Banking & Insurance
Slower M3 helps push loans 7.8 percent higher in June
Domestic liquidity or M3, which ensures the economy is sufficiently fueled with money without risking inflation, grew at a slower pace of 5.9 percent to ₱16.4 trillion in June 2023 from 6.6 percent in May.
Telco and partner introduce “nano loans”
Financial super app GCash and Fuse Lending Inc. have launched "sakto" loans that enable users to borrow amounts as low as P100.
Out of pocket expense for ill health seen expanding
Out of pocket healthcare expense, by itself already problematic for the greater number of Filipinos, is bound to get worse in the years ahead, according to an assessment by the insurer AXA.
ASEAN 5 welcomes Viet Nam central bank to RPC initiative
State Bank of Vietnam (SBV), the central bank of Viet Nam, has officially joined the Regional Payment Connectivity (RPC) initiative. This development is an expansion of the Memorandum of Understanding on Cooperation in Regional Payment Connectivity (MOU RPC) initiated by the central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand at the sidelines of the G20 Leaders’ Summit on 14 November 2022 in Bali.
Commerce Secretary Raimondo: Crucial US, China have stable economic relationship
U.S. Commerce Secretary Gina Raimondo opened talks with Chinese government officials on Monday saying it is "profoundly important" the world's two largest economies have a stable economic relationship.
