PBOC adds most gold in three years amid China pivot from US dollar

South China Morning Post - Oct 13, 2026

China’s central bank boosted gold holdings by the most in three years last month, taking advantage of a dip in prices to further pare its exposure to US dollar assets amid tensions with Washington. Holdings rose by 740,000 troy ounces (23 tonnes) to reach 77.47 million ounces at the end of September, the People’s Bank of China said last week. The total gold pile is worth about US$324 billion at market prices and compares with China’s foreign exchange reserves of US$3.4 trillion. The People’s...

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DA ramps up ube production in Cagayan Valley

Oct 13, 2026

DA ramps up ube production in Cagayan Valley

The Department of Agriculture (DA) is working with the Municipality of Echague, Isabela as well as local farmers to expand the country"s ube production to meet the growing international demand for the root crop.

King Fook expands with US$34 million Admiralty lease despite slow luxury sales: analysts

Oct 13, 2026

King Fook expands with US$34 million Admiralty lease despite slow luxury sales: analysts

King Fook Jewellery Group’s decision to lease a 550 square metre (about 5,920 square feet) retail space at Pacific Place Phase II in Admiralty signals confidence in Hong Kong’s retail market, despite slowing demand for luxury goods, analysts said. The six-year lease for the shop in Hong Kong’s prime business district carries total base rent of about HK$268.5 million (US$34.2 million), or about HK$3.73 million a month, according to a company announcement filed with Hong Kong Exchanges and...

SSS orders 5 Pasay employers to settle P3.19M dues or face charges

Oct 13, 2026

SSS orders 5 Pasay employers to settle P3.19M dues or face charges

The Social Security System (SSS) has given five employers in Pasay City 15 days to settle P3.19 million in unpaid workers" contributions and penalties, warning that failure to comply could lead to criminal charges.

China to tighten leash on futures quant trading to contain risks amid stock slump

Oct 13, 2026

China to tighten leash on futures quant trading to contain risks amid stock slump

China’s futures exchanges will intensify a crackdown on malfeasance linked to programme trading by defining specific violations, as Beijing seeks to contain any cross-asset risk that could place additional strain on the nation’s already struggling stock markets. Participants who failed to report and inspect clients’ programme trading, also known as quantitative trading, in compliance with the rules would be subject to disciplinary action, according to separate statements on the websites of...

House helpers in CALABARZON to get P750 minimum wage increase on Oct. 26

Oct 13, 2026

House helpers in CALABARZON to get P750 minimum wage increase on Oct. 26

House helpers in CALABARZON will receive a P750 increase in their monthly minimum wage starting October 26, the Department of Labor and Employment (DOLE) said Tuesday.

Condo supply, costs, borrowings constrain PH property market -- S&P

Oct 13, 2026

Condo supply, costs, borrowings constrain PH property market -- S&P

Excess condominium supply, rising costs, and expensive borrowing continue to constrain homebuyer demand in the Philippines, S&P Global Ratings Corporate Ratings Analyst Johann Tan said.

Consensus builds for further BSP rate increases

Oct 13, 2026

Consensus builds for further BSP rate increases

MANILA, Philippines — The Bangko Sentral ng Pilipinas may have to raise its policy rate higher to rein in high inflation and help support the weakening peso, analysts said. In a note to clients, economists at Deutsche Bank said the inflation flare-up in September prompted them to expect another quarter-point rate hike at the BSP’s Oct.

Airfare relief ahead as fuel surcharge dips

Oct 13, 2026

Airfare relief ahead as fuel surcharge dips

MANILA, Philippines — Travelers flying within and out of the Philippines may see a slight reduction in ticket costs in the second half of October after the Civil Aeronautics Board (CAB) approved lower, although still elevated, fuel surcharges for the period. In an advisory on Monday, the regulator said airlines would be allowed to impose

BMI: PH banks face slower loan growth, rising NPLs

Oct 13, 2026

BMI: PH banks face slower loan growth, rising NPLs

MANILA, Philippines — Weak economic activity and tight financial conditions will weigh on bank lending growth through 2027, BMI said, while also forecasting an increase in bad loans as borrowers contend with high inflation and elevated unemployment. In a commentary, the Fitch Group unit said it expects annual credit growth to hit 9 percent in

GCash IPO draws oversubscribed broker orders

Oct 13, 2026

GCash IPO draws oversubscribed broker orders

MANILA, Philippines — Demand for Mynt Inc.’s initial public offering (IPO) exceeded the shares allotted to several brokers, as investors sought a stake in the company behind GCash ahead of its Oct. 20 stock market debut. Regina Capital and Development Corp.’s allocation was four times oversubscribed, according to its head of sales, Luis Limlingan. READ: Strong

SEC cracks down on FB page posing as licensed lender

Oct 13, 2026

SEC cracks down on FB page posing as licensed lender

MANILA, Philippines — The Securities and Exchange Commission (SEC) has ordered the operators of a Facebook (FB) page posing as Cash-Express Philippines Financing Inc. to stop unauthorized financing and lending activities, citing risks to borrowers’ money and personal information. The cease-and-desist order covers the persons or entities behind “Cash-Express Payday Loan,” along with their representatives, agents,

Philex operations continue despite strike

Oct 13, 2026

Philex operations continue despite strike

MANILA, Philippines — Philex Mining Corp. said mining operations at its mine site in Tuba, Benguet, continue despite the ongoing workers’ strike over wages. “So far, mining and processing operations have continued and remained unhampered,” the Pangilinan-led mining company said in a disclosure on Monday. READ: Silangan mine to boost Philex revenues by 2027 “Initial

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