BSP: BOP deficit to stay elevated through 2027
The Bangko Sentral ng Pilipinas raised its 2026 BOP deficit forecast to $10.7 billion and expects it to widen to $11 billion in 2027 due to energy prices and geopolitical tensions.
Category : Banking Finance
PH BOP deficit hits $5.3B in Q1 2026 on external pressures
The Philippines' balance of payments deficit widened to $5.3 billion in Q1 2026, or 4.5% of GDP, from $3.0 billion a year earlier, driven by debt repayments, weaker FDI, and higher import costs.
Over P10.5M in drugs seized in Cebu City weekend
Police in Cebu City seized over P10.5 million worth of illegal drugs in separate operations on June 26-27, 2026, arresting two suspects including a high-value target.
BIR confident 'BGC Boys' will be convicted for P1.68B tax evasion
The BIR is confident that the 'BGC Boys' will be convicted after the DOJ recommended 44 criminal cases for P1.68 billion in tax liabilities.
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BSP Amends E-Payments Framework to Lower Fees
BSP Circular No. 1238 caps person-to-person e-payment fees near in-house costs, mandates cost analyses, and expands digital payment access for micro businesses.
BSP: Banks Resilient Despite Fitch Warning on Credit Risks
The Bangko Sentral ng Pilipinas (BSP) assured on June 26, 2025, that the Philippine banking system can withstand shocks, even as Fitch Ratings warns of higher credit impairments and lower profitability this year.
Senator Ejercito inspects Cebu hospitals for upgrade funding
Senator JV Ejercito, Governor Baricuatro, and Health Consultant Catalan inspected Cebu provincial hospitals to allocate funds for expansion and level upgrades, including Danao City and Minglanilla hospitals.
Cebu workers demand faster wage hike as inflation hits 10.8%
Workers in Central Visayas pressed the wage board to act on pending wage hike petitions, citing 10.8% inflation in May 2026, the highest in the Philippines.
BIR files 44 tax evasion cases vs 3 ex-DPWH officials
The BIR has filed 44 criminal tax cases against three former DPWH officials for tax evasion involving over PHP1.68 billion in liabilities, the DOJ approved.
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Toledo City Buy-Busts Net 4 Suspects, P38K Shabu Seized
Four individuals were arrested in two separate buy-bust operations in Toledo City on June 22, 2026, with authorities seizing shabu valued at over P38,000.
Cebu Grandmother Arrested in P3M Shabu Buy-Bust
A 57-year-old grandmother, a high-value individual, was arrested in a buy-bust in Guadalupe, Cebu City, yielding 450 grams of shabu worth P3,060,000.
Philippine Pre-Need Industry Resilient Despite Income Dip
The Philippine pre-need industry's net income fell to P140 million in Q1 2026 from P1.17 billion, but plan sales rose 11.92%, IC reports.
BDO Unibank Wins Third Straight Most Valuable Brand Title
BDO Unibank retains the Philippines' most valuable brand title for the third year, with a brand value of US$3.5 billion, according to Brand Finance Asia's 2026 report.
DSWD Fast-Tracks Cash Aid for 139,000 Families After 7.8 Quake
DSWD begins Emergency Cash Transfer distribution to over 139,000 families affected by the magnitude 7.8 earthquake in Davao Occidental, Sarangani, and GenSan.
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SSS Pension Booster Posts 6.2% Return in Early 2026
SSS Pension Booster achieved a 6.2% average ROI from Jan-May 2026, outperforming benchmark T-bill rates despite lower interest environment.
Trae Young Signs $212M Four-Year Deal with Wizards
Trae Young, 27, signs a four-year, $212 million contract with the Washington Wizards, joining Anthony Davis and Kyshawn George, per ESPN.
Timberwolves sign Dosunmu to $112M deal
The Minnesota Timberwolves signed Ayo Dosunmu to a five-year, $112 million contract after acquiring him from the Bulls in February, prioritizing him alongside Anthony Edwards.
SEC warns public against unregistered lending firm
SEC-CEBEO warns public against JA’s Credit Collection Service, an unregistered lending entity operating via Facebook, offering loans up to P50,000 at 20% interest.
SSS Pension Booster Posts 6.2% ROI in 2026
The SSS Pension Booster Program recorded a 6.2% average ROI from January to May 2026, exceeding benchmark rates, with contributions rising 21.8% in 2025.
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BSP Warns: Don't Let Others Use Your E-Wallet or Bank Account
The Bangko Sentral ng Pilipinas warns against sharing e-wallet or bank accounts, citing fraud, financial loss, and legal risks under the Anti-Financial Account Scamming Act.
DSWD: 4Ps List Inclusion Not Automatic Enrollment
DSWD 7 clarifies that families in the new 4Ps potential beneficiary list are not automatically enrolled; validation and documentary requirements still needed.
NCSC Digital Payout for Senior Cash Gifts
The NCSC launches digital fund transfers for senior citizen cash gifts under the Expanded Centenarians Act, ensuring faster, safer releases via banks, GCash, or Palawan.
Myrtle Sarrosa halts phone recovery after P40,000 demand
Myrtle Sarrosa abandons efforts to recover her lost phone after a suspect demanded P40,000 and tried to access her bank accounts.
7 Smart Saving Habits to Protect Your Money
Adopt these seven habits from the PDIC to safeguard your savings, from choosing a trustworthy bank to avoiding scams and understanding deposit insurance.
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Philippine GIR at $104B in May, BOP swings to surplus
The Philippines' gross international reserves stood at $104 billion in May, covering 6.7 months of imports, while the balance of payments posted a $131 million surplus.
Davao City honors 3 centenarians with P100,000 each
Davao City's CSWDO awarded P100,000 each to three centenarians on June 19, 2026, with Mayor Sebastian Duterte personally delivering the plaques and cash.
BSP Extends Loan Repayment to 7 Years for Salary Loans
The BSP has extended the maximum repayment period for salary-based general-purpose consumption loans from three to seven years under Circular 1239, effective June 18, 2026.
Cebu exporters oppose wage hike, urge VAT cut on food, fuel
Cebu exporters oppose a nationwide wage hike, arguing the government should first reduce VAT on essential items to combat inflation, warning of job losses and competitiveness risks.
Cebu City Hall JO salary delay due to procedural bottlenecks
Councilor Dave Tumulak clarifies that delayed salaries for hundreds of JO employees at Cebu City Hall are due to procedural bottlenecks, not a single official or office.
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BSP Lauds DOLE for Promoting Worker Financial Health
The BSP praised DOLE for encouraging employers to promote financial planning, savings, microinsurance, and PERA among workers to enhance financial health and inclusion.
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