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The central bank said it continues to require banks to accept unfit notes—those that are heavily creased, disintegrating or badly soiled —contrary to previous reports that these institutions will no longer accept such notes. In a statement on Monday, the Bangko Sentral ng Pilipinas (BSP) cited BSP Circular 289, dated…

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The central bank on Tuesday launched the Bataan Credit Surety Fund (CSF), which aims to help cooperatives and micro, small and medium enterprises (MSMEs) in the province gain easier access to bank credit, even without collateral. CSF is a trust fund set up by pooling contributions of participating cooperatives, local…

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The Department of Trade and Industry (DTI) will conduct an outbound business mission in Europe next month to strengthen the economic ties of the Philippines with European countries. Led by Secretary Gregory L. Domingo and Undersecretary Ponciano C. Manalo, Jr., the visit to Europe intends to cover countries such as…

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Indian car manufacturer Tata Motors on Tuesday assured the Philippine automotive market its local arm is more than ready to cater to customers, with services including aftermarket sales. It is also eyeing to launch four more units, which would be all diesel-powered, starting July this year, according to Pilipinas Taj…

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THE board of directors of Ayala Land Inc. has approved the company’s plan to issue P5-billion worth of Homestarter Bonds, through which the property giant hopes to raise funds for its residential projects. In a meeting held on Tuesday, the board of the listed real estate blue chip approved the…

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“Gorio” (international name Rubia) is the first storm ever where no deaths or injuries were reported, a ranking official of the National Disaster Risk Reduction and Management Council (NDRRMC) said Sunday. “I think this is the first time that we have a zero casualty from a tropical…

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HOST Adamson University opened its campaign in the UAAP Season 76 basketball with a 79-67 victory over University of the Philippines on Sunday at the Mall of Asia Arena in Pasay City. Guard Jericho Cruz paced the Falcons with 19 points along with six rebounds and three assists, while the…

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Storm “Gorio” changed course Sunday, sparing Metro Manila from major flooding. Still, Sunday remained a wet day for metro residents, having rained overnight and with light rain continuing over many parts of the city. Vicente Malano, Philippine Atmospheric, Geophysical and Astronomical Services Administrations (PAGASA) acting administrator, said Gorio had…

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Foreign Currency Deposit Units (FCDU) loans rose in the first quarter of 2013 as loan disbursements accelerated, the Bangko Sentral ng Pilipinas (BSP) said on Friday. In a statement, BSP Officer in Charge Diwa Guinigundo announced that FCDU stood at $9.653 billion or an increase of 11.4 percent compared…

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The Department of Agriculture (DA) will meet with truckers and freight industry stakeholders to thresh out problems regarding new guidelines in transporting agricultural products that took effect on June 1. The meeting on July 15 will tackle various issues on the effects of the new resolution amending the Implementing Rules…

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CAMP PACIANO RIZAL, LAGUNA – A team from the Laguna Provincial Intelligence Branch and Lumban police arrested five members of a family in Lumban, Laguna, on suspicion of running a shabu ring. Laguna PNP Provincial Director Sr Supt. Pascual Munoz Jr, identified the suspects as Ricardo Rana, his brother…