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 The Philippines finished strong in 2023 with a full-year gross domestic product (GDP) growth rate of 5.6 percent, outpacing major economies in Asia, such as China (5.2 percent), Vietnam (5.0 percent), and Malaysia (3.8 percent) based on the latest available data.
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 OFW organizations are also backing Pag-IBIG Fund’s plan to increase members' monthly savings rate this year, agency officials announced.
 According to the Insurance Commission, the net income of life and non-life insurance companies and mutual benefit associations (MBAs) increased by 9.38% year-on-year during the 3rd quarter of 2023.
 According to the Insurance Commission, the total premiums collected under microinsurance policies as of the 3rd quarter of 2023 increased by 19.6% compared to the same period last year.
 CIMB Bank rolls out its new time deposit with the highest interest rate in the market, up to 7.5% per annum, with terms ranging from 6 months to 24 months.
 The Securities and Exchange Commission (SEC) is working closely together with the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) to advance various reforms to encourage capital raising and investing in the capital markets, and improvements on ease of doing business.
 Results of the Q4 2023 Senior Bank Loan Officers’ Survey (SLOS) indicated that most of the respondent banks kept their credit standards generally unchanged for lending to businesses and consumers based on the modal approach. Meanwhile, the diffusion index (DI) method, showed varied results reflecting a net tightening of credit standards for firms and a net easing of loan standards for households.
Department of Trade and Industry (DTI) Hits New Record for Business Name Registrations in 20231/23/2024  The Department of Trade and Industry (DTI) reported a noteworthy accomplishment with a total of 984,332 business name registrations for 2023. This marks a consecutive annual increase showcasing a 5% spike from the previously recorded 937,431 registrations in 2022.
SEC Philippines Issues Cease and Desist Order against Infinity8Networks Digital Services OPC1/18/2024  The Securities and Exchange Commission (SEC) has issued a cease and desist order against Infinity8Networks Digital Services OPC and related entities for illegally soliciting investments from the public.
 The Securities and Exchange Commission (SEC) has issued a cease and desist order against MFT Group of Companies, Inc. and Foundry Ventures I, Inc. for illegally soliciting investments from the public.
 The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) of Citicore Renewable Energy Corporation for as much as P11.252 billion.
Pag-IBIG Fund: New rates will be Implemented Starting February 2024; Members will Gain More Benefits1/17/2024  Pag-IBIG Fund members are set to enjoy doubled savings and higher cash loan entitlements while continuing to have access to affordable home loans, as the agency is set to increase the nearly four-decade old mandatory monthly savings for both members and their employers starting February 2024, officials announced Wednesday (17 January).
 Finance Secretary Benjamin E. Diokno welcomed the enactment of the Ease of Paying Taxes (EOPT) Act, which was signed into law as Republic Act No. (RA) 11976 by President Ferdinand R. Marcos, Jr. on January 5, 2024, to modernize the Philippine tax administration and strengthen taxpayer rights.
 The Bangko Sentral ng Pilipinas (BSP) has reached another central banking milestone with the onboarding of OmniPay, Inc. to the roster of financial institutions that settle high value transactions safely and instantly through the BSP-owned and operated PhilPaSSplus.
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Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. Connect
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