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Japanese tourist held for bringing in excessive cash at NAIA Terminal 1

MANILA  (Mabuhay) — Agents of the Bureau of Customs (BoC) based at the Ninoy Aquino International Airport (NAIA) Terminal 1 placed under arrest late Tuesday night an arriving Japanese tourist for bringing in more than the allowed amount of cash to the country. Vernie...
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Consumer loans rise 16.9% in Q3 last year – Bangko Sentral

MANILA  (Mabuhay) – Consumer loans extended by Philippine banks rose in the third quarter of 2013 due chiefly to higher credit for housing purposes, Bangko Sentral ng Pilipinas said in a statement Monday. Banks’ consumer loans increased by 16.9 percent to P7062.6 billion in July...
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Weaker peso is good for PHL economy – NEDA’s Balisacan

MANILA (Mabuhay) – Don’t worry, Philippine economic managers are saying if the dollar turns stronger in tandem with the US economic recovery. There is an ample supply of the greenback to absorb external shocks while the peso’s weakness – eventually – bodes well for the econom...
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PHL economy to grow 7-7.5% in 2014 – Metrobank’s FMIC

MANILA  (Mabuhay) – Despite the natural calamities last year, higher spending by the government and private sectors to fund the reconstruction of damaged areas will sustain the growth momentum this year, First Metro Investment Corp., the investment banker of the Metrobank Group...
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Remittances help boost PHL savings rate in 2012

MANILA  (Mabuhay) – Remittances from overseas Filipino workers (OFWs) have allowed households to save money, boosting the country’s savings rate, according to the Bangko Sentral ng Pilipinas (BSP). Based on the BSP’s latest Flow of Funds report, domestic savings has expanded by...
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PHL cuts 2014 import, export targets

MANILA  (Mabuhay) – The Philippines on Friday lowered its import-export targets for 2014, citing lingering uncertainties in global demand – particularly from advanced economies led by the United States, a member of the Cabinet-level Development Budget Coordination Committee said....
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BSP relaxes ‘know-your-customer’ requirement for Yolanda victims

MANILA  (Mabuhay) – The Bangko Sentral ng Pilipinas (BSP) has relaxed the “know your customer” requirement until the end of the year, as the onslaught of super typhoon Yolanda destroyed essential documents. The monetary board, the policy making body of the BSP, approved to waive...
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Bangko Sentral says Yolanda impact on economy ‘contained’

MANILA  (Mabuhay) – The actual impact of killer Typhoon Yolanda on the real economy is actually limited, and higher remittances  from overseas Filipinos to their relatives in Central Philippines will buoy consumption spending. Higher remittances “could provide additional...
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PHL money supply grows 31% in Sept. – Bangko Sentral

MANILA (Mabuhay) – Money streaming within the financial system remained strong in September, driven by a very active bank lending while the impact of adjustments in the central bank special deposit window continued to pump money into the economy, Bangko Sentral ng Pilipinas said...
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AMLC to track down Napoles overseas accounts

MANILA, Sept 5 (Mabuhay) – The Anti-Money Laundering Council is trying to track down bank accounts owned by Janet Lim Napoles, the alleged mastermind of the multi-billion peso pork barrel scam. AMLC executive director Julia Bacay-Abad said they are now coordinating with foreign...
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