Coinbase, a leading cryptocurrency exchange platform, is exploring expansion into the Philippines, according to the Department of Finance (DOF). In a Facebook post, the DOF stated that Finance Secretary Ralph Recto met with Coinbase co-founder and CEO Brian Armstrong during the World Economic Forum...
Homegrown non-bank lender Asialink Finance Corp. (AFC) has secured a $130 million (around P7.605 billion) financing deal with the International Finance Corporation (IFC), a World Bank Group member, aimed at improving its working capital and support for small businesses, especially those owned by...
Locals of Laguna could enjoy additional protection from floods as the Philippines has already secured financing totaling $905.26 million (about P50.67 billion) from a Korean bank. During the World Economic Forum (WEF) in Davos-Klosters, Switzerland, Department of Finance (DOF) Secretary Ralph G....
Young Filipinos are investing in cryptocurrencies at a level comparable to the government's national budget, and this trend is likely to grow further with potentially supportive Trump policies. “In the Philippines, many Filipinos have already invested in cryptocurrency, with investments amounting...
While the Bureau of Internal Revenue (BIR) expressed optimism about repeating its historic beyond-target collection in 2025, achieving the double-digit growth target this year will be challenging for the Bureau of Customs (BOC), President Marcos’ chief economic manager said. Department of Finance...
Department of Finance (DOF) Secretary Ralph G. Recto said that key borrowing costs are unlikely to drop to pre-pandemic level amid expectations that the US Federal Reserve (Fed) will slow down its policy rate reduction. According to the finance chief, the market expectation for 2025 is for...
Devastating calamities that have ravaged the Philippine archipelago caused a serious impact on the growth of the local economy, dragging the full-year growth away from the target, President Marcos’ chief economic manager said. “We probably did not hit our growth targets in 2024 because of...
Department of Finance (DOF) Secretary Ralph G. Recto assured that transferring P107.23 billion from the Philippine Deposit Insurance Corporation (PDIC) to the national treasury will not compromise its reserve fund. On Jan. 16, Wednesday, the finance chief asserted that the P107.23 billion was...
Local government units (LGUs) will be receiving a 35-percent share from the National Tax Allotment (NTA) by 2026, President Marcos’ chief economic manager said. During an informal press chat on Wednesday, Jan. 16, Finance Secretary Ralph G. Recto told reporters that come 2026, LGUs share...
The Asialink Group of Companies has announced a reorganization of its leadership team, effective in 2025, as the company sets its sights on growth in its core businesses and expansion into new markets, particularly in small and medium enterprise (SME) lending. "Team Asialink is clear-eyed on our...
The Philippines stands to benefit from recent regional investments made by the International Finance Corp. (IFC) to help struggling small and medium businesses. Documents showed that the board of the World Bank Group's private-sector lending arm is scheduled to approve on Jan. 2, 2025 an up to...
The Department of Finance (DOF) faces the daunting task of generating P12.72 billion in revenue every single day to support the Marcos administration’s ambitious P6.326 trillion national budget for 2025. In a statement on Monday, Dec. 30, Finance Secretary Ralph G. Recto acknowledged the huge...
