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Makati City
Tuesday, April 25, 2017
Senate leaders, insisting on retaining adequate safeguards, are not rushing to heed the call of Finance Secretary Carlos G. Dominguez III for Congress to amend deposit-secrecy restrictions as precondition to an amnesty program for delinquent taxpayers. The chairman of the Senate Banks Committee, however, is receptive to Dominguez’s pitch, as he...
First Gen Power Corp., through its wholly-owned subsidiary First Gas Power Corp., signed a $500-million loan package with banks to repay debts. In a disclosure to the stock exchange, the Lopez-led firm said proceeds from the loan would be used to repay obligations due on First Gas’s maturing debts of...
A ranking prelate of the Church suggested that, instead of putting on gloomy faces during Lent and the rest of the year, we all wear joyful smiles and put on an attitude in line with the Holy Father’s desire for us to undertake lives full of mercy and compassion....
The Philippines will not do an Indonesia, whose tax authorities and their offer of amnesty for the tax delinquent delivered more than $330 billion worth of taxable assets for the region’s largest economy, the Department of Finance (DOF) said on Monday. Finance Secretary Carlos G. Dominguez III ruled out such...
The Bureau of the Treasury (BTr) sold all P15 billion worth of Treasury bills (T-bills) at the auction on Monday on the basis of a very liquid market and its preference for short-dated IOUs. “I think the auction was successful. The total bids amounted to more than double the amount...
The man who could be the next central bank governor has been out of most everyone’s radar, except, perhaps, by the main man in Malacañang whose first language is just like the President’s—Bisaya. No one has paid him mind because all talk and speculation had been on Bangko Sentral...

Investing in real estate

Among the best investments I have ever made is in real estate, where a property I had acquired 30 years ago has increased in value by 30 times. That is a rate of return of 100 percent every year for the last 30 years. I would really be hard...
The United Kingdom, looking to boost its ties with countries in Asia, has dangled a £4.5-billion financing package that the Philippines could use to underwrite its ambitious infrastructure buildup program. This was learned from the Department of Finance (DOF), which issued a statement saying the UK’s Secretary of State for...
Alhough the economic managers have vowed to usher in a period of frenetic buildup of public infrastructures ostensibly under President Duterte’s vaunted golden age of infrastructure, they have nothing to show for it in terms of fiscal performance. The disbursement of public funds even slowed by 11 percent in February...
BDO Unibank Inc. (BDO) reported full-year 2016 results net income totaling P6.1 billion, matching the bank’s earnings guidance for the year and setting a record net income for the lender. BDO President Nestor V. Tan attributed the bank’s performance on strong results across its core businesses, as well as efforts...
The Bank of the Philippine Islands (BPI) ramped up its net income by 25.6 percent in the first three months this year, earning P6.25 billion in profit in the process. The lender on Thursday also reported total loans of P1.03 trillion, or 19.9 percent higher than last year, as well...
The country’s transactions with the rest of the world, also known as the balance of payments (BOP), stood as a deficit in the first quarter, totaling almost $1 billion. Data from the central bank released on Wednesday showed the BOP as a deficit of $994 million, indicating the net outflow...
The relative strength of the local currency in recent days, considered for now as an outlier in the region, is seen to wane, particularly as the economic reforms under deliberation in Congress see further delays, ING Bank Manila said. In an assessment of the country’s dynamics, ING Bank Manila senior...
The Philippine Deposit Insurance Corp. (PDIC) reported a 14- percent expansion in deposits in 2016 amounting to P10.5 trillion, from only P9.2 trillion in the previous year. Based on PDIC data, the aggregate number of deposit accounts also expanded by 6 percent to 54 million, from the 51 million in...
After heading into the uncharted territory of quantitative easing, the world’s central banks are starting to plan their course through the uncharted waters of quantitative tightening. How the Federal Reserve (the Fed), European Central Bank and—eventually—the Bank of Japan (BOJ) handle the transition could make the difference between a global...
The Asia-Pacific region is ever abuzz with activities, and one of them pertains to the association community. Prior to 2013, when the Philippine Council of Associations and Association Executives (PCAAE) was founded, there were only two “association of associations” in the region, both based in Australia: the Associations Forum (AF)...
Citigroup Inc. joined Goldman  Sachs Group Inc. in backing commodities, saying it’s the season to have faith in raw materials and oil will probably rally to the mid-$60s by the end of the year. While US shale output may come “roaring back” amid higher crude prices, production curbs by Organization...
The Bureau of the Treasury (BTr) sold less than half the total P15 billion worth of Treasury bonds (T-bonds) it planned to sell at auction on Tuesday as a consequence of the very high premium the market demanded for its credit. Treasury chief Rosalia V. de Leon said the BTr...
The P3 billion must be paid in full, Justice Secretary Vitaliano N. Aguirre II said on Tuesday, referring to the compromise tax deal demanded by President Duterte from Mighty Corp. (MC), the oldest Filipino cigarette firm. “The President is asking for only P3 billion in one full payment if the...
Have a dash cam, get a discount. One of the country’s most trusted insurers is offering a 10-percent discount on insurance premium for car owners who have an in-car video camera or dash cam in their vehicles. Fortune General Insurance (FGen Insurance made this announcement in a recent sales rally and...
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