Declare bets’ bank accounts

Now, here’s a good suggestion. Presidential aspirant Gilberto “Gibo” Teodoro Jr. wanted bets bank accounts bared.
The Lakas-Kampi-CMD standard-bearer said that the bank secrecy law should be lifted or at least be reviewed to help unmask the financial activities of politicians who are suspected to have links to the illegal drug trade.
Gibo was reacting to the [...]

March 6, 2010  Tags: , , , , ,   Posted in: Announcement, Government, Law, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money  No Comments

Five banks signed trade finance agreement with ADB

The Asian Development Bank is making funds available to Philippine traders via its $1-billion regional facility. To help traders get access to this fund, the ADB signed a trade finance agreement with five banks – Development Bank of the Philippines, Metropolitan Bank and Trust Co., Philippine National Bank, Rizal Commercial Banking Corp. and Allied Banking [...]

February 23, 2010  Tags: , , , , , ,   Posted in: Announcement, Corporations, Loans, Opportunities, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money  No Comments

Peso closed at 15-month high – 46 to $1

Peso closed at its highest for the last 15 months. Last Fridays dealing ended with the Philippine peso at a level of P46 to $1, in a 15-month record high attributed specifically to the influx of remittances for overseas Filipino workers.
Not surprisingly, because of the holiday season, we can expect more Filipinos overseas to send [...]

December 4, 2009  Tags: , , , , ,   Posted in: Foreign exchange, OFWs, Philippines, Pricing, banking, economy, finance, money  No Comments

Globe gives OFW families cheaper means to communicate

Now, families who have love ones working overseas can now call reach to them in a more affordable rate. That is because Globe Telecom brings down international call and text rates.
The lower rates from Globe is the companies commitment to help local residents get more chance to spend more talk time with their families and [...]

November 28, 2009  Tags: , , , , , ,   Posted in: Announcement, Consumers, Corporations, Customer Service, OFWs, Philippine business news, communications, money, promotions  One Comment

iRemit to provide remittance services to OFWs in Europe

The largest Filipino-owned non-bank remittance company has further widen its customer base of overseas Filipino workers (OFWs).
iRemit was able to secure license to do business in Europe.
The remittance company stated in its disclosure to the Philippine Stock Exchange advising them of the registration of iRemit Europe in the general list of financial intermediaries as a [...]

November 26, 2009  Tags: , , , , , , ,   Posted in: Announcement, Consumers, Corporations, Customer Service, OFWs, Philippine business news, Philippines, e-commerce, economy, finance, money  No Comments

Republic Act 9505 or the PERA Act of 2008

A new law that hopes to encourage Filipinos to invest more of their savings in high yield products has been signed recently. The PERA Law or Personal Equity and Retirement Account will be implemented by the Bangko Sentral ng Pilipinas (BSP) next year.
BSP Governor Amando M. Tetangco Jr., one of the signatories of the implementing [...]

October 22, 2009  Tags: , , , , , , , , , , ,   Posted in: Announcement, Government, Philippine business news, Philippines, banking, finance, investments, money  No Comments

Lower housing loan rates from SSS

To help Filipinos whose homes were damaged by the recent onslaught of tropical storm Ondoy last , SSS reduced loan rates for home repairs and improvements.
The reduced rates for SSS is now at 9%, from a previous 13% per annum. The maximum amount of loan that can be availed is P300,000 and payable up to [...]

October 2, 2009  Tags: , , , , , , ,   Posted in: Announcement, Consumers, Government, Housing, Philippine business news, Philippines, economy, finance, money  No Comments

Abaca fiber to stay on Philippine bills

Abaca farmers can now rest easy, as the Bangko Sentral ng Pilipinas has decided to keep using abaca fiber on Philippine  notes. BSP said abaca fiber will stay as its Numismatic Committed decided to support the domestic abaca industry and dropped the plan to print new bank notes in polymer material.
Armando Suratos, Deputy Governor of [...]

September 20, 2009  Tags: , , , ,   Posted in: Announcement, Government, Philippine business news, Philippines, economy, finance, money  No Comments

Chinatrust plans opening new branch in Cagayan de Oro City

Chinatrust Commercial Bank Corp. in the Philippines is a subsidiary of the Chinatrust Commercial Bank Corp. in Taiwan, which is the largest and most awarded private commercial bank in Taiwan and was included in the top 200 biggest banks in terms of capital.
With 23 branches in the Philippines at present, Chinatrust plans to open a [...]

September 20, 2009  Tags: , , , , , , , ,   Posted in: Announcement, Corporations, Philippine banks, Philippine business news, Philippines, banking, economy, finance, money  4 Comments

An IPO from San Miguel in the next three years

Here’s a good investment opportunity for those who want to try the stock market. The San Miguel Energy Corp. (SMEC), the energy investment arm of food and beverage giant of San Miguel Corp. will be conducting an initial public offering (IPO) within the next three years.
The IPO plan of San Miguel, according to SMC president [...]

September 3, 2009  Tags: , , , , , , , , , , , ,   Posted in: Announcement, IPO, Philippine business news, Philippines, Stock Market, finance, investments, money  No Comments