Business

The Department of Finance (DOF) expects dividends from government-owned and controlled corporations (GOCCs) to exceed PHP100 billion this year, signaling another strong performance in non-tax revenue collection. As of May 15, the DOF reported that GOCCs had already remitted over P76 billion in dividends, with contributions coming from about 50 entities. Among the top contributors were the Land Bank of …

The Philippine Deposit Insurance Corporation (PDIC) has officially expanded its deposit insurance coverage to include Islamic banks (IBs) and Islamic banking units (IBUs), ensuring that depositors in these institutions enjoy the same level of protection as those in conventional banks. In a statement released Wednesday, PDIC confirmed that Islamic bank deposits are now insured up to the Maximum Deposit Insurance …

The Bangko Sentral ng Pilipinas (BSP) has joined forces with the Microfinance Council of the Philippines, Inc. (MCPI) and the Rural Bankers Association of the Philippines, Inc. (RBAP) to broaden financial education initiatives for underserved communities. Through this partnership, BSP, MCPI, and RBAP will provide training to microfinance institutions and rural banks, equipping them to deliver financial learning sessions aimed …

Despite global uncertainties, the Philippine economy remains resilient and is poised for moderate growth, according to the International Monetary Fund (IMF). Following a series of consultations in Manila from May 14 to 20, IMF Mission Chief Elif Arbatli Saxegaard reported that the country’s gross domestic product is projected to expand by 5.5% in 2025 and 5.8% in 2026. “The Philippine …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said on Friday that at least two additional interest rate cuts could be implemented this year, supported by easing inflation and improved economic conditions. “So far, the hard data says we have plenty of room to cut, especially since inflation is low,” Remolona said during a press briefing at the BSP …

The Bangko Sentral ng Pilipinas (BSP) warns the public regarding the fraudulent use of BSP Deputy Governor Chuchi G. Fonacier’s image to offer online jobs. The BSP said it has received reports of unsolicited Viber messages from a sender using the Deputy Governor’s photo, offering jobs in an e-commerce company with daily earnings ranging from P500 to P5,000. The BSP …

Zeno Ronald R. Abenoja took his oath of office as the new Bangko Sentral ng Pilipinas (BSP) Deputy Governor  for the Monetary and Economics Sector before BSP Governor Eli M. Remolona, Jr. last May 19 at the BSP Head Office in Manila. Abenoja, who succeeds DG Francisco G. Dakila, Jr., will lead BSP’s monetary policy, economic research, and statistical operations. …

Two years after the tragic fire that destroyed the iconic Manila Central Post Office last  May  21, 2023, the Philippine Postal Corporation (PHLPost) made a significant step forward in its mission to rebuild and restore the national treasure. PHLPost is preparing to publish the Terms of Reference (TOR) for the Detailed Architectural and Engineering Design (DAED) of the structure, opening …

The SM foundation received the Silver Stevie Award for Innovation in Community Relations or Public Service Communications and the Bronze Stevie Award for Innovation in Corporate Social Responsibility (CSR) Videos. These accolades underscore SM Foundation’s commitment to harnessing the power of storytelling to drive social development. The Asia-Pacific Stevie Awards honor innovation in business across 29 markets in the region. …

Bird enthusiasts and nature lovers have a new reason to flock to La Mesa Ecopark (LME), as the ecological sanctuary emerges as one of Metro Manila’s urban birdwatching destinations. In partnership with the Wild Bird Club of the Philippines, La Mesa Ecopark is conducting regular birdwatching activities which aim to bring the park’s rich biodiversity out in the open, out …