Citi taps Rustan’s retail customers

By Czeriza Valencia

CITIBANK, the world’s largest credit-card issuer, is tapping the customers of Rustan’s’ department stores and supermarkets by launching a credit card that gives them rebates, discounts and special privileges.

The card is called the Citi Rustan’s card and has gold and platinum versions.

The card offers rebates on all purchases made at Rustan’s Department Store, Rustan’s Supermarket and Stores Specialists Inc.

In an interview during the launch, Mark Jones, Citi country business manager, said the bank is targeting 100,000 new credit-card holders this year.

The credit limit for the platinum card is P250,000 and P125,000 for the gold. 

In terms of growth, Jones said the new card is expected to contribute 10 percent to the bank’s loan portfolio.

PhilRatings gives ALI bond sale ‘Aaa’

AYALA Land Inc.’s (ALI) planned sale of P4 billion worth of bonds has secured the highest rating possible from Philippine Rating Services Corp. (PhilRatings).

VAT collection in 1st five months totals P42.918B

VALUE-ADDED tax (VAT) collected during the first five months totaled P42.918 billion, the Department of Finance (DoF) reported on Tuesday.

Clamor vs VAT now stronger

AS Malacañang continues to fend off proposals to scrap the value-added tax (VAT) on petroleum products, private sector and government groups are now clamoring for the removal of the tax on all products.

Citi taps Rustan’s retail customers

CITIBANK, the world’s largest credit-card issuer, is tapping the customers of Rustan’s’ department stores and supermarkets by launching a credit card that gives them rebates, discounts and special privileges.

Peso dips to P45, 46:$1

THE peso on Tuesday shed 21 centavos to close at P45.46 from Monday’s close of P45.245 after a correction in the market occurred following the local currency’s sharp appreciation the previous day.