Proposed wage hikes impose 30% added costs for employers
A top official of a national employers’ group warned that a P150 legislated daily wage increase will inflict “incalculable damage” on the economy and urged instead for more sustainable alternatives to help workers cope with the rising cost of living.
BSP Islamic banking team receives Presidential Lingkod Bayan Award
The Islamic banking and finance (IBF) core team of the Bangko Sentral ng Pilipinas was named regional winner of the Presidential Lingkod Bayan Group Award for their work in developing Islamic finance in the country. The group's efforts have boosted stakeholder engagement and inter-agency cooperation, implemented key regulations and built capacities to support the Islamic Banking Law.
Technology adoption raises services firms’ productivity
The adoption of digital technologies increases services firms’ productivity and structural reforms that open the services sector to greater competition can spur productivity growth, a World Bank report said.
Gilas outclass Jordan in Asian Games finals, ends 61-year wait for Asiad gold
It was the toughest of roads that Gilas took to get to the basketball finals of Asian Games, and that made the Philippines’ gold medal-clinching victory in the Asiad after a 61-year-long wait even sweeter.
Debt payments, diminished gold value push GIR lower in September
The country's gross international reserves (GIR), an indicator of capacity to pay maturing foreign debt and trade obligations, stood lower in September to $98.7 billion from $99.6 billion, the Bangko Sentral ng Pilipinas (BSP said on Friday.
