Banking & Finance

The government is expected to issue more bonds next year that will reach about P465 billion to address increased funding needs in line with the programmed hike in infrastructure spending, banking giant Hongkong and Shanghai Banking Corp. (HSBC) said in a report.

By Riza Lozada Money supply (M3) has risen 12.8 percent from a year ago in October to P8.9 trillion from a growth of 12.7 in the previous month in line with the sustained growth of the economy despite a slight decline in bank lending.

PayMaya Philippines, formerly Smart eMoney Inc, a pioneer in financial technology services, and its long-standing partner, leading global payments company Mastercard, have renewed agreement to continue the use of PayMaya mobile payment gateway solutions by Mastercard in the global market.

A top-level Spanish delegation which visited Davao City last week has expressed Spain’s support for President Duterte’s 10-point socioeconomic agenda and lauded his ongoing peace initiatives with insurgent groups as well as his strong campaign against illegal drugs.

By Riza Lozada Monetary offi­cials plan to re­store regulatory incentives for bank mergers and acqui­sitions (M&A) to further strengthen the banking in­dustry, BSP Deputy Gover­nor Nestor Espenilla Jr. said.

The House committee on Banks and Financial Intermediaries has passed the proposal to amend the charter of the Bangko Sen­tral ng Pilipinas (BSP).

The Department of Finance (DOF) recently released its Peo­ple’s Freedom of Information (FOI) manual in keeping with the people’s constitutional right to information and the govern­ment’s policy of full disclosure of its transactions involving public interest, subject to reasonable conditions prescribed by law.

International payments service firm Visa has hosted its first-ever Financial Literacy Day for students in Manila, in cooperation with Teach for the Philippines (TFP) and the Money Museum at Bang­ko Sentral ng Pilipinas.

State pension fund Govern­ment Service Insurance System (GSIS) was chosen as a finalist in the Technology Innovation Award at the 7th World Pension Summit held last November 10 at The Hague, Netherlands.

By Riza Lozada Remittances from overseas Filipino workers (OFWs) grew 4.7 percent in the first nine months to $20 billion after $2.6 billion in money transfers were recorded in September.