Business

The Philippine Red Cross (PRC) presented the Okada Foundation, Inc. (OFI)  with the “The Most Outstanding Humanitarian” Award for its efforts in supporting the country’s COVID-19 pandemic response .  The award cited OFI’s “unwavering support to communities affected by the pandemic”, and added that the foundation’s selfless contributions were instrumental in strengthening public health response, and a key enabler in …

State pension fund Government Service Insurance System (GSIS) announced that the GSIS is allocating more than P4.3 billion in emergency loan for members and pensioners in 17 areas in the country who were affected by El Niño. A total of 185,107 active members as well as old-age and disability pensioners in Negros Oriental and Kabangkalan City and Valladolid in Negros …

As the Philippines continues its trajectory towards economic recovery, BDO Unibank, Inc. plays a pivotal role in helping fuel national development by offering crucial support to companies amid changing market conditions. BDO recognizes the expanding opportunities in utilities and infrastructure, logistics, tourism, construction, manufacturing, and professional services. These industries, marked by an upswing in activity, showcase prospects for both investors and financiers …

Bank lending of universal and commercial banks (U/KBs) grew at a faster pace in April this year while domestic liquidity growth slowed, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data released by the BSP on Friday showed that banks’ outstanding loans, excluding those placed in the central bank’s reverse repurchase facility, grew by 9.6 percent in April …

On June 1, 2024, the Maritime Industry Authority (MARINA) celebrated its 50th anniversary, marking half a century of dedicated service and significant contributions to the Philippine maritime industry. Established to oversee and develop the country›s maritime sector, MARINA has played a pivotal role in shaping the maritime policies and practices that have fostered growth, safety, and innovation in the industry. …

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said recently the development and the deepening of the Philippine capital markets are vital to the economy. “Hand in hand with the government, we are pushing on multiple fronts to deepen our capital markets. Such deepened markets will enhance our transmission mechanisms for monetary policy and make our financial system …

Land Bank of the Philippines (LANDBANK) has been tapped by the Department of Social Welfare and Development (DSWD) for the efficient and timely delivery of financial relief to crisis-affected individuals, including those in remote and underserved communities. Under DSWD’s Assistance to Individuals in Crisis Situation (AICS) Program, LANDBANK will serve as the Department’s disbursement partner and will engage financial service …

State-owned Development Bank of the Philippines (DBP) has granted a P4-billion credit assistance to the city government of Cabuyao to finance key public infrastructure projects in the first-class component city of Laguna, a top official said. DBP President and Chief Executive Officer Michael O. de Jesus said the loan was approved under the Bank’s Assistance for Economic and Social Development …

Alternergy Holdings Corp. secured another local to finance the construction of its renewable energy projects, which are aligned with the government’s goals of increasing green energy supply in the country. The company obtained a P2-billion green corporate loan from BDO Unibank Inc., with BDCO Capital & Investment Corp. as the mandated lead arranger for the transaction. Prior to the said …

The growing reach of SM malls nationwide provides a venue for growth for many small and medium enterprises and communities. The opening of SM City Caloocan, SM’s 86th mall, will better connect surrounding urban and rural communities, sharing borders with Quezon City, Valenzuela, and the cities of Marilao, Meycauayan, and San Jose Del Monte in Bulacan. “SM malls are venues …