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UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»
‘Philippine banks to ride wave of robust economic growth’
The projected robust economic growth this year could shape up into a better year for Philippine banks, S&P Global Ratings said......»»
Banks expect higher consumer, corporate loan demand in Q1
Despite the higher for longer interest rate scenario, Philippine banks still expect a stronger loan demand from companies and households in the first quarter of the year, according to the Bangko Sentral ng Pilipinas......»»
More groups to establish Islamic banks in Philippines
More groups are looking at establishing Islamic banks in the Philippines as the first branch of the new banking classification is expected to open soon, according to the Bangko Sentral ng Pilipinas......»»
BSP pursues reforms to modernize banks
The Bangko Sentral ng Pilipinas is pursuing policy reforms to modernize Philippine banks and ensure a sustainable, digital and inclusive banking future......»»
Hearings set on higher senior, PWD discounts
The government is set to hold public consultations this week on the rules for the plan to raise the monthly discount cap on basic necessities and prime commodities for senior citizens and persons with disabilities (PWDs) to P500, according to the Department of Trade and Industry (DTI)......»»
Discount ng senior citizens, PWDs sa ‘grocery’ tataas na ng P500 kada buwan
MAY good news sa lahat ng senior citizens at mga persons with disability (PWD)! Mas malaki na ang makukuha niyong “discount” sa pagbili ng grocery items katulad ng bigas, itlog, tinapay, at marami pang iba. Kung dati, ang weekly grocery discount ay may cap na P65, ngayon ay tataas na ito ng P125! Ibig sabihin,.....»»
Lapu-Lapu attack: Man, who punched, molested boy, nabbed
LAPU-LAPU CITY, Cebu — A 25-year-old man was arrested after he allegedly mauled and sexually molested a 7-year-old child and student in a barangay in Lapu-Lapu City on Monday afternoon, February 12, 2024. The man claimed to have a learning disability and a person with a disability (PWD). Lapu-Lapu police arrested the suspect after the.....»»
Solo parents to get P1K monthly subsidy
The Local Solo Parents' Ordinance, recently approved by the 20th City Council of Davao City, promises a monthly subsidy of approximately P1,000 for eligible beneficiaries. Councilor Tricia Ann Villafuerte highlighted the ordinance's significance in providing vital support to solo parents and their children, as there are approximately 6,000 solo parents in Davao City. This ordinance is an adaptation of the national law, Republic Act 8972, customized to address the unique needs of solo parents in the city. It aims to meet the essential needs of mothers and their children, including school supplies, consultation, laboratory diagnostics, and financial assistance, such as medical, death, and burial aid. Additionally, solo parents will receive a monthly monetary subsidy of P1,000 and are entitled to a 10 percent discount on select basic commodities, similar to senior citizens and Persons with Disability (PWD). To qualify for the benefits, applicants must submit necessary documents and meet specific criteria, while disqualification grounds include changes in civil status and provision of necessary assistance by the other biological parent as per the Family Code of the Philippines. It's important to note that individuals under the Pantawid Pamilyang Pilipino Program (4Ps) are ineligible for the Local Solo Parents' Ordinance......»»
Delivery drivers urge Mayor Baste for business permit exemption
Title: Delivery Drivers Seek Exemption from Business Permit Requirement A group of delivery drivers in Davao is urging Mayor Sebastian Duterte to exempt them from the mandatory business permits. The drivers, including those from various delivery apps such as Grab and FoodPanda, are concerned about the financial burden imposed by the business permits, which range from P2,000 to P6,000. They argue that this requirement is unique to Davao City among all cities and provinces in the Philippines. Grab rider Rolando Atico emphasized the need for solidarity among all delivery drivers, regardless of the app they work for. He urged fellow drivers to support each other, as the financial impact may extend beyond just Grab and FoodPanda. Atico also requested Mayor Duterte to reconsider the requirement and reinstate the previous occupational permit, which only cost P125. The group is facing a 30-day deadline to obtain the business permits, and they are citing financial constraints as a reason for their request for an extension. Failure to comply could result in their removal from the delivery platforms, jeopardizing their livelihoods. Additionally, they are advocating for changes to Davao City's Revenue Code, proposing a model similar to Cebu City, where only an occupational permit is required. The drivers are also calling for an inquiry into the lack of transparency and unilateral actions of food delivery companies, particularly concerning rider capitalization and financial concerns. They believe that a thorough investigation will help ensure fairness and equity in their financial obligations and working relationship with the delivery companies. Maribel Paguican, the Business Bureau officer-in-charge, stated that non-certified delivery riders categorized as service contractors must obtain a business permit. She mentioned two permits for occupational and business activities, with a discounted structure for delivery riders. However, concerns have been raised about increased taxes, potentially ranging from P3,000 to P6,000, along with an additional tax on top of the declared income of P1,400. The delivery drivers' plea for exemption from the business permit requirement reflects their concerns about the financial impact and the potential threat to their livelihoods. Their call for solidarity and support from fellow drivers highlights the urgency of the situation. This story sheds light on the challenges faced by delivery drivers in Davao and the implications of the business permit requirement on their financial well-being. It also underscores their efforts to seek fairness and equity in their working relationship with the authorities and delivery companies......»»
Taguig unveils PWD development center
Taguig has launched the first local government unit-supervised Disability Resource and Development Center in the country......»»
Al-ag proposes to repeal ordinance requiring delivery riders biz permits
Davao City Councilor Bernie Al-ag has proposed the repeal of an ordinance that requires delivery riders to obtain business permits. The ordinance in question, City Ordinance 0612-21 series of 2021, classified delivery riders as independent service contractors, mandating them to apply for business permits. However, a joint memorandum circular issued by various government agencies exempts individuals providing personal services, including delivery riders, from securing business permits. Al-ag emphasized that the city government must adhere to the guidelines set forth in the memorandum. While the proposed repeal is pending, Al-ag advised delivery riders to comply with the existing ordinance. He expressed confidence in the passage of the repeal, citing the solid basis provided by the joint memorandum. Despite a group of delivery riders seeking an audience with Davao City Mayor Sebastian Duterte on the matter, Al-ag's proposal was drafted in response to a separate petition. He clarified that the repeal is not about monetary collection but aligning with national law, which exempts delivery riders from obtaining business permits. Al-ag remains optimistic about the repeal's approval, pointing to the support provided by the joint memorandum as a strong foundation for his proposal......»»
OFW aspirants told: Engage with licensed recruitment agencies only
CEBU CITY, Philippines — The regional director of the Department of Migrant Workers in Central Visayas (DMW-7) warned aspiring Overseas Filipino Workers (OFWs) to engage with only legitimate and licensed recruitment agencies. Lawyer Karl Arriola, DMW-7 director, told CDN Digital that even if he was a lawyer, he still subscribed to the doctors’ advice: Prevention.....»»
COBI urges water district to comply with contractual obligations
Cagayan de Oro Bulk Water Inc. has emphasized the importance of having a cooperative partnership with the Cagayan de Oro City Water District......»»
US Senate panel urges Treasury Dept to make tech firms comply with sanctions
US Senator Mark Warner says tech companies like Alphabet and Meta have continued to provide adtech services to sanctioned entities with ties to 'foreign adversaries'.....»»
SEC-Davao advises timely submission of requirements for amnesty payments
The Securities and Exchange Commission (SEC) Davao Extension Office is reminding corporations who have participated in the amnesty program to ensure timely submission of required documents by January 31. Failure to comply will result in forfeiture of payments and incurring additional penalties as outlined in SEC Memorandum Circular No. 20, series of 2023. Non-compliant corporations must submit their latest General Information Sheet (GIS) and Annual Financial Statement (AFS) through the SEC Electronic Filing and Submission Tool (eFAST). Meanwhile, suspended or revoked corporations should submit their petitions along with necessary documents to the Extension Office via email at secdavao@gmail.com. For more information, applicant-corporations can contact SEC Davao Extension Office at 0932-973-8791. It is important to note that the Commission is planning to implement a substantial increase in basic penalties for late and non-filing of reports post-amnesty period, with penalties potentially increasing by up to 1,900 percent......»»
Marcos tells Australia their strategic partnership is more important than ever
MELBOURNE, Australia (AP) — Philippine President Ferdinand Marcos Jr. told Australia’s Parliament on Thursday that the strategic partnership between the two nations was more important than ever with the rule of law and peace in the region under threat from China. Marcos told a special joint sitting of the two chambers during a state visit.....»»
Employers urged to comply with holiday pay rules ahead of Araw ng Kagitingan, Eid’l Fitr
The attached agency of the Department of Labor and Employment sent a reminder to employers about holiday pay regulations ahead of the upcoming Araw ng Kagitingan and Eid'l Fitr......»»