29 C
Makati City
Friday, January 20, 2017
At least 61 percent of Filipinos do not include exercise in their daily routines, which results to poor health and fitness, according to a study commissioned by Sun Life of Canada (Philippines), Inc. (Sun Life). Among Asian countries included in the Sun Life Financial Asia Health Index, surveyed online by...

PHL misses 2016 BOP target

The country’s balance of payments (BOP), or the sum of the Philippines’s trade transactions with the rest of the world, fell into the deficit territory at the end of 2016, missing the projection for the year and reversing gains seen in 2015. The Bangko Sentral ng Pilipinas (BSP) reported on...
We can see in our country today the rich becoming richer and these are tycoons who has built their wealth for generations.  There are, in fact, tycoons who are still alive today who started from being poor to being one of the wealthiest not only in the country but...
The reforms being undertaken by the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) to improve collection efficiency will not effectively increase revenues to fund the Duterte administration’s programs without doing a comprehensive reform in the country’s outdated tax system, according to the Department of Finance (DOF). Finance...
The full implementation of the Comprehensive Tax Reform Program (CTRP) being pushed by the Department of Finance (DOF) for congressional action will help transform the country into an upper-middle-income economy in 2022. For example, House Bill (HB) 4774, one of the tax-reform measures being deliberated upon at the House of...
Banks are now allowed to serve their clients through the so-called cash agents  in the country as the Bangko Sentral ng Pilipinas (BSP) recently decided to relax existing regulations on activities outside banking premises. In a statement made on Wednesday, the central bank said its policy-making body, the Monetary Board, recently...
First Commercial Bank Co. Ltd. (First Commercial Bank) on Monday launched its first Manila branch to provide service to Taiwanese businessmen in the country and to help local micro, small and medium enterprises (MSMEs). “The establishment of our Manila branch is truly a significant milestone for our overseas extension,” First...
The Land Bank of the Philippines (LandBank) and the government of Japan have signed a loan agreement worth ¥4.93 billion (about P1.76 billion) to fund a five-year project that will strenghten agribusiness investments in the Autonomous Region in Muslim Mindanao (ARMM) and other conflict-affected areas in the South, according...
The competition for regional influence among larger economies in Asia will bode well for the Philippines, as regional powers are seen fighting over infrastructure investment opportunities in the country. BMI Research, the think-tank arm of the Fitch Group, said the Philippine infrastructure sector will continue be a key beneficiary as...
Insurance Commissioner Dennis B. Funa on Tuesday said the insurance industry is seen maintaining a steady growth in 2017 on the back of strong purchasing power of an expanding middle-class under the Duterte administration. “Due to the increase in confidence in the Duterte administration, the Philippine economy is expected to...
The unprecedented pledges of investments and assistance by Japan and China to the Philippines, worth about $33 billion, reflect the strong confidence of the international community in the administration of President Duterte and his administration’s capability to sustain the country’s high growth path, according to Finance Secretary Carlos  D....
Four insurance companies have expressed their intention to close shop—three nonlife and one life-insurance firm—while eight nonlife insurers are merging, according to the Insurance Commission (IC). Insurance Commissioner Dennis B. Funa said the four insurance firms formally expressed their intention to voluntary cease operations, and four pairs of nonlife insurers...
Noted economist Romulo Neri, former director general of the National Economic and Development Authority, on Monday said a regressive unitary-tax system will inequitably require the poor to pay a much higher percentage tax than the rich, who consume more expensive brands, because both of them will pay the same...
Part Two Last time I discussed the first three reasons you should love investing in the stock market. I will continue here with the next three reasons. 4.) Investing in the stock market, if done correctly, is considered by experts as the best investment. In his book Stock for the Long Run,...
The government needs to ramp up its investment activities to equal more or less 30 percent of local output, or the GDP, consistent with the self-imposed goal of joining the ranks of middle-income countries by 2040. This was the agreement reached by the country’s economic managers who were dissatisfied by...
THE $292-billion economy likely slowed in the final three months last year and could lose more momentum this year as volatilities mount, particularly affecting investor sentiment toward the country. In its most recent review of the Philippines, Deutsche Bank forecast continued growth in the fourth quarter last year averaging 6.5...
The Social Security System (SSS) on Thursday reiterated the validity of the increase on member contributions as an offsetting measure to the P2,000 pension benefit hike. The state-owned fund refuted the statement made by Senate President Pro-Tempore Franklin M. Drilon saying the hike in contributions was invalid and illegal, explaining...
The sale of government assets under President Duterte went well in the first six months of his term, the program having generated P261 million in the aggregate, according to the Department of Finance (DOF). Under the leadership of Finance Secretary Carlos G. Dominguez III, the DOF was not only able...
The critics of negative interest rates are “ignorant” in their analysis of the unprecedented measures forced on central banks across the world over the past years, according to US economist Kenneth Rogoff. It’s impossible to analyze the effects of the “early experiment” with negative rates because central banks were left...
House Bill (HB) 4144 is beneficial to all, according to one of the salient arguments during the recent Committee of Ways and Means hearing in the Lower House. “It’s a misconception that HB 4144 only favors one local manufacturer,” Rep. Dakila Cua of Quirino said in the hearing. “Let’s not...