Editor’s Pick

Pasay RTC returns conviction against illegal lender

THE Securities and Exchange Commission (SEC) said it obtained its eighth conviction against an illegal lender after a regional trial court (RTC) ruled against executives of X-CEE789 Lending and Trading, Inc. In a statement Tuesday, the regulator said the Pasay City RTC Branch 118 found X-CEE789 guilty beyond reasonable doubt for violating Section 12 (3)(a) of …

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Senate targets final reading approval of bill extending 2021 budget by Monday

THE SENATE plans to pass on third and final reading Monday a proposed law extending the validity of the 2021 national budget to the end of next year, after it passed on second reading Tuesday. “We will prioritize the approval of the extension of the validity of the 2021 National …

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Mining industry adopts climate change protocol

THE Chamber of Mines of the Philippines (CoMP) adopted a climate change protocol put forward by the Towards Sustainable Mining (TSM) organization, while harmonizing its standards for managing mine tailings with global norms. “This development was approved by the TSM community of interest (CoI) advisory panel following the recommendation of …

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DoF says digital channels promise faster cash aid distribution during calamities

FINANCE Secretary Carlos G. Dominguez III called on the Labor department to use digital data and payment systems to aid workers more rapidly during crises. “As we accelerate our recovery, I urge you to intensify your programs to help our workers cope with the pandemic and prepare them for the …

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Tuguegarao gets over P311-million DBP loan

THE Development Bank of the Philippines (DBP) said it approved a P311.8-million loan to Tuguegarao City which will fund infrastructure and farming projects. DBP President and Chief Executive Officer Emmanuel G. Herbosa said the loan will be used to build a housing project, drainage systems, an evacuation center, and pave …

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PHL seen as top 5 biofuel importer by 2026 as sugar output dwindles

By Marielle C. Lucenio THE International Energy Agency (IEA) said the Philippines is expected to become a top five importer of biofuels by 2026. “The Philippines joins the top five import list as a stable ethanol blending requirement, increasing gasoline demand and a historically high import ratio lead to growing …

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Cryptocurrency role seen growing in remittances, gaming

CRYPTOCURRENCY will likely continue gaining traction in the Philippines particularly in remittances, payments, and online games, participants in a BusinessWorld Insights Forum said. At the “Fintech’s Place in the Growth of Cryptocurrencies” forum, speakers said they expect more people to try crypto, presenting both opportunities and risks. Melchor T. Plabasan, …

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Council says pandemic accelerated rise of digital finance

THE Financial Stability Coordination Council (FSCC) said one of the positive results of the pandemic is the accelerated development of digital finance. The Council said in a statement Tuesday that it has considered the findings of multilateral agencies and international bodies which concluded that global financial markets were able to …

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Electronics industry seeks review of perks, claims FDI weakening

THE electronics industry called for a review of the fiscal incentives system under Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, noting that the next government needs to address the weaker-than-expected levels of foreign investment the law has generated. “On one hand, CREATE …

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Robredo sees trust in gov’t as critical to investor confidence

VICE-PRESIDENT Maria Leonor G. Robredo said her platform if she wins the Presidency will conform largely to the economic planning agency’s long-term blueprint, but emphasized the need for “trust” in the government to attract the needed investment. She said in a recorded video during the 10th Arangkada Philippines forum Tuesday that …

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