The Government Service Insurance System (GSIS) earmarked a total of Php66.36 million in emergency loans for active members and old-age pensioners in the municipalities of Kalilangan in Bukidnon, who were hit by a magnitude 6 earthquake, and those in Carmen and Compostela in Cebu, who were affected by Tropical Depression Crising.
Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco, Jr. said the Philippines will be reaching out to the Monetary Authority of Singapore (MAS) in order to achieve greater financial integration and economic development among members of the Association of Southeast Asian Nations (ASEAN).
The Philippines has already entered into agreements with three countries, namely, Malaysia, Thailand and Indonesia on the ASEAN Banking Integration Framework (ABIF) which allows qualified Asean banks or QAB’s to enter each other’s respective areas of jurisdiction.
The Regional Trial Court (RTC) Br. 3 of Baguio City denied the Temporary Restraining Order (TRO) filed against the Credit Information Corporation (CIC) by the Northern Luzon Federation of Cooperatives and Development Center (NORLU CEDEC), a cooperative federation in Baguio City. Under Republic Act No.
BUSINESSWORLD reported on the Department of Agriculture (DA), the Department of Trade and Industry (DTI) and the Philippine Chamber of Commerce and Industry recently signing a memorandum of agreement to support the market activities of the DA’s Agribusiness Support for the Promotion and Investment in Regional Expo, or ASPIRE project.
Under the ASPIRE project, farmers will be given various means of support that include training to attract more buyers and assistance that would allow them to participate in events such as trade fairs and business and investment forums.
In an article featured in the June 27 issue of THE PHILIPPINE STAR, Philippine Exporters Confederation, Inc. (Philexport) president Sergio Ortiz-Luiz, Jr. called for assistance from both the public and private sectors that would boost exports and help them achieve the sector’s $100-billion revenue target by 2020.
Reforms and measures being sought by the export sector include the easing of government regulations, the strengthening of market intelligence, and the creation of measures that will encourage product diversification.
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THE MANILA TIMES reported on the launch of the Department of Information and Communications Technology’s National Broadband Plan last June 23, which seeks to address the country’s internet problems.
The National Broadband Plan, estimated to cost between P77 billion and P200 billion, is seen as a broadband infrastructure that will interconnect government offices across the country and give Filipinos, especially those located in remote areas, access to telecommunication services.
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The Department of Trade and Industry (DTI) will soon be launching the Pondo sa Pagbabago at Pag-Asenso (P3) program nationwide, which aims to lure small borrowers away from ‘5-6’ lenders.
STATE-RUN Credit Information Corp. (CIC) is looking to launch a second on-boarding stage in August for financial entities who have not yet submitted their loan data to the country’s credit information system database.
“We’re really keen on an August second tranche of pilot users,” CIC President and Chief Executive Officer Jaime P. Garchitorena told BusinessWorld in a recent interview.
MANILA BULLETIN reported last May 31, 2017 on the House of Representatives voting on third and final reading eight bills of vital importance to the country, among them House Bill 5663, which designates casinos as “covered persons” under the Anti-Money Laundering Act or AMLA. Under the bill, casino transactions that are greater than P5 million pesos may be subjected to a money laundering inquiry.
Meanwhile, the Senate approved its own measure, Senate Bill 1468, in a plenary session last May 30.
MANILA BULLETIN reported last May 31, 2017 on the House of Representatives approving on third and final reading eight bills of national importance, including House Bill 5670, which will provide free irrigation services to farmers, and also condone all unpaid irrigation fees, including back accounts and corresponding penalties; and House Bill 197, which will see to the restructuring and condonation of unpaid interests, penalties and surcharges on loans made by farmers, fisherfolk and agrarian beneficiaries from government agricultural credit offices and other credit agencies such as the Depa