The Bangko Sentral ng Pilipinas (BSP) reported a significant increase in the preference for digital payments in the country, based on the 2021 Financial Inclusion Survey. Tricia Defante-Andres, Deputy Director of the BSP’s Payments Policy and Development Department, highlighted how digital payment platforms, such as e-wallets, have expanded access to financial services for Filipinos. “It’s very encouraging that, as of …

The Philippine Amusement and Gaming Corporation (PAGCOR) announced recently that the local gaming industry’s Gross Gaming Revenues (GGR) grew 37.52% in the third quarter to P94.61 billion from P68.79 billion GGR year-on-year. The industry’s third-quarter growth was driven mainly by the Electronic Gaming sector which increased more than five-fold, generating P35.71 billion in revenues from last year’s P6.32 billion. “The …

Fiber broadband provider Converge ICT Solutions, Inc. (Converge) announced a robust performance for the first nine months of 2024, with consolidated revenues rising by 14 percent to P29.9 billion and net income surging by 29 percent year-on-year to P8.2 billion. Converge CEO Dennis Anthony Uy attributed the growth to strong performance across its residential, enterprise, and wholesale segments. “Our initiatives …

The World Bank has approved a $750 million development policy loan to accelerate digital transformation in the Philippines, aiming to enhance connectivity, competitiveness, and financial inclusion. In a statement released Wednesday, the World Bank said the Second Digital Transformation Development Policy Loan is designed to reduce barriers to entry and investment in the broadband sector, fostering competition and improving internet …

The Philippines is the only country within the Association of Southeast Asian Nations (ASEAN) showing an improving trend in credit growth, according to a report by Bank of America (BofA) Global Research. BofA noted that the Philippines is the only ASEAN nation exhibiting an upward shift, with credit growth accelerating to 9-10%. The most recent data indicates a slight improvement …

State-run Land Bank of the Philippines is extending PHP14 million in financial assistance to local government units (LGUs) affected by Severe Tropical Storm Kristine (international name Trami).  In a statement on Wednesday, LandBank said the cash donation would support the recovery efforts of 130 LGUs in Luzon and the Visayas. The amount is on top of the PHP1.1 billion assistance …

The total assets of the Philippine banking sector increased by 11.3% as of the end of September, reaching P26.73 trillion, up from P24 trillion during the same period last year, according to data from the Bangko Sentral ng Pilipinas (BSP). This growth also surpassed the P25.9 trillion in assets recorded in August 2024. Michael Ricafort, an analyst at Rizal Commercial …

Victoria International Container Terminal, a fully automated container terminal and International Container Terminal Services, Inc.’s (ICTSI) operation in the Port of Melbourne, Australia, has been officially approved to perform 14.4 Rural Tailgate Inspections, reinforcing its commitment to streamlining biosecurity compliance for containers bound for rural areas across the State of Victoria. The approval follows the recent policy extension by the …

By: Eunice Jean Patron The University of the Philippines – Diliman College of Science (UPD-CS) recently organized a campaign focused on Genetic Modification (GM) and Gene Editing (GE) research in the country, as well as on the challenges faced by its researchers. Titled “#GeneTalks,” the two-part, multi-stakeholder awareness campaign, spearheaded by the UPD-CS Office of the Associate Dean for Research, …

Manila Water posted ₱10.1 billion in net income for the first nine months of 2024, growing by 39% from the same period last year. Tariff adjustments for its East Zone Concession and several of its Non-East Zone Philippines (NEZ PH) businesses continued to provide strong topline support to the robust growth in customer demand. On a consolidated level, revenues grew …