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Makati City
Thursday, May 25, 2017
AIG Philippines, an American nonlife insurance company, announced on Thursday it has earmarked $2.5 billion for property insurance for 2017 anticipation of the P7-trillion infrastructure rollout of the Duterte administration. “With the infrastructure boom expected in the Philippines, that amount of capacity or new capability meets the needs of the...
The Bangko Sentral ng Pilipinas (BSP) needs to look into the operations of certain Non-Stock Savings and Loan Associations (NSSLAs) that are providing loans to active and retired members of the Philippine National Police (PNP), even if the borrowers still have existing unpaid loans with other firms, according to...
“To see a wrong and not to expose it, is to become a silent partner to its continuance. ” —Dr. John Raymond Baker Recently, Barclays was on the business papers’ headlines on account of its CEO Jes Staley, being investigated for trying to identify a whistle-blower. The regulators (Financial Conduct Authority and...
The Bangko Sentral ng Pilipinas (BSP) is not quite successful in persuading the various lenders, trust departments and others in the financial services arena to give up more of their idle funds and bring so-called excess liquidity under the ambit of its term deposit window. This was based on latest...
Insular Life Assurance Co. Ltd, the largest Filipino insurance company, projects higher total premium income through its bancassurance tie-up with the universal lender UnionBank. Insular Life anticipates 30 percent to 40 percent rise in premium drawn from the 300 branches of its bancassurance partner UnionBank. The target is set among the 200...
WIIFM is not a radio station. It is an acronym for “what’s in it for me?”, a frequently asked question that an association executive gets from a potential member. WIIFM refers to what benefit or value an association member can reap—a simple question that many associations grapple with. I recently...
The Bangko Sentral ng Pilipinas (BSP) is seen shifting its monetary policy this year to favor a higher rate for the first time since 2014, as inflation is projected to hit close to the ceiling of government’s target for 2017, an international think tank said on Tuesday. BMI Research—the think...
The Land Bank of the Philippines (LandBank) said its outstanding loans in support of the country’s small farmers and fishermen in the first quarter of 2017 reached P434.4 billion, 12 percent higher than the P387.4 billion recorded during the same time period last year. LandBank noted growth in identified priority...
I am often asked for tips on how to save money. Specifically, people who seek advice on how they can control themselves from making unnecessary purchases. And there’s one strategy that I personally do, which I always share with those who ask me for such tips. It’s just a simple...
Treasury bill (T-bills) rates fell across the board on Monday, led by 91-day T-bills whose rate improved by 5.7 basis points to 2.148 percent, from 2.205 percent two weeks earlier, the Bureau of the Treasury (BTr) said. This development has beneficial impact on borrowers whose true cost of funds, measured...
The country’s transactions with the rest of the world, more known as the balance of payments (BOP), was seen improving over the near horizon based on latest data showing significantly improved cash remittance data from millions of overseas Filipinos. The imbalance in the BOP was seen corrected by more recent...

The urge to build

For as long as man has existed, he has felt a need to expand frontiers, build monuments, or simply master all that he surveys. Thus, we find the ill-fated attempt to build a tower reaching up to the skies, the Babel of history, remaining as a distant memory when...
Finance Secretary Carlos G. Dominguez III is looking into the possible makeover of the Development Bank of the Philippines (DBP) into an infrastructure bank to help effectively carry out the government’s high—and inclusive—growth agenda anchored on an ambitious spending program that aims to close the country’s decades-old infrastructure gap. Dominguez...
The Bureau of Internal Revenue (BIR) insisted before the Department of Justice (DOJ) that tobacco manufacturer Mighty Corp. and its top executives should be held liable for tax evasion that now total P36.5 billion arising from the use of fake internal revenue excise stamps on its cigarette products. The BIR...
The country’s antiquated Tax Code, which contains 59 lines of exemptions from the value-added tax and 84 special VAT-related laws, have led to massive revenue leakages costing the government an estimated P90.7 billion each year, according to the Department of Finance (DOF). Finance Undersecretary Karl Kendrick T.  Chua said overhauling...
In the recent Consultative Meeting of the Senate Committee on Ways and Means, there was a discussion on the proposed increase on the excise tax on automobiles.  Among those present were representatives from the legislature, industry and government, particularly the Department of Finance and its various agencies.  Under the...
Sun Life Asset Management Co. Inc. (Slamci), the insurer’s mutual-fund arm, introduced on Wednesday a video series called Make It Mutual that share tips and the experience of clients who benefit from mutual funds. The campaign helps set the topics that financial advisors will discuss in investment seminars in June that...
Banks and trust entities would not be stampeded into holding far more Bangko Sentral ng Pilipinas (BSP) deposit slips than they have to till after the fluid conditions across markets have crystallized. This came across clearly again on Wednesday at auction exercises in which the market showed  “clear market preference”...

Why associations fail

In my October 27, 2016, column, “Emulating Remarkable Associations”, I wrote about the results of a multiyear study of the American Society of Association Executives (ASAE) on the “7 Measures of Success: What Remarkable Associations Do That Others Don’t.” This time, I wish to share an article by Virtual,...
After a four-year hiatus, the Bureau of the Treasury (BTr) sold P15 billion worth of 20-year Treasury bonds (T-bonds) auction on Tuesday on the back of strong demand for longer-yielding government security. According to Deputy Treasurer Erwin D. Sta. Ana, the T-bonds sale received a healthy turnout since the issuance...
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