Cash remittances rose to $3.035B in August 2026 -- BSP data

GMA Network - Oct 15, 2026

Cash remittances from overseas Filipinos increased year-on-year in August 2026, data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed.

Read full article

More News

InstaPay, PESONet fund transfers hit P25T

Oct 15, 2026

InstaPay, PESONet fund transfers hit P25T

MANILA, Philippines — Filipinos moved more than P25 trillion in funds through the InstaPay and PESONet systems from January to September, as lower transaction fees promote rapid adoption of digital payments. Data from the Bangko Sentral ng Pilipinas (BSP) showed that the combined value of transactions coursed through the two automated clearing houses surged 45 percent

SLIMTC set to exit trust products business

Oct 15, 2026

SLIMTC set to exit trust products business

MANILA, Philippines — Sun Life Investment Management and Trust Corp. (SLIMTC) will exit the trust products business as it undergoes a “planned and orderly transition,” Sun Life Philippines announced on Wednesday. According to Sun Life, the decision came after a “review of the company’s businesses and strategy in the Philippines,” with Sun Life Special Adviser to

Shaping the future of agriculture from mill to meal

Oct 15, 2026

Shaping the future of agriculture from mill to meal

MANILA, Philippines — Food is the foundational driver of economic growth: it builds human capital, powers labor productivity, and mitigates healthcare costs. Meeting today’s economic challenges requires more than just producing higher output volumes. It demands food systems that can withstand disruptions while adapting to evolving consumer needs. This shift is unfolding rapidly across Asia, where

BSP adopts risk-sensitive bank capital rules

Oct 15, 2026

BSP adopts risk-sensitive bank capital rules

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is adopting a new capital requirement for banks to ensure they hold enough funds to cover potential operational losses, aligning local prudential standards with international norms. Under Circular No. 1241, dated Oct. 9, the central bank adopted the Basel III New Standardized Approach (NSA), which banks will

BIR requires 5-year accreditation for e-invoicing providers

Oct 15, 2026

BIR requires 5-year accreditation for e-invoicing providers

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has mandated electronic invoicing service providers (ESPs) to obtain a five-year accreditation and has implemented measures to prevent excessive fees and vendor lock-in. Under Revenue Memorandum Circular No. 110-2026, the BIR mandates that ESPs secure accreditation before they can deploy electronic invoicing solutions commercially, and it will

Napocor seeks extra P10.82B for missionary electrification

Oct 15, 2026

Napocor seeks extra P10.82B for missionary electrification

MANILA, Philippines — State-run National Power Corp. (Napocor) hopes to secure regulatory approval to collect P10.82 billion from on-grid electricity consumers to support service to additional remote areas through new power providers. In its filing with the Energy Regulatory Commission (ERC), the state-run company seeks an additional P0.0939 per kilowatt-hour (kWh) in the universal charge for

Mainland China, Hong Kong stocks fall as US inflation spurs Fed tightening concerns

Oct 15, 2026

Mainland China, Hong Kong stocks fall as US inflation spurs Fed tightening concerns

Stocks on the Chinese mainland and in Hong Kong slumped as a hot reading on US inflation boosted bets that the Federal Reserve will raise interest rates. The CSI 300 Index slid 1.3 per cent and the chip-heavy Star Market 50 gauge tumbled 2.3 per cent. The Hang Seng Index fell 0.9 per cent to 24,094.03 as of 9.39am local time. The Hang Seng Tech Index dropped 1.9 per cent. The probability that the Fed would boost the benchmark borrowing cost by 25 basis points in December had risen to 66 per cent...

Thai floods may hurt PH vehicle supply, Toyota warns

Oct 15, 2026

Thai floods may hurt PH vehicle supply, Toyota warns

MANILA, Philippines — Toyota Motor Philippines Corp. warned that nearly a month of flooding in Thailand could disrupt shipments of some of its imported vehicles. Since mid-September, floods have inundated parts of Thailand, resulting in at least 71 deaths and disrupting operations at several automakers and parts manufacturers. This disruption includes Toyota’s three manufacturing plants

DA denies graft claims over Vietnam rice shipment

Oct 15, 2026

DA denies graft claims over Vietnam rice shipment

MANILA, Philippines — The Department of Agriculture (DA) has disputed corruption allegations over a blocked rice shipment from Vietnam, saying the agency itself ordered its cancellation even though the vessel was already en route to the Philippines. Agriculture Secretary Francisco Tiu Laurel Jr. said his office ordered the Bureau of Plant Industry (BPI) to cancel

El Niño threatens 10% drop in Q3 rice, corn output

Oct 15, 2026

El Niño threatens 10% drop in Q3 rice, corn output

MANILA, Philippines — The strong El Niño and unfavorable weather conditions threaten to reduce the country’s palay (unmilled rice) and corn output by more than 10 percent in the third quarter of 2026. The Philippine Statistics Authority (PSA) estimates that palay production will reach 3.10 million metric tons (MT) from July to September, marking a 17.2

Li Ka-shing empire expands oil interests, turning heads in market

Oct 15, 2026

Li Ka-shing empire expands oil interests, turning heads in market

As global capital flows towards clean energy and artificial intelligence, Hong Kong billionaire Li Ka-shing’s business group has expanded its oil exposure in a move analysts see as a buffer against geopolitical risks and a play for steady cash flow. The first major investment move by the widely watched Hong Kong tycoon after a slew of asset sales across the world has stirred curiosity at a time when financial markets are more volatile amid rising fears of inflation, monetary tightening and...

How Jardine Matheson’s street-shop sale reflects Hong Kong retail property’s struggles

Oct 14, 2026

How Jardine Matheson’s street-shop sale reflects Hong Kong retail property’s struggles

Amid Hong Kong’s commercial property downturn, British conglomerate Jardine Matheson has sold a street shop in Causeway Bay for HK$80 million (US$10.2 million) after holding it for more than 50 years, accepting a price HK$10 million below its earlier valuation. The property, a ground-floor shop in H&S Building at 36 Leighton Road, with a gross floor area of about 11,727 square feet, was acquired by Uni Investment Development, according to Land Registry records. Jardine Matheson appointed an...

Recommended