Central banks and payment instruments: a serious case of schizophrenia.
Abstract: This article analyses the competition between cash and payment cards against the backdrop of the dual role of central banks--as issuers of cash and as institutions with a mandate to foster the efficiency of payment systems in general. It is argued that this dual role results in a...

Wage hike may force BSP to tighten monetary policy.
Byline: DITAS LOPEZ The Bangko Sentral ng Pilipinas warned yesterday that a sharp increase in wages this year will force it to further tighten monetary policy after an interest rate hike early this month the first in four years. Diwa Guinigundo, assistant governor in charge...

India in the world.
I remember visiting India in the 1980s and being asked to take in a TV set because, although the country had a TV broadcasting service, it had no TV manufacture or retailing, and imports were banned or suffered tariffs beyond reach. They were the days when visitors took in...

Resources of banking system hit P4.16 T in 2004, up 1.7%.
Byline: LEE C. CHIPONGIAN The local banking systems total resources last year amounted to P4.166 trillion, 1.7 percent higher from 2003s P3.810 trillion, the central bank said in a report. According to a report by the Bangko Sentral ng Pilipinas "Economic and Financial Developments" for...

Peso rallies to strongest level in 4-1/2 years against US dollar.
The peso rallied to its strongest level against the US dollar in about 4-1/2 years, buoyed by remittances from Filipinos abroad and foreign funds finding their way into the equities market here, dealers said. Traders said inflows from equity investors and overseas Filipino workers more than offset...

IRAN - Ahmadi-Nejad's Battle With Businesses Worsens:-By Najmeh Bozorgmehr in Tehran.
May 27 2007 17:56 The battle between President Mahmoud Ahmadi-Nejad and Iran's private sector intensified as state television quoted the president rejecting "negative propaganda" that his government opposed business. "Those who misuse people's money should know that the private sector is all of Iran's 70m population", he said. Businesses...

'A most reliable and important partner of government'; (President Gloria Macapagal Arroyo's speech before the over 600 officers and employees of Philtrust Bank on the occasion of its 90th Anniversary celebration at the Fiesta Pavilion of the historic landmark Manila Hotel on October 21, 2006).
Byline: President GLORIA MACAPAGAL ARROYO THANK you very much Governor Tetangco for your introduction, and thank you for your very strong Central Bank policies that have made our banking system strong. Don Emilio Yap, Doctor Laya and the other officials of Philtrust, and to the...

NEWS IN BRIEF; P/$ rate closes at P54.40 to $1.
The peso rate closed lower at P54.40 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P54.37 the previous day. The weighted average rate appreciated to P54.354 from P54.493. Total volume amounted to $367.2 million. BSP sees FDIs...

Interview with Harry Leinonen: Adviser to the Board, Bank of Finland.
Harry LEINONEN: Thank you for the opportunity to be interviewed on this highly important issue. C&S: What is the Single European Payment Area (its objective, governance, etc.)? HL: SEPA is a project or process towards a common, developing and expanding retail payment area with efficient...

Cuba waives Guyana debt, trains doctors.
The Cuban government has written off $1 million in Guyanese debt, following the recently concluded 23rd session of the Guyana-Cuba Joint Commission. A statement from Cuba's Ministry of Foreign Trade and International Cooperation said the debt dates from an agreement signed in March 1986 between the then-Guyana...