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Banking & Finance

Customs, municipal treasurers get ax from DOF

Finance Secretary Carlos Dominguez, acting on separate rulings of the Office of the Om­budsman, had dismissed a Bu­reau of Customs (BOC) officer and two municipal treasurers.

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BDO insurance unit’s profit grows 24% for this year

Banco de Oro’s insurance arm BDO Life Assurance Co. Inc. (BDO Life) capped the third quarter of 2016 with P6.3 billion in total premium income, representing a 24 percent growth from a year ago.

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P4.8T eyed as bufferfor storm-prone nations

The Philippines, which is considered among the vulnerable coun­tries for rapid shift climate due to global warm­ing, can tap into $100 billion or P4.8 trillion a year in fund­ing for climate action proj­ects that multilateral funding agencies seek to put up under the United Nations’ Green Climate Fund (UNGCF).

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Filipino, Pakistani execs seek broader trade ties

Executives of the Philippines and Pakistan seek to broaden and diversify economic ties of both countries through enhanced co­operation in the fields of agricul­ture, defense, information tech­nology (IT) and pharmaceuticals.

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UnionBank taps Voyager scheme for workers’ perks

UnionBank of the Philippines (UnionBank) has tapped infor­mation technology firm Voyager Innovations’ Takatack Rewards digital incentive system for the bank’s employees, in line with its efforts for digital transformation.

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Online threats stronger after $81-M cybertheft

Online security threats in the aftermath of the high-profile cybertheft of $81 million from the Bangladesh Bank have been rising in the Asia-Pacific region, cybersecurity firm Fortinet has said.

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HSBC forecasts P465B in 2017 local borrowings

The government is expected to issue more bonds next year that will reach about P465 billion to address increased funding needs in line with the programmed hike in infrastructure spending, banking giant Hongkong and Shanghai Banking Corp. (HSBC) said in a report.

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M3 rose 12.8% to P8.9T in October

By Riza Lozada Money supply (M3) has risen 12.8 percent from a year ago in October to P8.9 trillion from a growth of 12.7 in the previous month in line with the sustained growth of the economy despite a slight decline in bank lending.

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PayMaya, Mastercard unite for financial inclusion scheme

PayMaya Philippines, formerly Smart eMoney Inc, a pioneer in financial technology services, and its long-standing partner, leading global payments company Mastercard, have renewed agreement to continue the use of PayMaya mobile payment gateway solutions by Mastercard in the global market.

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Spanish trade mission backs growth agenda

A top-level Spanish delegation which visited Davao City last week has expressed Spain’s support for President Duterte’s 10-point socioeconomic agenda and lauded his ongoing peace initiatives with insurgent groups as well as his strong campaign against illegal drugs.

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