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Tag: general

BSP wary of proposal to phase out large peso bills

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) appeared wary of proposals to withdraw large-denomination peso bills from circulation as a supposed deterrent to corruption, with Governor Eli Remolona Jr. warning that such a move could do more harm than good. Speaking to reporters on Monday, Remolona said the idea, while still under discussion,

Escudero’s lawyer seeks extension in filing affidavit before Comelec

MANILA, Philippines — The lawyer of Sen. Francis “Chiz” Escudero was unable to appear before the Commission on Elections (Comelec) on Monday to submit an affidavit with regards to the P30-million donation given to the lawmaker by a contractor, asking the commission for an extension instead. “We received information that the lawyer may ask for

BIZ BUZZ: Panglao Hole symposium?

Every year, the world’s top central bankers, policymakers, academics and market movers descend on Jackson Hole, Wyoming, for the Federal Reserve Bank of Kansas City’s high-profile symposium—a must-watch event where one stray comment can jolt global markets. Now, the Bangko Sentral ng Pilipinas (BSP) wants its own version of that. READ: BIZ BUZZ: Mapua opens

Megaworld allots P 3.4B to expand 3 townships

MANILA, Philippines – Developer Megaworld Corp. will spend P3.4 billion to expand three of its townships across the country, banking on the strength of its provincial projects to drive growth. In a regulatory filing on Monday, Megaworld said it would reinvest the proceeds raised from selling its shares in its real estate investment trust (REIT)

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