The Securities and Exchange Commission (SEC) has filed a criminal complaint against four Chinese-controlled firms for operating unregistered online lending platforms (OLPs).
Since the development and launch of the next-generation system in 2019, business name applications registered and processed online grew from 35% to 75% based on the payment collections received.
House of Representatives minority leader Marcelino “Nonoy” Libanan has issued a warning against online retailers who do not put price tags on their products, and who only divulge their prices via private message (PM) to prospective buyers.
The electronics sector remains to be the Philippines' top export, accounting for 66.3% of total exports during the period with export sales value of $5.1 billion.
Meanwhile, the National Economic and Development Authority (NEDA) said the digitalization of the Philippine economy and government is one of the six strategies it would implement over the next five years to facilitate economic and social transformation under the Philippine Development Plan (PDP).
With this acquisition, Unity Digital Infrastructure is poised to have over 1,000 active macro towers and around 500 poles for small cells in key cities nationwide.
In a notice, the SEC announced that by Feb. 1, 2023 all payments will be accepted only through the Electronic System for Payments to the SEC (eSPAYSEC) or at any branch of the Land Bank of the Philippines nationwide.
Following the discussions, the SEA-H2X consortium is optimistic that the 5,000-kilometer submarine cable system will be online by 2024. SEA-H2X will connect Hong Kong SAR China, Hainan China, Philippines, Thailand, East Malaysia, and Singapore.
The payments business of banks are now “increasingly being eaten away” by smaller and more nimble players in the financial technology (fintech) space, representatives from financial software company Finastra shared in an interview with Newsbytes.PH.
Being the regulator of the securities market, the SEC said it is concerned about the reported “budget overruns,” as well as the selloff in PLDT shares before the publicly listed company could make the official disclosure.
