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Jan 11 2021 Trade Chief sees promising business prospect in PH for 2021
After getting a heavy beating in 2020 from the coronavirus pandemic that created economic havoc, many have expressed optimism on what lies ahead in 2021 given the fact that that many are back in the business and also the availability of the vaccine added to this good forecast.
With all these indications and bullish forecast from…
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Jan 11 2021 FinScore Inks Partnership With UnionBank for Data-Driven Credit Scoring
UnionBank has signed a partnership agreement with FinScore, an alternative credit scoring company that is powered by telco data and advanced analytics, aiming to promote market efficiencies and expand the access of Filipinos to a broad range of financial services.
The collaboration comes amidst the immense demand for digital loans and financing due to the COVID-19 pandemic.
The…
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Jan 11 2021 Fitch Ratings gives PH ‘BBB’ rating with ‘stable’ outlook
As the global trend of credit rating downgrades continues, the Philippines can welcome with relief the latest investment-grade credit rating as international debt watcher Fitch Ratings has kept the Philippines’ investment-grade credit rating of “BBB” with a “stable” outlook.Citing the manageable fiscal situation despite the COVID-19 crisis and favorable growth prospects amid a declining number…
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Jan 10 2021 Filinvest-led Investree aims to plug credit gap for SMEs
The Gotianun-led crowdfunding portal Investree Philippines will initially target small and medium-sized enterprises (SMEs) from the immediate ecosystem of the Filinvest Group before it sets its sights on other businesses within the first quarter.
“The goal is to match or outperform the growth trajectory of the Investree business in Indonesia, which has grown to be the industry leader…
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Jan 10 2021 Withdrawal of pandemic measures prudent, data-driven: BSP
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday any move to end measures to address the pandemic’s economic impact will be made cautiously and will be data-driven.
In his speech during the 27th membership meeting of the Rotary Club of Manila, he said recovery from the virus-induced global health problem, which led to…
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Jan 09 2021 Congress urged to hasten approval of economic recovery bills
President Rodrigo Duterte’s Economic managers are pushing for the early congressional approval in 2021 of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and other legislative measures, designed to reinvigorate the economy and provide businesses with the stimulus they need to overcome the unprecedented global financial shock from the coronavirus pandemic.
Finance Secretary Carlos…
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Jan 08 2021 GCash Inches Closer to Unicorn Status With $175 Million Capital Raise
Globe Fintech Innovations, Inc. (Mynt), the fintech arm of Globe Telecom and operator of e-wallet GCash, raised over $175 million in fresh capital and inches closer towards achieving unicorn status with a post-valuation close to the $1 billion mark.
The funding came from ASP Philippines LP, a limited partnership fund managed by investment firm Bow Wave Capital…
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Jan 07 2021 Insular Life unveils new insurance product
Life insurance firm Insular Life rolled out a new life insurance product that gives guaranteed cash payouts and coverage for 20 years.
Insular Life said Basic Assure 10 is payable for 10 years but it provides for insurance protection for 20 years.
On the sixth year of the policy, the death benefit would also increase to 200…
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Jan 07 2021 BSP adopts new bank rating system
THE Bangko Sentral ng Pilipinas (BSP) started implementing this month a new compliance rating system for banks called the Supervisory Assessment Framework (SAFr), which it hopes will ensure stability in a post-pandemic environment.
Full Article: https://www.bworldonline.com/bsp-adopts-new-bank-rating-system/?fbclid=IwAR1NRThyj1cqBbFs69l9lgxKcFIqSbWhhPUZEJxlA3BHnP_r0km4KRh-vfI
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Jan 06 2021 Cashless craze fuels PayMaya’s 2,000 percent YOY growth
Major digital financial services frontrunner PayMaya has heeded the call of the times by enabling micro, small and medium enterprises (MSMEs) to thrive and survive during the pandemic period.
As of end-November, the number of MSMEs utilizing PayMaya’s various digital payment acceptance solutions have grown exponentially by 2,000 percent year-on-year, signifying a sea change on how merchants…