Material innovations center opens

TO HELP players in the creative sector in their research and development (R&D), the European Chamber of Commerce of the Philippines (ECCP) opened the Materials Innovation Center (Matic) in the Department of Science and Technology (DOST) complex in Banilad, Cebu City.

The program is in line with the chamber’s Materials R+D Program, which is envisioned to promote creativity and competitiveness in the design industries through the manipulation of new materials, reinvention of designs, innovation of indigenous materials and the use of efficient technology.

Germany ‘needs 250,000 nurses’

ABOUT 250,000 nurses are needed in Germany in the next five years but Filipino nurses could miss the opportunity without the participation of recruitment agencies, an official said.

Keep it real, developers

REAL ESTATE owners and developers will be compelled to reexamine their advertisements with the Housing and Land Use Regulatory Board’s (HLURB) new guidelines on advertisements.

The HLURB, in Resolution 921, revised its implementing rules on advertising subdivision and condominium projects. The practice is governed by Presidential Decree 957, as well as the “2014 Guidelines on Advertisements” recently issued by the agency.

Grand Land launches 5 projects in 3 years

IN LESS than three years since the Gaisano Grand Group’s real estate arm was established, Grand Land Inc. has already launched five projects with 4,300 houses and condominium units combined upon completion.

This include its flagship project Grand Residences in Banilad in Cebu City, Amani Grand Mactan in Lapu Lapu City, and City Homes Mactan, Mandaue, and Minglanilla.

Globe unveils plans for entrepreneurs

GLOBE Telecom’s SME arm, Globe myBusiness, is eyeing to grow its customer base composed of small and medium enterprises with the launching of a new customizable suite of postpaid plans for entrepreneurs.

In a press conference with Globe officials, the Ayala-led telco recently introduced to the market Plan299, which allows business owners to get a free Duo landline with unlimited calls to local landline and Duo customers nationwide.

Security Bank seeks to grow retail banking

FROM accounting for five-percent of revenues, publicly-listed Security Bank Corp is targeting to grow retail banking to make up about 30 percent of the company’s earnings in 2017.

That was according to its president and chief executive officer Alberto S. Villarosa during the inauguration of the five Security Bank branches in Cebu held at the Waterfront Cebu City Hotel and Casino.

New mall, towers in IT Park

PROPERTY developer Ayala Land Inc. will invest around P8 billion for a 2.2-hectare mixed-use project inside its own development, the 24-hectare Cebu IT Park in Lahug.

Insurer sets up online store

THE Philippine AXA Life Insurance Corp. (AXA Philippines) recently began to offer insurance products online through AXA Insurance Online or AXA iON.

Officially launched in September 2014, AXA iON offers four products: Health eXentials, Savings eXentials, Academic eXentials, and Life eXentials, with premiums starting at P1,000 per month and benefits that can go as high as P5 million.

Microinsurance provider pays up to P695 million in claims in 2014

WITH microinsurance being one of the government’s thrust for financial inclusion, one of the pioneering mutual benefit associations (MBA) in the country reported that it has insured 10.9 million Filipinos as of February, holding the biggest number of insured individuals in the microinsurance industry to date.

The Center for Agriculture and Rural Development MBA (Card-MBA), the insurance arm of Card Mutually Reinforcing Institutions (Card-MRI), said in a statement that claims reached P695 million in 2014.

Bank lending to SMEs ‘still low’

SMALL and medium enterprises in the Philippines still can’t rely on banks to expand their businesses, according to a recent study by the Asian Development Bank Institute (ADBI).

The paper “Why Do SMEs Not Borrow More from Banks? Evidence from the People’s Republic of China and Southeast Asia” said that over 70 percent of funds spent by SMEs in the Philippines were internally generated.