Gobi Partners says funding raised for startups dropped this year due to corruption scandals.
The widespread corruption scandal and lapses within the Philippine government and governance practices have contributed to a 32 percent drop in funding raised for local startups, according to a report by venture capital firm Gobi Partners.Based on the Philippine Startup Ecosystem ...
For as long as political dynasties control both legislative power and private enterprises, the nation will remain trapped in a cycle of corruption and catastrophe.
My colleagues in the Ateneo Policy Center published a paper in 2022 entitled, Political dynasties, business, and poverty in the Philippines, wherein they showed that a clear majority of political families own construction companies. Today we call them "congtractors", a clever portmanteau ...
The Marcos admin has its hands full as it wages war on corruption.
The government of Philippine President Ferdinand "Bongbong" Marcos, Jr. continues to have its hands full following the uncovered anomalous contracts linked to substandard or ghost flood-control structures. The Department of National Defense (DND) is now pointing fingers at unnamed "foreign actors" ...
Is justice finally catching up to those behind these anomalous projects?
The end is nigh for the lavish and extravagant lifestyles of personalities supposedly behind the large-scale corruption in state flood mitigation projects. On Wednesday, the Anti-Money Laundering Council reported over P4 billion in frozen assets related to the flood control ...
Analysts weigh in on the issue even as Landbank insists it can't question government transactions in line with the budget.
State lender Land Bank of the Philippines is in the hot seat as Senator Francis "Kiko" Pangilinan wants it to answer questions about massive withdrawals, including one for as much as P500 million, tied to the flood control projects controversy.Pangilinan raised ...
Congress has yet another leadership change amid public outrage on corruption.
House Speaker Martin Romualdez resigned from his post on Wednesday (September 17) amidst the widening investigation into corruption linked to flood control programs. Romualdez, a cousin of President Ferdinand "Bongbong" Marcos Jr., quit his post as public outcry raged over billions of ...
Lawmakers are looking into corruption linked to flood-control projects.
As talk continues to heat up about rampant corruption within state agencies, specifically in the Department of Public Works and Highways (DPWH), President Ferdinand "Bongbong" Marcos, Jr. says there isn't a need for new funding allocations for flood-control projects next ...
The government has spent a whopping P545 billion in public funds on flood control projects since 2022.
The Department of Public Works and Highways (DPWH) is getting a new look and leader. President Ferdinand "Bongbong" Marcos, Jr. has tapped Transportation Secretary Vince Dizon to take over the agency amid the agency's dubious handling of flood control funds.On ...
Senator Bam Aquino says he also plans on filing a bill that would outlaw online gambling.
As lawmakers gear up to craft next year's national budget, Senator Paolo Benigno "Bam" Aquino says he intends to pass a bill that would create a national fund for the construction of classrooms to close the gap in the country's ...
Acting on his vow to revisit the nation's flood-control projects during his fourth address to Congress, President Ferdinand "Bongbong" Marcos, Jr. said his government is dead set on cracking down on potential corruption linked to the P100 billion contracts awarded ...
As a country lying directly on the path of the typhoon belt in the northwestern Pacific Ocean as well as the Pacific Ring of Fire, the Philippines is no stranger to natural disasters. Up to 60 percent of its land area and ...
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