Converge ICT Eyes Potential Spin-off of Fiber Business to Propel Growth
In a strategic move that may redefine its business landscape, Converge ICT Solutions Inc. is reportedly exploring the possibility of carving out its fiber internet business into a separate entity. This development comes at a time when the telecommunications sector is witnessing intensified competition and rapid technological advancements.
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GCash Eyes 10-15% Public Float in Upcoming IPO to Expand Financial Services
The Philippine fintech giant GCash has announced plans to pursue an initial public offering (IPO) that aims for a public float of 10 to 15 percent. This strategic move comes as the company seeks to capitalize on its rapid growth and further solidify its position in the Southeast Asian financial services market.
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Philippines Launches Investigation into Massive Network of Alleged Chinese Spies
The Philippine government has initiated a far-reaching investigation into a suspected network of hundreds of Chinese individuals allegedly engaged in espionage activities within the country. This revelation has raised concerns regarding national security and foreign influence, prompting the government to scrutinize the activities of these suspected operatives.
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Understanding the FATF's Role in the Philippines' Fight Against Money Laundering
The Philippines has recently come under scrutiny following investigations by the Financial Action Task Force (FATF), an international body focused on combating money laundering and terrorist financing. This task force, established in 1989, works to develop policies aimed at protecting the global financial system from abuse. It plays a vital role in setting the standards for combating these forms of financial crime, and its findings can significantly impact member nations, including the Philippines.
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Philippine Fintech Giant Gears Up for Major IPO as It Selects Underwriters
In a significant move for the Philippine financial technology sector, the country's largest fintech company is preparing to launch its initial public offering (IPO) and has reportedly chosen leading banks to facilitate this crucial financial milestone. This anticipated IPO marks a pivotal moment for the fintech landscape in the Philippines, indicating robust growth and heightened investor interest in technology-driven financial solutions.
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Chinese Hackers Launch Bold Cyber Attack on Philippine President to Obtain Military Data
In a striking development, Chinese hackers have reportedly executed a coordinated cyber attack aimed at extracting sensitive military data from the office of the Philippine President. This breach underscores the escalating cybersecurity concerns faced by nations in Southeast Asia, particularly given the geopolitical tensions in the region.
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Philippines Aims to Broaden Bond Market with Ambitious $9 Billion Debt Offering
In a significant move to strengthen its financial market, the Philippine government is working to expand its bond offerings by introducing a substantial $9 billion debt sale. This initiative is part of a broader strategy intended to enhance the country’s fiscal position and attract more local and international investors to its growing market.
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Philippines to Enhance Fintech Oversight Following Major E-Wallet Service Disruption
The Philippines plans to strengthen its regulatory framework for financial technology (fintech), particularly after a significant disruption in the electronic wallet service GCash. This incident, reported as one of the largest outages to hit the platform, raised concerns regarding the resiliency and oversight of digital finance systems in the country. GCash, which is widely used across the Philippines for various transactions, experienced a glitch that left many users unable to access funds or complete transactions, resulting in public outcry and calls for improved security measures.
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Macquarie Explores Potential Sale of Philippines Telco Tower Business
In a significant development in the telecommunications infrastructure market, Macquarie Group is reportedly considering the sale of its telecommunications tower operations in the Philippines. This potential divestiture reflects broader trends in the rapidly evolving telecom sector, where the demand for efficient infrastructure management continues to grow.
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Philippines Imposes 12% Value-Added Tax on Netflix, HBO Services
The Philippines is going to impose a 12% Value-Added Tax on streaming services, such as Netflix and HBO. This is part of the broader move by the government in capturing taxes from such digital services that have seen a rise in their consumption throughout the COVID-19 pandemic.
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