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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

House body eases retail trade rules further

THE HOUSE of Representatives Committee on Trade and Industry approved on Tuesday a bill reducing the minimum paid-up capital requirement of foreign retailers to engage in business here......»»

Category: financeSource:  bworldonlineRelated NewsDec 11th, 2018

Dirty money watchdog tightens rules

THE ANTI-MONEY LAUNDERING Council (AMLC) is stepping up its watch on dirty money by requiring all reporting firms to identify and disclose ultimate owners of accounts or products......»»

Category: newsSource:  bworldonlineRelated NewsDec 5th, 2018

India pollution watchdog fines Delhi over toxic smog

NEW DELHI, India – India's environmental watchdog has slapped New Delhi's government with a $3.5 million fine for failing to enforce rules to reduce smog in the world's most polluted major city, officials said Tuesday, December 4. The National Green Tribunal penalized the capital administration for its lack of oversight ........»»

Category: newsSource:  rapplerRelated NewsDec 4th, 2018

P318-M DSWD deals breach CoA rules

The Commission on Audit (CoA) noticed various contracts entered into by the Department of Social Welfare and Development (DSWD)-National Capital Region (NCR) worth P317.796 million were not submitted for a required government review. The CoA report revealed there were contracts from 14 local government units (LGU) for Supplemental Feeding Program, two LGU contracts for Social […].....»»

Category: newsSource:  tribuneRelated NewsNov 4th, 2018

Navigating a new chapter in the US-Philippines’ ‘Long Friendship’

In the Philippines, nearly a year after President Trump first sketched his Free and Open Indo-Pacific policy at the 2017 APEC CEO Summit, uncertainty about how the United States will operationalize its vision lingers. Beijing’s vaunted infusion of capital, and influence across all dimensions of Philippine society, including through its multi-billion dollar investments into key Build, Build, Build infrastructure projects, has amplified this uncertainty. Indeed, the common refrain in Manila is that while the United States remains a good friend, China will always be the Philippines’ watchful, at times menacing, northern neighbor......»»

Category: financeSource:  bworldonlineRelated NewsOct 30th, 2018

BSP tightens rules on cyber risk reporting

IN RESPONSE to the increasingly persistent, sophisticated and targeted attacks launched against financial institutions, the Monetary Board (MB) recently approved amendments to existing regulations which tighten the reporting regime for Bangko Sentral supervised financial institutions (BSFIs) on cyber-related incidents and operational disruptions. Prompt reporting of these incidents by BSFIs will allow the Bangko Sentral to […] The post BSP tightens rules on cyber risk reporting appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsOct 26th, 2018

BSP tightens standards for savings, loan associations

THE CENTRAL BANK is tightening rules covering non-stock savings and loan associations (NSSLAs) by capping service fees and requiring risk management protocols to enhance oversight. The post BSP tightens standards for savings, loan associations appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsOct 16th, 2018

Govt issues final rules for 3rd telco selection

Final rules governing the selection of a new major telco player have been issued, with a challenger to the PLDT-Globe duopoly set to be named by December. A memorandum circular (MC) approved on Thursday and released on Friday requires prospective players to have a minimum paid-in capital of P10 billion, at least 10 years of [...] The post Govt issues final rules for 3rd telco selection appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsSep 22nd, 2018

Zamcelco approves P2.5-b capital infusion

Zamcelco approves P2.5-b capital infusion.....»»

Category: financeSource:  thestandardRelated NewsSep 12th, 2018

Oriental Peninsula formalizes entry into power sector

Listed mining holding firm Oriental Peninsula Resources Group Inc. has formalized its entry into the power sector following its capital infusion in affiliate Oriental Energy and Power Generation Corp......»»

Category: financeSource:  philstarRelated NewsSep 5th, 2018

With rising sea levels, Bangkok struggles to stay afloat

BANGKOK -- As Bangkok prepares to host climate-change talks, the sprawling city of more than 10 million is itself under siege from the environment, with dire forecasts warning it could be partially submerged in just over a decade. A preparatory meeting begins Tuesday in Thailand's capital for the next UN climate conference, a crunch summit in Poland at the end of 2018 to set rules on reducing greenhouse emissions and providing aid to vulnerable countries. As temperatures rise, abnormal weather patterns -- like more powerful cyclones, erratic rainfall, and intense droughts and floods -- are predicted to worsen over time, adding pressure on governments tasked with bringing the 20...Keep on reading: With rising sea levels, Bangkok struggles to stay afloat.....»»

Category: newsSource:  inquirerRelated NewsSep 2nd, 2018

Moody’s affirms Security Bank’s rating

Moody’s Investors Service has affirmed the credit rating of Security Bank Corp. on the back of the bank’s above-industry-average asset quality and strong capital buffers, boosted by a capital infusion from its strategic partner......»»

Category: financeSource:  philstarRelated NewsAug 21st, 2018

BSP eases rules for bank fund raising via bonds

BANKS can now raise fresh capital via corporate bonds with greater ease starting this month, as new rules do away with having to secure approval from the Bangko Sentral ng Pilipinas (BSP). The post BSP eases rules for bank fund raising via bonds appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 12th, 2018

DICT tightens technical requirements as PH searches for 3rd telco player

The Department of Information and Communications Technology (DICT) tightened a key technical requirement as it eased certain financial burdens in the selection rules for a new major telco player. B.....»»

Category: newsSource:  philippinetimesRelated NewsAug 9th, 2018

New York moves to cap Uber, app-ride vehicles

  NEW YORK -- New York's city council on Wednesday dealt a blow to Uber and other car-for-hire companies, passing a bill to cap the number of vehicles they operate and impose minimum pay standards on drivers.   It makes New York the first major US city to limit the number of app-based rides and to impose pay rules, with authorities under pressure to act over pollution and worsening congestion. The financial capital of 8.5 million is the biggest app-ride market in the United States, where public transport woes and astronomical parking costs have helped fuel years of untamed growth by the likes of Lyft and Uber. But that growth has brought New York's iconic yel...Keep on reading: New York moves to cap Uber, app-ride vehicles.....»»

Category: newsSource:  inquirerRelated NewsAug 9th, 2018

BSP simplifies rules for banks’ bond floats

THE CENTRAL BANK has simplified rules for lenders issuing bonds to raise additional capital, its chief said, which is expected to replace long-term note offerings. The post BSP simplifies rules for banks’ bond floats appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJul 27th, 2018

Points system proposed for third telco selection

Max spending commitment under draft rules: P650B over five years Third telco aspirants must be prepared to spend as much as P650 billion over five years if they want to be given the chance to challenge the PLDT-Globe duopoly, new draft rules released on Tuesday showed. Capital and operational expenditures, however, will not be the [...] The post Points system proposed for third telco selection appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJun 27th, 2018

Last straw for McDonald s, Burger King as Mumbai bans single-use plastics

MUMBAI, India – Burger King, McDonald's and Starbucks are among dozens of companies fined for violating a new ban on single-use plastics in India's commercial capital Mumbai, an official said Tuesday, June 26. The rules, in force since Saturday, June 23, prohibit the use of disposable plastic items such as bags, ........»»

Category: newsSource:  rapplerRelated NewsJun 26th, 2018

ANI raises capital of agri bank, forms fintech firm

  The board of listed AgriNurture Inc. (ANI) said it had approved a plan to infuse P100 million in additional capital into affiliate Agricultural Bank of the Philippines (ABP).   The move, which is subject to the approval of the Securities and Exchange Commission and Bangko Sentral ng Pilipinas, will bring ABP's capital to P200 million.   ANI said ABP's capital hike would fund the expansion of the bank's P2P platform and e-wallet business. Through the capital infusion, ANI aims to enhance supply chain microfinance access of Filipino farmers in remote areas using technology.   ANI president and CEO Antonio Tiu said ABP's P2P platform would allow fa...Keep on reading: ANI raises capital of agri bank, forms fintech firm.....»»

Category: newsSource:  inquirerRelated NewsJun 16th, 2018