Business

The Land Bank of the Philippines (LANDBANK) announced that all new customers applying for a LANDBANK deposit account shall be provided a cardless account, effective 04 October 2022.  New account holders will be enrolled in the LANDBANK iAccess and Mobile Banking App (MBA), and will benefit from having convenient access to digital banking services, including inter-bank transactions via InstaPay and …

BAYBAY, Leyte –The families of close to 200 individuals who either perished or disappeared following a landslide in a village here in April received financial assistance from the Philippine Amusement and Gaming Corporation (PAGCOR). The distribution of cash aid was held at the city’s gymnasium from October 11 to 13, 2022. PAGCOR released P5.5 million or P30,000 to each fatality …

Manila Water remains committed to maintain its non-revenue water (NRW) after reporting an average NRW level of 12%, as of September 2022. This level of NRW is unprecedented in the history of the Philippine water sector and is among the lowest in the whole of Asia. The standard NRW rate, as recommended by World Bank, is 25% or lower. From …

The CMA CGM Group continues to deploy the largest vessel, in capacity, at the Port of Melbourne (PoMC) breaking their own record previously held by the CMA CGM Ural at 10,622 TEU operated by ANL on the Australia Asia Express 2 (AAX2) service.  Like the CMA CGM Ural, the CMA CGM Estelle berthed at Victoria International Container Terminal (VICT) in …

In partnership with the Department of Agriculture (DA), the Land Bank of the Philippines (LANDBANK) continues to ramp up the distribution of cash grants to farmer-beneficiaries under the Rice Competitiveness Enhancement Fund – Rice Farmers Financial Assistance (RCEF-RFFA) Program.  As of 30 September 2022, LANDBANK has produced Intervention Monitoring Cards (IMCs) for 54,188 beneficiaries nationwide, of which 26,523 hail from …

The Regional Trial Court (RTC) of Cabugao, Ilocos Sur (Branch 24) convicted former officers of the now closed Rural Bank of Magsingal, Inc. (RB Magsingal) for violation of Republic Act (RA) No. 8791 (The General Banking Law of 2000), in relation to RA No. 7653, as amended (The New Central Bank Act), and the Manual of Regulations for Banks (MORB) issued by the Bangko Sentral ng Pilipinas (BSP). RTC …

With the perennial rise of the Marikina River, especially during typhoon season, which often causes it to breach its banks, Manila Water continues to improve the flood resiliency of its facilities built near the river to ensure that flooding would not disrupt nor endanger the operations of the facilities, particularly the Olandes Sewage Treatment Plant (STP) and Marikina North STP. …

SM Foundation, Inc. the social good arm of the SM group, and the Fast Retailing Foundation (FR Foundation), a general incorporated foundation in Japan, formally launched the ‘Grow Trees Community’ project in Nasugbu, Batangas last September 27 as the first stop of three provinces for their ‘treescaping’ and reforestation initiative. The Grow Trees Community project aims to plant and grow …

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla  (above) said banking regulations are accompanied by initiatives that  support the country’s shift from a cash-heavy to a cash-lite economy. During  a recent conference by “The Asian Banker,” the Governor explained that the  BSP is pursuing these initiatives under its Digital Payments Transformation  Roadmap. The Roadmap aims to digitalize at least …

Philippine President Ferdinand R. Marcos Jr. graced the 19th edition of the China-ASEAN Expo  (CAEXPO) through a pre-recorded video message during its opening ceremony. With a strong  invitation to welcome new opportunities to the country, the president highlighted that the  Philippines is “very much open for business.”  CAEXPO is an annual international event held since 2004 with the aim of …