Banking & Finance

By Riza Lozada Former Sen. Alberto Romu­lo assumed the post as new chairman of the board of the Development Bank of the Phil­ippines (DBP) after Finance Secretary Carlos Dominguez III swore him into office last week.

By Riza Lozada  Domestic liquidity or M3 reported a slower growth of 12.4 percent in January from the revised 12.7 percent increase last December, data released by the Bangko Sentral ng Pilipinas (BSP) showed. 

Globe Telecom has built up a P14 billion warchest to beef up its effort to speed up and widen its Internet business after acquiring bandwidth assets of San Miguel Corp. in the costly P70 billion purchase deal in a team up with Philippine Long Distance Telephone Co. (PLDT). 

Light Rail Manila Corp (LRMC), the operator of Light Rail Transit Line 1 (LRT-1), received the award for Best Project Finance Deal of 2016 in the 10th Annual Alpha Southeast Asia Best Deal and Solution Awards held in Malaysia recently. 

State-run pension fund Social Security System (SSS) reported its revenues jumped 8.34 percent to P160 billion as of the end of November last year. 

A systematic process of identifying the next Bangko Sentral ng Pilipinas (BSP) governor should be done to ensure that only a qualified individual would get the position, Finance Secretary Carlos Dominguez III said. 

More than 400 dignitaries, including President Duterte, celebrated last Feb. 21 the 50th anniversary of the Asian Development Bank (ADB) headquarters in Manila. 

Philippines (HCPH), a unit of a Prague-based company offering in-store financing for purchasing appliances and gadgets, plans to expand its nationwide footprint and product offerings to increase its customer base to one million milestone by the end of 2017. 

By Riza Lozada  Dollar transfers from overseas Filipino workers exceeded the government’s 2016 growth target after it jumped five percent to $26.9 billion from $25.61 billion a year ago, Bangko Sentral ng Pilipinas (BSP) data showed. 

State bank regulator Philippine Deposit Insurance Corp. (PDIC) announced the appointment of banker Anita Linda Aquino as a member of the PDIC board.