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PLDT, Globe shares up, SMC down after Telstra talks collapse
MANILA, Philippines – Business direction remains the same for the Philippine Long Distance Telephone Company (PLDT) and Globe Telecom, Incorporated, even if joint venture talks between Telstra...
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BSP, Malaysian central bank ink deal for banks' entry
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and its Malaysian counterpart have signed an agreement as part of the ASEAN Banking Integration Framework (ABIF), which is designed to...
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How Bangladesh Bank dirty money easily got into PH
MANILA, Philippines – In the fallout of the $100-million Bangladesh Bank heist, the Philippine financial industry became front and center in the media, raising questions on how such a huge amount of...
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Filipino investors shifting more to cash – survey
MANILA, Philippines – Filipino investors are increasingly shifting to cash as their "best-of-the-worst" choice in a volatile market, the latest Manulife Investor Sentiment Index (MISI) revealed.The...
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Include casinos, art in anti-money laundering law – SEC chief
MANILA, Philippines – Securities and Exchange Commission Chairperson Teresita Herbosa called on Congress to further strengthen the country's Anti-Money Laundering Act, with the Philippines' involvement...
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BPO industry eyeing 225,000 new jobs in 2016 – DOLE
MANILA, Philippines – The country's white-hot information technology-business process management (IT-BPM) or business process outsourcing (BPO) industry is looking at adding more jobs to the economy,...
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RCBC manager, others face anti-money laundering complaint
MANILA, Philippines – The Anti-Money Laundering Council (AMLC) filed on Tuesday, March 15, an money-laundering complaint against Rizal Commercial Banking Corporation (RCBC) Jupiter-Makati City branch...
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RCBC manager invokes right vs self-incrimination at Senate probe
MANILA, Philippines – The bank manager at the center of the controversy involving Rizal Commercial Banking Corporation (RCBC) and 3 local casinos refused to respond to questions at the first public...
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OFW remittances rise to $2.2B in January 2016
MANILA, Philippines – Money sent home by Filipinos overseas increased at the start of the year despite global volatility and slowing economies in the Middle East.Personal remittances by overseas...
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$81-M bank heist money trail hits dead end in casinos
MANILA, Philippines – Philippine authorities were not able to trace the exact location of the $81-million stolen money from Bangladesh Bank's account, citing the country's "strict bank secrecy and weak...
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Campari to buy Grand Marnier in friendly takeover
PARIS, France – Italian drinks company Campari said on Tuesday, March 15, it has agreed to buy the French company that owns Grand Marnier, the orange-flavored liqueur much-used in cocktails and...
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Investors sue Volkswagen in Germany for over 3 billion euros
BERLIN, Germany – A group of 278 institutional investors from Germany and abroad is suing embattled auto giant Volkswagen for more than 3.0 billion euros ($3.3 billion) in damages over the...
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Philrem president: I received instructions from RCBC manager
MANILA, Philippines – The president of a money transfer firm claimed Rizal Commercial Banking Corporation (RCBC) branch manager Maia Santos-Deguito instructed her to convert into pesos part of the $81...
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'Clear link' between Bangladesh bank hackers, RCBC – Recto
MANILA, Philippines – The "clear link" between the group that hacked into the Bangladesh Bank account in Manhattan and Rizal Commercial Banking Corporation (RCBC) would be uncovered if bank manager...
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#AskTheTaxWhiz: Ins and outs of filing income tax returns
Dear Mr. Tax Whiz,Every Holy Week, I really offer all the difficulties I encounter in complying with the Bureau of Internal Revenue (BIR) as my Lenten sacrifice, especially in filing my annual income...
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European travel agents defy Internet threat
BERLIN, Germany – The doomsayers were 100% certain that the Internet would be the death of travel agents.But in Europe's 3 biggest economies, the industry is still very much alive and kicking as...
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OPEC, non-OPEC producers to meet on April 17 in Doha
DOHA, Qatar (UPDATED) – OPEC members and key oil producers from outside the cartel will meet on April 17 in Doha in a bid to stabilize falling crude prices, Qatari energy minister Mohammed al-Sada said...
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Faulty printer linked to $81M Bangladesh bank heist
DHAKA, Bangladesh – A printer fault at Bangladesh's central bank meant that overseas queries about suspicious transactions went unanswered, according to a report seen by AFP on Wednesday, March 16, on...
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TIMELINE: Tracing the $81-million stolen fund from Bangladesh Bank
MANILA, Philippines (UPDATED) – It has been over a month since the $81-million fund from Bangladesh Bank's account with the the Federal Reserve Bank of New York was stolen by hackers and coursed...
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Businesses come together to help 'excluded' youth
Exclusivity is a feature of many developing nations – exclusive high-end resorts and gated communities are a common sight from Mumbai to Manila.This exclusivity also spills over into the business...
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