Business

By Jerry Maglunog Pawnshops are vital businesses. They help people who run out of cash to get instant money for a modest interest of 3 percent to 4 percent a month. In the Philippines, there are several big-name pawnshops that have become part of people’s lives, especially those who need instant cash.

Ayala Land Inc. (ALI) and the Pison family of Iloilo province have partnered in the development of Atria Park District.

By Riza Lozada SM Foundation Inc. (SMFI) will sponsor 275 students from public schools nationwide  under its college scholarship program for this year.

Chevron Philippines Inc. (Chevron) will help 33 public schools in Metro Manila upgrade their science and technology (S&T) capabilities through a donation of P150,000 for each school through the Caltex Fuel Your School (FYS) program.

Ayala-led Globe Telecom has been cited in American online news site Huffington Post as a Philippine mobile brand that has helped position the country as the “Digital Lifestyle Capital of the World.”

By Jerry Maglunog When the Bangko Sentral ng Pilipinas (BSP) raised the minimum paid-up capital for rural banks (RB), it sent an underlying message for small struggling banks to merge for survival. Under the new memorandum, anyone who wants to put up an RB needs at least P10 million, if it is located in a fifth-class municipality.

More Americans bought new homes in April—evidence that the stronger job market is powering the housing sector. The United States Commerce Department said last Tuesday new-home sales climbed 6.8 percent last month to a seasonally adjusted annual rate of 517,000. Sales recovered from a 10 percent dip in March to an annual pace of 484,000.

Greece is proposing to legalize tax-dodgers’ undeclared money for a fee, a way to raise money as the country tries to reach a deal with creditors to get more bailout money and avoid default.

By Riza Lozada The government has agreed in principle to back the relaxation of the negative list for contractors to allow foreign-controlled firms to enter the booming construction activities in the country.

By Jerry Maglunog “The world is coming to Asia.” These were the words of London City lord mayor Alderman Alan Yarrow when he visited the Philippines in February this year.