MAYVELIN U. CARABALLO, TMT

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GOVERNMENT-LED Land Bank of the Philippines and Smart e-Money Inc. (SEMI) have partnered for the largest financial inclusion and literacy program for the beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps). Launched on Wednesday, the Panalo Sikap (Sa Ipon at Kabuhayan Aahon ka Pinoy) program is a mobile-based incentivized credit,…

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A total of 14 real properties amounting to P28.8 million have been sold by the Philippine Deposit Insurance Corp. (PDIC) in its recently concluded second public bidding for 2013. In a statement, the PDIC said that the P28.8-million bid received from the properties represented a premium of 10 percent, or…

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PHILIPPINE merchandise exports for the first half of the year went down by 4.4 percent to $25.6 billion. Data from the National Statistics Office (NSO) showed that aggregate exports from January to June were lower compared to the $26.7 billion recorded in the same period in 2012. For June alone,…

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Foreign direct investments (FDI) went down by 85.7 percent to reach $17 million in May 2013. A statement from the Bangko Sentral ng Pilipinas (BSP) said that higher withdrawals of equity capital and net repayments of debt instruments dragged down FDIs in May compared to the level recorded in the…

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The manufacturing industry, as measured by the value of production index (VaPI), grew at a slower rate of 1.5 percent in June from a two-digit increase of 10.6 percent in the previous month. According to the results of the Monthly Integrated Survey of Selected Industries (Missi) released by the National…

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The Bangko Sentral ng Pilipinas (BSP) has updated its existing information technology-related guidelines on banks and nonbank entities. In a statement on Tuesday, the central bank said that the Monetary Board approved the issuance of the enhanced information technology risk management (ITRM) framework to strengthen the IT-related activities of banks…

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Headline inflation for the second quarter of the year eased to 2.6 percent from the 3.2 percent recorded a quarter ago. In a press briefing, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo announced that the second-quarter inflation figure brought the year-to-date average inflation rate to 2.9 percent. It…

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Universal and commercial banks (U/KBs) showed strong credit risk management as their gross nonperforming loan (GNPL) ratio was on a nine-month low. In a statement on Thursday, the Bangko Sental ng Pilipinas (BSP) said that the GNPL ratio of U/KBs was recorded at 2.7 percent in May, and has been…

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THE Bureau of Internal Revenue (BIR) on Thursday filed tax evasion charges amounting to P28.52 million before the Department of Justice against three individuals. In a statement, the bureau said that it has filed a criminal complaint against an estate administrator in Quezon City identified as Lorenza Huang for the…

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The country’s gross international reserves (GIR) rose to $82.9 billion as of end-July 2013, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday. BSP Governor Amando Tetangco Jr. in a statement said that preliminary data showed that the country’s July GIR was higher by $1.7 billion than the end-June 2013…

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