Business IT

The SEC said the act of Crowd1 of publishing and making presentations on its investment/business scheme through its website, Facebook, YouTube and on-ground events, and inviting investors constituted a public offering not allowed under its license.

The state-owned digital-only Overseas Filipino Bank (OFBank) has registered about 300 account openings a day since its mobile app was launched last June 29, its president and chief executive officer Leila Martin said.

Bonds.PH is a new online investment platform that allows small individual investors to avail of the government's next Retail Treasury Bond (RTB).

The DTI said 10,323 online complaints were received by the agency in January to June of this year.

Some regular employees of BPO companies were reportedly being put on "floating status" after coming into contact with Covid-19 patients and after offshore accounts pulled out their Philippine operations due to the global economic downturn.

The electronics sector, which accounts for over half of the country’s total merchandise exports, experienced a steep 18.8% decline in export value from January to May this year.

Finance startup Tonik said it received early this year a license from the Bangko Sentral ng Pilipinas (BSP) to operate as a digital bank.

It is not business as usual yet in the information technology and business process management (IT-BPM) space, but the sector continues to open job opportunities amid the pandemic, industry group IBPAP said.

The BSP earlier said that volume of InstaPay transactions during the ECQ in Luzon from March 17 to May 12 rose by 84%, while PesoNet transactions grew by 24%.

PayMaya said Smart Padala agents in select areas around the country are now equipped with QR codes to encash funds for beneficiaries of the second tranche of the DSWD’s Social Amelioration Program (SAP).