Latest news with #Philippines-based
Yahoo
4 days ago
- Business
- Yahoo
Fintech firm Salmon completes $88m fundraise
Philippines-based financial services firm Salmon Group has raised $88m to expand its business in the Asian country. The funding includes a $60m drawdown from a three-year Nordic bond framework agreement valued at $150m, alongside $28m in new equity sourced from US institutional investors and existing shareholders. The equity round was spearheaded by Spice Expeditions, a venture capital firm established by Nick Huber. Investors include the International Finance Corporation, Abu Dhabi's sovereign wealth fund ADQ/Lunate, Northstar, Back in Black Capital, and various Filipino stakeholders. Salmon co-founder Pavel Fedorov said: 'Salmon is on a mission to revolutionise banking in Southeast Asia. For too long the legacy banks in the region provided sub-standard product, service and customer experience, and the Philippines is the case in point of this. 'At Salmon, we believe in the quality of our technology and proprietary AI solutions to bring customers better products, of which the most empowering is access to credit. In 2024, Salmon obtained regulatory approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) to acquire a controlling interest in the Rural Bank of Sta. Rosa (Laguna). Founded in July 2022 by industry professionals Fedorov, George Chesakov, and Raffy Montemayor, Salmon Group holds SEC licences for its lending companies in the Philippines. The firm aims to establish a technology-driven, credit-focused banking model in Southeast Asia, with the Philippines as its initial market. Founded in July 2022, Salmon leverages AI technology and a proprietary credit engine to provide various consumer credit products, including Salmon Credit, Salmon Installment, and Salmon Cash Loans. Last year, Salmon's BSP-regulated bank on the back of the strength of its consumer loan portfolio introduced a Salmon time savings deposit, offering 8.88% deposit rate in the Philippines. "Fintech firm Salmon completes $88m fundraise" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Barnama
11-06-2025
- Business
- Barnama
IRRI Calls For Collective Action As Rice Faces Mounting Global Pressures
Farmers continue to face multiple challenges to produce the much sought-after rice in the world. Photo credit: IRRI, Philippines. By Vijian Paramasivam PHNOM PENH, June 11 (Bernama) -- The International Rice Research Institute (IRRI) is urging rice-producing nations to take bold, collective action to address the growing environmental and sustainability challenges in rice cultivation, a staple crop that remains essential to millions worldwide. Unveiling its 2025-2030 strategy on Monday, the Philippines-based institute said despite advancements, rice cultivation still accounts for 1.5 per cent of global greenhouse gas emissions and consumes 30 per cent of the world's freshwater resources. bootstrap slideshow 'Rice feeds more than half the world's population, but its potential as a climate and development solution remains underleveraged. Our future depends on how we grow, consume and govern rice. 'This strategy is our call to partners everywhere—let's act together, with urgency and ambition, to ensure rice remains a force for good in a changing world,' said IRRI Director General Dr Yvonne Pinto. The new vision comes at a time when farmers worldwide are facing a host of challenges, including the impacts of climate change, the loss of fertile land to rapid urbanisation, concerns over food safety, and increasing water scarcity. According to IRRI, rice feeds over four billion people and supports 150 million farmers across 100 countries. The RM1.4 trillion (US$332 billion) rice industry is the world's third most traded commodity and a growing global market. IRRI's strategy seeks to tackle pressing global issues ranging from food price volatility and climate-related pressures to health disparities and social inequalities within rice-growing communities. Jagdish Kumar Ladha, Adjunct Professor at the Department of Plant Sciences, University of California, told Bernama that IRRI's strategy comes at a critical stage for rice-producing nations across Asia.
Nikkei Asia
11-06-2025
- Politics
- Nikkei Asia
It's time for a collective defense alliance in the Western Pacific
Don McLain Gill is a Philippines-based geopolitical analyst, author and lecturer at the department of international studies, De La Salle University. In a May 27 article in Foreign Policy, former U.S. Assistant Secretary of Defense Ely Ratner suggested the creation of a "Pacific Defense Pact" between the U.S., Japan, the Philippines and Australia. He argued that such an alliance would be crucial given the threat China poses to the security architecture of the Western Pacific -- and for the Philippines, such an arrangement would benefit its long-term security interest.
06-06-2025
Philippines Detains Leader of "JP Dragon" Crime Ring
Newsfrom Japan Fukuoka, June 6 (Jiji Press)--The Philippines' Bureau of Immigration has detained Ryuji Yoshioka, 55, leader of the "JP Dragon" crime ring based in the Southeast Asian country, investigative sources said Friday. The crime organization, including former Japanese gangsters, allegedly worked with another Philippines-based fraud group led by Kiyoto Imamura, 41. Imamura, who is believed to have instructed perpetrators in robbery cases in Japan often calling himself "Luffy," has been charged with robbery resulting in death. According to the investigative sources, Yoshioka was taken into custody on the northwestern Philippine island of Luzon on Wednesday. The Fukuoka prefectural police obtained a warrant to arrest him on suspicion of theft, over his involvement in a fraud case in which a cash card was stolen from a Japanese national in June 2023 through a call pretended to be from a police officer. [Copyright The Jiji Press, Ltd.]
06-06-2025
Philippines Detains Leader of JP Dragon Crime Ring
News from Japan Jun 6, 2025 17:51 (JST) Fukuoka, June 6 (Jiji Press)--The Philippines' Bureau of Immigration has detained Ryuji Yoshioka, 55, leader of the "JP Dragon" crime ring based in the Southeast Asian country, investigative sources said Friday. The crime organization, including former Japanese gangsters, allegedly worked with another Philippines-based fraud group led by Kiyoto Imamura, 41. Imamura, who is believed to have instructed perpetrators in robbery cases in Japan often calling himself "Luffy," has been charged with robbery resulting in death. According to the investigative sources, Yoshioka was taken into custody on the northwestern Philippine island of Luzon on Wednesday. The Fukuoka prefectural police obtained a warrant to arrest him on suspicion of theft, over his involvement in a fraud case in which a cash card was stolen from a Japanese national in June 2023 through a call pretended to be from a police officer. [Copyright The Jiji Press, Ltd.] Jiji Press
