Sovereign wealth fund bill could face lawsuit

By Beatriz Marie D. Cruz A PROPOSED sovereign wealth fund that Philippine President Ferdinand R. Marcos, Jr. pitched to world and business leaders in Davos, Switzerland this month risks getting voided by the courts for “sequestering” dividends from state companies, a congressman said on Tuesday. The so-called Maharlika Investment Fund bill, which the House of […]

Senate minority says Maharlika must benefit public, not investors

SENATE Minority Leader Aquilino Martin D. Pimentel III expressed doubts on Monday about private investment in the proposed sovereign wealth fund, saying that the interests of investors will take precedence over those of the public. “We are just creating a protected corporation, a protected entity whose beneficiaries are investors,” Mr. Pimentel told TeleRadyo. He added […]

Nissin Foods (Hong Kong) Charity Fund Establishes Nissin Foods Scholarship at The Chinese University of Hong Kong

Encouraging Students to Strive for Excellence Nurturing Food Science Talent for Future Generations HONG KONG, Jan 18, 2023 – (ACN Newswire) – Nissin Foods Company Limited (“Nissin Foods”, and together with its subsidiaries, the “Group”; Stock code: 1475) has announced the launch of the Nissin Foods Scholarship for Food and Nutritional Sciences students by Nissin Foods […]

MMDA returns P1.2-B unauthorized WiFi fund from DICT — solon 

THE METRO Manila Development Authority (MMDA) has returned a P1.2-billion fund it received from the Department of Information and Communications Technology (DICT) without the necessary approvals, a lawmaker said on Monday.  Senior Deputy Minority Leader Paul R. Daza, who was one of the lawmakers present in the House investigation on the alleged illegal transfer of […]

Marcos plans Maharlika fund ‘soft launch’ at Davos meeting

PRESIDENT Ferdinand R. Marcos, Jr. will invite potential investors to provide capital to his proposed sovereign wealth fund at the World Economic Forum meeting next week, according to the Department of Foreign Affairs. The forum, gathering world leaders at the Swiss resort of Davos, is a “great venue” to introduce the administration’s sovereign wealth fund […]

DBP sees wealth fund role as provider of infra capital

THE Development Bank of the Philippines (DBP) views the proposed Maharlika Investment Fund (MIF) as a valuable source of long-term capital for developing infrastructure. In a statement, the bank’s President and Chief Executive Officer Emmanuel G. Herbosa said such investment will be critical for food, water, green energy, agro-industrial ventures, telecommunications, public infrastructure, and road […]

Maharlika bill FoI safeguards seen as inadequate

THE Maharlika Investment Fund (MIF) bill is suffering from a lack of public consultation, with transparency safeguards like the obligation to respond to Freedom of Information (FoI) requests deemed insufficient for achieving transparency, a non-government organization said. David Michael M. San Juan, convener of the Professionals for a Progressive Economy, added that public consultations on […]

Sportsman Shikhar Dhawan launches $75M Global SportsTech Venture Fund

ABU DHABI, UAE, Dec 17, 2022 – (ACN Newswire via SEAPRWire.com) – International cricketer and entrepreneur Shikhar Dhawan has launched Da One Global Ventures (DOGV), a $75 million Global SportsTech Venture Fund focusing on innovation across the Sports spectrum. The multi-stage fund, with a greenshoe option of $25 million, is to incorporate in the Abu […]

Pag-IBIG Fund launches mobile app

PAG-IBIG Fund officially launched the Virtual Pag-IBIG Mobile App to bring its services closer to members as it marked its 42nd anniversary on Wednesday, December 14, 2022. President Ferdinand Marcos Jr. recognized Pag-IBIG Fund’s accomplishments over the years and welcomed the launch of its official mobile app through a recorded message for the agency. “Through […]

International Cricketer Shikhar Dhawan announces $75M Global Investment Sports Tech Fund

ABU DHABI, UAE, Dec 13, 2022 – (ACN Newswire via SEAPRWire.com) – On day one of the prestigious Abu Dhabi Finance Week (ADFW), leading international cricketer and entrepreneur Shikhar Dhawan announced that he would be launching a $75 million Global Investment Sports Tech Fund, consisting of a Greenshoe option of $25 million. The proposition is […]

Opposition senator says proposed sovereign wealth fund counterproductive after others express reservations

AN OPPOSITION senator on Tuesday said the proposal to establish a sovereign wealth fund (SWF) is counterproductive, noting that it goes against the nation’s economic agenda.  “An SWF is meant to come from the excess funds we just don’t have, as seen by our trillions-worth of debt. We don’t need an SWF and we clearly […]