SINGAPORE is accelerating the shift toward digital payments by pledging to eliminate check usage by 2025 and slash cash withdrawals from automated telling machines.

They are some of the biggest success stories today: Tony Tan Caktiong, the poor boy from China whose small ice cream franchise turned into Jollibee, the world’s fast-rising fastfood superstar; Injap Sia II, self-made billionaire before he turned 40, courtesy of a fastfood chicken barbecue chain called Mang Inasal; and Dennis Uy, another young tycoon from Davao City who is building a vast empire out of Phoenix Petroleum and a diverse range of shipping, logistics, and real estate ventures.

THE PESO strengthened by a tad against the dollar on Thursday following the central bank’s decision to raise interest rates.

DEMAND for term deposits grew even weaker yesterday, with banks crowding the week-long tenor as they take a wait-and-see stance on developments in financial markets.

THE MICROINSURANCE industry saw increases in its total premium production and number of people covered in the first quarter, the Insurance Commission (IC) said.

MOODY’S INVESTORS Service has assigned counterparty risk ratings (CRR) to 10 Philippine banks, assessing the lenders’ capability to carry out their contractual obligations.

LIFE INSURER Pru Life UK is set to offer asset management and trust products after getting the central bank’s approval to establish a trust corporation.

THE PESO slid against the dollar on Wednesday as investors remain wary about trade tensions overseas and amid the decision of the local central bank to raise its interest rates.

THE GOVERNMENT partially awarded the reissued 20-year Treasury bonds (T-bonds) it offered Tuesday with yields picking up as the rising interest rate environment prompted investors to be more cautious.

RIZAL COMMERCIAL Banking Corp. (RCBC) is set to launch a remittance service in partnership with two Japanese banks using the blockchain technology for a cheaper and faster way of sending money.

REINSURANCE BROKER Jardin Lloyd Thompson (JLT) Philippines emphasized the need for companies to insure themselves versus cyber attacks amid escalated threats worldwide.

THE PESO regained some strength against the dollar on Tuesday on the back of stronger remittances in April.