TOKYO, Jan 26, 2023 – (JCN Newswire via SEAPRWire.com) – Fujitsu Limited (Fujitsu) and Mizuho Bank, Ltd. (Mizuho Bank) today announced a collaboration focused on the development of services for corporate customers to manage ESG and SDG related data including greenhouse gas emissions. Figure: Image of the joint project The joint effort will combine Mizuho […]
CASH TRANSFER programs were able to “effectively” protect typhoon-affected households from falling into extreme poverty, according to a study by the World Bank. “In the aftermath of Typhoon Yolanda (international name: Haiyan) in the Philippines, the country’s 4Ps program proved to be an effective protection against extreme poverty. It was also shown that it raised […]
HONG KONG, Jan 17, 2023 – (ACN Newswire via SEAPRWire.com) – On 16 January 2023, Fosun High Technology, the domestic operating entity of Fosun International Limited (“Fosun International”, HKEX: 00656), and eight domestic banks held a syndicated loan signing ceremony at the Bund Finance Center, Shanghai. According to the agreement, Industrial and Commercial Bank of […]
SINGAPORE, January 17, 2023 – (SEAPRWire) – Newly launched Filipino digital bank GoTyme Bank has partnered with global cloud banking platform Mambu to deliver an innovative digital banking solution that is aiming to improve access to high-quality financial services for Filipinos. Singapore-based Tyme Group, which has partnered with Gokongwei Group to launch GoTyme Bank in the Philippines, has had […]
SEOUL — South Korea’s central bank raised its policy interest rate by 25 basis points on Friday, as expected, but bond yields plunged in response to comments suggesting its 1-1/2-year rate-hike campaign had ended. The benchmark 10-year treasury bond yield dived as much as 14.3 basis points to 3.270%, its lowest since late August and […]
THE BANGSAMORO region in southern Philippines is getting support from the World Bank and the United Nations Development Programme (UNDP) as it beefs up its disaster management capacity following the impact of a tropical storm in October where 62 people died and thousands were displaced. A program called PlanSmart Ready-to-Rebuild (R2R) kicked off last week, […]
THE PHILIPPINE government is looking to obtain a $550-million loan from the World Bank (WB) to boost its rural development program. A document uploaded on the World Bank website showed the Philippine government is seeking funding for the proposed Philippine Rural Development Project (PRDP) Scale-up. “The PRDP Scale-up aims to improve farmers’ and fisherfolk’s access […]
OUTSTANDING loans of universal and commercial banks, net of reverse repurchase placements with the Bangko Sentral ng Pilipinas (BSP), rose 13.7 percent in November from 13.9 percent in October last year. The central bank on Wednesday disclosed that on a month-on-month, seasonally-adjusted basis, outstanding universal and commercial bank loans rose 0.3 percent. “Sustained growth in […]
LAND BANK of the Philippines (LANDBANK) said one of its financing programs for farmers approved P17.8 billion worth of loans as of the end of October to 1,245 borrowers, against the year-earlier total of P17.4 billion to 1,220 borrowers. The bank disclosed the lending totals for the Sulong Saka program in a statement released in […]
THE WORLD Bank said countries resorting to “health taxes” like those imposed on tobacco and alcoholic beverages must achieve broad-based partnerships that generate a strong consensus supporting such measures, and not just deploy straightforward arguments like raising revenue and improving public health. “Health taxes should not be viewed solely through the lenses of health or […]
THE BANGSAMORO Ministry of Social Services and Development (MSSD) has partnered with state-owned Amanah Islamic Bank for the regional government’s digital aid distribution program, initially covering emergency shelter assistance funds. The tie-up will cover beneficiaries of storm Nalgae, locally named Paeng, which struck a large part of the Philippines in October, including several provinces in […]
THE MARCOS administration is seeking a $600-million loan from the World Bank to help the Philippines bounce back from the pandemic, as well as improve climate resilience and fiscal management. The Philippines’ first sustainable recovery development policy loan (DPL) is expected to be approved by the World Bank board on May 16, 2023, according […]
UNO DIGITAL BANK has partnered with technology firm Trusting Social to offer more Filipino consumers greater access to loans with the help of data science tools. “Our partnership with Trusting Social will allow us to offer our services to unbanked Filipinos who otherwise won’t have access to formal lending services,” UNO Digital Bank Chief Executive […]
Bangko Sentral ng Pilipinas (BSP) will likely have to continue raising rates at its next two meetings to ensure inflation returns to within its 2-4% target range next year, its governor said on Friday. BSP Governor Felipe M. Medalla said the likelihood that the central bank will not increase its policy rates at its next […]
By Antonio J. Montalvan II What do we do with the dark chapters in our history? We ingrain them in our collective consciousness by learning from them so that we can repudiate their revival. Critical readers say that was easier said than done before the age of disinformation. The recipe does not change – we […]
GROWTH of the Philippine economy will likely slow to 6.3% next year from a 2022 rate of at least 7%, Singapore’s DBS Bank said, noting the impact of high inflation, interest rates, and fading pent-up demand. In a report written by DBS economists Chua Han Teng, Radhika Rao, and Irvin Seah, the bank said […]
MERCEDES T. GOTIANUN, chairperson emerita of the Filinvest group of companies, passed away on Dec. 11, 2022, leaving behind a business enterprise in which she has been regarded as the perfect complement to its visionary leader, her late husband. Chita, 94, is said to be the “tireless implementor” of Andrew Gotianun, Sr., the founder of […]
PERU’S new President Dina Boluarte named a US-educated economist who has spent most of his career at the central bank as economy minister, potentially soothing investor nerves after last week’s political chaos. The new finance chief, Alex Contreras, served as deputy economy minister under former President Pedro Castillo, who was ousted on Dec. 7. Contreras […]
THE Bangko Sentral ng Pilipinas (BSP) said local government units (LGUs) proposed to borrow P20.2 billion in the first half, mostly for infrastructure projects. The totals were tallied from applications to the Monetary Board (MB), which must review all LGU borrowing proposals, the BSP said in a statement on Tuesday. The MB received 107 proposals […]
Passengers wait inside the Ninoy Aquino International Airport Terminal 3 in Pasay City, Oct. 29. The growth in remittances is expected to slow next year amid a looming global economic slowdown. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Keisha B. Ta-asan, Reporter REMITTANCE INFLOWS to the Philippines are expected to rise by 3.6% this year, […]