Business

By Jerry Maglunog To avoid inconvenience because automated teller machines (ATMs) are limited in some areas in the country, an increasing number of executives are turning to their smartphones to do mobile banking.

Tokyo—Standard & Poor’s lowered Japan’s sovereign credit rating and said it doesn’t expect Prime Minister Shinzo Abe’s economic revival strategy to reverse deteriorating government finances within the next three years.

Washington—The Food and Drug Administration (FDA) banned sales of four cigarette brands from R.J. Reynolds because they did not meet the agency’s safety review requirements.

Publicly listed 8990 Holdings Inc. spearheaded the forming of a research center aimed at gathering data on the industry to help the government and the private sector ease the problem of lack of shelter in the country. 

Broadcasting giant ABS-CBN said several online sites illegally providing ABS-CBN TV shows and movies have been barred after it received several preliminary injunctions in the US Federal District Court against 44 sites. 

By Jerry Maglunog Small and medium enterprises (SMEs) are the main cogs of the economy, as 94 percent of local firms are classified under this category. 

By Riza Lozada European trade experts will visit the country to present investment options and business conditions in three rising Association of Southeast Asian Nations (Asean) members, the European Chamber of Commerce of the Philippines (ECCP) said. 

The World Bank (WB) is working with the government to develop an insurance and risk-transfer mechanism for national and local governments, businesses and even individual households to help them deal with natural disasters. 

By Jerry Maglunog Banks are also making a killing out of lending, aside from the conventional route of bank loans through tie-ups with credit-card companies. 

Beijing—China plans to allow foreign central banks into its interbank currency market, the country’s No. 2 leader said, in a new move to expand use of the tightly controlled Chinese yuan.