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What s Wrong With Secretary Kim star Park Min Young making first-ever Manila visit in May
The Korean star of "What's Wrong With Secretary Kim" and "When The Weather Is Fine" Park Min Young will be having her first-ever fan meeting in the Philippines this May......»»
Cebu bus terminals: 100,000 passengers expected on March 27
CEBU CITY, Philippines — At least 100,000 passengers are expected to flock to two of the biggest bus terminals here in Cebu for the Holy Week this year. As early as 7 a.m. on Holy Wednesday, dozens already queued for buses at the Cebu North Bus Terminal (CNBT) in the North Reclamation Area. READ MORE:.....»»
DOF: GFIs can seek extended relief after Maharlika infusion
Government financial institutions Land Bank of the Philippines and Development Bank of the Philippines will likely seek an extension of its regulatory relief following contributions to the country’s sovereign wealth fund......»»
UnionDigital Bank revenue grows to over P5 billion
UnionDigital Bank, the digital banking arm of Aboitiz-led Union Bank of the Philippines, saw its revenue grow to over P5 billion in 2023 mainly driven by higher deposits and loans......»»
Over 40 defective weighing scales seized in Carbon Market
CEBU CITY, Philippines — The Office of the City Markets (OCM) of the Cebu City Government has confiscated over 40 defective weighing scales in Carbon Public Market as of March 21. Led by Market Administrator Robert Barquilla, the operation, dubbed “Operation Timbangan,” aims to ensure accurate measurements for customers. Barquilla, with assistance from Task Force.....»»
Top 10 e-commerce sites in the Philippines 2019 - ASEAN UP
With a dynamic economy and a large population proficient with digital technologies, the Philippines is a fast-growing market for e-commerce in Southeast Asia. Several websites and digital applications are already fighting for market share, with global, regional and national players. The growing connectivity of the Philippines, rapidly overcoming the countrys infrastructure difficulties, enable more and Continue reading &q.....»»
Philippine bond market hits $217 billion in Q4
The Philippine bond market went up slightly in the fourth quarter of 2023 due to the increase in government bond issuances, according to a report from the Asian Development Bank......»»
First poster ng ‘Secret Ingredient’ ni Julia, 2 Asian actors ibinandera na
HUMANDA na sa nakakatakam na upcoming romantic series! Ipinasilip na ang first poster para sa K-Drama na “Secret Ingredient” na pinagbibidahan ng Pinay actress na si Julia Barretto, kasama ang Korean star na si Sang Heon Lee at Indonesian actor na si Nicholas Saputra. Ang serye ang kauna-unahang collaboration ng Viu Philippines at Unilever Nutrition.....»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
Philippines posts 196 mln USD deficit in February
MANILA, March 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 196-million-U.S. dollar deficit in February, significantly lower from the 895-million-dollar BOP deficit recorded a year ago, the country's central bank said on Tuesday. The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in February reflected outflows arising mainly from the national government's foreign currency deb.....»»
Annual Stockholders Meeting of UnionBank slated on April 26
The annual stockholders' meeting of Union Bank of the Philippines will be held virtually on April 26, 2024 at 1:00 p.m......»»
BPI lends fresh P7 billion to Home Credit Philippines
Bank of the Philippine Islands has extended an additional P7 billion loan to Home Credit Philippines, making it the financing firm’s biggest lender......»»
ADB: Manufacturing benefits the most from remittances
The manufacturing sector is the biggest recipient of spending made by households receiving remittances from overseas Filipino workers, according to the Asian Development Bank......»»
Ivanka Trump ordered to testify in father’s fraud trial
The New York judge presiding over Donald Trump's civil fraud trial ordered his daughter Ivanka on Friday to testify in the case. Ivanka Trump, 41, was initially named in the lawsuit against Trump and his two eldest sons brought by New York's attorney general but was eventually dropped as a defendant. Trump and his sons Don Jr and Eric are accused of inflating the value of the real estate of the Trump Organization for years to obtain more favorable bank loans and insurance terms. Judge Arthur Engoron dismissed an attempt by Trump's attorneys to quash a subpoena issued to Ivanka Trump by Attorney General Letitia James but gave her until November 1 to appeal the decision. Ivanka Trump served as a senior advisor to her father, the frontrunner for the 2024 Republican presidential nomination, while he was in the White House but has kept a low profile since he left office. She abandoned her roles in the Trump Organization in January 2017, when her father became president and she and her husband, Jared Kushner, both took up posts in his administration. Before that, Ivanka Trump was an executive vice president of the Trump Organization and was notably in close contact with one of the group's biggest lenders, Deutsche Bank, according to the attorney general's office. The 77-year-old Trump and his sons are also expected to testify at some point during the trial being held in Manhattan. The former president does not risk going to jail, but James is seeking $250 million in penalties and the removal of Trump and his sons from management of the family real estate empire. Trump has repeatedly denounced the trial as a Democratic witch hunt intended to derail his 2024 White House bid. The post Ivanka Trump ordered to testify in father’s fraud trial appeared first on Daily Tribune......»»
Crypto crackdown intensifies on Hamas finance
Cryptocurrency has become the latest front in the conflict between Israel and Hamas, analysts say. Israeli and US authorities have intensified their financial hunt into Hamas in recent days as they track illicit funds via digital currencies. Ari Redbord, global policy head at crypto tracking specialist TRM Labs, said there is now less crypto transfer activity on pro-Hamas support networks as a result. "We are seeing a lot less activity in some respects since the war began," Redbord told AFP. This is "primarily because Israel has been very aggressive and successful in taking down these fundraising efforts", he added. Israel has bombed Gaza in response to an unprecedented cross-border attack by Hamas militants who, while firing a massive rocket barrage, killed more than 1,400 people and took 222 hostages on 7 October, according to Israeli authorities. Israeli strikes have now killed more than 6,500 people in Gaza, according to the Hamas-run health ministry. Shadowy world Cryptocurrency is regarded as a speedy way to move cash that is unregulated by any central bank and is less traceable than a traditional bank transfer. The shadowy world of digital units, based on decentralized blockchain technology, has gained notoriety for illicit transactions due to its under-the-radar appeal. Two weeks ago, Israeli police revealed they had located and frozen accounts linked to Hamas that sought "to solicit donations on social networks" via Binance, the world's biggest cryptocurrency exchange. A Binance spokeswoman said it "follows internationally recognized sanctions rules, blocking the small number of accounts linked to illicit funds". Redbord, formerly a senior US government adviser, said Hamas had adopted crypto from 2019 at the latest, to seek funding via the Telegram messaging network and even on its own website. Hamas decided in April that it would no longer accept cash via Bitcoin due to increased global surveillance of the world's biggest digital unit. Crypto fundraising is now operated via a network of Hamas-linked support groups. TRM Labs has closely monitored virtual crypto wallets linked to such support groups since the start of the war. And it has concluded that much smaller amounts of cash than usual are being moved. Two weeks after the attacks, support group Gaza Now received less than $6,000 in one of its crypto wallets, Redbord noted. That compared with $800,000 in total since the wallet's creation in August 2021. Meanwhile, authorities are well aware that digital assets are a minor part of a complex funding picture. The US State Department estimates that Iran funnels $100 million per year to Palestinian groups including Hamas. 'Small piece of puzzle' "Cryptocurrency is a very small piece of a larger financing puzzle for Hamas," said Redbord. "They are looking to Iran; they're... imposing taxes on the Palestinians; they have a network of charities and a diaspora of supporters who are sending donations not in cryptocurrencies." "But crypto does play a role," he said. Digital currencies still represent a significant revenue stream for Hamas and other allied groups. Crypto addresses identified by Israel as being linked to Hamas received about $41 million between August 2020 and July 2023, according to Israeli analytics and software firm BitOK. Other crypto addresses linked to Islamic Jihad received in excess of $154 million between October 2022 and September 2023, with some still active, it adds. Some players in the sector simply turn a blind eye. "Some cryptoasset businesses are intentionally or unwittingly allowing misuse of the crypto ecosystem," said Joby Carpenter, an expert on the industry. "This trend is magnified where exchanges are based in lightly or unregulated jurisdictions," he told AFP. The post Crypto crackdown intensifies on Hamas finance appeared first on Daily Tribune......»»
Higher biofuels blend to mitigate spiking fuel prices
The Department of Energy will release the guidelines before the year ends to govern the implementation of the long-delayed higher biofuels blend—a measure that would help offset increasing fuel prices. Energy Secretary Raphael Perpetuo Lotilla announced at a press conference hosted by the Presidential Communications Office on Tuesday that the current 10 percent ethanol blend, also known as E10, in gasoline will be voluntarily increased to 20 percent or E20. Likewise, Lotilla added that the current two percent or B2 coco methyl ester or CME blend on diesel will be adjusted to three percent or B3. Based on the DoE calculation, implementing the E20 blend could significantly cut gasoline prices by around P1.28 to P1.50. While ethanol is generally cheaper than gasoline, Lotilla, however, noted that local ethanol at P79.49 a liter is still more expensive than the imported supply at P41.84 per liter. Relatedly, Lotilla said the DoE will bank on the coconut industry, whose production reaches up to 15 billion nuts annually, to complement the B3 shift. “An additional 1 percent blend only needs 2.6 billion nuts. The increase in the blend can also drive down the cost of CME because there will be a bigger market for it. Right now, we expect pure diesel to be at parity with the per liter price of CME,” Lotilla explained. Under Republic Act 9367 or the “Biofuels Act of 2006,” a one percent CME blend was added to local diesel; it was last increased to 2 percent in 2007. It also mandates that only locally sourced biofuel components should be used in the biodiesel blend. The Biofuels Act intends to create a sustainable future by decreasing the importation of refined fuel, such as diesel and gasoline, while also boosting farmers' incomes. Responding to the development, Dean Lao Jr., president of Chemrez Technologies Inc., the country’s biggest producer of premium CME, said the move will significantly benefit the consumers. “The feedstock is available and the capacities for making CME are ready to support the increase in mandate. We expect many benefits to come with a B3 mandate: mileage improvement; lower pollution; import substitution and value-adding of coconut oil," Lao said in a separate statement. "These benefits will come with no practical cost to the government, yet have extensive benefits to the country,” he added......»»
Belarusian exiles lose hope
When police in Belarus began knocking on doors and interrogating citizens suspected to have taken part in pro-democracy rallies three years ago, Maxim Isayev knew he could never go back. Like thousands of others, the 32-year-old engineer and father of two peacefully protested against the disputed re-election of strongman leader Alexander Lukashenko in 2020 and is currently wanted by the country’s authorities. “I know that they came to my address in Belarus and searched for me,” Maxim told AFP in Warsaw, where he now lives with his wife and children. More than 100,000 people are thought to have left Belarus since security forces began violently cracking down on dissidents, many of whom fled to neighboring Poland and the Baltic states. Lukashenko now wants to shut them out for good. In January, he signed a law allowing courts to strip “extremist” dissidents living abroad of their citizenship, and in September he blocked Belarusian embassies from issuing passports. The decision effectively deprives thousands of Belarusian dissidents of the ability to renew their passports unless they return, making it difficult for them to travel internationally, access public services, open bank accounts or obtain employment. “If people are forced to return to Belarus, many of them will be exposed to rights violations, like arbitrary arrest, and torture,” UN rights expert Anais Marin told AFP after the decision. Describing Lukashenko’s decree as “outrageous,” she called on all governments to refrain from sending Belarusians back to their country over invalidated or expired passports. For Maxim, who fears he faces multiple criminal charges including terrorism, returning is not an option. “I took part in the protests. Rallies, marches, calls for sanctions,” he said. “There are more than ten counts I could be charged with.” Since 1994, Lukashenko has ruled Belarus with an iron fist, in what critics have called Europe’s last dictatorship. Elections held in August 2020 resulted in another landslide victory for the long-time leader, a result which the opposition decried as blatantly falsified. The fallout from the vote led to the biggest protests in Belarus’ modern history, which were soon followed by a record number of arrests. “There are situations where people were travelling to the funeral of their relatives. They were detained and put in jail,” said Helena Niedzwiecka, founder of the Belarusian Solidarity Center that supports exiles in Poland. “You can be imprisoned for liking a post in 2020.” Maxim, whose families’ passports expire in 2024, debated with his wife whether it was safe for her to go back, given she had made fewer political posts. “I said okay, if you want to go, you are an adult... Take one of the children.” “You will get a few years for your political views,” Maxim said. “And they will put the child into an orphanage.” They decided against the idea. Lukashenko has criticized those who have sought refuge abroad as disloyal, casting them as “criminals” who do not deserve citizenship. “Are these people worthy to remain citizens of Belarus if they have fled their native country and actually severed ties with it?” he asked at a government meeting last year. Most dissidents say it is the state that severed ties with them. “My contract with my country was terminated in 2020,” said Inga Okava, a 49-year-old former volunteer who was jailed for trying to independently monitor the 2020 elections. “They falsified everything that everybody wanted,” she sighed. WITH AFP The post Belarusian exiles lose hope appeared first on Daily Tribune......»»
PSEi set for another revamp
Aboitiz-led Union Bank of the Philippines, among the country’s biggest lenders, will be removed from the 30-member Philippine Stock Exchange index following new rules on shares held by state pension funds......»»
World Bank chief vows to tackle ‘dysfunctionality’ at development lender
World Bank President Ajay Banga said Tuesday that he is working to reform "dysfunctionality" in the boardroom of the development lender, and pledged to refocus its mission to better address the challenges posed by climate change. The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its current twin mandate of poverty alleviation and boosting shared prosperity to include climate change. "I think the twin goals have to change to being elimination of poverty, but on a livable planet, because of the intertwined nature of our crises," he said. He added that he was working to redefine the World Bank's business around what he called five key knowledge "verticals": people, prosperity, planet, infrastructure, and digital. Fixing the plumbing Banga, an Indian-born naturalized US citizen, was nominated to lead the World Bank earlier this year by President Joe Biden and began his new role in June. The bank has historically been led by an American, while the International Monetary Fund (IMF) has been run by a European -- a controversial arrangement that has existed since the two institutions were founded in the aftermath of the Second World War. Banga has already made a number of changes to the bank's management since taking over, setting up a new 15-person private sector advisory board, and pledging deeper cooperation with regional development banks to tackle shared challenges. On Tuesday, Banga vowed to "fix the plumbing" at the bank, which he said suffered from "dysfunctionality" in the boardroom. The World Bank's board is made up of 25 executive directors appointed by its 189 member countries, who must balance the interests of the development lender with those of the states they represent. "I want people to say when I’m gone that I left the bank working much better than when I got it, because then my successor will not have to deal with what I’m dealing with," he said. Climate change Proposals to reform the World Bank's balance sheet from countries including the US and Saudi Arabia could add as much as $125 billion in extra lending capacity if they come to pass, Banga told the audience in New York. This would be a significant increase for the development lender, which mobilized just over $100 billion in financing last year. Banga has previously called on the World Bank to collaborate more closely with the private sector to meet the enormous costs associated with climate change mitigation and adaptation. On Tuesday, Banga said the bank should carefully target where it wants to encourage private investment to help cap carbon emissions in order to have the biggest impact. "We need to focus on 10 countries where the growth of emissions will be so high if we don't change to renewables that all the work we do in the developed world to reduce the use of emission-heavy energy will be lost," he said, without naming them. These middle-income countries are states "where there is some hope for the private sector, both in terms of scalable models and the like, that renewable energy could make money," he added. In order to invite the private sector to participate, the World Bank should offer to manage some of the political risks associated with climate-related investments in these countries, along with the risk of currency fluctuations, Banga said. The World Bank group already has a political risk agency, but the foreign exchange risk is an issue that still needs to be resolved, he told the audience in New York. "That's the way to involve the private sector," he added. The post World Bank chief vows to tackle ‘dysfunctionality’ at development lender appeared first on Daily Tribune......»»
India using anti-money laundering rules to ‘silence critics’ — Amnesty Int’l
India is exploiting recommendations by a global money-laundering watchdog as a "draconian" tool to shutter civil society groups and suppress activists and critics, Amnesty International said Wednesday. Government critics within civil society organizations and the media have long complained of harassment in the world's biggest democracy under Prime Minister Narendra Modi's Hindu-nationalist administration, a charge it strenuously denies. Amnesty said the recommendations of the Paris-based Financial Action Task Force (FATF) were being abused to bring in "draconian laws to stifle the non-profit sector" and block organizations from funding. The 39-nation FATF, of which India has been a member since 2010, is mandated to tackle global money laundering and terrorist financing. Critics say Modi's government has sought to pressure rights groups by heavily scrutinizing their finances and clamping down on foreign funding. "Under the guise of combatting terrorism, the Indian government has leveraged the Financial Action Task Force's recommendations to tighten its arsenal of financial and counter-terrorism laws which are routinely misused to target and silence critics," Amnesty International India chair Aakar Patel said in a statement. In the last 10 years, India has canceled the licenses of more than 20,600 non-governmental organizations, with nearly 6,000 of these taking place since 2022, the report said. In 2020, Amnesty International had to suspend its Indian operations after its bank accounts were frozen. The Indian government defended its move, accusing Amnesty of "illegal practices" involving the transfer of "large amounts of money" from Amnesty UK to India. Journalists critical of the government also complain of increased harassment, both on social media -- where Modi's ruling party has a powerful presence -- and in the real world. The post India using anti-money laundering rules to ‘silence critics’ — Amnesty Int’l appeared first on Daily Tribune......»»