philippines - Banking & Finance - News

Enactment of 2019 National Budget to spur Economic Growth

MANILA, Apr 16 (PNA) - Finance Secretary Carlos Dominguez III hailed the signing into law of the PHP3.7-trillion 2019 national budget, citing its importance towards attaining sustained growth of the Philippine economy. “We fully support the President in his desire to focus national expenditure on projects and activities that redound to t ...
Date: 16 April 2019; Type: Legal News; Source: Philippine News Agency

BSP extends Transitory Period for Banks' Amended Reports

MANILA, Apr 14 (PNA) - The Monetary Board (MB) approved the extension of transitory period of the amended report on bank interest rates on loans and deposits until 31 December 2019.
Date: 14 April 2019; Type: Legal News; Source: Philippine News Agency

Banks issue Advisories for April Holidays

MANILA, Apr 5 (PNA) - Several banks will close most of their branches nationwide on Tuesday for the commemoration of the Araw ng Kagitingan (Day of Valor).
Date: 05 April 2019; Type: Industry Updates; Source: Philippine News Agency

SEC makes Cease and Desist Order vs KAPA Permanent

MANILA, Mar 18 (PNA) - The Securities and Exchange Commission (SEC) has declared permanent an order barring Kapa-Community Ministry International, Inc. (KAPA) from soliciting investments from the public without the necessary license, the SEC disclosed in a statement on Monday.
Date: 18 March 2019; Type: Legal News; Source: Philippines News Agency

House agrees to recall its Version of 2019 Budget

MANILA, Mar 18 (PNA) - Senator Panfilo Lacson on Monday said the leadership of the House of Representatives has agreed to withdraw its own version of the proposed PHP3.757-trillion national budget for 2019.
Date: 18 March 2019; Type: Legal News; Source: Philippine News Agency

BSP starts formulating Roadmap for Securities Issuance

MANILA, Mar 8 (PNA) - A roadmap is now being formulated for possible securities issuance after the Bangko Sentral ng Pilipinas (BSP) has been authorized to issue debt paper under the central bank charter.
Date: 08 March 2019; Type: Legal News; Source: Philippine News Agency

Bill setting Minimum Capital and Requirements for Foreign Retailers approved

The House of Representatives approved on second reading House Bill No. 9057, which seeks to set the minimum paid up capital and locally produced stock inventory requirements for foreign retail business enterprises.
Date: 05 March 2019; Type: Legal News; Source: House of Representatives

PRRD urged to ‘promptly’ Name next BSP Chief

MANILA, Feb 24 (PNA) - Philippines’ economic journalists have called on President Rodrigo R. Duterte to “promptly” name the successor of Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla Jr., who died of cancer Saturday, to address any market uncertainty.
Date: 24 February 2019; Type: Industry Updates; Source: Philippine News Agency

House ratifies 2019 National Budget

MANILA, Feb 8 (PNA) - The House of Representatives on Friday ratified the bicameral conference committee report on the proposed PHP3.757 trillion national budget for 2019.
Date: 08 February 2019; Type: Legal News; Source: Philippines News Agency

House proposes Abandonment of the One Year Cash-Based Budgeting System

Rep. Rolando Andaya, Jr. (1st District, Camarines Sur), Chairman of the House Committee on Appropriations, proposed the abandonment of the one year cash-based budgeting system as proposed in the National Expenditure Program (NEP).
Date: 31 January 2019; Type: Legal News; Source: House of Representatives

Senate approves 2019 National Budget

MANILA, Jan 21 (PNA) - The Senate approved on third and final reading the proposed PHP3.757-trillion 2019 national budget or the General Appropriations Bill (GAB) on Monday.
Date: 21 January 2019; Type: Legal News; Source: Philippines News Agency

BSP, IMF host First Regional Dialogue on Financial Stability

MANILA, Jan 21 (PNA) - The Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) are co-hosting the Inaugural Regional Dialogue on Financial Stability (FS) for ASEAN Central Banks on Jan. 21-22 at the Philippine International Convention Center, with the theme, “Ensuring Financial Stability in the Region: Some Policy and ...
Date: 21 January 2019; Type: Legal News; Source: Philippine News Agency

PH Banking System resilient amid External Concerns

MANILA, Dec 31 (PNA) - The Philippine banking system has remained fundamentally strong despite having its share of challenges over the years, and 2018 proved to be no exception.
Date: 31 December 2018; Type: Industry Updates; Source: Philippine News Agency

House Panel to probe 'Budget Anomalies' in January

MANILA, Dec 13 (PNA) - The House of Representatives rules committee will start its investigation on the alleged “budget anomalies and questionable allocations” by the Department of Budget and Management (DBM) on January 3, Majority Leader Rolando Andaya Jr. announced on Thursday.
Date: 13 December 2018; Type: Industry Updates; Source: Philippine News Agency

SGMA Bill regulating Islamic Banking in PHL Hurdles Final Reading

The House of Representatives, voting 121-0 without abstention, approved on third and final reading House Bill 8281 or “An Act Providing for the Regulation and Organization of Islamic Banks” which is authored by former President and now Speaker Gloria Macapagal-Arroyo.
Date: 27 November 2018; Type: Legal News; Source: House of Representatives

House extends availability of 2018 Budget

MANILA, Nov 26 (PNA) - The House of Representatives on Monday approved on third and final reading a joint resolution seeking to extend the availability of the 2018 appropriations for maintenance and other operating expenses (MOOE) and capital outlays (COs) until Dec. 31, 2019.
Date: 26 November 2018; Type: Legal News; Source: Philippine News Agency

DBM adopts More Government Budgetary, Fiscal Reforms

TAGAYTAY CITY, Nov 23 (PNA) - The Department of Budget and Management (DBM) is adopting more budgetary and fiscal reforms for an innovative, effective, and responsive government in the long term, Budget Secretary Benjamin E. Diokno said on Thursday.
Date: 23 November 2018; Type: Legal News; Source: Philippine News Agency

BPI BanKo partners with BSP for Exchange of Unfit Currencies

MANILA, Nov 21 (PNA) - Ten branches of BPI Direct BanKo (BanKo) nationwide will start accepting unfit currencies starting December 3, 2018 as part of the bank's partnership with the Bangko Sentral ng Pilipinas (BSP), to jointly promote coins recirculation and the Clean Notes program.
Date: 21 November 2018; Type: Industry Updates; Source: Philippine News Agency

House approves Bill on Regulation of Islamic Banks

MANILA, Nov 20 (PNA) - A measure seeking to organize and regulate Islamic banks in the country hurdled final reading at the House of Representatives.
Date: 20 November 2018; Type: Legal News; Source: Philippine News Agency

House okays P3.757-T 2019 National Budget

MANILA, Nov 20 (PNA) - The House of Representatives on Tuesday approved on third and final reading the proposed PHP3.757-trillion 2019 national budget.
Date: 20 November 2018; Type: Legal News; Source: Philippine News Agency

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Right to Freedom of Religion guaranteed under Federal Constitution

KOTA BELUD, Apr 21 (Bernama) - The right to freedom of religion of every Malaysian is guaranteed under the Federal Constitution, said Sabah Rural Development Minister Datuk Ewon Benedick.

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Sabah and Sarawak High Court Registrar's Office to move to Kota Kinabalu

SANDAKAN, Apr 21 (Bernama) -- Minister in the Prime Minister’s Department Datuk Liew Vui Keong today confirmed that the Office of the Registrar of the Sabah and Sarawak High Court will be relocated from Kuching to Kota Kinabalu.

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Government awaits Approval from Malay Rulers on New Chief Justice - Mahathir

KUALA LUMPUR, Apri 19 (Bernama) - The government is awaiting approval from the Malay Rulers for the appointment of a new Chief Justice, Prime Minister Tun Dr Mahathir Mohamad said today.

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Double Pay for Workers on Maundy Thursday, Good Friday

MANILA, Apr 17 (PNA) - Workers who will report to work on April 18 and 19 will receive twice their regular daily wages as both days have been declared regular holidays, the Department of Labor and Employment (DOLE) said Wednesday.

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Palace suspends Government Work for Holy Week Exodus

MANILA, Apr 17 (PNA) - Malacañang suspended work on Wednesday (April 17), 12 noon onwards, to allow government employees to travel to their respective regions in time for the observance of Maundy Thursday (April 18) and Good Friday (April 19).

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JBC asks Applicant to comment on Gadon Opposition

MANILA, Apr 16 (PNA) - The Judicial and Bar Council (JBC) has asked an applicant for a vacancy in the Court of Tax Appeals (CTA) to comment on an opposition to her appointment filed last month by senatorial candidate and lawyer, Lorenzo "Larry" Gadon.

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PCC approves Ayala-PHINMA Energy Deal

MANILA, Apr 15 (PNA) - The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy.

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8,254 Workers Re-employed after getting Assistance from ESO

KUALA LUMPUR, Apr 16 (Bernama) - A total of 8,254 unemployed workers have been re-employed after receiving assistance from the employment service officers (ESOs) since the Re-Employment Placement Programme for Employment Insurance System (EIS) commenced in August 2018.

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Two Indonesians fined RM100,000 for Possessing Illicit Cigarettes

KLANG, Apr 16 (Bernama) - Two Indonesian retail shop workers were fined RM100,000 by the Magistrate Court here today after pleading guilty to possessing 854 packs of illegal cigarettes of various brands valued at RM1,668.56.

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"Go to the Mosque, get Closer to God," Judge advises Robber

IPOH, Apr 16 (Bernama) - "Go to the mosque, get closer to God, be a good person and stop taking drugs," Sessions Court judge Azman Abu Hassan told a palm oil fruit collector.

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Fake News Bill: Law Society refutes Online Flak over Alleged Silence

Law Society president Gregory Vijayendran said that the organization will share their views over the draft Protection from Online Falsehoods and Manipulation Act privately with policymakers, and has refuted online flak about its so-called "deafening silence".

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SC suspends Work in Courts for Holy Week

MANILA, Apr 15 (PNA) - The Supreme Court (SC) on Monday announced its modified work schedule for the Holy Week, starting with a half-day work on Wednesday.

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Fourth 'Justice Zone' opens in Pampanga

MANILA, Apr 13 (PNA) - The fourth Justice Zone in the country has been formally opened in Angeles, Pampanga by the Justice Sector Coordinating Council (JSCC).

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Indonesia Industrial Summit to be held on April 15-16

Jakarta, April 13 (ANTARA) - The Industry Ministry will organize the 2019 Indonesia Industrial Summit (IIS) themed "Implementation of Making Indonesia 4.0 Toward Top Ten Global Economies", in ICE BSD, Tangerang, Banten Province, on April 15 and 16.

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200 Lawyers gather in Kuala Lumpur for TerraLex

KUALA LUMPUR, Apr 13 (Bernama) - A total of 200 lawyers from 50 countries have gathered here for the TerraLex Global Meeting to discuss a wide variety of legal and economic issues impacting Malaysia.

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Chief Justice pens Touching Farewell to Colleagues

PUTRAJAYA, Apr 13 (Bernama) - "All I ask from you is to protect the judiciary no matter what others may say," said Tan Sri Richard Malanjum in his farewell message to the judges, officers and employees of the judiciary upon his retirement yesterday.

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Chief Justice Richard Malanjum retires

PUTRAJAYA, Apr 12 (Bernama) - Chief Justice Tan Sri Richard Malanjum retires today after serving 27 years in the judiciary.

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SC launches New Public-Friendly Website

BAGUIO CITY, Apr 11 (PNA) - Supreme Court Chief Justice Lucas Bersamin on Thursday launched the High Court's new and improved website, which includes a court locator directory for lower courts and an e-library of the tribunal's decisions and resolutions.

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