First Gas to borrow $80 million from local banks
First Gas Power Corp. is planning to borrow $80 million from local banks, and the Lopez-controlled is seeking the approval of Bangko Sentral ng Pilipinas to borrow the said amount, which was said to be higher that what was being considered earlier by the company, which was only $50 million.
The company is the one who [...]
May 16, 2010
Tags: bank, banking, borrowing, BSP, FCDU, finance, First Gas, foreign currency, loan, money, Philippines, power plant Posted in: Corporations, Foreign exchange, Philippine business news, Philippines, banking, economy, finance, money 
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BSP to issue peso bills with new designs by December
By December of this year, we could be having new designs on our peso bills. The Bangko Sentral ng Pilipinas (BSP) would begin circulating by December the new peso bills, while coins will follow suit after two years.
According to the BSP, aside from having new designs, the new bills and coins will also have new [...]
March 27, 2010
Tags: Bangko Sentral, BSP, business news, Central Bank, currency, finance, legal tender, monetary, money, Peso, Philippines Posted in: Announcement, Consumers, Government, Philippine business news, Philippines, banking, economy, entrepreneurship, finance, money 3 Comments
Globe puts up first mobile microfinance bank
Globe Telecommunications, Inc., together with sister company Ayala Corp., is all set to put up the Philippine’s first mobile microfinance banking unit. That is because the Banko Sentral ng Pilipinas approved the Globe and Ayala’s entry into the banking industry.
The new bank, will be called “BPI Globe Banko, A Savings Bank” will be using Pilipinas [...]
October 12, 2009
Tags: Ayala, Banks, BPI, BPI Globe Banko, BSP, Business, business loans, capitalization, entrepreneur, financing, funds sources, Globe, Loans, microfinancing, mobile financing, NGOs, Philippines, SMEs Posted in: Announcement, Employment, Loans, Philippine banks, Philippine business news, Philippines, banking, finance, investments, money No Comments
BSP okay with “Money Laundering”
Only because of the aftermath of Tropical Storm Ondoy, the Bangko Sentral ng Pilipinas permits banks to do “Money Laundering” operations.
Of course, money laundering here does not refer to those wealth which came from questionable sources.
When BSP gave a go signal to money laundering, it refers to changing those soiled bills where were soaked inside [...]
October 9, 2009
Tags: Bangko Central ng Pilipinas, Banks, BSP, calamity, flash flood, money laundering, new bills, Ondoy, Peso, Philippine, Philippine currency, replacement Posted in: Announcement, Government, Philippine banks, Philippine business news, Philippines, banking, money No Comments
Abaca fiber to stay on Philippine bills
Abaca farmers can now rest easy, as the Bangko Sentral ng Pilipinas has decided to keep using abaca fiber on PhilippineВ notes. BSP said abaca fiber will stay as its Numismatic Committed decided to support the domestic abaca industry and dropped the plan to print new bank notes in polymer material.
Armando Suratos, Deputy Governor of [...]
September 20, 2009
Tags: abaca fiber, BSP, finance, money, Philippine notes Posted in: Announcement, Government, Philippine business news, Philippines, economy, finance, money No Comments
BSP declared ‘not a bank’ and exempted from GRT
A memorandum from the Bureau of Internal Revenue has declared the Bangko Sentral ng Pilipinas (BSP) not a bank and therefore exempted from GRT or gross receipt tax.
The Revenue Memorandum Circular 65-2008, which states that BSP is exempted from GRT and some other taxes was signed by former BIR commissioner Lilian B. Hefti. It was [...]
July 13, 2009
Tags: bank, banking, BIR, BSP, credit, finance, GRT, money, Philippines, tax exemption Posted in: money No Comments
