Finance
Philippine finance app allows transfers from US banks to GCash accounts
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GCash, the Philippines’ leading finance app and largest cashless ecosystem, brought the spirit of Filipino independence to overseas communities this month. From the vibrant streets of New York City to the sun-kissed shores of California and the cosmopolitan hub of Dubai, GCash connected with Filipino communities to celebrate a mutual heritage and foster stronger ties with the Philippines.
GCash took part in Philippine Independence Day celebrations in New York City, California and Dubai, where it shared important new developments that aim to make digital financial services more accessible and efficient for Filipinos living and working outside their home country.
“At GCash, when we say that ‘finance for all’ is our vision, it means we are driven to go beyond the Philippines and reach as many Filipinos as we can around the globe,” says Paul Albano, general manager, GCash International. “We are honoured to join our community in this distinctly Filipino celebration, and we’re eager to share all the ways GCash has been continuously innovating and enhancing our services to meet the needs of our kababayan [fellow Filipinos] overseas.”
As GCash continues to expand its reach, Filipinos worldwide can look forward to more responsive services, greater financial empowerment and connectivity – bridging the gap between continents and reinforcing the bonds of community and culture.
Coast-to-coast celebrations
This year’s Philippine Independence Day celebrations in the US – marking 126 years of liberation – included a June 2 parade in New York City – the largest outside the Philippines. The Philippine Independence Day Council Inc. (PIDCI), a non-profit umbrella organisation of the National Federation of Filipino-American Associations up and down the US East Coast, hosted the event. Now in its 34th year, the parade has grown to become an annual celebration of Filipino culture and a display of national pride, strengthening familial and community ties.
At a booth set up during a street fair in New York City celebrating independence, GCash showcased its partnerships with financial institutions such as Meridian, an instant payment technology company headquartered in New York. The collaboration effectively synergises US-based financial services and the mobile wallets that have become part of daily life across the Philippines.
On June 8, over on the US West Coast, the city of Carson, California held a day of festivities for its own Philippine Independence Day celebrations. The community event, held at Veterans Park, featured food booths, a parade and cultural presentations – all showcasing Filipino culture, as well as offering individuals the opportunity to come together with family and friends.
GCash also set up booths to share the latest updates about its financial services, including its international expansion and its position as a seamless digital financial solution for Filipinos overseas. The app is now available for download in the US using a US mobile phone number. Cashing in and sending money have been made easier and more convenient through direct cash-ins.
Collaboration enables international transfers
GCash’s partnership with Meridian has enabled the direct in-app transfer of American-based user funds from more than 12,000 banks to GCash accounts. Upon cash-ins, which come with a US$1 fee per transaction, the service automatically converts dollar amounts into Philippine pesos, with competitive foreign exchange rates.
“At GCash, we want to help with the most important thing for our countrymen abroad: how they can care for their families and maintain connections with their loved ones despite the distance,” Albano says. “With GCash’s international expansion, this is exactly what we are doing. We’re making it possible for Filipinos overseas to take better control of their finances, and sending money to the Philippines is more convenient with our competitive rates.”
Celebrating Philippine-UAE partnerships
In the United Arab Emirates (UAE), the Filipino community gathered at the Independence Day celebrations held at the Dubai World Trade Centre. The event, which featured cultural presentations and tributes to Filipino traditions, celebrated the continuous contributions of overseas Filipinos towards nation-building efforts between the two countries. It also honoured 50 years of diplomatic relations between the UAE and the Philippines.
At the event’s bazaar, GCash showcased its global expansion efforts to Filipinos who have made a second home in the UAE, sharing its latest innovations that aim to empower members of the Filipino community working overseas by giving them more control of their finances via the app.
International expansion to reach millions of Filipinos overseas
GCash announced in March that it has expanded its international reach and fully launched its global push following approval from the Bangko Sentral ng Pilipinas, the central bank of the Philippines, in 14 territories. Users in the US, Canada, Italy, the UK, Australia, Japan, the UAE, Qatar, South Korea, Taiwan, Hong Kong, Spain, Germany and Singapore can now use international mobile numbers to sign up for the GCash app. Approval for Kuwait and Saudi Arabia is expected to follow in the second half of this year.
With its expansion outside the Philippines, GCash is able to serve and empower more Filipinos, wherever they may be based. In addition to free real-time money transfers between GCash wallets for convenient access to funds, as well as the ability to buy prepaid credits for loved ones back home, GCash users abroad can now directly pay their bills, including utilities, tuition fees and government bills such as taxes, as well as making payments to more than 1,900 Philippine merchants.
To access GCash outside the Philippines, users with an active international SIM card can download the app from Google Play, App Store or Huawei AppGallery.
Finance
Ukraine has a month to avoid default
War is still exacting a heavy toll on Ukraine’s economy. The country’s GDP is a quarter smaller than on the eve of Vladimir Putin’s invasion, the central bank is tearing through foreign reserves and Russia’s recent attacks on critical infrastructure have depressed growth forecasts. “Strong armies,” warned Sergii Marchenko, Ukraine’s finance minister, on June 17th, “must be underpinned by strong economies.”
Following American lawmakers’ decision in April to belatedly approve a funding package worth $60bn, Ukraine is not about to run out of weapons. In time, the state’s finances will also be bolstered by G7 plans, announced on June 13th, to use Russian central-bank assets frozen in Western financial institutions to lend another $50bn. The problem is that Ukraine faces a cash crunch—and soon.
Finance
Florida Tech Names Kimberly Williams New Vice President for Administration, Chief Financial Officer – Space Coast Daily
will start at Florida Tech on July 8
BREVARD COUNTY • MELBOURNE, FLORIDA – Kimberly D. Williams, who has more than 20 years of experience in finance, higher education, and law, has been named Florida Tech’s vice president of administration and finance and chief financial officer.
Williams most recently served as the vice president for business affairs, CFO and treasurer at the University of Findlay in Ohio. She will start at Florida Tech on July 8.
“The campus community feedback received when Kim visited us was overwhelmingly positive,” President John Nicklow wrote in an email to the university announcing her hire. “I’m confident that she has the skill set to help move our university forward, together.”
Williams graduated from Fayetteville State University with a bachelor’s degree in accounting and earned an MBA from Western Kentucky University. She received her Juris Doctor from the University of Arkansas School of Law.
She served as a civil litigation attorney in Missouri for five years before becoming chief financial officer and corporate counsel for a global, consolidated corporation in the aviation industry.
There, she oversaw the company’s overall financial health and gave project oversight across several fields as a strategic leader.
In 2016 Williams entered higher education, becoming business manager and director of business services for the University of Arkansas. After two years at UA, she was named assistant vice president for administrative and business services at Middle Tennessee State University.
As the senior administrator, she supported the department’s mission to provide effective and innovative business and administrative services to enrich learning and academic excellence on campus.
Williams stayed in Tennessee until 2022, when she became the vice president for business affairs, CFO and treasurer at University of Findlay in Findlay, Ohio. There, she oversaw all matters related to the financial management of the university, serving as the primary steward of its financial and physical resources.
Williams is a member of several professional associations, including the National Association of College and University Business Officers, the Council of Independent Colleges, the Association of Independent Colleges and Universities of Ohio, the Ohio Association of College and Business Officers and the National Association of Educational Procurement.
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Finance
World Bank OKs $1.5 billion financing for green H2 projects in India | India News – Times of India
The programme will support reforms to boost the production of green hydrogen and electrolyzers.It also supports reforms to boost renewable energy penetration, for instance, by incentivising battery energy storage solutions and amending the Indian Electricity Grid Code to improve renewable energy integration into the grid. The financing includes a $1.46 billion loan from International Bank for Reconstruction and Development (IBRD) and a $31.5 million credit from International Development Association (IDA).
“The World Bank is pleased to continue supporting India’s low-carbon development strategy which will help achieve the country’s net-zero target while creating clean energy jobs in the private sector,” said Auguste Tano Kouame, World Bank Country Director for India.
The reforms are expected to result in the production of at least 450,000 metric tonne of green hydrogen and 1,500 MW of electrolyzers per year from FY25/26 onwards. It will also help to increase renewable energy capacity and support reductions in emissions by 50 million tonne per year.
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