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GCash bank transfers to be charged by October

Mobile wallet GCash is set to charge a P15 fee per fund transfer or cash out transaction to a bank or Electronic Money Institutions using the InstaPay network starting Thursday......»»

Category: financeSource: philstar philstarSep 28th, 2020

UnionBank digitizing corporate clients

Last October 20, Union Bank of the Philippines (UnionBank) held the fifth installment of its E-TalkTales series wherein Head of Transaction Banking Mon Duarte discussed the Bank’s various transaction banking solutions, particularly The Portal, its all-digital banking platform for corporate clients......»»

Category: techSource:  thestandardRelated NewsOct 24th, 2020

Bus driving through flooded street, damaging resto, bank prompts call for probe

CEBU CITY, Philippines — Cebu City Councilor Jerry Guardo is calling for an investigation on a bus that drove at high speed through waist-deep floodwaters at General Maxilom Avenue creating a huge wave in its wake that damaged some establishments in the area on Tuesday night (October 13). Netizen Lacida Geno captured the incident on […] The post Bus driving through flooded street, damaging resto, bank prompts call for probe appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 14th, 2020

We now start planning for economic recovery

    THE Philippines, along with the rest of the world, suffered considerable contraction of its economy because of the COVID-19 pandemic. In its October, 2020, Economic Update for East Asia and the Pacific, the World Bank said it expects the Philippine economy to contract by 6.9 percent in 2020. But it should rebound to […].....»»

Category: newsSource:  tempoRelated NewsOct 4th, 2020

PH is Asia& rsquo;s worst in pandemic management

First the good news: The COVID-19 pandemic has been contained, at least in Asia, says the World Bank in its October 2020 update on the East Asia and the Pacific (EAP) economies. Shutdowns or lockdowns have been phased out in most countries, except in the Philippines......»»

Category: newsSource:  thestandardRelated NewsOct 1st, 2020

Thailand Moves a Step Closer to Welcoming Back Foreign Tourists

Thailand will start issuing special visas to foreign tourists starting October, easing a more than five-month-old ban on visitors to revive the nation’s ailing tourism-reliant economy. Prime Minister Prayuth Chan-Ocha’s cabinet approved a proposal to issue visas to tourists planning to stay between 90 and 280 days in Thailand, according to government spokeswoman Traisuree Taisaranakul. The tourists will undergo a mandatory 14-day state quarantine on arrival at partner hotels or hospitals and follow health and safety regulations, she said. The government expects about 1,200 visitors to avail themselves of these visas each month, generating about 1.2 billion baht ($38.5 million) in revenue. The easing of border restrictions may boost the nation’s pandemic-battered tourism industry and cushion the blow to an economy projected to contract 8.5% this year. The news of cabinet approval for special visas triggered a rally among hotel and travel operators in Bangkok. A measure of Thai tourism and leisure stocks jumped 4.5%, the biggest gainer among the Stock Exchange of Thailand’s 28 industry groups. It was also the index’s largest increase since May 26. While Hotel operators Erawan Group Pcl and Central Plaza Hotel Pcl surged more than 8%, Minor International Pcl advanced 5.5%. Thailand’s tourism and hospitality sectors are counting on the return of international visitors, who contributed to two-thirds of tourism income before the pandemic, to reverse the slump in businesses and save millions of jobs. A government campaign to boost travel by locals through hotel and air travel concessions has failed to make up for the slump in earnings, but the move to allow foreigners in small batches will still be a relief to the industry. “There will not be a huge economic impact from this as it still can’t compensate for the revenue lost, but it will help,” Somprawin Manprasert, chief economist at Bank of Ayudhya Pcl said. “This plan still targets a higher-spending group of foreign visitors which will not benefit tourism industry operators that have lower to mid-price points, who will still suffer.” The move to relax curbs on foreign tourists also follows Thailand’s relative success in containing the coronavirus outbreak. The nation went without a local transmission for 100 days before the virus-free run was ended early this month. Though Thailand was the first country outside China to report the deadly virus, its cumulative cases stand at 3,480 with most patients already discharged from hospitals. The reopening to foreign tourists may be risky, but it is a manageable risk worth taking, Bank of Thailand’s Senior Director Don Nakornthab wrote in an article on the central bank’s website. The country may be headed for a second straight year of contraction in 2021 if it continued to restrict foreign visitor arrivals, Don wrote......»»

Category: sportsSource:  abscbnRelated NewsSep 15th, 2020

Cash remittances dip 6.4% in January-May

The central bank said cash remittances or transfers via the banking system has declined by 6.4 percent year-on-year in the first five months of the year to $11.554 billion from $12.349 billion.  “The decline in cash remittances was due to the negative effects of the continued limited operating hours of some banks and institutions that provide money transfer services during the lockdown and the repatriation of many OFWs (Overseas Filipino Workers) in March 2020,” said the Bangko Sentral ng Pilipinas (BSP) in a statement Monday. The cash remittances of land-based overseas Filipinos dropped 7.2 percent to $8.965 billion compared to same time last year of $9.664 billion. The remittances of sea-based workers also dipped 3.6 percent to $2.589 billion from $2.684 billion.  “By country source, the US registered the highest share to total overseas Filipinos remittances at 39.4 percent for January–May. It was followed by Singapore, Saudi Arabia, Japan, the United Kingdom, United Arab Emirates, Canada, Hongkong, Qatar, and Taiwan,” the BSP said. “The combined remittances from these countries accounted for 78.8 percent of total cash remittances.” For the month of May only, remittances sent through the banks decreased by 19.3 percent to $2.106 billion compared to $2.609 billion same time in 2019. Also for the month of May, personal remittances fell by 19.2 percent to $2.341 billion versus $2.896 billion in May 2019. Personal remittances from land-based workers with work contracts of one year or more slipped by 21.2 percent to $1.77 billion in May from $2.24 billion. Sea-based workers and land-based workers with work contracts of less than one year also declined by 12.4 percent to $519 million from $592 million in 2019. According to the BSP, “this is the third consecutive month that personal remittances posted year-on-year contraction amid the adverse effects of the COVID-19 pandemic on global economic activity, travel, and employment, resulting in the repatriation or deferment of employment of many OFWs.” For the cumulative January-May, personal remittances went down by 6.4 percent year-on-year to $12.835 billion from $13.707 billion. Personal remittances as defined by the BSP, is the “sum of net compensation of employees, personal transfers and capital transfers between households.” For 2020, the BSP expects cash remittances to contract by five percent and end up with $28.6 billion and then recover next year, bouncing back to a four percent growth to $29.8 billion. Last year, cash remittances reached $30.133 billion or up 4.1 percent from 2018, while personal remittances grew by 3.9 percent year-on-year to $33.467 billion......»»

Category: sportsSource:  abscbnRelated NewsAug 3rd, 2020

Judges question warrants in Kraft massage parlor sex case

By TERRY SPENCER Associated Press FORT LAUDERDALE, Fla. (AP) — Florida appellate judges on Tuesday questioned the legality of search warrants that let police secretly video record New England Patriots owner Robert Kraft and others paying for massage parlor sex, pressing a prosecutor on his contention that the warrants were legally valid. Deputy Solicitor General Jeffrey DeSousa found himself repeatedly queried by the three-judge panel as he tried to persuade them that the warrants and searches met all constitutional protections and that they should overturn lower court rulings that barred the recordings' use at trial. Misdemeanor charges against Kraft, 79, and other customers would have to be dropped if those rulings stand, although felony charges against the spa owners might proceed as there is other evidence against them. Kraft and others were charged in February 2019 in a multi-county investigation of massage parlors that included the secret installation of video cameras in the spas' lobbies and rooms. Police say the recordings show Kraft and other men engaging in sex acts with women and paying them. Police say they twice recorded Kraft, a widower, paying for sex at the Orchids of Asia massage parlor. Kraft has pleaded not guilty but issued a public apology. Judge Robert Gross, who presided at the Florida Fourth District Court of Appeal hearing, seemed taken aback by DeSousa's contention that he and his colleagues should primarily consider the plain language of the Fourth Amendment. It says judges can issue warrants if police demonstrate probable cause of a crime, that warrants must specify the place to be searched and what can be seized. Gross told DeSousa he seemed to be ignoring numerous rulings by the U.S. Supreme Court expanding Fourth Amendment protections since the 1960s, including some that restrict electronic surveillance by police. “You are getting us off on the wrong foot by focusing on the language of the Fourth Amendment when we should be focusing on the Supreme Court jurisprudence....that is heavily weighted against you,” Gross told DeSousa. The 90-minute hearing included arguments on whether cameras were necessary; on whether the police violated the privacy of customers who simply received massages; and on the proper sanction if the defendants' rights were violated. The attorneys for Kraft and the other defendants argued that police failed to minimize the privacy violations they committed by recording innocent customers, including women, who received legal massages. “These cameras, that were put into private massage rooms where patrons would be undressing as a matter of course, they recorded everything," Kraft attorney Derek Shaffer said. He said Kraft “had the same reasonable expectation of privacy that any massage patron going to a licensed facility would be entitled.” Attorneys also argued the cameras weren't necessary as police already had enough evidence to charge the spa owners, including bank records, website advertising, outside video surveillance and napkins containing bodily fluids retrieved from garbage bins. The only proper punishment for prosecutors and police, they argued, is to throw out all recordings. DeSousa argued that police and prosecutors need the recording to convict the owners of felonies. The owners must be shown receiving payments from the prostitutes and the only way to get that is to install cameras, he said. He said detectives had to fully record all massages, because the sex acts happened at their conclusion and 95% of male customers received one. While no female customers paid for sex, they were few in number and to not record them could be seen as discriminating against men, he said. DeSousa said even if the court finds police violated innocent customers' privacy rights, the Supreme Court has ruled that in most circumstances, only improperly seized evidence should be thrown out. Since Kraft, the other men and the masseuses were engaged in crimes, their recordings should be permitted, he said. “Given the unique and difficult circumstances confronting these officers, the conspiracy, the logistics of the operation, what they reasonably anticipated they would see and the difficulty of knowing at the start of any given massage will this end with a happy ending or will it not, we think what law enforcement did here was entirely reasonable,” DeSousa said. The court usually takes weeks to issue rulings. The losing side will likely appeal to the state Supreme Court, which could accept the case or let the decision stand. If convicted, Kraft would likely receive a fine, community service and other sanctions, but he could also be suspended or otherwise punished by the National Football League......»»

Category: sportsSource:  abscbnRelated NewsJul 1st, 2020

GCash to charge convenience fee

Card payment partners of mobile wallet GCash will charge a minimal convenience fee of 2.58 percent for cash-in via MasterCard/Visa bank card services starting July 6......»»

Category: financeSource:  philstarRelated NewsJun 29th, 2020

Globe, CIMB boost strategic partnership

CIMB Bank strengthened its strategic partnership with the mobile wallet of Globe Telecom Inc. to widen the reach of GCredit, a digital credit facility available for GCash users. .....»»

Category: financeSource:  thestandardRelated NewsJun 24th, 2020

Poverty rate seen to rise this year

More Filipinos will be plunged into poverty this year even as government cash transfers and wage subsidies attempt to blunt the effects of the economic fallout from the coronavirus disease 2019 pandemic on the most vulnerable, according to the World Bank......»»

Category: newsSource:  philstarRelated NewsJun 10th, 2020

All set for SERVE AS ONE Variety Show for volleyball gameday personnel

The country's volleyball idols are ready to put on a show on Friday and Saturday. But instead of trading spikes, the players will showcase their off-court talents online in the much-awaited SERVE AS ONE Variety Show, a fundraising effort for volleyball personnel presented by Volleyball Community Gives Back PH. The show is scheduled at 7:30 p.m. on the ABS-CBN Sports Website, ABS-CBN Sports Facebook Page and ABS-CBN Sports YouTube Channel.. One of the best young open spikers in the country, Eya Laure is raring to display her talents - in singing. "Ready na ba kayo marinig ang maganda kong boses? HAHAHA," said Laure on her Twitter account. Teaming up with Alina Bicar, Laure will pit against Gel Cayuna and Ced Domingo in a "complete the lyrics" challenge. Other volleyball stars will also show their prowess like Kalei Mau, who is expected to sing with her guitar in tow, while Panpan Pantino, Beauty Denila and Bia General are also ready to jam for a cause. Erstwhile collegiate rivals Alyssa Valdez and Ara Galang will reconnect through the "GaDez Reacts" segment where both of them will react to some of their most iconic plays during their UAAP days which will also highlight the first day.        It will be also an exciting second day on Saturday. Fans will find more about Jema Galanza and Deanna Wong in “Storytime with GaWong” where the duo will find out who is better at recalling their memorable moments together. Beach volleyball standouts Sisi Rondina and Bernadeth Pons and AJ Pareja and Pemie Bagalay will reunite online where they will know their teammate better in this segment. For more fun challenges in the two-day event, please visit Volleyball Community Give Back on Facebook and @vcgbph on Instagram and Twitter. Donations can be sent to Ryan Sordan through BPI bank account 8069 0632 77, GCash at 0917-5003390 and PayMaya at 0917-5003390.       There will be also a virtual after-party on the VCGB PH Facebook page featuring DJs Rammy Bitong, Sir Scratch and James on Friday, and Jon Tupaz, Ivan Constantino and Boyet Evangelista on Saturday......»»

Category: sportsSource:  abscbnRelated NewsJun 4th, 2020

Volleyball Community Gives Back PH to hold SERVE AS ONE Variety Show

Volleyball Community Gives Back PH has something to serve up for those matchday personnel affected by the COVID-19 pandemic. Charo Soriano, who is one of the VCGB PH leaders, is looking forward for two memorable fun days from the sport's biggest stars through the SERVE AS ONE Variety Show.  A fundraising effort for volleyball personnel presented by Volleyball Community Gives Back PH, the show is scheduled on June 5 and 6, 7:30 p.m. on the ABS-CBN Sports Website, ABS-CBN Sports Facebook Page and ABS-CBN Sports YouTube Channel. "Time and time again, the Philippine volleyball community has exemplified solidarity in the face of various adversities - from community development, natural disaster responses, relief operations and more recently,  distribution of PPEs to different provinces. Everyone helps out. And people - players, coaches, management, staff, officials, and fans - all do their part," said Soriano. Last month, the #CARINGFORALL: Down The Line, We Are One was launched to provide assistance for the paid-per-day personnel, as any help will go a long way. As of last Friday, VCGB PH was able to provide 200 care packs to volleyball personnel all over Metro Manila. The group hopes to raise funds and provide care packs to be distributed for more volleyball personnel families affected by the postponement and cancellation of volleyball leagues. Help is on the way and Kiwi Ahomiro, who recently lent her hand in delivering PPEs to the Philippine Army, is more than ready.  "We wanted to reach out and help our volleyball personnel and staff and all those who made our games possible - bouncers, ball retrievers, referees, technicians all those whose livelihoods have been threatened due to COVID-19 so we came up with the idea of putting up the SERVE AS ONE Variety Show. All proceeds will go to the care packages for their families," said Ahomiro. Aby Maraño, who was involved in distributing the second wave of care packages, saw the hardships of the matchday personnel. "Our volleyball officials and personnel felt really sad about the fact that volleyball will stop for the next month cause volleyball from most of them is the only source of income they have. I learned that they started small businesses like selling sweet Pinoy desserts, some are selling peanut butters and garlic spicy sauce only to sustain their lives amidst the pandemic situation," said Maraño. Also taking part in handing out the care packages was Amanda Villanueva, who hopes that the help will go a long way to boost the spirits of the volleyball game's unsung heroes. "In these trying times my main motivation in helping our dearest group of volleyball personnel is the vision of hope that everything will eventually come to an end. To let them know as well that we are in this together and that nobody gets left behind in life whichever direction life leads us because we are one community and we strive to help each other in whatever way we can. To stand together as one family not just on the court but also outside of the court," said Villanueva. It may still a long way to go but Alyssa Valdez believes that the volleyball community will be in the same page to keep the personnel afloat in this challenging time. "The fight is far from over, we’re like in a championship situation, like 14-14 all, fifth set. We need one another to be able to win this fight! So I’m inviting everyone...let’s go help serve and win as one," said Valdez. Donations can be sent to Ryan Sordan through BPI bank account 8069 0632 77, GCash at 0917-5003390 and PayMaya at 0917-5003390.       Meanwhile, a total of 2,081 protective personal equipments (PPEs) was distributed by the VCGB PH in the #ServeOurFrontliners: RAFFLES FOR HEROES fund drive for the medical frontliners who are doing a valiant battle against coronavirus.    VCGB PH was already able to donate 310 PPEs to Sultan Kudarat, 220 to Quezon Medical Center, 301 PPEs to Batangas, 200 to Aklan, 100 to Puerto Galera, 200 to Cebu, 250 to Northern Mindanao Medical Center, 300 to National Children’s Hospital, 100 to Army, 50 to Navy and 50 to Maysan Health Station.  Please visit Volleyball Community Give Back on Facebook and @vcgbph on Instagram and Twitter for more details......»»

Category: sportsSource:  abscbnRelated NewsMay 30th, 2020

Showbiz personalities join VCGBPH drive for frontliners

Fresh from its highly-successful volleyball bundle raffles, Volleyball Community Gives Back PH is not yet done in raising funds for the frontliners battling the coronavirus (COVID-19) pandemic. The group will be raffling off memorabilias from famous showbiz celebrities.      Among the pre-loved items which the celebrities will give away from this campaign are Miss Universe 2015 Pia Wurtzbach's Converse sneakers, actor Dingdong Dantes' motorcycle helmet and Kapamilya star Kathryn Bernardo's two pairs of Sunnies sunglasses.      Derek Ramsay, Jennylyn Mercado, Rovilson Fernandez, Angelica Panganiban, Marco Gumabao, Mimiyuuh, Elisse, Hashtag Luke and Paulo Arvie are also taking part of the Celebrity Bundle raffle, with all the proceeds to be dedicated in producing more personal protective equipment (PPEs).       Led by Alyssa Valdez, Charo Soriano, Amy Ahomiro, Gretchen Ho, Aby Maraño and Amanda Villanueva, VCGBPH has produced 2,000 PPEs which have already distributed to Sultan Kudarat, Quezon Medical Center Batangas, Aklan, Puerto Galera, Cebu, Northern Mindanao Medical Center in Cagayan de Oro, Muntinlupa and Quezon City.        This was made possible from the #ServeOurFrontliners: RAFFLES FOR HEROES campaign, where memorabilia from the volleyball players including jerseys, training shirts, shoes and a coffee table book were given away for the winners.             All raffle items will be shipped once the lockdown has been lifted.      Donations can be sent to Ryan Sordan through BPI bank account 8069 0632 77, GCash at 0917-5003390 and PayMaya at 0917-5003390.            In the #CareForAll fund drive for those volleyball game day personnel who were affected by the suspension and cancellation of leagues due to the COVID-19 pandemic, VCGBPH has already distributed care packs to about 175 families.        VCGPH will also have a unified Philippine Volleyball Community Variety Concert online to raise funds for the #CareForAll campaign. For more details, visit Volleyball Community Gives Back on Facebook and on Instagram and Twitter.    .....»»

Category: sportsSource:  abscbnRelated NewsMay 18th, 2020

UnionBank branches are open except in some select areas, as well as those on quarantine and local holiday.

To ensure your safety, we encourage you to bank from home – do your fund transfers, tax and bills payments, check deposits and other transactions online. If you absolutely need to, there’s a fast and easy way to deposit and withdraw using our ATMs, cash deposit machines and check deposit machines in selected branches......»»

Category: financeSource:  thestandardRelated NewsMay 14th, 2020

Lebanon bank deposits plunge $5.7 billion in January-February 2020

BEIRUT, Lebanon – Prime Minister Hassan Diab said on Friday, April 24, that Lebanese bank deposits have plunged $5.7 billion in the first two months of the year despite curbs on withdrawals and a ban on transfers abroad. Lebanon is grappling with a severe lack of liquidity and its worst economic crisis in decades, ........»»

Category: newsSource:  rapplerRelated NewsApr 25th, 2020

PNB opts to waive fees on remittances

The country’s fifth largest lender, Philippine National Bank, is waiving the remittance fees for various channels until May 8, 2020. The waiver applies to cash transfers that will be credited to PNB deposit accounts in the Philippines......»»

Category: financeSource:  thestandardRelated NewsApr 12th, 2020

Euro banks told to freeze dividend payments

The European Central Bank on Friday asked eurozone banks to freeze dividend payments “until at least October 2020” to preserve liquidity that can be used to help households and companies through the coronavirus crisis. The Frankfurt institution also asked banks to not to buy back shares, another tool to reward shareholders, at a time when […] The post Euro banks told to freeze dividend payments appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMar 27th, 2020

SBI Q3 profit jumps 41 pc to Rs 5,583 cr as asset quality improves

Mumbai (Maharashtra) [India], Jan 31 (ANI): Government-owned State Bank of India (SBI) on Friday reported the highest-ever quarterly net profit of Rs 5,583 crore in the October to December quarter, up.....»»

Category: newsSource:  manilanewsRelated NewsFeb 1st, 2020

SBI Q3 profit jumps 41 pc to Rs 5,583 cr as asset quality improves

Mumbai (Maharashtra) [India], Jan 31 (ANI): Government-owned State Bank of India (SBI) on Friday reported the highest-ever quarterly net profit of Rs 5,583 crore in the October to December quarter, up.....»»

Category: newsSource:  philippinetimesRelated NewsJan 31st, 2020

But where& rsquo;s the cash?

We get stymied by reports, quoting the Bangko Sentral ng Pilipinas, suggesting that personal remittances or transfers in cash or in kind by Overseas Filipino Workers have grown by 7.7 percent to $2.97 billion in October......»»

Category: newsSource:  thestandardRelated NewsDec 27th, 2019