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Makati City
Thursday, March 23, 2017
The government will sell at least P30 billion in three-year retail Treasury bonds (RTBs) to widen participation of local investors in government securities, the Bureau of the Treasury (BTr) announced on Thursday. According to the 19th RTB notice posted in the BTr web site addressed to government securities eligible dealers...
The Insurance Commission (IC) has signed a circular letter dropping the need to submit clearances coming from the National Bureau of Investigation (NBI) and other agencies in line with the Duterte administration’s push to reduce red tape in government offices. Insurance Commissioner Dennis B. Funa said NBI and barangay clearances...

Punitive interest

Fairness is basic to a successful and equitable tax system.  The proposed tax-reform bill seeks to address many of the inequities in our Tax Code.  However, there is a basic inequity that is so oppressive to taxpayers which is not yet incorporated in any proposed bill—the simultaneous or overlap...
The Philippines is seen signing bilateral deals with neighboring countries next month, in line with the government’s commitment to help create a larger and deeper regional financial market and promote easier access for qualified Asean banks (QABs), the Bangko Sentral ng Pilipinas (BSP) announced on Tuesday. BSP Governor Amando M....
The Bureau of the Treasury decided on Tuesday to fully award five-year Treasury bonds with remaining life of four years and 10 months on the back of strong demand for the security, with total tenders amounting to P26.6 billion, or almost twice the P15 billion on offer. The auction fetched an...
Pag-IBIG Fund has released a total loan value of P8.5 billion in 2016 to assist 24,983 low-income workers in realizing their dream of home ownership through Pag-IBIG housing loans. Pag-IBIG Fund Officer-in-Charge Acmad Rizaldy P. Moti said the number of units for said group accounted for 33 percent of the...

Dynamics of an airport

No, this will not be an extended treatise on what makes an airport run. But it is a brief glimpse of Clark Airport after about 25 years of existence. It is a story of opportunities and lost opportunities, as a jewel was left to itself for all this time....
In a ceremony held on March 7 at the Bangko Sentral ng Pilipinas (BSP) Manila, Education Secretary Leonor M. Briones (fifth from right) and BSP Governor Amando Tetangco Jr. (third from left); Monetary Board members (from left) Juan de Zuñiga Jr., Valentin Araneta, (from right) Armando Suratos, and Felipe...
A visiting Chinese official said the Philippines has an important role to play in the China-led Regional Comprehensive Economic Partnership (RCEP), particularly in improving regional cooperation, as the country chairs the Asean this year. Vice Premier Wang Yang, in a recent meeting with Duterte Cabinet officials led by Finance Secretary...
Passive income is the most desirable type of income. After all, what’s better than having your money work for you and not the other way around? And if financial freedom is your goal, then seeking passive income opportunities should become part of your priority. However, while there are many personal-finance...
By Rea Cu @ReaCuBM The proposal of the Department of Finance (DOF) to connect all cash registers and point-of-sale (POS) machines of businesses to the Bureau of Internal Revenue (BIR) and to allow the use of electronic receipts will improve the government’s tax-collection efficiency, according to the National Tax Research Center...
AT last, the Bangko Sentral ng Pilipinas (BSP) broke a five-year string of losses and in 2016 finally reported net income totaling P17.02 billion. Data released on Thursday showed the central bank finally turning in a profit last year with net income just above P17 billion, representing a turnaround from...
It’s Fire Prevention Month, and for Filipinos who buy insurance for their homes, it is the time when they renew their standard fire policy with their insurance company. But very few of these homeowners know that the typical fire insurance they buy do not cover earthquake. Fortune General Insurance Corp.  (FGen...
The Bangko Sentral ng Pilipinas (BSP) has issued guidelines on the banks’ responsible use of social media, with the requirements aimed at ensuring that necessary safeguards and standards are in place to mitigate the risks involved. “At the back of this evolving and increasingly dynamic operating environment, the new regulation...
The downfall of the roman empire was due to overextending its territory beyond its ability to manage. It was so big it collapsed under its own weight. Today’s America is in such situation. No longer will it be “the indispensible nation to maintain world order”. The new normal is a foreign...
The foreign-currency earnings sent home by overseas Filipinos bucked the seasonal slack in January, when this grew faster than it did at the height of the Christmas season, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday. In particular, cash remittances coursed through banks in January this year grew 8.6 percent...
Finance Secretary Carlos G. Dominguez III welcomed the decision by the House Committee on Ways and Means to approve in principle the first package of the government’s Comprehensive Tax Reform Program (CTRP) as a whole and not on a piecemeal basis. Dominguez said the legislature’s decision to pass the tax...
The Insurance Commission (IC) has once again granted Fortune General Insurance Corp. (FGen Insurance) an omnibus certificate that serves as a clean bill of health for insurance companies. Deputy Insurance Commissioner Dorothy Calimag issued the certificate noting that as of February 21, 2017, FGen Insurance has met all the requirements of the Insurance...
The American Society of Association Executives (ASAE) defines an association as an organization or group of individuals affiliated with one another who share a common purpose, interest, or mission and exist for the mutual enrichment and advancement of their membership. As such, membership is an association’s main element for...
Outgoing Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. has a wish list that in the main includes a transparent yield curve and a fully functional repo market. He bared this sentiment at the recent convening of members of the Chamber of Thrift Banks (CTB), where he said...