REUTERS THE GOVERNMENT raised a record P584.86 billion from its offering of five-year retail Treasury bonds (RTBs), exceeding the Bureau of the Treasury’s (BTr) target. The final amount raised was above the P400-billion target mentioned by BTr Officer-in-Charge Sharon P. Almanza during the Feb. 13 rate-setting auction. The government initially […]
Philippines urged to strengthen its measures against money laundering, terrorism financing
THE LOGO of the Financial Action Task Force (FATF) is seen at the OECD headquarters in Paris, France, Oct. 18, 2019. — REUTERS THE Philippines needs to strengthen its anti-money laundering (AML) and combating financing of terrorism (CFT) regime, as it again failed to exit the “gray list” of the […]
PHL needs to grow by at least 8% to reduce poverty
THE PHILIPPINES’ poverty incidence slipped to 22.4% in the first half of 2023 from 23.7% two years earlier, data from the statistics agency showed. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Philippine economy should grow by 8% or more annually to bring down the poverty incidence rate, which is currently the […]
Ateneo clinches grand prize at TCS Sustainathon
From right: Shiju Varghese (Country Head — TCS Philippines), Patrick Veril (Lead, CSR for ASEAN — TCS), Ludhisya Rajakumar (Head of Scaled Customer Insights Global, Sales Analytics, LinkedIn), Vasudevan Rajagopalan (APAC HR Head — TCS), Joel Tesorero (HR Director — SAP), Shveta Bhardwaj (APAC Head Sustainability Services — TCS), Glycirynne […]
Meralco plans over P100-B investment for ‘critical projects’
THE MANILA Electric Company (Meralco) announced on Sunday an investment plan of over P100 billion through 2030, mainly to fund critical projects under its long-term sustainability strategy. “[The company] commits over P100 billion in capital expenditures to initiatives that not only enhance our infrastructure but also align with the government’s […]
New DoST-NCR, SCALE NCR partnership to help OFWs build better tech-based businesses
The National Capital Regional Office of the Department of Science and Technology (DoST-NCR) is partnering with a consortium of technology business innovators (TBIs) to help returning overseas Filipino workers (OFWs) and their families who are enrolled in the DoST’s Innovations for Filipinos Working Distantly from the Philippines (iFWD PH) Program […]
SEC warns vs investing in DigiVault Trading, Altstrade
THE SECURITIES and Exchange Commission (SEC) has warned the public against investing in DigiVault Trading and Altstrade, saying these entities are not registered to solicit investments. In two separate advisories on its website, the commission said that DigiVault Trading and Altstrade do not have the license to offer and sell […]
Converge set to enter pay TV market
CONVERGE ICT SOLUTIONS INC./YOUTUBE LISTED fiber internet provider Converge ICT Solutions, Inc. is investing up to P150 million to launch its pay television (TV) segment this year, the company’s chief executive officer (CEO) said. “Actually, we have a direct to home franchise already. We need to open that soon,” Converge […]
CTA affirms decision granting part of geothermal company’s refund claim
CTA.JUDICIARY.GOV.PH THE COURT of Tax Appeals (CTA) has upheld its decision to grant Philippine Geothermal Production Co., Inc.’s (PGPCI) refund claim in the amount of P23.27 million representing its excess input value-added tax (VAT) traced to zero-rated sales for the first three quarters of 2016. In a decision dated Feb. […]
Cebuana Lhuillier, Packworks boost MSME growth with sari-sari store inventory financing ‘Sari Fund’
There are around 1.3 million sari-sari stores, or neighborhood mom-and-pop shops, in the Philippines, serving as the primary source of daily essentials for about 94% of Filipino consumers. Yet, services for their business growth are limited, leaving them unbanked and operating cash-in-hand. Recognizing this challenge in the grassroots retail sector, […]