BSP approves Union Bank& rsquo;s digital subsidiary
The Bangko Sentral ng Pilipinas approved on July 15 the application of Union Bank of the Philippines for an authority to establish a digital bank......»»
GSIS taps Maya for payments
State-run pension fund Government Service Insurance System is expanding its payment channels through a partnership with digital bank Maya Bank Inc......»»
BPI to sell its entire 15% GoTyme Bank stake back to the Gokongweis
Zobel Family banking unit BPI disclosed that its board of directors has approved the sale of BPI’s stake in GoTyme Bank to a subsidiary of JG Summit and a company called Giga Investment Holdings Pte. Ltd. at a price of P1.20/share......»»
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.....»»
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......»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
Union Bank board approves P10-B stock rights offering
The board of directors of Union Bank approved a plan to conduct a stock rights offering to raise up to P10 billion to “fund the capital infusion to UnionDigital” and for “projected retail loan availments”......»»
ADB approves USD 166 mln package for urban infra in Nepal
Manila [Philippines], December 14 (ANI): The Asian Development Bank (ADB) has approved a USD 166 million financing package to boost the local economy in Nepal by building climate- and disaster-resilient cities. The ADB programme aims to contribute to the economic growth in Devdaha, Lumbini Sanskritik, Sainamaina, Siddharthanagar, and Tilottama municipalities, as well as Janakpur sub-metropolitan city and Pokhara metropoli.....»»
ADB approves $2.1 billion financing for Bataan-Cavite bridge project
The Asian Development Bank has approved $2.1 billion worth of financing for the construction of the Bataan-Cavite Interlink Bridge project......»»
ADB approves 2.1 bln USD loan to build bridge in Philippines
MANILA, Dec. 12 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday said it has approved up to 2.1 billion U.S. dollars in loan for the construction of a 32.15 km bridge connecting Bataan and Cavite provinces across Manila Bay to decongest Metro Manila, enabling greater mobility of labor and goods, and enhance economic productivity in the country's largest region of Luzon. The ADB said the Bataan-Cavite Inte.....»»
ADB approves 200-mln-USD loan to boost Philippine infrastructure projects
MANILA, Dec. 8 (Xinhua) -- The Asian Development Bank (ADB) Friday said it has approved a loan of 200 million U.S. dollars to support the Philippines in delivering "high-quality, inclusive, climate-resilient, and low-carbon public infrastructure." The loan will support the preparation of "complex and critical climate-resilient" road, bridge, transport, and flood risk management projects identified by the governm.....»»
Asian Development Bank approves USD 500 million to transform medical landscape in Maharashtra
Manila [Philippines], November 23 (ANI): In a significant move aimed at advancing healthcare infrastructure and medical education, the Asian Development Bank (ADB) has granted approval for a substantial loan package of USD 500 million. According to ADB, this financial assistance is dedicated to enhancing access to quality and affordable tertiary health care in Maharashtra. ADB Health Specialist, Nishant Jain emphasized th.....»»
ADB approves 400 mln USD loan to boost Philippines revenue mobilization
MANILA, Nov. 14 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday said it has approved a loan of 400 million U.S. dollars to help the Philippines achieve its medium-term fiscal strategy and finance its post-pandemic economic recovery through a stronger focus on revenue mobilization. The ADB said the program is its first policy-based loan dedicated to domestic resource mobilization (DRM) reform. It w.....»»
ADB approves $400 million loan for Philippines tax modernization
The Asian Development Bank has approved a $400 million loan to support the Philippines’ revenue mobilization efforts including modernizing tax administration, systems and processes......»»
ADB approves USD 175 million loan to upgrade roads in Madhya Pradesh
Manila [Philippines], October 24 (ANI): The Asian Development Bank (ADB) has granted approval for a USD 175 million loan to enhance road connectivity and climate resilience in Madhya Pradesh, India. ADB has played a pivotal role in supporting the development of road networks in Madhya Pradesh since 2002. This endeavour has led to the enhancement of over 9,000 kilometres of state highways and major district roads, as highl.....»»
ADB approves $303 million loan to prevent flooding in the Philippines
The Asian Development Bank (ADB) said Wednesday it approved a $303 million loan to reduce flood and climate risks and protect people and livelihoods in three major river basins in the Philippines. Source: CGTN.....»»
ADB approves USD 30-mln loan to improve education sector in Bhutan
Manila [Philippines], August 31 (ANI): The Asian Development Bank (ADB) has approved a USD 30 million loan to improve Bhutan's technical and vocational education and training (TVET) system and enhance the skills and employability of its youth. The project will help construct new buildings, workshops, and hostels, and upgrade facilities in technical training institutes in Chumey, Samthang, Rangjung, and the rural developme.....»»
World Bank approves MMDA’s 50-year drainage master plan
The Metropolitan Manila Development Authority proposal for a 50-year drainage master plan in the metropolis has been approved by the World Bank......»»
US approves lab-grown chicken for sale
The United States has granted its first ever approvals to two companies to sell chicken grown directly from animal cells, becoming only the second country to allow lab-grown meat to be offered to consumers. The US Department of Agriculture (USDA) approved food safety systems at facilities of Upside Foods and Good Meat, a spokesperson for the agency told AFP Wednesday, with the companies adding the products would be available soon at select restaurants. Both Upside Foods and Good Meat were cleared on safety grounds by the Food and Drug Administration in November, and the USDA last week reviewed and approved their product labels to ensure they were not misleading. "This approval will fundamentally change how meat makes it to our table," said Uma Valeti, CEO and founder of Upside Foods, in a statement. "It's a giant step forward towards a more sustainable future -- one that preserves choice and life." Josh Tetrick, CEO of Good Meat, the cell-cultured food division of Eat Just, added its "cultivated meat" was now "approved to sell to consumers in the world's largest economy." Producing the meat in large, high-quality volumes is expensive. But, following approval, Upside processed its first order, placed by three-Michelin-star Chef Dominique Crenn's restaurant Bar Crenn in San Francisco. Good Meat, meanwhile, started production of its first batch that will be sold to celebrity chef and philanthropist Jose Andres. Andres will sell the product at a yet-to-be-revealed restaurant in the capital Washington. Several start-ups are aiming to produce the so-called lab-grown meat, which would allow humans to consume animal protein without the associated environmental harms of farming or animal suffering. The products differ from plant-based substitutes such as soy burgers that mimic the texture and flavor of meat but do not contain any animal protein. Eat Just was the first to receive authorization to make artificial meat, in Singapore in 2020. While succeeding in the general lab-meat market has proven complicated, some companies have set their sights on pet food, whose consumers are less picky. Bond Pet Foods, a Colorado start-up, is creating animal protein from a microbial fermentation process to feed dogs. - Eco-friendly? Perhaps not - Lab-grown meat involves first harvesting cells from a living animal or a fertilized egg, to establish a cell bank that can be kept for decades in deep freeze. They are then cultivated in steel tanks where they are fed nutrients similar to what animals would eat. After several weeks, the result product is "harvested" from the tank and molded into shapes, such as chicken filet or satay. While lab-grown meat has been billed as an environmentally friendly alternative, researchers from the University of California, Davis pushed back against this assumption in a study out last month, which hasn't yet been peer reviewed. They found cultivated meat's environmental impact is likely to be "orders of magnitude" higher -- at least in the case of beef, based on production methods. This is because of the energy required and greenhouse gasses emitted across all stages of production. One of the most significant factors is the use of "purified growth media" or the ingredients used to help animal cells multiply, in methods similar to those used by biotechnology firms to make pharmaceuticals. "If companies are having to purify growth media to pharmaceutical levels, it uses more resources, which then increases global warming potential," said lead author Derrick Risner. A widely reported 2022 survey of 2,000 US adults by the nonprofit Farm Forward found two-thirds said they would eat cultivated-meat products. ia/bgs © Agence France-Presse The post US approves lab-grown chicken for sale appeared first on Daily Tribune......»»
ADB approves USD 100 mln loan to upgrade rural Nepal roads
Manila [Philippines], June 15 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million concessional loan for the additional financing of the ongoing project for upgrading rural roads in Nepal. The additional funding will upgrade 324 kilometres of roads. The ongoing project, approved in December 2017, has been upgrading rural roads to boost agriculture and agribusiness development, ADB said Wednesday. The pro.....»»