Banking & Insurance
BOP reverts to surplus in 2023
The country’s balance of payments (BOP) position, essentially what is left of the country's foreign currency earnings after its expenses have been deducted, stood as a surplus of USD1.9 billion in Q4 2023, more than three times the USD568 million surplus recorded in Q4 2022.
Countries closing in on digital currencies but US lagging, study shows
A total of 134 countries representing 98 percent of the global economy are now exploring digital versions of their currencies, with over half in advanced development, pilot or launch stages, a closely-followed study on Thursday showed.
For the nth time, BSP says PhilID is official and sufficient proof of identity
The Bangko Sentral ng Pilipinas (BSP) has directed banks and other BSP-supervised financial institutions (BSFIs) to place the Philippine identification card (PhilID) at the top of the list of acceptable valid IDs, being the official government-issued ID.
Trade deficit narrows in January to USD4.22 billion as exports rise
The country's trade deficit in January narrowed to USD4.22 billion from USD5.56 billion in the year-earlier period, helped by the increase in exports and the decline in imports.
SC affirms jail sentence for fake money seller
The Supreme Court (SC) upheld lower court rulings that sentenced a man to prison for illegal possession and use of fake banknotes.
In a decision penned by Associate Justice Jhosep Y. Lopez, the SC’s Second Division denied the petition by Allan Gacasan that challenged the rulings of the Court of Appeals (CA) and the Regional Trial Court (RTC).
