Business

The Securities and Exchange Commission has approved effective December 28, 2022 the merger between AXA Philippines—one of the country’s leading insurance companies and a joint venture between the Metrobank Group, GT Capital, and the Paris-based AXA Group—and its former general insurance subsidiary Charter Ping An Insurance Corporation. The approved merger is the final step in the years-long process that began …

To ramp-up support for public utility vehicle (PUV) drivers amid rising fuel prices, the Land Bank of the Philippines (LANDBANK) and the Land Transportation Franchising and Regulatory Board (LTFRB) started distributing fuel subsidy worth P1,000 each to qualified tricycle drivers in the National Capital Region (NCR) and Regions I and III, on 10 January 2023. In partnership with the Department …

“Nadapa man noon, marunong na bumangon ngayon.” Allaiza Ondez, a Kabalikat sa Kabuhayan (KSK) Farmers’ Training  Program alumna, brings her learnings in every aspect of her life. In 2021, she was among the 4Ps members from Pasay City invited to join the KSK training from July to November 12. Their batch was given training on agri-technology, focusing on land preparation, …

As more Filipinos continue to make the shift to online banking and digital payments amid the post- pandemic era, cybercriminals are on the rise to take advantage of human and system vulnerabilities. According to Bangko Sentral ng Pilipinas’ (BSP) 2021 cyber threats surveillance, the top three types of cyber incidents reported by its supervised financial institutions (BSFIs) were: phishing, “card …

By Debbie P. Sy In 2022, we saw the much-awaited light at the end of the tunnel.  The Philippines has started lifting some restrictions as the vaccine rollout continues. Along came the privilege of people to once again freely move around the community–regardless of age and comorbidity. And with this, businesses, livelihoods, and other services are returning to their pre-COVID …

The journey to success always starts with a single step. This rings true for SM Scholar Roderick Cajefe. For only elementary school was open in his hometown, he would walk one-and-a-half hours to go to his high school and another hour and a half to reach home. Moving an inch closer to his dreams, his hard work paid off as …

Furthering financial inclusion in the country, RCBC trailblazes the digital transformation journey of tricycle drivers and market vendors during the Digital Financial Literacy Briefing led by the Bangko Sentral ng Pilipinas (BSP) held at Pepe Subdivision, Cabanatuan City. The financial literacy briefing showcases the features and benefits of using digital finance in their enterprises. Both drivers and vendors were immersed …

Preliminary data show that outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, grew by 13.7 percent year-on-year in November from 13.9 percent in October. On a month-on-month seasonally-adjusted basis, outstanding universal and commercial bank loans, net of RRPs, rose by  0.3 percent. Outstanding loans to residents, net of RRPs, went up …

Leading Philippine fiber internet provider Converge Information and Communications Technology Solutions, Inc. (PSE: CNVRG) has received the greenlight to provide international connectivity services in Singapore through its wholly-owned subsidiary, Converge ICT Singapore Pte. Ltd. (Converge SG), to further strengthen its fast-growing international wholesale business. In its grant letter, the Infocomm Media Development Authority (IMDA), a statutory board under the Singapore …

The BSP is closely coordinating with BPI in relation to the double debit transaction incident affecting BPI accountholders. The Bank already identified the root cause of the operational error and committed to reverse the erroneous transactions and restore mobile and internet banking services the soonest possible. The BSP has instructed BPI to submit a timeline and updates on the reversal …