SEC permanently shuts Fast Track

THE Securities and Exchange Commission (SEC) has ordered the permanent shutdown of Fast Track Worldwide, Inc., which it found operating an unauthorized investment scheme. In an Aug. 20 resolution uploaded on its website, the corporate regulator has denied Fast Track’s motion to lift its cease-and-desist order, and has made such …

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PHL may see worst slump in ASEAN

The Philippine economy plunged into recession in the second quarter, as the lockdown halted economic activity. — PHILIPPINE STAR/MICHAEL VARCAS PHILIPPINE gross domestic product (GDP) is expected to shrink by 8% this year, the steepest projected decline among economies in Southeast Asia, according to Fitch Ratings. “Renewed lockdown measures in …

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Regional Updates (09/08/20)

DENR’s Manila Bay ‘white sand’ project violates at least five laws — NGOs SEVERAL NONGOVERNMENT organizations (NGOs) claimed that the dumping of crushed dolomite or ‘white sand’ along the coast of Manila Bay by the Department of Environment and Natural Resources (DENR) violated at least five laws that affected fisheries, …

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Nationwide round-up

COOPERATIVES NATIONWIDE have contributed a total of P1.3 billion for assistance programs relating to the coronavirus pandemic, benefitting both their members and non-members. Cooperative Development Authority (CDA) Chairman Orlando R. Ravanera, in a briefing on Tuesday, reported that the country’s 18,481 cooperatives contributed to food aid, personal protective equipment, and …

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