The World Bank (WB) is working with the government to develop an insurance and risk-transfer mechanism for national and local governments, businesses and even individual households to help them deal with natural disasters. 

By Jerry Maglunog Banks are also making a killing out of lending, aside from the conventional route of bank loans through tie-ups with credit-card companies. 

Beijing—China plans to allow foreign central banks into its interbank currency market, the country’s No. 2 leader said, in a new move to expand use of the tightly controlled Chinese yuan. 

Hong Kong—Moody’s Investors Service is challenging a $3 million fine by Hong Kong’s securities regulator, which accuses the credit rating agency of misconduct over a 2011 report that flagged potential problems at Chinese companies. 

Riyadh, Saudi Arabia —A towering construction crane toppled over during a violent rainstorm in the Saudi city of Mecca, Islam’s holiest site, crashing into the Grand Mosque and killing at least 107 people ahead of the start of the annual hajj pilgrimage later this month. Images posted by social-media users showed a grisly scene, with police and onlookers attending to …

Washington—Former United States Secretary of State Hillary Rodham Clinton had the right to delete personal e-mails from her private server, the US Justice Department has told a federal court. 

The Philippine Stock Exchange Inc. (PSE) said it has strengthened its technology systems and business continuity processes to prevent a repeat of the glitch that resulted in the disruption of trade on two consecutive days. 

The Manila International Container Terminal (MICT) in the Port of Manila has started implementing a vehicle appointment system called Terminal Appointment Booking System (TABS) for selected user groups. 

By Lito U. Gagni  Shandong, China—Liwayway China Co. Ltd , part of the Oishi business empire, has invested $20 million in a new factory here in a bold marketing move that has characterized the company’s presence in China where it has flourished, earning the coveted Shanghai and China Famous brands. 

By Jerry Maglunog Online business caters mostly to people who are very busy or live too far from the city proper. It is in these scenarios that the likes of Lazada, Zalora, Carmudi, OLX or Autopinoy.com have become a household name.