Banking & Finance

F resh business graduates should become “servant-leaders” by helping impoverished communities develop micro and small enterprises that will serve as catalysts for growth and save society’s marginalized sectors from the poverty trap, Finance Secretary Carlos Dominguez III said.

By Riza Lozada The Department of Science and Technology (DOST) has launched a lending program to assist Filipino inventors called the “Innovation and Technology Lending Program” or “I-TECH”.

The Department of Trade and Industry (DTI) and the Association of Southeast Asian Nations (Asean) Japan Center (AJC) co-sponsored a seminar entitled “Changing Trade and Investment Landscape in ASEAN and the Philippines” to highlight the importance of global value chains and non-equity mode (NEM) in the growth of Philippine exports.

By Riza Lozada The Philippine Payments Management, Inc. (PPMI), which was established to facilitate electronic payments, will assist the Bangko Sentral ng Pilipinas (BSP) in implementing initiatives for the National Retail Payment System (NRPS).

By Riza Lozada The government plans to issue its first renminbi-denominated debt instruments or so-called Panda bonds this year while discounting any plan to issue other debt instruments overseas, National Treasurer Rosalia de Leon said.

The policy-making Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has banned Cabanatuan City Rural Bank Inc. from doing business in the country.

International credit card issuer Visa launched recently its financial literacy program Lukot-lukot, Bilog-bilog (Crumpled, Rounded), a theatrical play targeted to teach students the importance of informed financial decisions.

The 50th Credit Surety Fund (CSF) Program was launched last Oct. 2 in Cauayan City, Isabela to mark a new milestone for the program.

By Riza Lozada Collections of the state’s main revenue agencies have started to pick up with “promising growth figures” of 8.8 percent in the first half from a year ago, Finance Secretary Carlos Dominguez III said.

The government’s budget posted a P28.8-billion surplus last August as revenue collections outstrip expenditures for the month.