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BSP caps bank cash withdrawals at P500,000 to curb laundering

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) ordered banks to limit over-the-counter cash withdrawals to P500,000 a day. This is part of efforts to reduce money laundering risks tied to large-value transactions. This developed as the BSP investigated bank accounts linked to individuals accused of anomalies in government flood control projects. The central

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UBG Oil Ventures expande presença global atuando como fornecedora-chave para grandes empresas de EPC nos segmentos de petróleo e gás, mineração e indústria

SHERIDAN, Wyoming–(BUSINESS WIRE)–A UBG Oil Ventures, uma empresa líder em gerenciamento de projetos e principal fornecedora de equipamentos para grandes empresas de EPC (Engenharia, Aquisição e Construção), anunciou hoje uma expansão estratégica para os Estados Unidos e América Latina. Esta mudança potencializa a capacidade da empresa de oferecer suporte a projetos de grande escala na América do Norte e do Sul. Diante da crescente demanda por serviços de gerenciamento de projetos, equipament

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Volkswagen pulls out of Philippine automotive market

MANILA, Philippines — The Ayala group’s Automobile Central Enterprise Inc. (ACEI) has come into an agreement with Volkswagen AG to end the distribution of the German brand’s vehicles in the Philippines. ACEI, the exclusive distributor of Volkswagen vehicles in the country, said in a notice to customers that, considering this, Volkswagen BGC would continue its