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New tax law spurs ‘dramatic’ retreat from long-term bank savings

MANILA, Philippines — The new law ending tax breaks on long-term time deposits has triggered a “dramatic” exodus from those savings products, leaving banks and policymakers to wonder where the cash will flow next. Michael Angelo Kho Samson, who chairs the capital markets development committee of the Bankers Association of the Philippines, said member-banks had

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ADB work in Philippines to continue

MANILA, Philippines — The Asian Development Bank (ADB) said a corruption scandal involving flood control projects would not deter it from financing work in the Philippines, noting that the institution maintains “close oversight” of its investments. “You know, we’re always cautious about all our projects,” Andrew Jeffries, the bank’s country director for the Philippines, told

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SEC launches Philippine Green Equity Guidelines

MANILA, Philippines — Companies with more sustainability initiatives now have another way of attracting investors after the Securities and Exchange Commission (SEC) launched Southeast Asia’s first Green Equity Guidelines. This allows more capital flows toward businesses that champion sustainability. The corporate watchdog on Thursday released SEC Memorandum Circular No. 13 Series of 2025. The memo