Regulators to cut red tape for bank mergers

The country’s financial regulators have agreed to streamline their procedures governing mergers and acquisitions in the local banking industry in a bid to expedite the process of consolidation among financial institutions. Initiated by the Philippine Deposit Insurance Corporation, the multi-agency project, which is the first of its kind among financial regulators, aims to harmonize the…

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Globe raises $600M from equity securities offer

Globe Telecom Inc. has raised from the sale of equity securities abroad $600 million, which it would use to finance network upgrades and to pay off debts. Globe on Wednesday announced its return to the international capital markets after its dual-tranche US dollar-denominated senior notes issuance in 2020. The $600-million fundraising involves five-year dollar-denominated senior…

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Small businesses benefitting from QR payment system, says BSP

Filipino entrepreneurs who have adopted electronic payment systems are now even more productive, efficient and competitive, thanks to the new quick response (QR) code system that makes person-to-merchant transactions easier. In a statement, the Bangko Sentral ng Pilipinas (BSP) further urged consumers, payment service providers and merchants, including micro, small and medium enterprises, to avail…