Banks told to guard vs dummy accounts

THE ANTI-MONEY Laundering Council (AMLC) has warned banks and other financial companies to tighten their watch against dummy accounts, used by drug dealers to hide illicit funds.

Consultancy says political risk a blot on PHL outlook

BIGGER tax collections and a local infrastructure boom can be expected to help sustain Philippine economic growth, Capital Economics said in a report on Tuesday, even as it warned that persistent political uncertainties could dampen investor appetite.

Gov’t pitching more projects for AIIB funding

THE PHILIPPINES is seeking Asian Infrastructure Investment Bank (AIIB) funding for more projects, the Department of Finance (DoF) said on Tuesday.

Global Ferronickel to raise over P500 million from share sale

GLOBAL FERRONICKEL Holdings, Inc. (FNI) has priced its follow-on share sale at a discount, which will allow it to raise just over P500 million or half of its original target of P1 billion.

Revolution Precrafted enters European market

REVOLUTION PRECRAFTED Philippines, Ltd. is on track to expand to 25 markets by the end of the year, announcing on Tuesday its entry into Europe through a partnership with a Barcelona-based firm.

IHG rebranding Remington Hotel as Holiday Inn Express

THE INTERCONTINENTAL Hotels Group (IHG) is taking over the Remington Hotel in Pasay City, rebranding it as the Holiday Inn Express (HIEx).

Gov’t rejects all tenders for T-bonds as rates rise

THE BUREAU of the Treasury (BTr) rejected all bids for the five-year bonds it offered on Tuesday as the market sought higher rates due to expectations of more policy adjustments from the local central bank.

RCBC to inject more capital into thrift, leasing units

RIZAL COMMERCIAL Banking Corp. (RCBC) will put in more capital in two of its subsidiaries to support its growth.

Citi sees growth in use of digital banking platform

CITIBANK, N.A. Philippine Branch (Citi Philippines) is optimistic about the growth of its digital banking platform in the country amid issues on connectivity and usage.

May sees state revenues, spending rise

THE GOVERNMENT saw its fiscal deficit dip last month from the past year, as revenue growth slightly outpaced that of spending, the Bureau of the Treasury (BTr) reported on Monday.