Business

Fiber broadband and technology provider Converge has partnered with Starlink and Ribbon Communications, Inc. to expand connectivity and enhance network capabilities. “Many enterprises suffer from connectivity (challenges),” said Converge Singapore Managing Director Sherie Ng during the announcement in Taguig City last week. Converge CEO Dennis Uy said the partnerships aim to empower people, extend services to more areas, and support …

With the April 15 deadline for annual income tax returns (ITRs) fast approaching, Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. is urging self-employed individuals and online sellers to fulfill their tax obligations. In a Facebook video message delivered in Filipino, Lumagui emphasized that those engaged in online selling and sole proprietorship businesses—where the business is registered under an …

The Bangko Sentral ng Pilipinas (BSP) has adjusted its balance of payments (BOP) forecast for 2025, citing global economic uncertainties that could impact the country’s external position.  The BOP, which summarizes a nation’s transactions with the rest of the world, is now expected to register a USD4 billion deficit this year, a sharp reversal from the earlier projected USD2.1 billion …

The Bangko Sentral ng Pilipinas (BSP) and the Commission on Elections (Comelec) have signed an agreement for the safekeeping of the Final Trusted Build Source Codes for the May 12 national and local elections, in compliance with the Automated Elections System Act.  The signing and deposit in escrow took place at the BSP Head Office in Manila, led by Comelec …

The Philippine Deposit Insurance Corporation (PDIC) will auction 54 assets from closed banks through an electronic public bidding on April 24.  These properties, located in Aklan, Bukidnon, Camarines Sur, Isabela, Palawan, and Quirino, include vacant agricultural and residential lots, as well as improved residential and agricultural properties, ranging from 71 to 239,343 square meters. Electronic bids will be accepted via …

State-run Land Bank of the Philippines has launched OptiSaver Plus, an upgraded savings product designed to help Filipinos grow their funds while enjoying free insurance coverage for added financial security. With a tiered interest rate of up to 4% per annum, OptiSaver Plus also provides free life or personal accident insurance based on a depositor’s Average Daily Balance (ADB).  A …

The Bangko Sentral ng Pilipinas (BSP) has collected P1.372 billion worth of coins through its coin deposit machines (CoDMs) as of March 17, translating to 339.84 million coins from 311,858 transactions. Launched in June 2023, the CoDM initiative enables users to deposit coins conveniently, with the amount credited to their GCash or Maya e-wallets or converted into shopping vouchers.  The …

BDO Unibank Inc. (BDO) is reaffirming its commitment to national progress by financing key infrastructure projects, including the modernization of the Ninoy Aquino International Airport (NAIA).  Through its Institutional Banking Group and BDO Capital & Investment Corporation, BDO helped secure P80 billion (US$1.42 billion) in funding for New NAIA Infrastructure Corporation (NNIC), the consortium awarded the concession to rehabilitate and …

The government is accelerating efforts to generate non-tax revenues by expediting the privatization of non-performing assets, according to the Department of Finance (DOF). To streamline and speed up the process, the DOF has issued revised guidelines aimed at boosting revenue while creating investment opportunities for Filipinos. “Privatization of non-performing assets is among the strategic moves to raise much-needed revenues to …

Inflation is expected to slow further to 1.9% in March, driven by improved weather conditions that boosted agricultural production, according to an economist. Rizal Commercial Banking Corporation chief economist Michael Ricafort said in a Viber message that inflation is projected to ease from 2.1% in February, falling below the Bangko Sentral ng Pilipinas’ (BSP) target range of 2-4%. “Better weather …