BSP dollar reserves dip in May

The central bank’s dollar reserves dipped in May, as the government withdrew foreign currency to use for debt repayments.   Data from the Bangko Sentral ng Pilipinas (BSP) showed the gross international reserves (GIR) declined by 0.67{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} to $106.978 billion as of end-May, from the $107.705 billion logged as of end-April.   However, this was 14.7{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} higher than the $93.288 billion in foreign exchange buffers…

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Digital tools to help MSMEs rebound and grow

BusinessWorld Insights, Eastern Communications hold webinar on SMEs in the Now Normal Being the backbone of the Philippine economy, micro, small, and medium enterprises (MSMEs) are vital as the country steps onto the recovery stage. According to a statement from the United Nations in 2020, MSMEs consists of 99.5{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} of the business establishments and employ approximately 63{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} of the workforce…

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World Bank boosts growth forecasts as US stimulus, vaccines stoke demand

WASHINGTON – The World Bank on Tuesday raised its global growth forecast to 5.6{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} for 2021, marking the strongest recovery from a recession since 1940 due to U.S. stimulus spending and faster growth in China but held back by “highly unequal” access to COVID-19 vaccines. The development lender’s latest Global Economic Prospects report showed a 1.5-percentage-point increase from forecasts made…

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Experience better mobile banking with the New ‘PNB Digital’ App

In line with its strengthened digital banking thrust, the Philippine National Bank (PSE: PNB) has recently launched a new and improved mobile banking platform – the PNB Digital App. Providing a secure and easy way of banking anytime, anywhere, the enhanced mobile banking app offers clients a better experience through a fresh look, intuitive design, and quick access to frequent…

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Destination up north: Ayala Land takes Central Luzon to new heights

Propelled by economic movement and infrastructure support, Ayala Land’s Alviera in Pampanga and Cresendo in Tarlac are destined to be the region’s growth engines While Metro Manila’s core and fringes are now filled with some of the country’s top urban centers, its northern neighbors in Central Luzon are bursting with fresh promise. The provinces of Pampanga and Tarlac are undergoing…

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7,450 more Filipinos get coronavirus

The Department of Health (DoH) reported 7,450 coronavirus infections on Friday, bringing the total to 1.26 million.  The death toll rose by 181 to 21,537, while recoveries increased by 2,382 to 1.17 million, it said in a bulletin.  There were 60,794 active cases, 1.3{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} of which were critical, 93.9{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} were mild, 2{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} did not show symptoms, 1.6{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} were severe and 1.15{7cf23ffd9f893b42e5168467dbdff3dd8c8539e14232c919813e000f7f93ca07} were…

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Experience the premium performance of the new portrait master, the vivo V21 series

The feature-rich, selfie-focused vivo V21 Series are now available in all vivo stores nationwide and official e-commerce sites. Be amazed at the photography capacities and impressive specs beneath the elegance of these new smartphones. A seamless experience is possible with V21 5G’s MediaTek Dimensity 800U 5G Processor. Boosting its core up to 2.4GHz, it makes the launching of apps and top games done in a split second. With the…

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Taskforce T3 welcomes vaccination of A4 sector in June

A private sector coalition that was organized to consolidate the business community’s COVID19 response efforts fully supports the government’s decision to expand the vaccination rollout to the A4 priority sector starting June 7. Guillermo “Bill” Luz, Taskforce T3 proponent and Chief Resilience Officer of the Philippine Disaster Resilience Foundation, says the inclusion of A4, majority of whom represent the economic…

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Pacquiao emerges as obstacle to Duterte’s succession plans

Boxer-turned-politician Manny Pacquiao is emerging as an obstacle to Philippine President Rodrigo Duterte’s succession plans when his single six-year term ends next year. Pacquiao, a loyal ally to Duterte since his shock election win in 2016, has rankled loyalists to the strongman leader since becoming acting head of the president’s ruling PDP-Laban party in December. Tensions spiked last week when…

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