Latest News

(13 February 2004, Friday - The Philippine Star)
By Rocel C. Felix

The Quedan and Rural Credit Guarantee Corp. (Quedancor) is seeking a P5-billion concessional loan from the Japan Bank for International Cooperation (JBIC).

(12 February 2004, Thursday - Philippine Daily Inquirer)

INCOME remittances from overseas Filipino workers (OFWs) rose 6.3 percent to 7.6 billion dollars last year from 7.2 billion in 2002, the central bank reported.

(12 February 2004, Thursday - Philippine Daily Inquirer)

THE Monetary Board voted Thursday to leave the central bank's policy interest rates unchanged at 6.750 percent for overnight borrowing and 9.000 percent for overnight lending, saying its current stance was still supportive of the government's inflation and economic growth targets.

(February 10, 2004, Tuesday - The Philippine Star)
By Ted Torres

The Department of Finance (DOF) will form a technical working group to review the tax environment believed to be among the major reasons stifling the growth of the country’s insurance industry.

(12 February 2004, Thrusday - Manila Bulletin)

The Bangko Sentral ng Pilipinas (BSP) projected credit growth for this year to reach between seven percent and eight percent, slightly lower than the 10 percent growth in 2003.

(11 February 2004, Wednesday - Philippine Daily Inquirer)

THE Bangko Sentral ng Pilipinas (BSP) clarified that an Inquirer report Tuesday on violations foreign exchange rules by three banks did not pertain to recent developments but to violations made and identified in 2000.

(11 February 2004, Wednesday - Philippine Daily Inquirer)
By Michelle V. Remo

THE BUREAU of Product Standards is set to order the phaseout of home appliances that contain the environmentally harmful chlorofluorocarbons (CFCs).

(10 February 2004, Tuesday - The Philippine Star)

The Philippine Deposit Insurance Co. (PDIC), through its Resolution No. 2003-07-0111 has granted consent to the proposed consolidation of three of Mindanao’s largest rural banks, Network Rural Bank Inc. (NRB), Rural Bank of Panabo Inc. (RBP), and Provident Rural Bank Inc. (PRB), pending approval of the Bangko Sentral ng Pilipinas (BSP). The new consolidated bank will be called the One Network Rural Bank Inc.