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Jan 13 2021 Sotto: No need for 3rd stimulus after extension of Bayanihan II
SENATE President Vicente C. Sotto said he does not see the “necessity” for another stimulus package with the extension of the validity of the second package, known as Bayanihan II, to the end of June.
Mr. Sotto said a sequel to Bayanihan II, known more formally as the Bayanihan to Recover as One Act or Republic…
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Jan 13 2021 ‘Remarkable’ rebound seen this year
THE WORST is over for the pandemic-hit Philippine economy, and a “remarkable rebound” is expected this year, the central bank chief said on Tuesday, adding that the current accommodative monetary stance is sufficient for a revival in growth.
At the same time, Moody’s Investors Service raised its growth outlook for the Philippines to 7% this year…
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Jan 11 2021 DiskarTech Ranked as the Most Downloaded Finance App in 2020
DiskarTech, Rizal Commercial Banking Corporation’s (RCBC) virtual bank, has emerged as the Philippines’ number one finance app released in 2020 across distribution platforms in terms of downloads according to App Annie, global provider of mobile data and analytics.
DiskarTech had reached one million downloads just one month after its market launch. As of December 31, 2020, DiskarTech has been downloaded…
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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…