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Banks ready to back up funding for infrastructure projects

Local banks have expressed support for the government’s massive infrastructure program, saying they are ready to provide financing in case funding delays are encountered by the projects......»»

Category: financeSource: philstar philstarJun 13th, 2018

Banks ready to fund infrastructure projects& mdash;BDO Capital

Banks ready to fund infrastructure projects—BDO Capital Source link link: Banks ready to fund infrastructure projects—BDO Capital.....»»

Category: newsSource:  manilainformerRelated NewsJun 13th, 2018

Crowding in private sector to boost infrastructure dev’t

By Surya Bagchi IN the world of infrastructure, the funding deficit is a well-established fact. Asia needs US$26 trillion by 2030 for new buildouts, and Africa requires US$93 million a year to scale up projects. Much of the money has so far come from direct government financing or funding support from development banks. Infrastructure projects […] The post Crowding in private sector to boost infrastructure dev’t appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 25th, 2018

Cash-rich banks don’t view ODA as competition for funding projects

BY  MELISSA LUZ T. LOPEZ THE DUTERTE GOVERNMENT’S P8-trillion infrastructure spending plan was what local lenders were waiting for. When it was announced in April, it created a stir in the industry for obvious reasons. By helping lend money to big-ticket projects, local banks would be able to deploy cash and earn more from loans, […] The post Cash-rich banks don’t view ODA as competition for funding projects appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 7th, 2018

Local banks capable of funding infra projects — Maynilad exec

MANILA, Philippines — With the government allotting some P9 trillion for infrastructure development in the next six years, a key executive of one of the coun.....»»

Category: financeSource:  philstarRelated NewsSep 30th, 2017

ADB raises funding for PH

The Asian Development Bank will lend the Philippines a higher $945 million this year mainly for infrastructure projects as part of the Manila-based multilateral lender's commitment to support the Duterte administration's ambitious "Build, Build, Build" infrastructure program. The state planning agency National Economic and Development Authority said that during a meeting between Philippine officials and executives of the ADB's Philippine country office last month, the latter said that their lending pipeline for 2018 consisted of two policy-based loans (worth $600 million), one result-based loan ($300 million) as well as two other projects ($45 million). In December last year, the A...Keep on reading: ADB raises funding for PH.....»»

Category: newsSource:  inquirerRelated NewsJun 12th, 2018

Hope Solo says don t vote for US World Cup bid

By Rob Harris, Associated Press LONDON (AP) — A World Cup winner and Olympic champion with the United States, Hope Solo now wants her country to lose one of its biggest soccer contests: FIFA's vote on the 2026 World Cup host. "I can't say it should be awarded to Morocco," Solo told The Associated Press. "But I don't think it should go to the United States, and that's hard to say." Concerns about the financial dealings of the United States Soccer Federation and the closed men's league system led Solo to that conclusion. By choosing to actively campaign against the U.S.-led North America bid, Solo risks alienating herself further from the soccer community in her homeland. The bid leadership was exasperated when informed Solo was undermining their efforts heading into Wednesday's vote, dismissing her criticism of the governance of soccer but declining to go on the record in detail. This is not an isolated eruption against U.S. Soccer. Solo has reason to be disgruntled. After 202 international appearances — a record for an American goalkeeper — Solo was fired over an outburst at the 2016 Olympics against the opposition and a series of off-the-field controversies. In an attempt to take control of the organization that ostracized her, Solo ran for the U.S. Soccer Federation (USSF) presidency in February. There was a resounding verdict: Solo garnered only 1.4 percent of the vote to finish last out of five candidates. Solo still wants to be heard to try to secure equal pay and equal treatment for the U.S. women's team, and force Major League Soccer to open up the closed competition. Her gripes provide a counterpoint to the loyal championing of the American World Cup bid by David Beckham in a video released by MLS, where the former England captain is launching a team in Miami. That is only possible because Beckham secured a cut-price deal for an expansion franchise as part of his contract to play for the Los Angeles Galaxy. "That is not helping the sport in America," Solo said. "I want to see promotion-relegation in the NASL and the MLS. Right now it's true, you have rich ownership groups owning MLS teams and they're only getting richer and they're alienating everybody else. "A new ownership group can't just come in and purchase a team even though they have the financial security, even though they have the commitment. It's controlled by those single individuals at Soccer United Marketing, MLS in particular, (Commissioner) Don Garber." FIFA's statutes enshrine the principle of a system of promotion and relegation in domestic competitions to ensure participation "shall depend principally on sporting merit." The regulations then say that qualification can be subject to other criteria including "financial considerations." MLS stridently defended itself against Solo's criticism, saying team owners have invested more than $3 billion in stadium and training facilities to grow the sport because it's a closed league. "The structure that we have has given owners certainty to make that type of investment," MLS President and Deputy Commissioner Mark Abbott told the AP. "Had we had a system of promotion and relegation it would not have been possible to generate that level of investment from owners, local communities or private banks that help to fund some of these facilities." Solo also questioned Garber's role overseeing MLS and Soccer United Marketing, which is the exclusive marketing partner of U.S. Soccer, while also sitting on the USSF board. "There are too many conflicts of interest that need to be addressed immediately," Solo said. Garber represents MLS on the U.S. Soccer board but recuses himself from discussions about the "sanctioning of other professional leagues in the U.S.," Abbott responded on behalf of the commissioner. Turning on the USSF, Solo said the organization lacks integrity and highlights the absence of an independent ethics committee, which FIFA has. She also filed a claim with the U.S. Olympic Committee, saying the USSF violates a law that offers protections for athletes, alleging improper conditions for soccer players. "If you're an Olympic sport, your national governing body, every NGB has an obligation to give resources and funds to all of its members, not just professional and amateur players or Paralympic team women's teams or youth teams," Solo said. "But what U.S. Soccer does is they give the money directly to the pro teams. So it's in violation of the Ted Stevens Act and I have a hearing in a couple weeks in front of the Olympic Committee. "I also met with Congress members recently. I went to Capitol Hill, met with Republicans and Democrats, and there's a lot of interest to make sure that U.S. Soccer is an organization that actually is run transparently, has integrity and is an open and honest national governing body." Up to 207 soccer federations will vote next Wednesday in Moscow on whether North America or Morocco should host the 2026 World Cup, or the bidding should be reopened by choosing "none of the above." In FIFA's inspections report, North America's bid, which includes Canada and Mexico as minority partners, scored 402 out of 500, while Morocco was marked 275 in part due to a lack of infrastructure. "Hopefully FIFA can stand up and step in and say, 'If we're going to reward you, let's look at everything and point out where you can fix certain things,'" Solo said. Her call for greater transparency from the USSF came after speaking at the London launch conference for the Foundation for Sports Integrity, which has one named official who would not disclose the source of funding for the group or who paid to hire lavish facilities at a Four Seasons hotel. "I want to put my faith and trust in people," Solo said. "Who's funding it? That's no different from the way a lot of organizations are run.".....»»

Category: sportsSource:  abscbnRelated NewsJun 8th, 2018

Big banks ready for new rule – Moody’s

Moody’s Investors Service believes the biggest Philippine banks will be able to comply with new liquidity requirements set to take effect next year. In a statement on Thursday, the debt watcher said that 10 rated Philippine banks would benefit from adoption of the net stable funding ratio (NSFR), recently approved by the Monetary Board as [...] The post Big banks ready for new rule – Moody’s appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 7th, 2018

Duterte back in PH after South Korea visit

President Rodrigo Duterte arrived in Manla shortly beforemidnighton Tuesdayfrom his three-day official trip to South Korea. The President's commercial flight arrived at11:40 p.m.at the Ninoy Aquino International Airport (Naia) Terminal 2. His flight left Sepul at8:50 p.m.(7:50 pmin Manila). President Duterte returned home with a $4.9-billion investment deals and $1-billionofficial development assistance (ODA) for the Philippines' infrastructure projects. During his visit to Seoul, the President met with South Korean President Moon Jae-in where the two leaders agreed to strengthen the diplomatic relations between Manila and Seoul as well as increasing trade and investment wit...Keep on reading: Duterte back in PH after South Korea visit.....»»

Category: newsSource:  inquirerRelated NewsJun 5th, 2018

Banks’ liquidity buffer to be required at 1 year

The Bangko Sentral ng Pilipinas is requiring banks to hold enough liquidity or stable sources of funding for a one-year period starting next year to provide a ready buffer and at the same time further strengthen the industry......»»

Category: financeSource:  philstarRelated NewsMay 30th, 2018

ADB To Focus on Mindanao; Infra to Help Boost PH Growth

The Asian Development Bank (ADB) vowed increased funding for various infrastructure projects thoughout the Philippines, touted as one of Asia’s fastest growing economies, but said it would pay special attention to Mindanao. The multilateral development bank has reaffirmed its commitment to eradicate poverty through achieving inclusive growth in Asia and the Pacific region, as the […].....»»

Category: newsSource:  metrocebuRelated NewsMay 8th, 2018

Infrastructure projects to gain from National ID System

The savings from a more efficient delivery of public services with the implementation of a national identification system would help boost funding for vital government projects and programs, according to Philippine Statistics Authority head Lisa Bersales......»»

Category: financeSource:  philstarRelated NewsMay 7th, 2018

Loan rules for SPEs to widen credit access

UNIONBANK of the Philippines welcomed the move of the Bangko Sentral ng Pilipinas (BSP) to ease rules on the lending ceiling imposed on banks to accommodate financing for big-ticket infrastructure projects. During a roundtable discussion, UnionBank President and Chief Executive Officer Edwin R. Bautista said the central bank’s move is a good thing as this […] The post Loan rules for SPEs to widen credit access appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 1st, 2018

BSP eases SBL rules for project contractors

By Melissa Luz T. Lopez Senior Reporter THE CENTRAL BANK has eased lending ceilings imposed on banks in order to accommodate financing for big-ticket infrastructure projects. In a statement, the Bangko Sentral ng Pilipinas (BSP) said it will allow firms implementing major infrastructure projects to have a separate single borrower’s limit (SBL) as they secure […] The post BSP eases SBL rules for project contractors appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 27th, 2018

LOOK: ONE champ Brandon Vera gets married in Guam

It's been a while since we've seen reigning ONE Championship Heavyweight world champion Brandon 'The Truth' Vera, and that's because outside of the ring or cage, the dude's a pretty busy man.  Aside from a movie and a ton of other projects, the hard-hitting Vera was also getting ready for another big event in his life: getting married.  A little over a year ago, Vera, 40, proposed to his girlfriend Jessica Craven in Guam, and over the weekend, the two finally got hitched in the very same place where Vera popped the question.    I wish I was more eloquently prepared to actually say everything I was feeling on our wedding day. . . Thank you to our family and friends who travelled from everywhere, for... everything. This wouldn’t have happened without y’all. Love y’all very much. P Diddy @philmrw Thank you and your boss @thedavisteam 💚💜🤙🏾. It for sure had to be you brother. be back to Mainland soon to come train with you . Love y’all!!! . . To my Wife...... @n_e_n_j_a . . You make everything in my life so much better, you’re like the morning air coming in every time I see you, you make water taste better and the whole world a more beautiful place. Thank you for being mine lil mamma. . . Here’s to infinity Mrs. Vera 💜💚💜💚💜💚💜💚💜 Photo credit to 1 of Lightshapers Studios by @lally_eleazar , @velvet.tv , and @patrick.camacho or the fam and guests 😂😂😂💪🏾 #happilyveraafter2018 #OneChampionship #Heavyweight #World #Champion #Verafied #VeraClan #VerafiedNenja A post shared by Brandon Vera (@brandonthetruthvera) on Apr 23, 2018 at 5:58pm PDT     #happilyveraafter2018 Wish y’all were there 😊 A post shared by Brandon Vera (@brandonthetruthvera) on Apr 23, 2018 at 9:56pm PDT In front of friends and family, Brandon and Jessica said their vows in a simple sunset ceremony led by Brandon's teammate and Bellator Light Heavyweight Champion Phil 'Mr. Wonderful' Davis.    I still can’t believe it happened, but as of 4/20/18 we became Husband & Wife! 😍 Our beautiful sunset ceremony was led by Phil Davis and his gorgeous wife Angelina assisted :) The wedding ceremony that Phil gave regsinated so much with Brandon and I. Our wedding wouldn’t have been a success if it wasn’t for all of the people surrounding us and working hard to make it happen! I’m sorry if I forgot to mention any particular names in our speech but just know we appreciate you & acknowledge your helping hand. I want to thank our friends & family that travelled all of this way to the beautiful island of Guam. To those whom helped with our DIY wedding, my bridesmaids and groomsmen for going above and beyond to make Brandon and I happy (regardless the stress). To Mark P., Purebred, & Rome for giving us Meskla On The Cove as our wedding present to host our ceremony & reception there. Kuya Mel and Coffee Slut for making the amazing coffee bottles and roasting beans for our special occasion. As well as communicating with Johnny Cool for the ginormous outside tent, changing tent for my reception dress, and the chairs and tables. Thank you to Hafaloha for having our favorite açai bowls and shaved ice! Everyone loved it and/or wished they could of had more but too many people were occupied at the bar 🤤 Thank you Steve Shimizu for making things happen especially while you had another event going on! For providing alcohol, our roasted pig, meat carver, our bartender, etc. And thank you Guelu and your boys for creating the half Chamorro Hut as our bar! Everything was just amazing! Thank you to our caterers from all Over!!! Island Cuisine for the amazing Chamorro food and professional service! Jamaican Grill for providing the jerk adobo spare ribs that Brandon! Fraim for making that delicious dried meat that everyone kept snacking on! Ben & Yan’s for the Pancit Canton as well as Old Town China Buffet for my steamed vegetables. My amazing donut wall from Daddy’s Donuts!!! Crown Bakery for creating a delicious wedding cake and for my various other cakes, pies, and turnovers (even though the humidity wasn’t so nice to it 😅). ***continue caption in the comment section*** A post shared by Jessica Craven (@n_e_n_j_a) on Apr 24, 2018 at 1:28am PDT     #happilyveraafter2018 congrats B n Jess on a beautiful evening and celebration. Made some new homies got to see some old ones too. #fightfamily #420wedding A post shared by AJ Matthews (@aj_mma) on Apr 20, 2018 at 4:56pm PDT Big congratulations to Brandon and Jessica on this new chapter of their lives!  .....»»

Category: sportsSource:  abscbnRelated NewsApr 24th, 2018

DBM sets project spending priorities

THE DEPARTMENT of Budget and Management (DBM) will only prioritize new “implementation-ready” infrastructure projects and social services programs for funding under the 2019 national budget, amid limited fiscal space. The National Budget Memorandum No. 130 dated April 13 outlined the budget priorities framework for the preparation of agency budget proposals under Tier 2 or new […] The post DBM sets project spending priorities appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 18th, 2018

ADB maintains bullish outlook for Philippines

THE ASIAN Development Bank (ADB) sees the Philippines sustaining its upward economic growth trajectory on the back of the government’s push for large-scale infrastructure projects. In its flagship Asian Development Outlook 2018 report, the regional lender projected the country’s gross domestic product (GDP) growth at 6.8% this year, steady from its December projection, and expects […] The post ADB maintains bullish outlook for Philippines appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 11th, 2018

Duterte: I need China to back my administration’s projects

"I need China," said President Rodrigo Duterteon Monday, stressing that he would count on Beijing to back his administration'sprograms, especially his multi-trillion infrastructure projects. "More than anybody else at this time of our national life, I need China.I will not say something which is not good," he said in a press briefing in Davao City before leaving for China. The President will attend the Boao Forum for Asia in Hainan province of China onApril 9 and 10. The forum is an annual gathering of government and business leaders. He said the Philippines was being good to China in exchange of financial perks. "If you do not have money, you are not my friend. I go to C...Keep on reading: Duterte: I need China to back my administration’s projects.....»»

Category: newsSource:  inquirerRelated NewsApr 9th, 2018

China eyes PH airport funding

China is interested to finance an airport project in the Philippines, while San Miguel Corp.'s proposal to build an "aerotropolis" in Bulacan will soon be up for President Duterte's approval, the National Economic and Development Authority said Tuesday. Neda Undersecretary Rolando G. Tungpalan told reporters that among the "second basket" of infrastructure projects to be pitched for Chinese financing included an airport, in which China itself earlier expressed interest, but he did not disclose details. Tungpalan added that the Chinese side might also be tapped to finance the construction of 10 more bridges crossing the Pasig River in Metro Manila, which was approved for official de...Keep on reading: China eyes PH airport funding.....»»

Category: newsSource:  inquirerRelated NewsApr 3rd, 2018

Philippines, Asian Development Bank put up $164-million funding for infra studies

MANILA, Philippines — The government has put up a $164-million funding facility to ensure that infrastructure projects would meet international standards, ac.....»»

Category: financeSource:  philstarRelated NewsApr 1st, 2018

WATCH: Emily Blunt brings magic back in ‘Mary Poppins Returns’

London will experience magic once again as everyone's favorite nanny returns for a new adventure. The first trailer for "Mary Poppins Returns" gives a glimpse of what actress Emily Blunt looks like donning the iconic outfit that Julie Andrews first wore in 1964. The movie is set 25 years after the first film. Jane and Michael Banks are now grown-ups, and Poppins pays them a visit after Michael suffers a personal loss. Also featured in the trailer is "Hamilton" star Lin-Manuel Miranda, who will play Jack, an apprentice to Dick Van Dyke's character Bert. Will Poppins be able to help Michael get through his problem? Get ready to witness the next chapter as "Mary Poppins Retu...Keep on reading: WATCH: Emily Blunt brings magic back in ‘Mary Poppins Returns’.....»»

Category: newsSource:  inquirerRelated NewsMar 9th, 2018