Manufacturing sustains growth in first half of 2018

 

 

By Rose de la Cruz

Manufacturing sustained its growth strength during the first six months of 2018 and is seen to continue in the coming months.

 “The positive performance of manufacturing is expected to continue in the first semester, amid the sustained economic growth momentum, increased net foreign direct investments, higher OFW cash remittances, and favorable merchandise trade,” said Socioeconomic Planning Secretary Ernesto M. Pernia.

In the Monthly Integrated Survey of Selected Industries (MISSI) of the Philippine Statistics Authority, the Volume of Production Index (VoPI) for manufacturing grew by 13.6 percent in March 2018, slightly higher than the…

Read more: Manufacturing sustains growth in first half of 2018

BSP issues rules to make credit readily available to consumers

 

 

By Rose de la Cruz

 

To make consumer credit readily available under safe, sound, efficient and fair business conditions aligned with global best practices, the Monetary Board—Bangko Sentral ng Pilipinas’ policy-making body, issued the implementing rules and regulations for RA 10870 or the Philippine Credit Card Industry Regulation Law.

 

The IRR provides the framework for the entry of new players in the credit card business beyond just the banks, their affiliates and subsidiaries.

 

Opening up the market to a wide range of players can lead to more transparent and competitive interest rates, innovative products and…

Read more: BSP issues rules to make credit readily available to consumers

BSP Approves Separate Credit Limits for Stand-Alone Projects

 

In support of the government's Build, Build, Build initiative, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) amended regulations providing entities created as vehicles to implement major projects [often Special Purpose Entities (SPEs)] with a separate single borrower's limit (SBL).

The SBL is currently at 25 percent of a bank's/quasi-bank's (Q.B) net worth. Such SPEs were given their own separate SBL in consideration of the independence they usually enjoy under project finance schemes.

Under these schemes, SPEs are ring-fenced by appropriate legal structures, operational set up, and controls so that assets and cash flows of SPEs…

Read more: BSP Approves Separate Credit Limits for Stand-Alone Projects

Phl banking system remained sound in 2017

 

By Rose de la Cruz

 

The Philippine banking system remained sound in 2017 with a positive performance despite volatilities in market conditions and increasing sophistication of global financial services.

 

The banking system, which is the core of the financial system of the country, strengthened their balance sheets with positive double -digit growths in assets, loans, investments, deposits and capital.

 

Banks sustained their profitability which came from strong interest income from lending activities. The banking system posted an annual asset expansion of 11.6 percent to P15.2 trillion driven by a 16.4 percent loan expansion to P8.9 trillion…

Read more: Phl banking system remained sound in 2017

Remittances up by 5.4% in February 2018

 

 

By Rose de la Cruz

 

Remittances of overseas Filipinos hit $2.5 billion in February, up by 5.4 percent from those sent during the same period last year, said Bangko Sentral Governor Nestor Espenilla Jr.

 

This brings the cumulative remittances for the first two months to $5.2 billion, or higher by 8.1 percent on a year on year growth.

 

Land-based workers with work contracts of one year or more recorded a 6.5 percent growth to $4 billion while those from sea-based and land-based workers with work contracts of less than one year…

Read more: Remittances up by 5.4% in February 2018

Like us in Facebook

Features

Latest News

Draft Ph. Export Development Plan supports PDP2017-2022

    By Rose de la Cruz   The National Economic and Development Authority said that the proposed Philippine export development plan (PEDP) to boost... Read More...
Remittances surge to $10.4-B in 1st 4 months of 2018

    By Rose de la Cruz   Remittances from overseas Filipinos rose to $10.4 billion in January to April 2018, up by 4 percent hitting $2 billion... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Wrong Dream Girl and Other Laughs

Wrong Dream GirlA FROG telephones the Psychic Hotline. His Personal Psychic Advisor tells him, "You are going to meet a beautiful young girl who will... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...
IMAGE PAGIGING MAKABAYAN

KAMAKAILAN ay tumawag ng atensyon ang plano ni Sen. Manny Pacquiao na maghain ng panukalang batas na naglalayon na isama bilang bahagi ng curriculum... Read More...
IMAGE PUTULIN ANG MONOPOLYO NG MERALCO!

SUPORTADO nang ibat-ibang consumer group kabilang na ang Institute for Consumer Research and Empowerment (ICORE) ang panukalang dapat putulin na ang... Read More...

Our Guests

Today328
Yesterday1033
This week1361
This month20042
Total982675

Visitor Info

  • Your IP: 54.80.198.173

Who Is Online

28
Online

Monday, 25 June 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.