BACOLOD CITY – The City Legal Office (CLO) is investigating an alleged mass falsification scheme involving 32 employees of the General Services Office (GSO) at the Bacolod City Government Center (BCGC). The suspects—composed of utility workers, clerks, and drivers—allegedly tampered their...
Two of the country’s major teachers’ organizations have called on the Government Service Insurance System (GSIS) to provide stronger, more compassionate, and more direct financial assistance to government workers and educators severely affected by recent disasters, particularly Typhoons Tino...
The Securities and Exchange Commission (SEC) has ordered seven online platforms to stop lending-related operations since they are not registered with the Commission. In separate cease and desist orders (CDOs) dated Aug. 15, the SEC Financing and Lending Companies Department (FinLend) directed Cash...
Eligible micro, small, and medium enterprises (MSMEs) in the tourism sector may now access loans of up to P20 million through a financing initiative launched by the Department of Tourism (DOT), in partnership with the Department of Trade and Industry (DTI). The program is implemented through the...
A wood pellet plant operated by U.K.-based energy company Drax Group is seen in Gloster, Miss., in 2024. (The Perfect Shot/Southern Environmental Law Center via AP) Shell got one. So did the pipeline company Enbridge. And last summer, energy giant Drax got its biggest one to date, worth more than...
The Philippines is the World Bank's fifth-biggest borrower for the second-straight year, coinciding with the first two years in office of President Ferdinand R. Marcos Jr. The World Bank's latest Annual Report disclosed on Oct. 18 showed that in fiscal year 2024 covering the period July 1, 2023 to...
Debt payments by the Philippine government breached the P1 trillion threshold in the first four-months of the year due to higher interest settlements. Data from the Bureau of the Treasury showed that the national government's debt servicing reached P1.15 trillion in January to April, or 32 percent...
Debt payments made by the government decreased in February due to lower principal payments made to domestic creditors, data from the Bureau of the Treasury showed. The national government's debt servicing reached P293.61 billion last February, 22 percent lower than the P375.71 billion paid out in...
DUBAI, UAE – The Export and Investment Fund of Denmark (EIFO) is keen on extending soft loans to the array of energy efficiency projects being carried out in the Philippines, according to Danish Ambassador to the Philippines Franz-Michael S. Mellbin. In an interview on the sidelines of the COP28...
State-owned Government Service Insurance System (GSIS) has issued guidelines for providing emergency loans (EL) to both active members and pensioners. In a memorandum dated Nov. 22, 2023, GSIS said eligible borrowers may receive emergency loans worth P20,000, and those with existing EL accounts who...
Government-run National Electrification Administration (NEA) reported that it extended P934.56-million worth of loans to at least 24 electric cooperatives (EC) as of end-October this year. The electrification agency emphasized that the released loans to ECs had been anchored on its Enhanced Lending...
Total loans extended by the National Electrification Administration (NEA) to at least 18 electric cooperatives (ECs) topped P560 million in the first half of the year. Based on data released by NEA’s Accounting Management and Guarantee Department (AMGD), the power utilities serving consumers in...
