Deal only with registered entities – AMLC
The Anti-Money Laundering Council (AMLC) has reminded covered persons to deal only with registered designated non-financial businesses and professions (DNFBPs), as failure to do so may lead to sanctions......»»
AMLC to be invited in next Senate hearing on Quiboloy s alleged abuses
The Senate women and gender equality committee has invited the AMLC to attend the next hearing as the panel seeks to determine the extent to which Quiboloy siphoned funding from KOJC followers through money laundering......»»
Unregistered entities may face more stringent AMLC sanctions
Unregistered designated non-financial businesses and professions that failed to register on time could face more stringent sanctions from the financial intelligence unit, according to the Anti-Money Laundering Council......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
VP Sara ready to face ICC charges only before a Filipino court
Vice President Sara Duterte expressed her readiness to confront any allegations against her but insisted that she would only do so in front of a Filipino judge and within the jurisdiction of a Filipino court. In a statement on her Facebook page, she emphasized her refusal to participate in any process that could tarnish the reputation and integrity of the Philippine judiciary system. Duterte adamantly opposed the involvement of foreign entities in the country's legal affairs, citing it as a dishonor to the sacrifices made by Filipino heroes for the nation's freedom. Duterte, who previously served as vice mayor and mayor of Davao City, vehemently denied any involvement in the Davao Death Squad during her terms in office. She expressed dismay over the sudden appearance of a witness against her in the International Criminal Court (ICC) after assuming the vice presidency. Duterte dismissed the accusations and questioned the motives behind the allegations, asserting her capability to accomplish tasks without resorting to unlawful means. In a related development, President Ferdinand Marcos Jr. voiced his refusal to acknowledge the ICC's jurisdiction in the Philippines, considering it a threat to the country's sovereignty. He issued a directive for all government agencies to refrain from cooperating with the ICC, emphasizing the nation's non-recognition of the court's authority. Former senator Antonio Trillanes IV claimed that ICC investigators had gathered substantial evidence against former President Rodrigo Duterte regarding his administration's war on drugs. He anticipated an imminent issuance of an arrest warrant against the former president. Former President Rodrigo Duterte condemned the ICC's decision to initiate a preliminary investigation into the war on drugs, labeling it an insult to the Philippines and challenging the court's jurisdiction within the country. During his presidency, he initiated the withdrawal of the Philippines' membership from the Rome Statute, the treaty that established the ICC. The ICC appeals chamber recently granted a request to resume the investigation into alleged crimes against humanity related to the Philippines' controversial drug campaign, spanning from November 2011 to March 2019. The developments surrounding the ICC's probe into the Philippines' internal affairs have sparked a contentious debate, with key political figures and rights groups expressing divergent views on the matter. The ongoing tensions between the Philippines and the ICC underscore the complex intersection of international law, national sovereignty, and human rights issues......»»
Travel agencies group warns about cheap, illegal operators
The Davao Travel Agencies Association (DTAA) has issued a warning about unregistered and illegal travel and tour operators in their area. These operators have been found to be offering travel and tour services without proper licensing, leading to issues such as lack of refunds, scheduling problems, and other travel arrangement discrepancies. Pia Partoza Montano, a travel agency owner and Vice-President for the Travel and Tours Sector of DTAA, emphasized the prevalence of these unauthorized operators, particularly in inbound tourism, and the challenges in monitoring and regulating them due to their large numbers. Montano also highlighted the potential risks associated with using these unregistered agencies, as they may offer cheaper rates but could lead to problems in case of incidents. To address this issue, the Department of Tourism-Davao (DOT-Davao) has introduced a QR code system to help the public verify the legitimacy of travel agencies by accessing data on authorized and registered operators. The DOT-Davao encourages travelers to transact with accredited enterprises to ensure the quality and reliability of their travel arrangements. Currently, there are at least 109 registered travel and tour agencies in Davao City under DOT-Davao's accreditation. The DOT-Davao also provides information on the requirements for registration and renewal for travel agencies on their official website. This warning serves as a reminder for the public to be cautious and discerning when engaging with travel and tour operators to avoid falling victim to unauthorized and illegitimate services......»»
‘4Ps registered P9 billion deficit due to budget cuts’
The Pantawid Pamilyang Pilipino Program of the government had already registered a “budget deficit” of P9 billion after Sen. Imee Marcos slashed its budget by P13 billion......»»
Over 400 registered on 1st day of voter registration
Over 400 registered on 1st day of voter registration.....»»
10% hike in registered voters expected in Central Visayas
10% hike in registered voters expected in Central Visayas.....»»
DTI: More businesses registered in 2023
DTI: More businesses registered in 2023.....»»
Hamas arrives in Cairo for ceasefire talks with deal ‘on the table’
Washington says a ceasefire deal was already 'on the table,' approved by Israel and awaiting only a sign-off from the militants. But the warring sides give away little information on the state of any progress......»»
Government urged to abolish MAV system
The government should consider abolishing the minimum access volume (MAV) system as the mechanism is prone to corruption and favors only few entities, a member of the central bank’s Monetary Board (MB) said......»»
Vita Coco cements partnership with Philippines in new deal with Century Pacific
Philippine company Century Pacific Food inks a new long-term deal with Vita Coco to help fill the US firm's need for 90 million liters of coconut water over the next five years, as more consumers shift to 'healthier' drinks.....»»
Russian economy on sustainable growth trajectory - Mishustin
The country's GDP expanded above expectations last year Russia has not only withstood the pressure of Western sanctions and outside risks but has also managed to steer its economy toward sustainable growth, Prime Minister Mikhail Mishustin said on Tuesday. Every sector of industry registered positive dev.....»»
DTI seals lease deal with Filinvest
Gotianun–led property developer Filinvest Land Inc. is supporting the Department of Trade and Industry plan to consolidate its various operating units with a deal to lease the company’s entire Filinvest Buendia building in Makati to the agency......»»
Philippine eyes rice deal with Cambodia
The Philippines is eyeing a possible rice supply deal with Cambodia as it braces for the effects of the El Niño phenomenon on its food supply......»»
Italy s Dodgy Detention Deal with Albania
Italy's detention deal with Albania breaches international law and is abusive in many aspects, including by potentially creating legal limbo for vulnerable people. Yet, the plan-to detain in Albania people interdicted or rescued by Ital.....»»
Philippines to sign 5-year rice deal with Vietnam
The Philippines is expected to forge a five-year rice deal with Vietnam during President Marcos’ state visit later this month to ensure stable supply even during calamities, Agriculture Secretary Francisco Tiu Laurel Jr. said yesterday......»»
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'.....»»
Jinggoy denies Roque claim on Sierra Madre ‘deal’
It was “unacceptable” for former presidential spokesman Harry Roque to claim that former president Joseph Estrada made a deal with Beijing to remove the BRP Sierra Madre from the Ayungin Shoal, according to Sen. Jinggoy Estrada......»»
Philippines, Vietnam ink 5-year rice supply deal
The Philippines signed on Tuesday a five-year deal with Vietnam to ensure steady supply of affordable rice to the country as global prices of the staple continue to surge......»»