METRO MANILA – The Philippine Health Insurance Corporation (PhilHealth) has announced that it had made a P500 million partial payment for the P930 milliion debt to the Philippine Red Cross (PRC) due to Covid-19 tests being conducted. According to the statement released by the state health insurer, the remaining balance would be paid according to the gov’t rules and regulations. …

METRO MANILA – The Philippine Health Insurance Corp. (PhilHealth) assured today that they will be settling the debt to the Philippine Red Cross (PRC) on Monday after receiving a legal opinion from the Department of Justice (DOJ) regarding the testing agreement between the agency and the humanitarian organization. According to statement released by Philhealth, they will release the payment on …

The Bank of Thailand leader, a growing under-employment rate led by the Covid-19 crisis would further aggravate the country’s swelling household debt and the debt-servicing woes of borrowers. Although the coronavirus outbreak has not significantly impacted the unemployment rate, the pandemic has caused an increase in underemployment due to a decrease in working hours, said Governor Sethaput Suthiwartnarueput, due to …

Thai Airways International on Monday confirmed it will further suspend international flights following the Civil Aviation Authority of Thailand’s announcement. Further prolonging its ban on inbound and outbound commercial flights until at least June 30. A resumption in July is being considered, and THAI stressed it will continue to monitor the situation with a view to recommencing commercial flights as soon as …

In a bid to ease debt-repayment burden on borrowers as well as minimise the number of non-performing loans, the central bank has come up with a new method of calculating interest.  This new method of calculating interest charged on overdue debt was enforced on May 1, Thanyanit Niyomkarn, the Bangkok of Thailand’s assistant governor, said on Friday (May 8).  She …

A major Thai coffee brand has vowed to pay about 200 farmers who were forced to take out loans while waiting nearly three years for payments due them, leaving them with spiralling debts. Doi Chaang Coffee, which has more than 50 franchises in Southeast Asia, said it would pay about 7 million baht after the Thomson Reuters Foundation revealed the …