27 C
Makati City
Thursday, July 27, 2017
The advent of modern technologies has undeniably brought so much comfort to the lives of people. At the tip of his or her fingertips, one is able to shop, make payments, or receive money in his bank account anywhere or right at the comfort of his home. Advancement in technology...
Based on projected 2015 data from the Philippine Statistics Authority, in the next decade, Filipino millennials aged 15 to 35 will be the largest living generation—and their numbers and lifestyle will shape the country’s socio-economic and cultural development. This early, PayMaya Philippines is helping to enable this frontier market segment....

The future of cash

"BELIEVE it or not, there are more live SIM cards in the Philippines than there are Filipinos,” G-Xchange Inc. CEO Albert Tinio said when faced with the gap in statistics on Filipinos who are either underbanked or unbanked. Three out of four Filipinos don’t have a bank account. 40...
The Insurance Commission (IC) on Thursday lauded the President’s insistence to include casinos as covered entities under Republic Act 10927, or the Anti-Money Laundering Act (Amla), which should further strengthen the monitoring and combating of tainted financial transactions. Insurance Commissioner Dennis B. Funa, himself a member of the Anti-Money Laundering...
In the information age, compliance to data-privacy and data-protection regulations are considered by organizations as a competitive advantage in their business operations. This was confirmed by contact-center managers and data-protection experts at the recent Data Privacy Asia conference organized by the Contact Center Association of the Philippines. (CCAP). Contact-center clients look...
Trade officials may have unwittingly set themselves up in a collision course with President Duterte, who has vowed to cut bureaucratic red tape and ease the process of doing business in the country by imposing burdensome requirements on importers. Industry executives said the infrastructure projects under the Duterte administration’s “Build,...
THE Land Bank of the Philippines (LANDBANK) has come a long way since it was founded in 1963 as part of a program of land reform in the Philippines to help with the purchase of agricultural estates for division and resale to small landholders, and the purchase of land...

An ode to a lifework

TWENTY-FIVE years ago, Elmarie Reyes (then Elmarie Silvino), was looking for something that she couldn’t find in her previous employment. She had a lucrative job as a treasury manager, but she was also young and precocious and idealistic, nursing a gaping void in her work life and was always...
March this year marked the golden anniversary of Popularum Progressio (The Development of Peoples), Pope (now Blessed) Paul VI’s Encyclical where he specified in detail the meaning of “integral development” as the “development of every man and of the whole man”. Moved by prevalent issues of his time, such...
The economic managers have drawn a macroeconomic program anticipating a deficit in both the fiscal or budget balance, as well as on the country’s current account, an aggregate that for 15 years told the story that the Philippines is a net lender to the rest of the world. But with...
The various lenders would rather spend their money on government securities (GS) than invest them on term deposits offered by the Bangko Sentral ng Pilipinas (BSP). This was obvious in latest results from the Central Bank’s term-deposit facility (TDF) auction on Wednesday when both the short- and long-term tenors attracted...
The Manila-based Asian Development Bank (ADB) will be piloting a cloud-based banking project as a first step toward improving financial inclusion nationwide. In a statement on Wednesday, the ADB said Cantilan Bank, in partnership with Oradian, will pilot cloud-based core banking technology. The ADB is extending a $150,000- (P7.5-million worth) grant...
In my column on April 27, “Association and Corporate Management: Differentiating Factors”, I mentioned that association management and corporate management are not exactly similar fields and that there are at least eight aspects that distinguish them. In this column, I wish to share with you a recent blog by...
Economic expansion measured as the GDP was seen sustained at a solid pace in the second quarter of maybe 6.4 percent or even better, latest indicators from the central bank showed. However, the policy-making Monetary Board of the Bangko Sentral ng Pilipinas (BSP) expressed concern over so-called downside risks, particularly...
The Bureau of the Treasury failed to sell Treasury bonds (T-bonds) at the auction designed to sell at least P15 billion worth of reissued paper on Tuesday. Officials said the various government securities eligible dealers, mostly banks and trust companies, offered very high rates for their credit and forced the...
Finance Secretary Carlos G. Dominguez III is hoping that the Senate will swiftly pass the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) after President Duterte himself called on Congress anew to approve the measure in his second State of the Nation Address (Sona) on Monday. Duterte said the TRAIN...
This term might have been familiar to many people but this is the first time for me to encounter this. It means “no-mobile-phone phobia”. For working people like us, it is impossible to go through the day without a mobile phone. We are certainly addicted to these and other...
The national government (NG) reported a budgetary shortfall of P90.9 billion in June, or double the shortfall recorded in the same month last year of P45.2 billion, data from the Bureau of the Treasury (BTr) showed. According to the BTr, the budget deficit reflects the 23-percent rise in expenditures amounting...
Senate leaders are backing an inquiry in aid of crafting remedial legislation to tighten internal controls of banks after a P900-million internal fraud that rocked Metrobank, following a series of glitches and skimming incidents in other big lenders. The proposed probe would help address last week’s revelation by Metrobank that...
The full collection of the civil settlement of the tax liabilities of Mighty Corp. will depend on how fast the approval of the sale of its assets to Japan Tobacco (Philippines) Inc. (JTI) is approved by the Philippine Competition Commission (PCC). Finance Secretary Carlos G. Dominguez III said Mighty Corp.’s...
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