Business News
UnionBank and Mercury Drug have introduced the UnionBank Mercury Credit Card, promoting health and wellness rewards. Launched on October 18, 2024, the card offers 5X rewards points on health-related purchases, no annual fees, and health perks. This initiative reflects both companies’ commitment to improving Filipinos’ health and financial well-being.
The Q3 2024 Senior Bank Loan Officers’ Survey indicated that most banks maintained credit standards for both business and household loans. However, a net tightening in credit standards was observed due to deteriorating borrower profiles and reduced bank profitability. Expectations for Q4 suggest steady loan standards amidst anticipated increases in demand for both sectors.
Globe has restored services in several provinces affected by tropical storm Kristine and is making progress in other areas. As of October 25, 2024, full restoration has occurred in Camarines Norte, Oriental Mindoro, and several others, while efforts continue in Southern Luzon. Globe is providing free communication services to support recovery.
Tropical Storm Kristine impacted the Philippines, prompting Meralco to mobilize line crews for power restoration amidst strong winds and floods. Affected customers reduced from 566,000 to approximately 360,000, primarily in Cavite, Laguna, and Batangas. Meralco is preparing for Tropical Depression Leon and is distributing relief packs for storm victims.
The Social Security System (SSS) is offering salary and pension loans to members and pensioners affected by Tropical Storm Kristine for home rehabilitation and essential needs. Eligible applicants include employed and self-employed members with specific contribution requirements. Pensioners can apply for loans based on their monthly pension, with various repayment terms and conditions.
As the holiday season nears, TikTok Shop is launching the 11.11 Paskong Panalo Sale from November 5-11, offering discounts and free shipping to enhance holiday shopping. This initiative supports local businesses and promotes smart consumer habits. TikTok Shop aims to create a festive and engaging shopping experience while empowering sellers.
Metrobank received the Gold Stevie at the 2024 International Business Awards for its ‘Grow With Metrobank’ campaign, highlighting customer growth stories through engaging videos. Recognized for its culture of care and customer-first approach, the campaign underscores the bank’s commitment to both clients and employees, reinforcing its brand image as a reliable financial partner.
The Bureau of Customs (BOC) met with Congresswoman Marissa Magsino to discuss abandoned balikbayan boxes amidst issues with consolidators. The BOC has distributed over 11,000 boxes since 2022 and is processing 4,000 more. Legislative measures aim to ensure proper handling and accountability, addressing fraudulent practices affecting Overseas Filipino Workers.
Globe is restoring services in Visayas affected by Severe Tropical Storm Kristine, which caused power-related outages in less than 6% of its sites. Restoration efforts will also begin in Luzon once conditions improve. Globe is providing communication support and encourages customers to donate Globe Rewards for relief initiatives.
Ascott China and Jin Jiang Hotels announced a partnership during the 2024 ITB Asia event, marking Ascott’s 40th anniversary. This collaboration will launch TULIP LODJ and expand Quest’s presence in China’s upscale apartment hotel market, managing properties in Wuhan and Shenzhen. Leveraging both brands’ strengths aims to enhance brand influence and guest experiences.