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Local fintech PayMongo secures fresh capital from US investors

PayMongo would also be using the fresh capital to support more online payment options, have faster payout cycles and build more partnerships with other firms......»»

Category: newsSource: philstar philstarSep 28th, 2020

PayMongo secures $12 million additional funding

PayMongo, a Filipino-owned online payment platform, has secured $12 million in funding from key investors to further boost its digital platform in the country......»»

Category: financeSource:  philstarRelated NewsSep 30th, 2020

Xinhua Asia-Pacific news summary at 1000 GMT, Aug. 25

HONG KONG -- The aggregate balance in Hong Kong's banking systems hit a nearly three-year high with a strong local currency and a continuous capital influx, reassuring investors about the stability.....»»

Category: newsSource:  philippinetimesRelated NewsAug 27th, 2020

Carmudi to Ramp Up Operations as Parent Company CarDekho Group Secures USD70M in Fresh Funds

Carmudi Philippines is set to scale up its operations as its parent company CarDekho group, India’s leading auto-tech company, raises USD70 million in Series D funding from leading investors in China and Europe. Carmudi Philippines is the country’s largest used car classifieds website. Carmudi’s acquisition by CarDekho in 2019 marks the latter’s second country of […].....»»

Category: newsSource:  metrocebuRelated NewsFeb 14th, 2020

Carmudi parent secures $70-M funding

CARMUDI Philippines Inc. is set to expand its operations after its parent, Indian automobile technology company CarDekho, generated fresh funds amounting to $70 million. In a statement on Wednesday, the car classifieds website said CarDekho raise the amount through Series D funding from investors in China and Europe. “CarDekho’s Series D funding mainly comes from […].....»»

Category: newsSource:  manilatimes_netRelated NewsJan 31st, 2020

LOOK: Albay supermarket uses banana leaves, abaca instead of plastic

ALBAY, Philippines – A local supermarket in Legazpi, capital city of this province, has started using banana leaves and abaca ties in place of plastic for wrapping fresh produce. Liberty Commercial Center (LCC), a commercial establishment in Bicol, initiated this program for its supermarket branch at Ayala Malls Legazpi ........»»

Category: newsSource:  rapplerRelated NewsApr 28th, 2019

Stocks ease on lack of fresh leads

MANILA, Philippines – The local stock market retreated yesterday as investors continued to stay on the sidelines ahead of the US Fed meeting next week, analy.....»»

Category: financeSource:  philstarRelated NewsSep 14th, 2016

Asian markets mostly up but held back by stimulus uncertainty

Asian markets mostly rose Friday but gains were limited as US lawmakers struggled to hammer out a fresh economic rescue package, while investors were largely unmoved by the last presidential debate.....»»

Category: newsSource:  manilanewsRelated News17 hr. 21 min. ago

Markets mostly up but held back by stimulus uncertainty

Stock markets mostly rose Friday but gains were limited as US lawmakers struggled to hammer out a fresh economic rescue package, while investors were largely unmoved by the last presidential debate.....»»

Category: newsSource:  manilanewsRelated News17 hr. 21 min. ago

PH magiging Asya fintech center sa ‘blockchain’ bill ni Salceda

Nakasalang ngayon sa Kamara ang “Blockchain Technology Development Act” o House Bill 7864 ni Albay Rep. Joey Salceda. Oras na maging ganap na batas gagawin umano nitong ‘financial technology (fintech) capital’ amg Pilipinas sa buong Asya. Ang ‘Blockchain technology’ na kumikilala sa “cryptocurrency,” ay isang teknolohiya ng kusa at ligtas na paraan ng pagpasa ng […] The post PH magiging Asya fintech center sa 'blockchain' bill ni Salceda first appeared on Abante......»»

Category: newsSource:  abanteRelated NewsOct 23rd, 2020

Asian markets mostly up but held back by stimulus uncertainty

Asian markets mostly rose Friday but gains were limited as US lawmakers struggled to hammer out a fresh economic rescue package, while investors were largely unmoved by the last presidential debate.....»»

Category: newsSource:  philippinetimesRelated NewsOct 23rd, 2020

Markets mostly up but held back by stimulus uncertainty

Stock markets mostly rose Friday but gains were limited as US lawmakers struggled to hammer out a fresh economic rescue package, while investors were largely unmoved by the last presidential debate.....»»

Category: newsSource:  philippinetimesRelated NewsOct 23rd, 2020

SMC Global hikes size of senior note issuance to $400m

SMC Global Power Holdings Corp., the power unit of San Miguel Corp., said Thursday it raised its senior capital securities issuance to $400 million from the previously approved $300 million amid higher demand from institutional investors......»»

Category: financeSource:  thestandardRelated NewsOct 23rd, 2020

PH not benefiting Taiwan’s southbound policy – Yujuico

The Philippine Chamber of Commerce and Industry (PCCI), the largest business organization in the country, has urged Taiwan to invest more in the Philippines, stressing the country has not benefitted from its “New Southbound Policy”. PCCI President Benedicto V. Yujuico raised this during a recent meeting with Taiwan Ambassador Michael Peiyung Hsu. Yujuico noted that only 3 percent of Taiwan’s outbound investments have been directed to the Philippines as Taiwanese investors prefer locating in Vietnam and Indonesia. Aside from investments, Yujuico also called Taiwan’s attention on the balance of trade between the two countries, which is heavily tilting in favor of Taiwan. As such, the PCCI leader has urged the ambassador to improve the balance of trade between the Philippines and Taiwan. In 2019, Philippines imports from Taiwan reached $4.7 billion while exports were valued at less than half of imports or $2.2 billion only.  Philippine exports to Taiwan consist mainly of semiconductor and electronic products, chemicals, machinery and transport equipment and other manufactures. He urged Taiwan to reconsider and allow the entry of Philippine fresh fruits, initially young coconuts and mangoes. “We had the good opportunity to talk to Ambassador Hsu where we elevated our concerns on the current ban of our fruit exports to Taiwan because of sanitary and phytosanitary standards,” Yujuico said. The Philippines exported young coconuts and mangoes to Taiwan 40 years ago.  These were banned after some time because of the kadang-kadang infestation on young coconuts and fruit flies on mangoes.  However, Roberto Amores, Director for Agriculture of PCCI said, “The necessary measures have been addressed by the Philippine government – kadang-kadang infestation is now confined in a few regions.  Young coconuts produced in kadang-kadang free regions are in fact now exported to Japan, South Korea and China, among others.” Earlier this year, the Taipei Economic and Cultural Office (TECO), citing information from Bureau of Animal and Plant Health Inspection and Quarantine (BAPHIQ) Council of Agriculture of Taiwan, wrote PCCI that the ban on Philippine young coconuts and fresh mangoes was apparently due to the failure of Philippine government to submit the pest risk analysis (PRA) results on these two commodities since 2010. The Department of Agriculture’s (DA) Bureau of Plant Industries (BPI) however claimed it had communicated through the Manila Economic and Cultural Office (MECO) the status of mangoes as an export commodity to Taiwan and requested for additional information for the PRA on coconut.   Yujuico and Amores said PCCI will continue to pursue this matter with the BPI and MECO to be more proactive in responding to the requirements of the BAPHIQ. Meanwhile, Yujuico welcomed the offer by the Taiwan government for modern technology exchanges for the agriculture sector and scholarship grants for undergraduate and graduate courses......»»

Category: lifestyleSource:  abscbnRelated NewsOct 18th, 2020

11 & lsquo;disgruntled& rsquo; Abu Sayyaf surrender in Jolo

Eleven “disgruntled” members of the Abu Sayyaf terror group in the southern provincial capital of Jolo have surrendered to authorities to avail themselves of the social integration benefits from the Armed Forces of the Philippines and Sulu’s local government, the military said Saturday......»»

Category: newsSource:  thestandardRelated NewsOct 17th, 2020

In Photos: Market fair for farmers in Cebu City mall

CEBU CITY, Philippines — The Cebu City Agriculture Department (CAD) is encouraging the public to visit “A Gardening and Fresh Local Produce Fair” in Robinsons Galleria and buy fresh goods from local farmers. In another partnership of the city government with the private sector, the fair was established to allow the farmers from the mountain […] The post In Photos: Market fair for farmers in Cebu City mall appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 17th, 2020

Catarman IATF places 23 barangays under ECQ

CATARMAN, Northern Samar, Oct. 15 (PIA) -- The Inter-Agency Task Force Against COVID-19 of the Local Government Unit of Catarman placed 23 out of 55 barangays of the capital town of the province un.....»»

Category: newsSource:  philippinetimesRelated NewsOct 15th, 2020

PH teachers start call center to help remote learners

MANILA — Worried that remote schooling could become a struggle, a local authority in the Philippines has set up a makeshift call center staffed by dozens of teachers to make sure students don’t fall behind in class. The temporary call center opened in the capital Manila on Monday staffed by 70 people who have been […] The post PH teachers start call center to help remote learners appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 11th, 2020

Stocks close lower over budget delay

The local stock market ended the week lower yesterday over concern that the passage of next year’s budget will be delayed.  The Philippine Stock Exchange index (PSEi) shed 11.05 points, or 0.19 points, to close at 5,931.61 with sectoral indices mixed.  Volume was lower at 9.16 billion shares worth P5.63 billion with gainers beating losers 119 to 76 with 43 unchanged.  “The local bourse declined due to worries over a possible delay in the passage of the national budget for 2021 which would serve as a risk against the local economic recovery,” said Philstocks Financial Senior Analyst Japhet Tantiangco.  Regina Capital Development Corporation Managing Director Luis Limlingan noted that, “Local shares retraced from earlier losses to close marginally lower after House Speaker Nancy Pelosi rejected the idea of a standalone bill to aid the airline industry, saying such a measure would need to be part of a broader fiscal stimulus package. President Trump doubled down on the Fiscal Stimulus and insisted now to have a larger than the proposed airline stimulus.”.....»»

Category: newsSource:  mb.com.phRelated NewsOct 9th, 2020

SEC approves local Del Monte’s P7.5-B bond offer

The Securities and Exchange Commission (SEC) has approved the public offering by Del Monte Philippines Inc. (DMPI) of fixed-rate bonds worth up to P7.5 billion. The Commission En Banc resolved to render effective the company’s registration statement for up to P5 billion worth of bonds, with an oversubscription option of up to P2.5 billion, subject to the company’s compliance with certain remaining requirements. DMPI will issue the bonds at face value, consisting of series A bonds due 2023 and series B bonds due 2025. They will be listed and traded on the Philippine Dealing & Exchange Corporation. The company expects to net P7.39 billion from the offer, assuming the oversubscription option is fully exercised. Proceeds from the offer will be used to repay the company’s existing debt, which are short-term and unsecured in nature. The fixed-rate bonds were assigned a PRS Aaa rating by the Philippine Rating Service Corporation. BDO Capital & Investment Corporation, China Bank Capital Corporation, First Metro Investment Corporation, and RCBC Capital Corporation were tapped as joint issue managers, joint lead underwriters, and joint bookrunners for the offer......»»

Category: newsSource:  mb.com.phRelated NewsOct 9th, 2020

Smart secures LGU permits for cell towers

PLDT Inc.’s wireless subsidiary Smart Communications Inc. has secured over 660 permits from various local government units around the country which will help accelerate its plan to build new towers to deliver better connectivity......»»

Category: financeSource:  philstarRelated NewsOct 2nd, 2020