Tonik Digital Bank Shakes Up the Philippines

Melita BreenPress Releases

In the bustling streets of Manila, a new banking sensation is sweeping through – Tonik Digital Bank. With a charming greeting, “Your traditional banking ends here. Your neobanking romance starts now,” Tonik is not just a bank; it’s a love affair with finance. Goodbye old bank, hello higher interest rates and a pet name – “luv.” Since its grand entrance …

As our planet heats up, investors warm up to climate tech

Melita BreenPress Releases

JAKARTA — 2023 was the hottest year on record, bringing extreme weather events and crippling economic losses. Green and climate tech investments and fundraising also gained momentum, bolstered by an urgent need to adopt sustainable practices. This has heralded a new era of climate-conscious investments. In Southeast Asia — a region particularly vulnerable to climate change due to its long …

Digital Banking Surge in the Philippines: Fintechs and Traditional Banks Vie for Dominance

Melita BreenPress Releases

MANILA — Traditional lenders and fintech startups in the Philippines are competing for a foothold in the emerging digital banking industry propelled by the spread of smartphones. Leading bank Rizal Commercial Banking Corp. (RCBC) prides itself on being “the most digital bank” in the Philippines that offers a wide range of digital financial services, President and CEO Eugene Acevedo told …

Marubeni Growth Capital Asia invests in Vietnam food firm AIG

Melita BreenPress Releases

Move comes amid expanding Southeast Asian food sector HANOI — Marubeni Growth Capital Asia (MGCA), the Singapore-based investment arm of Japanese conglomerate Marubeni Corporation, has acquired a significant minority stake in Vietnamese food ingredients and packaged food producer AIG Asia Ingredients Corporation. Financial terms were not disclosed, but MGCA says on its website that it typically writes checks ranging from …

Philippine economy picks up, growing by 5.9% in Q3 2023

Melita BreenPress Releases

(1st UPDATE) For January-September 2023, gross domestic product growth is at 5.5%, remaining below the government’s full-year target of 6% to 7% MANILA, Philippines – The economy grew by a higher-than-expected 5.9% in the third quarter despite elevated prices of goods, the Philippine Statistics Authority said on Thursday, November 9. Gross domestic product (GDP) growth rebounded in the third quarter …

Philippines Expected to Lead ASEAN as Fastest-Growing Economy, Despite Anticipated Slowdown

Melita BreenPress Releases

According to a report from Malaysian banking giant Maybank, the Philippines is poised to become the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN), despite an anticipated slowdown in the coming two years. Maybank projects that the Philippines’ gross domestic product (GDP) growth may dip to 5.2 percent this year before rebounding to 6.5 percent next year. This …

Flower Sellers in Hanoi Prosper by Offering Bouquet Rentals for Photo Opportunities

Melita BreenPress Releases

Flower vendors in Hanoi, Vietnam, known for their bicycles loaded with colorful blossoms, are diversifying their business by offering tourists the option to rent their bouquets for social media-worthy photos. Phan Dinh Phung street in Hanoi’s Old Quarter, adorned with French-style buildings, has become a popular destination for tourists, many of whom are drawn to the area for its aesthetic …

Vietnam’s Bid to Challenge China’s Rare Earths Dominance

Melita BreenPress Releases

Vietnam is gearing up to revive its largest rare-earths mine in the coming year through a Western-backed initiative, potentially competing with the world’s leading producers. This move is part of Vietnam’s broader strategy to reduce China’s stranglehold on the sector critical for advanced technologies like electric vehicles, smartphones, and wind turbines. As an initial step, Vietnam’s government plans to initiate …