 5.5 percent in the second quarter.

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BSP Governor Benjamin Diokno to co-chair the FSB Regional Consultative Group for Asia

BSP Governor Benjamin E. Diokno has been named as the incoming co-chair of the Regional Consultative Group for Asia of the Financial Stability Board (FSB-RCGA). The FSB is an international institution that recommends risk and prudential standards for the financial markets.

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Bank lending continues to grow in April – BSP

Preliminary data show that outstanding loans of universal and commercial banks, net of reverse repurchase (RRP) placements with central bank, grew at a slightly slower rate of 12.7 percent in April from 12.9 percent (revised) in March, the Bangko Sentral ng Pilipinas (BSP) disclosed in a statement over the weekend.

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BSP hails tax exemption for small-scale miners

Bangko Sentral ng Pilipinas (BSP) officials applauded the amendment of the National Internal Revenue Code that exempted small-scale miners from paying income and excise tax for the gold that they sell to the central bank.

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CHECK YOUR BANKNOTE: Public Advisory on Counterfeit Detection

The Bangko Sentral ng Pilipinas (BSP) advises the public to carefully check their Philippine banknotes for identifiable security features to ascertain their genuineness.  On 13 February 2018, the Navotas City Police arrested two counterfeiters who tried to pay a fish vendor using a counterfeit Php 1,000 banknote at the San Roque Public Market. The fish vendor, who doubted the authenticity …

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BSP Governor attends unveiling of Rizal bust in Czech Republic

BSP Governor Nestor A. Espenilla, Jr. attended the unveiling of the bust of Dr. Jose Rizal at the Czech National Bank (CNB), the central bank in Prague, Czech Republic on 25 June 2018 together with his wife, Mrs. Teresita Espenilla. This was one of the highlights of his bilateral meeting with his counterpart, CNB Governor Jiøí Rusnok.

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BSP launches the Digos City CSF

In partnership with the City Government of Digos, the Bangko Sentral ng Pilipinas (BSP) is launching the 52nd Credit Surety Fund (CSF) in the country on 25 June 2018.

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Landbank offers to buy Singapore Exchange’s PDSHC shares

State-owned Land Bank of the Philippines (Landbank) has offered to buy Singapore Exchange Ltd.’s (SGX) 20 percent stake, or 1.25 million shares, in the Philippine Dealing System Holdings Corp. (PDSHC) at P350 apiece.

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Peso remains strong vs. USD; PSEi slides anew

Political concerns in the US continue to worry investors resulting in the risk-off sentiment even in the Philippine equities market Thursday but the Philippine peso remained strong against the greenback.

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