The Social Security System (SSS) has announced that its contribution increase will secure the fund’s long-term viability, extending its life until 2053. Effective this month, the 1-percent rate hike is mandated under Republic Act 11199, or the Social Security Act of 2018. The adjustment raises the contribution rate from 14 percent to 15 percent, accompanied by changes in the minimum …
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Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has announced that the central bank is exploring a subscription-based model for digital transaction fees to enhance the efficiency and inclusivity of the country’s payment systems. Speaking at a Rotary Club event in Makati City recently, Remolona explained the rationale behind the proposed shift. “In a payment system, every additional participant …
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Saturnino Mejia has been appointed as the new General Manager of the National Development Company (NDC), succeeding Antonio Mauricio, who has transitioned to the private sector. In a statement released Thursday, the NDC announced that Mejia officially assumed the role on December 16, 2024. Prior to his appointment, Mejia dedicated 25 years to the NDC as Assistant General Manager for …
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Bank lending saw its most significant growth in nearly two years, and domestic liquidity also accelerated in November, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data released by the BSP on Friday revealed that lending by universal and commercial banks (U/KBs) increased by 11.1 percent in November, marking the highest growth since the 13.7 percent rise recorded in …
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The Bangko Sentral ng Pilipinas (BSP) is expected to continue its easing cycle this year, though fewer rate cuts are anticipated following signals from the U.S. Federal Reserve about slowing its own rate cuts, according to BMI, a unit of Fitch Solutions. “The BSP is still on track to deliver another 25-basis-point cut at its next meeting. However, the overall …
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The Philippines and Japan have extended their Bilateral Swap Arrangement (BSA), securing a deal valued at up to USD12 billion, effective from January 1, 2025, the Bangko Sentral ng Pilipinas (BSP) announced in a statement recently. This renewal was officially confirmed through the signing of the Fourth Amendment and Restatement Agreement of the Third BSA by representatives from the BSP …
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One of the pioneers in herbal medicine unveils its newest natural health product this colds season. Say goodbye to sniffles and hello to wellness! Pascual Laboratories, one of the Philippines’ top pharmaceutical companies, introduces Pelargo, a natural solution to help ease common cold symptoms and keep you feeling your best this cold-weather season. PascualLab, one of the pioneers in phyto …
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What started as a small act of leisure at Casino Plus turned into an extraordinary turn of fate for a single mother. Here’s her true story about resilience, luck, and hope for a brighter future. Mother’s Unyielding Determination In a quiet neighborhood, a devoted mother poured her heart into raising her son, navigating the challenges of single parenthood. Her priority …
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By Jinky Jorgio The Bases Conversion and Development Authority (BCDA) plans to utilize waste-to-energy technology as a renewable energy source in the Clark Freeport and Special Economic Zone, in line with its goal of fostering smart and sustainable development. The BCDA is now conducting a study for a proposed waste-to-energy facility in an optimal location in Tarlac, which is being …
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The rehabilitation of key sections of the Maharlika Highway in Quezon Province has been prioritized for 2025 to improve road conditions and ensure smoother travel along this vital national rout. Department of Public Works and Highways (DPWH) Quezon 4th District Engineer Rodolfo Florido said the project will cover sections from Malikboy in Pagbilao to Santa Catalina in Atimonan, the town of …
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