SINGAPORE (31 January 2017) — Digital technology that promotes financial inclusion can increase GDP by as much as 6% for economies in Southeast Asia, according to a new report Accelerating Financial Inclusion in Southeast Asia with Digital Finance. The report is jointly published by the Asian Development Bank (ADB READ MORE
CHINESE billionaire Jack Ma’s Ant Financial Services Group is taking a “substantial” minority stake in the Globe Telecom, Inc. unit that ope-rates GCash, a deal described as its first-ever investment in the Philippines
A mascot of Ant Financial is seen at its READ MORE
DAVAO CITY—The Bangko Sentral ng Pilipinas’s (BSP) effort to widen its reach among unbanked Filipinos is being hampered by the restrictions being imposed by the banking sector, industry sources said.
Even the banks have appealed to the BSP and the Anti-Money Laundering Council to help them persuade READ MORE
For so many years, reducing poverty has been one of the top priorities of the government. Anti-poverty policies such as Pantawid Pamilyang Pilipino Program (4Ps) was introduced to address the short-term financial needs of the poorest among the poor families of society, but the government recognized that it can also READ MORE
The Philippine economy remained buoyant at the start of 2017, but the loose fiscal stance of the current administration and sustained revenue shortfalls could prompt revisions to its credit ratings, global lender Deutsche Bank said over the weekend.
The bank pointed out that one of the recent indicators, the READ MORE
Fely Bocanegra, a vegetable vendor at the Santa Ana public market in Manila, relies solely on the ever-present Indian money lender for her daily business capital. Under the usual setup, a 20-percent interest is charged to the borrower payable up to 30 to 40 days, and collection is made on a daily basis. READ MORE