By DERCO ROSAL Department of Finance (DOF) Secretary Ralph G. Recto has secured the support of London executive Alderman Michael Mainelli to boost the Philippines’ ambitions in artificial intelligence (AI) and climate finance. On the sidelines of the Philippine Economic Briefing in London, Oct....
Asialink Finance Corporation has secured a P1 billion credit line facility from Maybank Philippines to help provide financing options for micro, small, and medium enterprises (MSMEs). In a statement on Wednesday, Oct. 30, Asialink said the partnership aims to accelerate its loan disbursements and...
By DERCO ROSAL Finance Secretary Ralph G. Recto said that the Department of Finance (DOF) will abide by the Supreme Court’s (SC) temporary restraining order (TRO) that halts the utilization of Philippine Health Insurance Corp.’s (PhilHealth) idle, unused, and excess funds. On Tuesday, Oct. 29,...
By DERCO ROSAL The Philippines is poised for potential credit rating upgrade given the country’s resilient economy and positive growth outlook, global banking giant Citi executives stated. “Citi executives expressed confidence that the country is well-positioned for a credit...
State-run Social Housing Finance Corporation (SHFC) has declared a one-month moratorium on monthly payments for beneficiaries affected by Tropical Storm Kristine. In a statement, Federico A. Laxa, SHFC president and chief executive officer, said the initiative aims to provide immediate financial...
The Department of Finance (DOF) said that the US Department of the Treasury has vowed to support the country’s efforts to strengthen its tax and customs administration system. The DOF said the commitment was made by US Treasury Undersecretary Jay C. Shambaugh and other senior officials during a...
The Department of Finance (DOF) has assured the public that the national government is fully prepared financially to support relief and rehabilitation efforts in areas impacted by the devastation of Typhoon Kristine. Finance Secretary Ralph G. Recto said the government has adequate funds available...
A Mauritius-based fund manager is eyeing a $50-million investment from the International Finance Corp. (IFC) to support medium-sized firms in the South and Southeast Asian regions, including the Philippines. The IFC disclosed on Oct. 22 that Creador Management VI Ltd. sought funding from the World...
By DERCO ROSAL Amid concerns about a potential Donald Trump victory and its impact on global trade, President Marcos’ chief economic manager expressed optimism about the Philippines' strong relationship with Washington and projected a surge in investment from US companies. In a briefing in...
By DERCO ROSAL The Department of Finance (DOF) is urging swift action to finalize a new climate financing framework by next year, aiming to help developing countries balance growth and tackle climate challenges. As a major element of the Paris Agreement, the country is calling for the completion of...
The Bureau of Customs (BOC) has confiscated P72.1 billion worth of smuggled goods in the first 10 months of 2024, exceeding its total seizures of P43.29 billion from the previous year. At the BOC’s Inter-Agency Intelligence Summit on Oct. 18, Customs Commissioner Bienvenido Y. Rubio credited the...
State-owned Social Housing Finance Corporation (SHFC), AVECS Corporation, Bulacan’s local government have partnered to develop 1,000 housing units in the municipality of Pulilan. Signed on Oct. 16, the memorandum of understanding (MOU) outlined a collaboration for the construction of Mom’s...
