Business

By Riza Lozada With more than 100 million payment cards issued in the Philippines, the biggest challenge to spur e-commerce remains the accessibility of terminals, according to a recent industry report. 

Sumitomo Mitsui Banking Corp. (SMBC) recently opened its local branch at the 21st Floor, Ayala Tower 1, Makati City. 

Washington—China’s slowdown, volatile financial markets and tumbling prices of raw materials have raised the risks to economic growth around the world, the International Monetary Fund (IMF) reported last Wednesday (last Thursday in Manila). 

Washington—US busi- nesses added jobs at a steady pace last month, with construction and manufacturing showing solid gains, a private survey found. 

The Philippine Stock Exchange’s (PSE) benchmark index (PSEi) continued its recovery after closing the week at 7,098.81, from the previous day’s 7,022.09 finish, marking the fourth straight day that the index closed higher following the sharp drop of the market on Monday, when the PSEi followed the global decline of market prices. 

About 3,000 students from public high schools in Metro Manila are now learning science, technology, engineering, and mathematics (Stem) with the help of brand new equipment received recently from the Caltex Fuel Your School (FYS) program of Chevron Philippines Inc. (CPI), marketer of high-quality brand of Caltex fuels and lubricants. 

By Jerry Maglunog A growing population, booming industries, mining potentials and tourism growth are just some of the reasons Maybank, Southeast Asia’s fourth biggest bank by assets, said the world is coming to Asia, specifically the Philippines. 

By Jerry Maglunog With the aim of servicing more Filipinos, the state-owned Land Bank of the Philippines (LandBank or LBP) has launched a massive expansion in the provinces to reach a bigger number of unbanked Filipinos. 

By Riza Lozada RCBC Bankard credit cards are now embedded with Europay, MasterCard and Visa (EMV)-chip technology to comply with the Bangko Sentral ng Pilipinas’s (BSP) Circular 808, issued in August 22, 2013, requiring all BSP-supervised institutions (BSIs) to shift from the traditional magnetic stripe to the more secure EMV-chip technology by the start of next year. 

Washington—The head of the New York Federal Reserve Bank (NY Fed) said he’s less inclined to support a Fed rate hike in September amid recent global turmoil, including falling oil prices and a slowdown in China.