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MANILA, Philippines - Leisure and Resorts World Corp. saw its first half income nearly halved to P362 million, down 40 percent year-on-year.
MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) yesterday said banks and covered persons found to have engaged in money laundering face stiffer sanctions and higher fines under the revised implementing rules and regulations adopted by the Anti-Money Laundering Council (AMLC).
MANILA, Philippines - Rizal Commercial Banking Corp. (RCBC) slipped 10 percent in the first half due to higher expenses.
Commission on Elections (Comelec) Chair Andy Bautista has asked his estranged wife Patricia to stop “this media circus” as their children are being affected by their public quarrel.
The Philippines escaped action to be meted by the regional watchdog guarding against dirty money transactions after casinos were placed under the coverage of the anti-money laundering law.
His wife’s allegation that he amassed P1 billion in ill-gotten wealth was part of her attempt to “extort” from him, Commission on Elections (Comelec) Chair Andres Bautista said on Sunday.
After meeting with President Rodrigo Duterte, the wife of Commission on Elections Chair Andres Bautista submitted last week to the National Bureau of Investigation an affidavit, saying that the Comelec chief might have amassed nearly P1 billion worth of ill-gotten wealth.
For someone supposed to be laundering millions of dollars in stolen funds, with investigators from three countries scrambling to track the money, Ding Zhize was a surprisingly unhurried man. He’d brought a dozen or so high rollers from China to play in the glitzy VIP room in MetroManila’s Solaire casino. The game was baccarat. It was late February 2016—still high season for Asian casinos, thanks to the Lunar New Year holiday—and Ding had been here for days.
MANILA, Philippines - Leisure and Resorts World Corp. (LRWC), the listed gaming company founded by Negros Occidental Rep. Alfredo “Albee” Benitez, has lost around 60 online gaming companies under its First Cagayan Leisure and Resort Corp. in Cagayan since Pagcor tightened the noose on the industry.
MANILA, Philippines - Mergers and acquisitions, as in the previous years, are expected to continue this year even as interest rates are expected to rise, along with the trend in the global interest rate environment.
MANILA — The inclusion of casinos in the coverage of the anti-money laundering law will help strengthen the fight against illicit cash inflows, according to Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla Jr..
MANILA, Philippines - Family-owned BDO Unibank Inc., Metropolitan Bank & Trust Co. and Bank of the Philippine Islands continued to dominate the banking industry in terms of assets, capital, deposits and loans in the first quarter of the year.
MANILA, Philippines - The Center for Global Best Practices (a BSP-accredited training provider) is holding a special program titled “Best Practices Guide to Compliance with the Anti-Money Laundering Law and Its IRR” on Aug. 24, 2017 at the EDSA Shangri-La Hotel, Mandaluyong City.
The congressman whose wife died in the Resorts World Manila attack broke his silence on Thursday to explain his absence at the just-concluded House inquiry into the June 2 incident and to express his sorrow over his loss.
MANILA, Philippines - A member of the country’s Anti-Money Laundering Council (AMLC) said the P5- million threshold for casinos is too high and should be lowered to cover more suspicious transactions.
A hat trick for Inquirer’s Raffy Lerma with his third win for his now iconic photo “Lamentation”
MANILA, Philippines - The House of Representatives has approved on third and final reading a bill including casinos in the coverage of the Anti-Money Laundering Law (AMLA).
Based on its information sheet submitted to the Philippine Stock Exchange (PSE), RCBC prepaid the balance of P500 million this month ahead of the August deadline. File
Multiple industry sources said China Bank has initiated merger talks with the Yuchengco-owned RCBC – the bank used as a conduit for the $81-million fund hacked from Bangladesh Bank to Philippine casinos last year – but nothing has been finalized yet. File
MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has taken a proactive stance to arm Philippine banks with the necessary tools to address the increasing level of cyberattacks that continue to confront the global as well as local financial communities.
The Supreme Court (SC) had directed Agrarian Reform Secretary Rafael Mariano and a group of farmers to explain why they should not be held in contempt for failing to distribute 4,900 hectares of farmlands in Hacienda Luisita in Tarlac City.
The Supreme Court has ordered the Department of Agrarian Reform (DAR) and the farmers’ group Alyansa ng mga Manggagawang Bukid sa Hacienda Luisita (Ambala) to show cause why they should not be cited in contempt of court for disobeying its 2011 and 2012 resolutions on the distribution of Cojuangco-owned sugar estate Hacienda Luisita to thousands of its farm worker beneficiaries (FWBs).
MANILA, Philippines - The share price of Rizal Commercial Banking Corp. (RCBC) has been steadily climbing for three weeks now on speculation the bank may finally be put on the auction block following the demise of its founding chairman, banking taipan and former ambassador Alfonso Yuchengco on April 15.
RCBC branch at Jupiter St., Makati City ( File photo by RAFFY LERMA / Philippine Daily inquirer)
MANILA, Philippines - An economist and an investment banker are top candidates to the central bank’s Monetary Board as the search for the new governor of the Bangko Sentral ng Pilipinas (BSP) continues to heat up.