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BSP tightens capital infusion rules

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK has set stricter rules for lenders in choosing strategic investors, as the regulator raised standards on pledges for additional capital. The Bangko Sentral ng Pilipinas (BSP) issued Circular 1002 dated May 10, which tightens standards for banks in declaring capital infusions from third party investors […] The post BSP tightens capital infusion rules appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineMay 17th, 2018

BSP tightens rules on white knights in distressed banks

The Bangko Sentral ng Pilipinas has tightened the requirements for the entry of “white knights” or third party investors to address the capital deficiency and restore the viability of a distressed bank......»»

Category: financeSource:  philstarRelated NewsMay 18th, 2018

PSE proposes continued trading on special non-working days in NCR, gov’t work suspensions

THE PHILIPPINE Stock Exchange (PSE) is proposing an amendment to the trading day clause under the Revised Trading Rules to make it a policy to have continued operations on: (1) Special non-working days in the National Capital Region, and (2) Days when work in government offices is suspended but not in the private sector. The […] The post PSE proposes continued trading on special non-working days in NCR, gov’t work suspensions appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 12th, 2018

4 Public-Private Sector Partners Launch QBO App for PH Startups

S tartups, more so in their infancy, need all the help they can get, not just capital infusion, but also mentors and other experts, among others, to guide digital entrepreneurs. In relation with th.....»»

Category: newsSource:  manilanewsRelated NewsMar 4th, 2018

2GO invests in online delivery firm Mober

Leading logistics provider 2GO Group Inc. has boosted its digital infrastructure with a deal to invest in Mober Technology PTE (Mober), a pioneering tech startup that offers a platform for same-day delivery of bulky items in the Philippines. Mober founder Dennis Ng said on Wednesday that 2GO - a partnership between SM group and Davao-based businessman Dennis Uy - infused fresh capital in exchange for equity in Mober. Aside from the latest capital infusion, Ng said Mober would now be able to service SM's retailing businesses, providing them same-day delivery capabilities. The amount of capital infusion and the equivalent stake were not disclosed but sources estimated this wa...Keep on reading: 2GO invests in online delivery firm Mober.....»»

Category: newsSource:  inquirerRelated NewsFeb 28th, 2018

DICT relaxes rules for third telco player

Committed services and not financial resources will be the basis for choosing the country’s third major telecommunications player, the Department of Information and Communications Technology (DICT) said as it announced the dropping of a P10-billion net worth requirement. “The P10-billion capital required will be [taken]out [because]we have been receiving … comment[s]from the stakeholders themselves,” DICT [...] The post DICT relaxes rules for third telco player appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsFeb 27th, 2018

2Go invests in Mober online delivery service

SM Investments Corp.’s integrated transport solutions provider 2GO Group, Inc. (2GO) is investing in the online delivery service Mober Technology PTE. In a statement issued Friday, Mober said it has received a capital infusion from 2GO, effectively linking it to SM Investments Corp. (SMIC). The holding firm of the country’s richest man Henry Sy, Sr. […] The post 2Go invests in Mober online delivery service appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 24th, 2018

SABAH IS OURS! ‘Malaysia tightens grip on mineral-rich island of Sulu sultanate’

MALAYSIA HAS tightened its grip on Sabah which is being claimed by the Sultanate of Sulu following a proposal – by a member of the Philippines’ 25-man consultative committee tasked with reviewing and proposing amendments to the Constitution – to include the mineral-rich island as the country’s 13th federal state. Former senator Aquilino Pimentel Jr made the proposal while Filipino lawmakers are preparing to amend the 1987 Constitution and shift from presidential to federal form of government. He said the Duterte administration should continue to push for the country’s claim to Sabah in a way acceptable to international laws. “There should be a way that is acceptable under international laws to assert our claim to Sabah. I think we can defer it a little bit more, but to say that we stop doing it is not in the context of my proposal,” he told ABS-CBN Television recently. He also wanted Scarborough and Spratlys – which is being claimed by China and other ASEAN countries as theirs – to be part of the federated states of the Philippines.  Pimentel has also proposed the following to form part of the federal states Northern Luzon, Central Luzon, Southern Luzon, Bicol, Eastern Visayas, Central Visayas, Western Visayas, Minparom, Northern Mindanao, Southern Mindanao, Bangsamoro and Metro Manila as its capital. “Eventually once we have asserted our sovereignty and rights over Sabah, we should include Sabah. Not only Sabah, but also Scarborough, Benham Rise, and Spratlys,” Pimentel said. According to a report by Channel News Asia, Kuala Lumpur has strongly rejected Pimentel’s proposal to include Sabah as a federal state of the Philippines. “Malaysia is aware of remarks made by Mr Aquilino Pimentel Jr, a member of the Philippines’ Consultative Committee, which appeared in the media on the claim on Sabah recently,” it said, citing Malaysian Foreign Minister Anifah Aman as saying in a press statement. “The Government of Malaysia reiterates its position that Malaysia does not recognise and will not entertain any claims by any party on Sabah. Sabah is recognised by the United Nations and the international community as part of Malaysia since the formation of the Federation on 16 September 1963,” Anifah said. “Therefore, statements such as these will only expose the ignorance of history and international law of those who make them, as well as potentially harming the excellent bilateral relations which Malaysia and the Philippines currently enjoy.” Death Sentence Just last month, Malaysia’s Supreme Court upheld the death sentence for 9 Filipinos who were charged with waging war against the Malaysian King during the 2013 assault on Lahad Datu in Sabah. The Filipinos have been identified as Julham Rashid, 70; Virgilio Nemar Patulada, 53; Salib Akhmad Emali, 65; Tani Lahad Dahi, 64; Basad Manuel, 42; Datu Amirbahar Hushin Kiram, 54; Atik Hussin Abu Bakar, 46; Al Wazir Osman, 62; and Ismail Yasin, 77. Chief Justice Md Raus Sharif said the January 15 decision of the five-man panel of the Federal Court was unanimous, according to reports by The Star and Asia News Network, adding, the panel agreed with the Court of Appeal that the death sentence was the most appropriate based on the findings of the facts of the case. The other judges were Chief Judge of Malaya Ahmad Maarop, Chief Judge of Sabah and Sarawak Richard Malanjun, and Justices Ramly Ali and Azahar Mohamed. Basad Manuel is the son of the Jamalul Kiram III, the self-proclaimed Sultan of Sulu, who died from multiple organ failure in Manila in 2013. The bloody incursion by some 200 followers of Kiram from the southern Philippines in February 2013 was inspired by the supposed sultan’s claims of historical dominion over Sabah. The two-month siege was the most serious security crisis faced by Malaysia in years, involving armed conflict between the Sultan’s loyal followers and the Malaysian armed forces sent to root them out. The panel also dismissed the prosecution’s appeal against the acquittal of 14 men on the charge of waging war against the King and terrorist-related offences linked to the intrusion from Feb 12 to April 10, 2013, the reports further said. Chief Justice Md Raus said the panel has no reason to decide otherwise and affirmed the decision by the Court of Appeal delivered last June. At the height of fighting between Kiram’s followers and security forces, Malaysia deployed armoured vehicles and combat helicopters, including naval boats in an effort to flush out the Filipinos on the oil-rich island being claimed by both sides. About a dozen armoured personnel vehicles arrived in the town of Lahad Datu to support ground troops hunting down at least 50 members of the Sultanate of Sulu headed by Raja Muda Agbimuddin, the sultan’s younger brother. The group intruded Sabah in February 2013 to exert claim over Sabah, citing historical and legal claims, but Malaysia rejected this and launched a massive assault on about 200 of the sultan’s men following a deadline for them to surrender peacefully. The assault by Malaysian jets and ground artilleries left at least 62 intruders dead, but the fighting between the two groups also killed and wounded 18 Malaysian policemen and soldiers. Malaysia arrested more than 300 Filipinos who are suspected of supporting or aiding Raja Muda Agbimuddin’s group under a strict anti-terrorism law. More than 2,000 Filipino Muslims have returned to Sulu and Tawi-Tawi provinces after fleeing Sabah in 2013 for fear they would be arrested in a massive crackdown launched by Malaysian on illegal immigrants and […].....»»

Category: newsSource:  mindanaoexaminerRelated NewsFeb 3rd, 2018

Globe tightens rules on 3rd parties to protect vs nakaw-load

MANILA, Philippines— Ayala-led Globe Telecom has announced tighter rules for its 3rd-party value-added service  providers (VAS)  to guard against unscrupulous practices. Such practices result in prepaid load deduction which customers often mistake as nakaw or stolen load. “Unknown load deductions happen when customers click on an online advertisement link or ........»»

Category: newsSource:  rapplerRelated NewsFeb 2nd, 2018

Government tightens screws on terror financing

MANILA, Philippines — The government has approved rules for tighter regulation of terrorist financing......»»

Category: newsSource:  philstarRelated NewsDec 7th, 2017

Rebel-held Yemen capital braces for famine as blockade tightens

SANAA, Yemen – Residents of Yemen's rebel-held capital said Thursday, November 9,  rising food and fuel prices were making life increasingly difficult because of a Saudi-led blockade that the UN warned could bring the world's worst famine in decades. Sanaa residents said the price of gasoline jumped 50 percent, the value ........»»

Category: newsSource:  rapplerRelated NewsNov 9th, 2017

No more ban on field trips after CHEd tightens rules on off-campus activities - Inquirer.net

No more ban on field trips after CHEd tightens rules on off-campus activities - Inquirer.net.....»»

Category: newsSource:  googlenewsRelated NewsAug 10th, 2017

Finance: China Bank gets SEC okay for CBCC capital hike

CHINA BANKING Corp. (China Bank) has received the Securities and Exchange Commission's (SEC) green light for its capital infusion into its investment house China Bank Capital Corp. (CBCC)......»»

Category: financeSource:  bworldonlineRelated NewsJul 6th, 2017

BSP tightens rules on bank IT systems

MANILA, Philippines -  The Bangko Sentral ng Pilipinas (BSP) is drafting a new regulation which will provide a more enhanced and holistic framework for infor.....»»

Category: financeSource:  philstarRelated NewsJun 28th, 2017

DTI tightens rules on steel imports

MANILA, Philippines -  The Department of Trade and Industry (DTI) has come out with a proposal that will tighten requirements for steel imports to better ens.....»»

Category: financeSource:  philstarRelated NewsJun 7th, 2017

Macau tightens rules to prevent laundering

Macau tightens rules to prevent laundering.....»»

Category: financeSource:  thestandardRelated NewsMay 8th, 2017

China tightens rules for online news providers

China tightens rules for online news providers.....»»

Category: newsSource:  rapplerRelated NewsMay 4th, 2017

China tightens rules for online news providers

China tightens rules for online news providers.....»»

Category: newsSource:  manilatimes_netRelated NewsMay 3rd, 2017

BSP tightens digital authentication rules

BSP tightens digital authentication rules.....»»

Category: financeSource:  thestandardRelated NewsApr 27th, 2017

DTI tightens rules on cement, steel imports

MANILA, Philippines - The Department of Trade and Industry (DTI) is imposing tougher rules on imported construction materials such as cement and steel to ens.....»»

Category: financeSource:  philstarRelated NewsApr 20th, 2017

Keep strong bank capital rules – Outgoing US Fed governor

Keep strong bank capital rules – Outgoing US Fed governor.....»»

Category: newsSource:  manilatimes_netRelated NewsApr 5th, 2017