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Himachal Pradesh CM Sukhu inaugurates 22 new branches of HPSCB; launches two new schemes
Shimla (Himachal Pradesh) [India], March 6 (ANI): Chief Minister Sukhvinder Singh Sukhu virtually inaugurated 22 new branches of the Himachal Pradesh State Cooperative Bank (HPSCB) on Wednesday. According to an official release from the Chief Minister's Office (CMO), "CM Sukhu launched two new schemes, the 'One-Time Resolution Scheme' and a Loan Scheme for developing high-density apple orchards."The Chief Minister also la.....»»
EastWest Bank sees sustained profit gains
Gotianun-led East West Banking Corp. is targeting to sustain its double-digit income growth this year as it expects higher consumer loan demand, according to its top official......»»
Philippines sees remittances rise 2.6 pct in March
MANILA, May 15 (Xinhua) -- Personal remittances from overseas Filipinos reached 3.05 billion U.S. dollars in March, recording a 2.6 percent growth year-on-year, the Philippine central bank said on Wednesday. The Bangko Sentral ng Pilipinas (BSP) said the cumulative personal remittances in the first quarter amounted to 9.15 billion dollars, 2.8 percent higher than the amount in the same period in 2023. The.....»»
Recto sees at least 5.8 percent GDP growth in Q1
The Philippine economy may have expanded by at least 5.8 percent to as much as 6.3 percent in the first quarter as inflation remained a concern for the government......»»
Franchising industry sees 8–10 percent growth this year
The country’s largest franchising association is looking to grow franchise stores and revenues by eight to 10 percent this year as more foreign brands are interested to enter the country, while local brands continue to expand......»»
Fitch sees Philippine economy growing by 6.4% in 2024
“We expect output growth to accelerate to 6.4 percent in 2024, reflecting base effects from a weaker 2023 and our assessment that policy rates have peaked. Consumer confidence has been weakening, but business confidence has recovered strongly.”.....»»
Think tank sees likelihood of BSP rate cuts starting Q2
The Bangko Sentral ng Pilipinas is expected to start cutting interest rates in the second quarter following the economic growth posted last year, according to UK-based think tank Pantheon Macroeconomics......»»
Landbank sees 2-digit earnings this year
Land Bank of the Philippines is looking at a double-digit growth in net income this year following a record performance in 2023......»»
BSP sees room for further rate hike
After discounting the possibility of a rate cut in the first half of the year, the Bangko Sentral ng Pilipinas (BSP) believes there is still room to raise interest rates amid the country’s robust economic growth......»»
Brawner sees more maritime drills with other countries
More countries have expressed interest in conducting joint military drills with the Philippines in the South China Sea to ensure a “free and peaceful Indo-Pacific,” Armed Forces of the Philippines chief Gen. Romeo Brawner Jr. said yesterday......»»
Asialink eyes P2.4 billion in truck loans as e-commerce grows
Asialink Finance Corp. is looking at lending as much as P2.4 billion this year to the fast growing market for brand new and used trucks that are essential to the growth of e-commerce and logistics......»»
Investment banker named Converge CFO
Broadband provider Converge ICT Solutions Inc. has tapped the expertise of seasoned banking and investment executive Robert Leo Yu to serve as its chief finance officer......»»
Senior citizens, disabled among mujahideen to get allowance from BARMM
COTABATO CITY (MindaNews / 27 February)— An initial P500-million fund coming from the office of the chief minister will finance allowances for former Moro combatants who are already senior citizens or permanently disabled. This was after the Bangsamoro Parliament approved a measure to establish an office that will provide financial aid to Moro Islamic Liberation […].....»»
Globe reports steep 73.7% decline in blocked bank-related spam, scam SMS in 2023
The telecommunications company Globe has reported a significant 73.7% decrease in the number of blocked spam and scam SMS related to banks in 2023. This reduction is a result of the interception of 21.9 million bank-related fraudulent messages, a sharp decline from the 83.39 million messages blocked the previous year. Globe attributes this achievement to its proactive strategies and strong partnerships with major banks and financial institutions in the Philippines. The company has established anti-fraud alliances with the Bankers Association of the Philippines and individual players in the finance sector, enabling the sharing of data and intelligence to prevent and investigate fraud effectively. Anton Bonifacio, Chief Information Security Officer at Globe, emphasized the company's commitment to combating financial fraud and enhancing security measures for customer protection. Globe has invested approximately US$20 million to improve its spam and scam SMS detection and blocking system and operates a 24/7 Security Operations Center to filter out unwanted messages from both international and domestic sources. Despite certain limitations, Globe remains dedicated to customer protection and emphasizes the need for a unified approach in the fight against fraud. The company is focused on leveraging technology and strengthening alliances with key stakeholders to combat fraudulent activities. As Globe continues to advance its technologies and collaborations, it aims to provide a safer and more secure digital environment for its customers. For more information about Globe and its initiatives, visit www.globe.com.ph. (SPONSORED CONTENT).....»»
Diokno turns over DOF helm to Recto
Secretary Ralph Recto started the ball rolling as he formally took over the helm of the Department of Finance, with former DOF chief and now Monetary Board member Benjamin Diokno handing over the agency in a simple ceremony yesterday......»»
Grab contributes up to 0.3 percent to GDP – study
Ride-hailing giant Grab Philippines contributes as much as 0.3 percent to the economy, as a peso spent on the platform generates an additional P3.42 in output, according to a recent report......»»
Inflation quickens to 3.9% in May
Inflation hit a six-month high in May, driven by faster upticks in utility and transport costs, according to the Philippine Statistics Authority......»»
Factory gate prices post slower decline
Producer prices continued to decline at a slower pace in April due mainly to the faster increase in prices of computer and electronic products, according to the Philippine Statistics Authority......»»
Government urged to invest on boosting internet connection
Concerned stakeholders are urging the government to focus more on boosting the Philippines' investment in broadband connections, noting the growing need for faster and better internet connection among Filipinos......»»
Destruction of Gaza in numbers: ‘Unlike anything we have studied’
As well as killing more than 34,000 people and causing catastrophic levels of hunger and injury, the seven-month war between Israel and Hamas has also caused massive material destruction in Gaza. “The rate of damage being registered is unlike anything we have studied before. It is much faster and more extensive than anything we have.....»»