Business

New generation cur­rency (NGC) bank notes that have the signature of Presi­dent Duterte will start circulat­ing this week.

By Riza Lozada The Bangko Sentral ng Pili­pinas (BSP) recently revised foreign exchange regulations amid the entry of more foreign banks in the country includ­ing a requirement that foreign currency capital of a foreign bank’s branch be converted to pesos at the prevailing ex­change rate at the time of the remittance.

Finance Secretary Carlos Dominguez, acting on separate rulings of the Office of the Om­budsman, had dismissed a Bu­reau of Customs (BOC) officer and two municipal treasurers.

Banco de Oro’s insurance arm BDO Life Assurance Co. Inc. (BDO Life) capped the third quarter of 2016 with P6.3 billion in total premium income, representing a 24 percent growth from a year ago.

Convenience store chain Family Mart is now accepting loading and pay­ments through beep card, the same tap-and-go card you use for your train and bus rides.

By Riza Lozada The Philippine Stock Exchange Inc. (PSE) has released the rules for Dollar De­nominated Securities (DDS) that provides the framework and guidelines for the listing, trading and clearing and set­tlement of dollar-denominated shares.

First Metro Philippine Exchange Trade Fund Inc. (FMETF) will re­lease an additional P1 billion in Exchange-Traded-Fund (ETF), company executives said.

SM Investments Corp. (SMIC) will exercise its option for the purchase of P5 billion oversubcription on its issuance of the Se­ries G Bond that will bring to P20 billion the bonds it recently issued.

Manila Water Philippine Ven­tures Inc. (MWPV) and SM Prime Holdings Inc. entered into a memorandum of agreement (MOA) for water delivery services and facilities.

The Philippines, which is considered among the vulnerable coun­tries for rapid shift climate due to global warm­ing, can tap into $100 billion or P4.8 trillion a year in fund­ing for climate action proj­ects that multilateral funding agencies seek to put up under the United Nations’ Green Climate Fund (UNGCF).