Regulators unite to enforce fair play in telecom sector
The Philippine Competition Commission (PCC) has signed a memorandum of agreement (MoA) with the National Telecommunications Commission (NTC), formalizing an interagency partnership aimed at enhancing competition and regulatory coordination within the country’s data transmission industry.
Ombudsman shortens suspension of GSIS chief, 4 others
The Ombudsman has lifted the preventive suspension of Arnulfo Veloso, president and general manager of the Government Service Insurance System (GSIS), which was imposed following an anonymous complaint alleging grave misconduct and gross neglect of duty over a P1.45 billion investment in perpetual preferred shares of Alternery Holdings Corp.
Ayala acquires majority stake in Cebu Velez General Hospital
Ayala Healthcare Holdings Inc. (AC Health) announced on Friday it is acquiring a 60 percent majority stake in Cebu Velez General Hospital (CVGH), a 200-bed Level 3 hospital in Cebu City, through its Healthway Medical Network.
BPI extends ₱7.4B funding for major solar project in Zambales
The Bank of the Philippine Islands (BPI) has signed a ₱7.4 billion project finance deal with AP Renewable Energy Corp., a subsidiary of Aboitiz Renewables, Inc., to fund a 221-MWp solar power plant in Olongapo, Zambales.
BSP tightens rules on large cash transactions
The Bangko Sentral ng Pilipinas (BSP) has issued new regulations requiring that large cash transactions exceeding ₱500,000 (or its foreign currency equivalent) be processed through traceable financial channels, as part of efforts to combat money laundering and enhance financial system integrity.
