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BSP orders GCash to resolve unauthorized deductions
The Bangko Sentral ng Pilipinas (BSP) has intervened in the ongoing issue of unauthorized deductions from GCash accounts, directing G-Xchange, Inc. (GXI) to swiftly address the problem and expedite refunds for affected users.
Foreign fund managers prefer equity over other forms of investment – data
Foreign direct investment (FDI) in the Philippines showed a decline of 14.5 percent year-on-year in August 2024, totaling USD813 million in net inflows, compared to US$951 million in August 2023, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).
Strong loan growth and liquidity trends in September
Preliminary data from the Bangko Sentral ng Pilipinas (BSP) highlighted continued growth in lending and domestic liquidity in September, reflecting robust economic activity and financial stability.
Foreign currency reserves remain strong at US$112.43B in October
The country's gross international reserves (GIR) stood at USD112.43 billion as of end-October 2024, slightly lower than the USD112.71 billion recorded at the end of September 2024, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
Philippine economy grows a slower 5.2% in 3Q
The Philippine economy expanded by 5.2 percent year-on-year in the third quarter, a slower pace mainly due to the contraction in agriculture as a result of El Niño and several typhoons that negatively impacted farm output, along with a moderation in the growth of industry and services.
