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Banking & Finance

Robinsons Bank, Pru Life ink strategic partnership

By Riza Lozada Gokongwei group-led Robinsons Bank and British life insurer Pru Life UK recently entered a strategic bancassurance partnership in a distribution agreement signing held at Crowne Plaza Galleria Manila.

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Saving money means rewarding OFW kin

Saving habits mean a lot to relatives working abroad.

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SSS sees huge payoff in Megawide infra tieup

State pension fund Social Security System (SSS) expects investment income to reach P60 billion within three years, or double the P30 billion last year, following its participation in infrastructure projects through the purchase of a minority stake in diversified and infrastructure conglomerate Megawide Construction Corp.During the commemoration rites for the share sale Friday, SSS said it acquired 5.17-percent stake in …

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BIR vows faster steps for MSMEs’ licenses

By Riza Lozada The Bureau of Internal Revenue (BIR) will speed up the streamlining of processes for the documentary requirements of micro, small and medium-scale enterprises (MSMEs) renewing business permits following the congressional approval and implementation of the first package of the tax reform law.

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PDIC realizes P34.5M from Visayas assets sale

Regulator Philippine Deposit Insurance Corp (PDIC) earned P34.5 million from the sale of 18 corporate and closed banks’ properties during a recent public bidding at the Bangko Sentral ng Pilipinas (BSP) – Cebu Regional Office.

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BSP chief: OFW Bank starts operations February

The operations of the Overseas Filipino Bank (OFB) which will target some 10 million Filipinos working overseas will likely start in February after policy-making Monetary Board (MB) approved the Land Bank of the Philippines’ (Landbank) recent acquisition of the thrift bank.

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DBP eyes 1M depositors within 5 years—Borromeo

State-owned Development Bank of the Philippines (DBP) seeks to expand its presence in the retail banking segment by targeting one million new depositors in the next five years, DBP President and Chief Executive Officer Cecilia Borromeo said.

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BSP confident inflation to remain within goal

The Bangko Sentral ng Pilipinas (BSP) is confident of within-target inflation in the near term after the December 2017 inflation was steady at 3.3 percent, bringing the average rate this year to 3.2 percent.

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Less financial stress in Asia, says Moody’s

Credit watchdog Moody’s Investors Service said the Asian Liquidity Stress Indicator (Asian LSI), which measures the strength of financial system in the region, decreased in November 2017 to 26.4 percent from 27.6 percent in October.

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PLDT group moves to spur financial inclusion

Telecom giant Philippine Long Distance Telephone Co. (PLDT) financial technology unit FINTQ and affiliate Smart’s Voyager Innovations are targeting to include 30 million Filipinos into the financial system by 2020 through a project in collaboration with the Liga ng mga Barangay (Liga), the association of local government units with the largest membership representing barangays nationwide.

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