Banking & Finance
Banking and finance news has never been this accessible and convenient. With BusinessMirror, you can stay up to date with the latest banking news in the Philippines: from updates and analyses on the local and international financial sector to developments in the stock market, investment trends, and government taxation. Never miss out with BusinessMirror’s Banking and Finance News.
Favorable rates mark auction of debt papers
AS favorable rates continued for the second straight week, the national government successfully raised its full programmed amount for the tender of Treasury bills (T-bills) last Monday.
Pagcor-funded facilities in Tarlac inaugurated
PHILIPPINE Amusement and Gaming Corp. (Pagcor) Chairman and CEO Alejandro H. Tengco led on Monday, March 18, the inauguration of two newly-completed multi-purpose centers in the towns of San Manuel and Victoria in the province of Tarlac.
Invest like Warren Buffet
NOWADAYS, we will see a lot of financial planning contents in the internet. Gen Z’s are entering the workforce together with the Millennials and Gen X. While the Baby Boomers are now retiring, it is very important to put our hard earned money on the right platform and with the right principles.
Subsidies to state-run firms plunged to ₱163.535 billion
FOUR years of a Covid-scarred economy, the national government’s subsidies to state-run firms plunged to P163.535 billion in 2023.
Govt cash utilization rate better at 88%
THE utilization rate of cash allocation of the national government as of end-February inched up to 88 percent from last month’s 70 percent, according to the Department of Budget and Management (DBM).
Empowering Ethical Innovation: Navigating Disruptive Technology
ARTIFICIAL Intelligence (AI) has become a cornerstone of innovation, permeating diverse facets of society, businesses, and daily life. One of the most groundbreaking advancements in AI technology is Generative AI, which includes transformative tools like Bard and ChatGPT. As Generative AI gains prominence, global CEOs are increasingly recognizing its boundless potential and are accelerating their investments and explorations into this cutting-edge technology.
Private funds eyed for Pasig River rehab
THE national government will seek private donations to finance the completion of the Pasig River rehabilitation project, according to the Department of Human Settlements and Urban Development (DHSUD).
Marcos signs law slapping 9% tariff on imported salt
TO help boost the competitiveness of the local salt industry, President Ferdinand R. Marcos Jr. signed Republic Act (RA) 11985 or the Philippine Salt Development Act, which slaps a 9-percent tariff on imported salt.
Tariff exemption for electric vehicles sought for ‘survival’
THE Electric Vehicle Association of the Philippines (EVAP) is asking the Tariff Commission to reconsider the granting of tariff exemption to motor vehicles (MVs) that transport ten or more persons as the group describes the local electric-jeepney (EJ) manufacturing industry in “survival mode.”
‘GOCCs, GFI’s borrowing must not exceed $7.5B’
DIRECT borrowings of government-owned and controlled corporations (GOCCs) and government financial institutions (GFIs) are subject to limits provided under their respective charters and not the $10-billion debt ceiling, the Department of Finance (DOF) clarified.
Lender includes solar panel set-up in housing loans
HOUSEHOLDS who want to install solar panels in their homes now have another financing option through Security Bank Corp., which recently signed a partnership with Helios Energy Inc., for a solar mortgage program.
Bitcoin ETF sees $200M inflow after waiving fees
INVESTORS have poured over $200 million into VanEck’s spot Bitcoin exchange-traded fund after it waived fees for the first $1.5 billion in assets until the end of March next year.
Government JO, COS workers offered SSS protection
THE Social Security System (SSS) announced more than 500,000 government workers under job order (JO) and contract of service (COS) employment status not covered by the Government Service Insurance System (GSIS) can now enjoy social security protection through the SSS membership expansion program.
BTr raises ₱30 billion on bonds sale as investors relent
THE national government on Tuesday successfully raised P30 billion from the sale of long-term Treasury bonds (T-bonds) on the back of easing yields sought by investors.
Retailers seek NG funding for senior, PWD discounts
THE group of Philippine retailers is pushing for the adoption of “government-supported” funding mechanisms to ensure that the discounts to senior citizens (SCs) and persons with disability (PWD) will not burden the retail sector, particularly for small-scale and medium-sized enterprises (SMEs).
PHL to veer away from China for funding of infra projects
THE national government is now veering away from securing Chinese Official Development Assistance (ODA) when it comes to a number of its infrastructure projects.
Death, injury claims in vehicle accidents doubled
THE insurance industry regulator has doubled the benefits that may be claimed by third parties or passengers who were injured or died in accidents involving motor vehicles.
Influencers–Rising Entrepreneurs?
WHAT is an influencer? Or how do you define an influencer? There are so many definitions in the internet, but let me rephrase them and defined them in as simple terms as possible. Influencers are those that dominates social media. They have a specific expertise or skills or interesting story and have an audience who follows them consistently. They have a steady following of thousands or even million followers.
Fintech Alliance.PHL strengthens digitization initiatives in meeting with BSP Governor
MANILA, PHILIPPINES – Fintech Alliance.PH, the country’s foremost fintech organization, took significant strides in enhancing its collaboration with the Bangko Sentral ng Pilipinas (BSP) during a recent courtesy visit, further cementing their commitment to sustaining a robust digital ecosystem.
Empowering Filipino women through financial education
FOR years, I’ve poured my passion for personal finance into videos and blog posts, crafting guides on budgeting, saving and building a secure future. But the most impactful lessons did not come from spreadsheets: they came straight from the hearts of Filipina women just like those I’m privileged to connect with. In the quiet whispers of my Inbox, I’ve encountered the silent struggles of women from all walks of life, each carrying the weight of their dreams, fears and aspirations.
Senator worried over ads pushing online gambling
SENATOR Manuel “Lito” M. Lapid has expressed concern over the proliferation of advertisements on online gambling on different social media platforms in the country.
Favorable T-bill rates bag P15B for Treasury
THE national government successfully raised its full programmed amount from the tender of Treasury bills (T-bills) after the Bureau of the Treasury (BTr) saw favorable rates on Monday.
Solon eyes gains from Capital Markets Efficiency bill
ONE of the authors of House Bill (HB) 9277 cited the windfall for the medical assistance provided by the Philippine Charity Sweepstakes Office (PCSO) if the proposed Capital Markets Efficiency Promotion Act (Cmepa) is enacted.
DOF upholds BIR order dismissing errant staff
THE Department of Finance (DOF) has confirmed the dismissal of an erring personnel of the Bureau of Internal Revenue (BIR) who was tagged in the tampering and altering of the Point of Sales-Cash Register Machine (POS-CRM), read a statement issued by the BIR last Monday.
Gatchalian wants inquiry on smuggled Bugatti cars
SENATOR Sherwin T. Gatchalian is seeking an inquiry into the smuggling of two Bugatti Chiron sports cars in the hope of addressing revenue leakage due to the illegal entry of luxury vehicles into the country.
Govt lenders, DMW vow delivery of OFW claims
OVERSEAS Filipino workers (OFWs) displaced by the bankruptcies of Saudi Arabian construction companies in 2015 and 2016 will be able to claim their indemnity claims through the over-the-counter banking services of the Land Bank of the Philippines (Landbank).
Zero tariffs on hybrid vehicles ‘not justifiable’ this time–DTI
IMPOSING zero tariffs on hybrid vehicles is “not justifiable” right now as doing so would go against government’s goal of having electric vehicles (EVs) ubiquitous in the industry, according to Trade and Industry Secretary Alfredo E. Pascual.
Maya app operator targets breaking even by December
MAYA Innovations Holdings Pte. Ltd., the Singapore-registered company that operates financial technology app Maya, expects to tread on a growth trajectory in this year and beyond, as it targets to hit breakeven by end-December.
GSIS emergency loan opened in Or. Mindoro
THE Government Service Insurance System (GSIS) announced that its emergency loan window is now open for GSIS members and pensioners who have been affected by the African swine fever in Oriental Mindoro.