By Rose de la Cruz

The expansion in the domestic economy and positive outlook of the industry players have caused the soundness and stability of the country’s financial system in the first half of 2019.

The Bangko Sentral said the sustained growth in assets, loans and deposits and capital that was evident across banking groups are evidence of the stability of the system.

The universal and commercial banks (UKBs) channeled resources mostly to loans and investments in line with the country’s improving macroeconomic environment, business climate and consumer sentiment. Meanwhile, thrift banks (TBs), and…

Read more: Financial system is sound and stable, BSP

By Rose de la Cruz

The Department of Finance and the National Economic and Development Authority were asked to fully account for the $500 million World Bank loan for disaster management following the 6.5 magnitude earthquake that rattled Mindanao last week.

Rep. Bernadette Herrera said "given the widespread damage from this month's earthquakes in Mindanao, it is proper for us in Congress to ask the National Economic and Development Authority (NEDA) and the Department of Finance (DOF) to fully account for the $500-million World Bank  “Disaster Risk Management Development Policy Loan” to the Philippines” obtained…

Read more: NEDA, DOF asked to account for disaster management loan from WB

By Rose de la Cruz

Agusan del Norte (1st district) Rep. Lawrence Fortun, is pushing for a permanent “no build” danger zone in quake-prone Mindanao and to suspend mining activities to ensure the safety of miners.

In authoring HB 2451 (an act creating the Department of Disaster Resilience) Fortun stressed that “disaster adaptation and mitigation includes, among other things, identifying no-build zones in or adjacent to  earthquake fault lines where construction of houses and other buildings shall be banned or very strictly regulated to prevent and minimize loss of lives and damage to property.”

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Read more: Permanent ‘no-build’ danger zones pushed

By Rose de la Cruz

The world is rapidly moving towards increased digitalization and mobility of services, with many industries and households relying strongly on automatization and the use of robotic systems.

Studies estimate that robots will become the norm for wealthy households by 2040. Currently, most of these robotic systems are at the academic research stage and it is too early to discuss how to incorporate cybersecurity measures.

However, research by Kaspersky and Ghent University has found a new and unexpected dimension of risk associated with robotics – the social impact it has on…

Read more: Robots to be common in wealthy homes by 2040