TODAY'S BUSINESS HEADLINES

Over 100 cruise calls scheduled to dock in PHL this year – DOT 13-Jan-17, 11:24 PM | Philippines News Agency

China posts worst export fall since 2009 as fears of US trade war loom 13-Jan-17, 10:31 PM | Elias Gleen and Sue-lin Wong, Reuters

CONSUMER POWER OUTLOOK | Record low rates in January, spike in March 13-Jan-17, 2:38 PM | Gerard de la Peña, Bloomberg TV Philippines | Ernie Reyes, InterAksyon.com

We'll pay for medical bills of Bataan folk near coal plant, even if it's 'galis aso' - SMC's Ang 12-Jan-17, 2:56 PM | Shyla Francisco, Bloomberg TV Philippines

PHP up, PSEi down on investors disappointment on Trump's presscon 13-Jan-17, 12:33 AM | Philippines News Agency

WATCH | Banks '90% ready' to implement new ATM card system - BSP

InterAksyon.com means BUSINESS

MANILA, Philippines -- The country’s banks are “more than 90 percent prepared” to implement the new system that will replace magnetic strip automated teller machine, or ATM, cards with electronic chip cards, the Bangko Sentral ng Pilipinas said.

Banks are expected to begin implementing the new system from January 1, although BSP assistant governor Johnny Ravalo said some glitches are to be expected because “imagine you're changing not only the cards, you're changing all the (card) readers, you’re changing all the machines, so it's a massive effort.”

Electronic chip cards are supposed to be safer than magnetic strip cards because the data they contain is much harder for thieves to copy.

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