According to a forex analyst from British banking giant HSBC, the Bangko Sentral ng Pilipinas (BSP) will continue to defend the Philippine peso to keep it below the 57 to US$1 exchange rate level. In its most recent currency outlook headlined “PHP: Defense Continues, But With Conditions,” Lenny Jin, a global foreign exchange strategist at […]
Less than a year after its inception, GoTyme Bank, a joint venture between the Gokongwei business and Singapore’s multi-country digital banking business Tyme, reported it has hit its one millionth customer milestone earlier this month. The digital bank, which was soft-launched in the Philippines in October 2022, attributes this remarkable achievement to its distinctive and […]
The Bangko Sentral ng Pilipinas (BSP) has announced recently the selection of Hyperledger Fabric as the distributed ledger technology (DLT) for its wholesale Central Bank Digital Currency (CBDC) pilot project: Project Agila, formerly known as “Project CBDCPh.” Project Agila aims to orient the BSP and participating financial institutions on CBDC technology solutions that have the […]
AMD has just announced the availability of its new enthusiast-class graphics cards — the Radeon RX 7800 XT and Radeon RX 7700 XT — which would finally complete the US-based chipmaker’s RDNA 3 lineup after announcing its first GPUs in November last year. Both cards are intended to target 1440p displays and run games at […]
The days of cheaper purchases from online stores could soon be over! This came about after Finance Secretary Benjamin Diokno expressed his support for the Bureau of Internal Revenue (BIR)’s plan to impose withholding tax on Internet merchants, saying doing so will help advance fairness for all vendors. “It doesn’t just result in higher […]
Globe Business solidifies its position in the digital transformation landscape as it announces a strategic partnership with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, to provide enterprises in the Philippines with access to their Cloud technology. Photo shows (from L-R:) Globe Business’ Cloud Portfolio Director, Jay Abada, and Vice President for […]
In order to constantly provide a smooth and great customer experience, the state-run Land Bank of the Philippines (LANDBANK) has announced plans to further extend both its physical and digital presence in underserved and unbanked regions. The announcement was made during simple rites to celebrate the bank’s 60 years of public service to the nation. […]
Starting October 2, mobile e-wallet GCash will be charging a “convenience fee” for withdrawals done via Bank of the Philippine Islands (BPI) and UnionBank. In the meantime, cashing out using GCash will still be free of charge according to the app’s help center. There are approximately 77 million GCash users as of March 2023 (CREDIT: […]
The Bangko Sentral ng Pilipinas (BSP) announced recently that it has successfully engaged with the Philippine Embassy in Riyadh, Kingdom of Saudi Arabia in promoting the BSP’s initiatives to develop Islamic banking and finance in the Philippines. BSP Assistant Governor Atty. Arifa A. Ala, Lead Advocate on Islamic Banking and Finance and also the Chairperson […]
Emerging tech issues in consumer protection and data privacy investigation were put in the spotlight at the just-concluded “Industry Day 2023,” which was held at the Ascott Makati. The Industry Day event was presented by the United States government with the United States Agency for International Development (USAID) in the country through the Strengthening Private […]
