(The Philippine Star) - July 28, 2019 - 12:00am MANILA, Philippines — In line with our vision for higher quality of life for all Filipinos, the Bangko Sentral ng Pilipinas (BSP) has embraced financial inclusion as a worthy goal, long before it was mainstreamed as a global development agenda. We recognize that bringing financial services to all, especially those that are underserved and unserved, opens up opportunities for poor families in the country to improve their household welfare, spur enterprise activity and participate meaningfully in economic activities. Thus, we continue to relentlessly pursue policy and supervisory reforms which systematically accelerate the level of financial inclusion in the Philippines. State of financial inclusion in the Philippines The Philippine economy has been growing consistently and in recent years, at levels regarded as one of the fastest in Asia. In fact, our GDP growth rate of 5.6 percent in the first quarter of … [Read more...] about Digital banking policies toward greater financial inclusion
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Senator Manny Pacquiao walked away with another fat paycheck after his boxing win yesterday. At the age of 40, he is one of the few people in the country that can claim to have enough wealth to last his lifetime, plus with many left over for his children, and their children too. If you’re in your 40s or hitting this milestone soon, financial experts say you are reaching your earning peak. If you started saving in your 20s and 30s, then you are ready for some serious investing in your 40s. While a famous saying claims “Life begins at 40,” that’s certainly not true for saving. If you will only begin saving when you are 4 decades and older, you’ll have quite the catching up to do to ensure you can retire comfortably. So let’s say you did know to set aside money as soon as you started working or making an income when you were younger. When you hit your 40s, it would mean you have a comfortable pot of cash to invest. Here are some steps you can take … [Read more...] about Saving should not begin at 40
NEW YORK: US biopharmaceutical company AbbVie said on Tuesday (Jun 25) it would buy Botox-maker Allergan for about US$63 billion, moving to diversify its product line as the industry faces pressure on drug prices.The deal, the latest large transaction in pharma, broadens the product offerings for AbbVie, which has relied heavily on sales of Humira, a drug to treat rheumatoid arthritis that faces rising competition from generics.Combining operations would allow annual savings of at least US$2 billion through trimming duplicative research and development spending and cuts in sales and marketing spending, the companies said. The deal is expected to close early in 2020."This is a transformational transaction for both companies and achieves unique and complementary strategic objectives," AbbVie Chief Executive Richard Gonzalez said in a statement."With our enhanced growth platform to fuel industry-leading growth, this strategy allows us to diversify AbbVie's business while sustaining … [Read more...] about US biopharma AbbVie to buy Botox maker Allergan for US$63b
Ride-hailing is a very lucrative business in Singapore. And although there've been many players who've tried to join the fray, few of them ever had a chance against Grab and ComfortDelGro. Could GoJek - the newest contender - be the one to break up the duopoly? The Indonesia-based operator has been in Singapore for about half a year, and now has a sizeable fleet of drivers and users. Personally I'm thrilled - after all, the stiffer the competition, the better the discounts, right? Let's compare the 3 ride-hailing services and take a closer look at their pricing models and other features. Many factors can influence your ride prices - what time it is, how far away your destination is, how many drivers/riders are nearby, and even whether or not it's raining. For this price comparison, I'm using an example journey from the MoneySmart office in Commonwealth to Orchard ION at around 4pm (off-peak) on a Friday. Ride-hailing service Price for a ride from Commonwealth to Orchard ION (7.1km) … [Read more...] about GoJek vs Grab vs Comfort Taxis in Singapore
The significant advantage of a frequent flyer programme is obviously the miles. With these programs, frequent flyers receive perks such as free flights, upgrades and other travel-related perks. Luckily, there is no limit on how many programs you can join. But to get as many frequent flyer miles as you possibly can, it doesn't make sense to enrol in every single airline's programme. When selecting an frequent flyer programme, go for the airline that has the most flights out of Singapore or the one that serves the destinations you are likely to visit more often. FLY OFTEN, SAVE BIG When choosing the best airline rewards programme for you, there are three factors you should take into consideration: - How easy (or not) it is to earn a flight with your miles and rewards. - Whether you get extra perks other than flights. - Whether blackout dates apply to the programme. - How soon do the miles expire. - And, how easy it is to achieve a higher status (silver, gold, elite, etc.). WHY ARE … [Read more...] about Best frequent flyer programs in 2019: Are they still worth it?