While warning that the country braces for energy transition that will be expensive, Energy Secretary Raphael P.M. Lotilla has appealed to banks and other financial institutions for longer tenor on loans that will be funneled to power projects across technologies as a way to soften cost impact on...
WASHINGTON — Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 billion in assets...
NEW YORK (AP) — Big banks warned of an "uncertain" year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. JPMorgan reported a modest 6% rise in profits Friday while...
The Bureau of Internal Revenue (BIR) announced that all its authorized agent banks (AABs) will operate on two Saturdays before the April 15 deadline for filing income tax returns. According to a bank bulletin issued by the tax bureau, the 19 banking institutions that make up the AABs will be open...
LONDON, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas projects, but still ran into fierce criticism from campaigners who said the moves don't far enough. As part of its updated climate strategy, the bank added it would...
Sen. Mark Villar reiterated the need for the passage of the Anti-Financial Account Scamming Act (AFASA) that would, not only provide for a penalty after the fact, but one that effectively responds to or even prevent criminals from facilitating various forms of financial scams. Sen. Mark Villar...
Developers of gigawatt-scale floating solar farm projects are in a bind on their project finance-raising activities because of the programmatic environmental compliance certificate (ECC) that may turn out not acceptable as requirement to lenders, especially to foreign banks. In an interview,...
Senator Mark Villar, chairman of the Senate Committee on Banks, Financial Institutions and Currencies, pushed for the passage of the proposed Anti-Financial Account Scamming Act (AFASA) to ensure that no scammers will be able to defraud Filipino banking consumers in the long run. Sen. Mark...
HSBC was recently recognized as the Best International Private Bank in the Philippines1 by Asiamoney Private Banking Awards 2023 for supporting international business owners, entrepreneurs and their families and helping them grow their wealth across generations over the years. “Our knowledge...
Major Philippine banks came together to express their willingness to lend to micro-farmers who are under Go Negosyo’s Kapatid Angat Lahat (Kalap) Agri Program, its founder Joey Concepcion said on Tuesday, April 4. During the Laging Handa press briefing, the Private Sector Advisory Council member...
Senator Francis “Chiz” Escudero urged the Marcos government to address the “many gaps and loopholes” in the proposed Maharlika Investment Fund (MIF) law and clarify its purpose to the Filipino people. Escudero said the MIF bill, in its current form, needs further amendments to strengthen...
Senate Minority Leader Aquilino Pimentel III said on Thursday, January 26, he is saddened that his motion to refer the controversial Maharlike Investment Fund (MIF) bill to the Senate Committee on Government Corporations and Public Enterprises was not considered by his colleagues. Pimentel had...
