BSP raises key rates to tame inflation

THE PHILIPPINE central bank raised benchmark interest rates on Thursday for a fifth time this year to rein in persistently high inflation amid a struggling peso and hawkish US Federal Reserve. The Bangko Sentral ng Pilipinas (BSP) increased its overnight borrowing rate by 50 basis points (bps) to 4.25% effective Friday, and its corresponding lending […]

Tropical depression Florita to bring heavy rains in central, northern Luzon 

TROPICAL depression Florita is expected to bring heavy to intense rains in the eastern side of central and northern Luzon, the Philippine’s northern mainland, starting late Monday to Tuesday evening, state weather bureau PAGASA said on Sunday.   Florita, the 6th typhoon to enter the country this year, is seen to intensify into tropical storm category […]

BSP, PhilSA, DoST install satellite internet services for two rural banks

THE Bangko Sentral ng Pilipinas (BSP) and other agencies have test deployed satellite internet services for two rural banks to help boost their operations and give their clients better access to financial services in remote areas. The central bank, the Philippine Space Agency (PhilSA), and the Department of Science and Technology-Advanced Science and Technology Institute […]

Singapore steps up inflation fight with surprise central bank tightening

SINGAPORE — Singapore’s central bank tightened its monetary policy on Thursday, in an off-cycle move, saying the action would slow inflation as the city-state joins other economies scrambling to fight mounting price pressures. The Singapore currency jumped broadly after the news and was last up almost 0.7% to S$1.3963 per dollar, with economists expecting further […]

ESL students from Japan back in Cebu

FOREIGN students for English as a Second Language (ESL) programs have started coming back to Cebu.This was announced by the Department of Tourism in Central Visayas (DOT 7) on Thursday, June 9, 2022.The return of ESL students signals good prospects for the tourism industry moving forward.“The Department of Tourism Central Visayas, together with Philippine Department […]