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While the money sat in a Philippine government account in Switzerland, successive administration debated what to do with the funds. By 1998 the funds had grown to $570 million with interest, and were transferred to an escrow account in Philippine National Bank. In July 2003, the Supreme Court of the Philippines ruled with finality that the ...
The Priority Development Assistance Fund scam, also called the PDAF scam or the pork barrel scam, is a political scandal involving the alleged misuse by several members of the Congress of the Philippines of their Priority Development Assistance Fund (PDAF, popularly called "pork barrel"), a lump-sum discretionary fund granted to each member of Congress for spending on priority development ...
Global investment firm KKR has appointed Goldman Sachs for the sale of its significant minority stake in Philippine fintech company Maya, according to two sources with knowledge of the matter. New ...
GCash, a Philippine fintech firm, has hired banks, including Citi, Jefferies and UBS, to work on an up to $1.5 billion domestic initial public offering, three sources with knowledge of the matter ...
For this purpose, Congress allocated ₱10 billion from funds transferred to the Philippine government by virtue of the December 10, 1997, Order of the Swiss Federal Supreme Court, adjudged by the Supreme Court of the Philippines as final and executory in Republic vs. Sandiganbayan on July 15, 2003, (G.R. No. 152154) as Marcos ill-gotten wealth ...
The Senate of the Philippines was stirred in a political controversy over the use of the operating expenses of senators, known as the Maintenance and Other Operating Expenses (MOOE). A report on the Philippine Daily Inquirer on January 9, 2013, which noted that Senate President Juan Ponce Enrile authorized the release of additional operating ...
In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there were improvements in the last few years of the first decade of the 21st century. [2] The Philippine government's main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and ...
In June, Fiat CEO and Stellantis global CMO Olivier François visited the Mirafiori plant in a bid to reassure workers about their future at the company. The new Fiat 500 Ibrida is set to be built ...