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Global payments firm Wise is urging the Bangko Sentral ng Pilipinas (BSP) to enhance transparency on foreign exchange markups in international remittances. Wise estimates that Filipino individuals and businesses may have lost approximately P50 billion in 2024 due to these hidden charges.
Central banks in the Asia-Pacific region, including the Bangko Sentral ng Pilipinas (BSP), have agreed to establish a task force for enhanced information sharing to combat digital scams. Discussions also covered the impact and risk management of AI in financial systems.
The Payments Network of the Philippines Inc. (PNPI), the integrated payments entity of BancNet and PCHC, has elected its new board of directors and officers. BDO's Nestor Tan was elected chairman, and Metrobank's Fabian Dee was elected president.
Digital payments are now critical economic infrastructure in the Philippines, placing a heavy burden on financial institutions and regulators to ensure system resilience, combat fraud, and leverage digital access for broader financial inclusion. Expanding credit access for SMEs and individuals with fragmented financial information is a key future challenge.
The Philippine government plans to launch a retail Treasury bond (RTB) offering in the second half of the year, providing individual investors with another opportunity to purchase government securities. The timing will be determined by carefully assessing market conditions and the government's financing needs.
The Bangko Sentral ng Pilipinas (BSP) emphasized that expanding financial inclusion requires not only higher account ownership and digital payment usage but also reduced transaction costs and improved service accessibility. Cost remains a significant barrier to digital payment adoption, especially for lower-income Filipinos.
The Philippines has received international recognition for its progress in digital governance, earning a UN E-Government Award. The implementation of platforms like the eGovPH Super App has significantly accelerated and simplified administrative processes, enhancing citizen convenience.
Three people, including a police civilian employee, were killed and two others wounded in separate gun attacks in three neighboring provinces of the Bangsamoro region over the past two days, raising concerns about escalating insecurity.
The Department of Migrant Workers (DMW) has provided P2.6 million in financial aid to 52 distressed Overseas Filipino Workers (OFWs). This assistance, part of the government's UPLIFT program, aims to offer immediate support to OFWs and their families facing emergencies.
Top Line Business Development Corp. has launched its first Light Fuels branded service stations in Negros Oriental, expanding beyond its home base in Cebu. The move is driven by the region's economic growth, positioning it as the third fastest-growing in the Philippines.
Eighteen local government units (LGUs) and key partners in Naga City have formed the Metro Naga Coalition on Anti-Stunting and Literacy. The initiative aims to strengthen early education foundations, addressing critical issues of child stunting and reading proficiency nationwide.
Police in Bulacan, Philippines, are reportedly pursuing significant leads in the slaying of a 31-year-old woman and her two children, whose bodies were found in an abandoned vehicle. Investigators are working to identify the perpetrators.
The Philippine Coast Guard rescued two fishermen who had been drifting off Balayan, Batangas due to engine trouble. They lacked communication equipment and were eventually spotted by fellow fisherfolk after hours adrift.
The Philippine Department of Health (DOH) is considering training existing healthcare workers to provide mental health support, aiming to address the shortage of psychiatrists and psychologists. This initiative seeks to increase personnel capable of initial interventions and counseling.
The Land Transportation Franchising and Regulatory Board (LTFRB) has summoned a public utility jeepney (PUJ) operator to explain why its franchise should not be revoked or suspended after one of its drivers was caught driving against traffic in Quezon City. The driver has also been summoned for a hearing.
The Philippine Stock Exchange Inc. (PSE) has approved Robinsons Retail Holdings Inc.'s (RRHI) voluntary delisting, ending its nearly 13-year run as a listed company. RRHI cited that market valuations no longer reflected its intrinsic value as the reason for its delisting.
Quiapo Church has begun security planning for the Nazareno 2027, acknowledging the challenges posed by millions of devotees and Manila's narrow streets, following last year's nearly 31-hour procession.
The vice mayor of Marantao town in Lanao del Sur, Philippines, has been arrested on charges of murder and frustrated murder, identified as a high-priority wanted person in the region.
Bank of Commerce (BankCom) plans to tap the domestic bond market again in the second half of the year to fund future growth. Despite a cautious lending stance due to high interest rates and geopolitical uncertainty, the bank prioritizes profitability.
A construction worker died and two others were injured in a collision between two motorcycles in Urdaneta City, Pangasinan, on Friday night. The incident occurred in Barangay Sta. Lucia, with further investigation underway.
Bicol Saro Party-list Rep. Terry Ridon has urged the Cybercrime Investigation and Coordinating Center (CICC) to investigate fake quote cards circulating on social media, falsely attributing statements to defense lawyer Michael Poa and appearing to target Ridon. This action comes amid Ridon's role as a member of the House prosecution panel in the impeachment proceedings against Vice President Sara Duterte.
The House prosecution panel has no objection to the Senate's plan to move Vice President Sara Duterte's impeachment trial to 3 p.m. to expedite the process. The prosecution also supports extending hearings until the evening and adding more trial days.
State prosecutors dismissed cyber libel and Data Privacy Act complaints filed by a city government official against broadcast journalist Menzie Montes over a report on delayed public scholarship benefits in Cagayan de Oro City. The ruling highlights the tension between press freedom and privacy rights.
The Office of the Civil Defense (OCD) has warned of potential ashfall following an eruption at Kanlaon Volcano on Negros Island. The Philippine Institute of Volcanology and Seismology (Phivolcs) reported ash emission and continues to monitor the volcano's activity.
The search for 17-year-old Sofia Isabela Magalgalit Oria, who went missing in Sagada early on August 9, entered its 14th day on Saturday. Responders from Mountain Province and neighboring areas are expanding their efforts across Sagada's rugged terrain.
The municipality of Suyo in Ilocos Sur, Philippines, celebrated its ninth anniversary as a declared drug-free community, a testament to the sustained efforts of its residents and local government.
The Department of Public Works and Highways (DPWH) is considering the adoption of modern mountain technologies to address persistent erosion and landslide issues in the Cordillera region, acknowledging the inadequacy of past practices.
The Land Transportation Franchising and Regulatory Board (LTFRB) in the Philippines has issued a show-cause order to a jeepney operator for counterflowing in Quezon City, demanding an explanation why its franchise should not be suspended or revoked following a viral video.
A Philippine congressman has described the testimony of witness Gina Acosta in the probe into Vice President Sara Duterte's alleged misuse of confidential funds as a "smoking gun." The remark comes as Acosta was presented as a hostile witness, raising questions about the future course of the proceedings.
Albuera Mayor Rolan “Kerwin” Espinosa has surrendered his loose firearms to the local police, stating he complied with the directive to demonstrate his commitment to following the law.
Authorities in the Ilocos region have accounted for 155 firearms, either surrendered or seized, during a three-day anti-criminality and law enforcement operation from August 17 to 19. The operation aimed to bolster crime prevention and law enforcement across the region, with four firearms specifically seized in targeted operations.
Public Works Secretary Vince Dizon has ordered immediate and long-term solutions to address the persistent flooding around the Strawberry Farm in La Trinidad, Benguet, which has plagued the area for over two decades. Dredging and pump installation are being considered.
Department of Education (DepEd) schools in the Philippines' Region 11 are facing a significant security personnel shortage, with only 1,295 guards for nearly 2,000 schools serving over 1.1 million students. This data, revealed in a 'School Safety and Security Audit' following a recent school shooting, highlights an urgent need to bolster safety measures.
The Philippine National Police (PNP) reported the arrest of Eli Eskandar, vice mayor of Marantao town in Lanao del Sur, on Friday for separate murder and frustrated murder charges. The arrest occurred amidst increased enforcement of the gun ban during the election period.
A vulnerable Philippine duck and a critically endangered giant golden-crowned flying fox were sighted in Masbate, highlighting the importance of mangrove and coastal habitats. The sightings occurred during a biodiversity monitoring survey in Barangay Halabangbaybay, San Pascual.
The Department of Environment and Natural Resources (DENR) has temporarily suspended hiking activities at Mt. Pico de Loro from August 21 to September 12 due to damage from recent typhoons and the southwest monsoon, allowing for cleanup and rehabilitation.