LONDON, England—When a country greenlights nuclear power projects, it exposes stakeholders to significant risks. Who reaps the revenue? Who will bear the burden of a fallout? And who gets stuck with the bill? At the recent World Nuclear Symposium in London, one question came up again and again:...
The Securities and Exchange Commission (SEC) has ordered Fuse Lending Inc. to stop its unlicensed lending operations while suspending Sumulong Financing for failing to get approval for its business plan. The Commission said it has issued a cease and desist order (CDO) against Fuse Lending for its...
The Securities and Exchange Commission (SEC) has slapped a 60-day suspension on Jia Financing Inc. for operating an illegal website and for failure to disclose new loan products and services. In a statement, the SEC said it has suspended the certificate of authority of Jia Financing operate as a...
While the Philippines’ exit from the European Union’s (EU) high-risk jurisdictions list is expected to ease the country’s access to the EU financial system, debt watcher Moody’s still urged continued vigilance in sectors such as online gaming and cryptocurrency to ensure it does not return...
All Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) have been ordered to strengthen their risk management procedures by integrating the screening of negative news reports—such as fraud, crime, and scandals involving customers—into their customer due diligence and...
Senate President Francis “Chiz” Escudero renewed his call for the government to first resolve the concerns of transport groups regarding on financing before pushing for the Public Transport Modernization Program (PTMP). “My position has not changed. Until the government perfects the...
The United States has exempted a portion of its foreign military financing for the Philippines from its global foreign aid freeze, the Department of Foreign Affairs (DFA) said. Foreign Affairs spokesperson Ma. Teresita Daza confirmed on Monday, Feb. 24, that Manila has been informed of the waiver...
Global Dominion Financing Inc. (GDFI), a member of the Asialink Group, has been assigned an Issuer Credit Rating of PRS A plus (corp.), with a stable outlook, by the Philippine Rating Services Corporation (PhilRatings). In a statement, PhilRatings said a company rated PRS A has an above average...
ILOILO CITY – Police arrested three individuals in Negros Occidental province for alleged terrorism financing. Police identified the suspects as Federico Salvilla, Perla Pavillar, and Darryl Albañez. The suspects were apprehended by the Negros Occidental Police Provincial Office in...
By DERCO ROSAL With nine out of every 10 Filipinos feeling the harsh impacts of climate change, the Asian Development Bank (ADB) will support drought and flood preparedness in the Philippines and other member countries to mitigate the impact on lives and livelihood. Over the next six years, the...
Financing, mainly borrowings, for Philippine climate change mitigation and adaptation projects hit a record-high $3.131 billion (over P174 billion) in 2023. The 2023 Joint Report on Multilateral Development Banks' (MDBs) Climate Finance published by the European Investment Bank (EIB) this month...
Banks and other lending institutions are reportedly asking the Department of Energy (DOE) for a categorical definition and conclusive policy framework that shall serve as anchor to prospective financing of ‘transition coal’ projects that are still being allowed by the government for commercial...
