31 C
Makati City
Monday, February 27, 2017
Finance  Secretary Carlos G. Dominguez III, cochairman of the Mining Industry Coordinating Committee (MICC), said a three-month review of the contracts of the mining operations ordered closed by Department of Environment and Natural Resources (DENR) is reasonable. According to the finance chief, while the three-month review of all the mining...
One of the country’s most trusted non-life insurance companies finished 2016 on a record note, surpassing all its targets in gross and net premium and boosting its resolve to be the insurer of choice of the young generation. Fortune General (FGen) Insurance, in its unaudited financial report, revealed gross premium...
The Bangko Sentral ng Pilipinas (BSP) said liquidity in the system is just right and at a “healthy” level, as evidenced by the latest results of the monetary authority’s weekly auction on Wednesday. Term deposit facility (TDF) auction results showed the banks and trust entities continued strong interest in the central...
Israel has vowed its continuing support for the development of the country’s farm sector, and proposed to expand its current exchange program for Filipino agricultural students who want to learn from Tel Aviv’s expertise and advanced technologies in agriculture. In a recent meeting with Finance Secretary Carlos G. Dominguez III,...
In my talk with associations, principally with members of the Philippine Council of Associations and Association Executives (PCAAE), the national federation of associations in the country which I lead, I always take the opportunity to challenge the audience by posing the question: “Can you state your association’s purpose in...
The Bureau of the Treasury (BTr) on Tuesday allowed the five-year bond rate to rise by 15.4 basis points to 4.03 percent. Treasury officials recognized the premium bond investors demand from the government as a result of uncertainties generated by such significant events as the timing of the next...
The president of the largest organization of hotel-and-resort owners nationwide has expressed his full support for the proposed Comprehensive Tax Reform Program (CTRP), as this would guarantee, he said, the implementation of the government’s infrastructure buildup that is crucial to sharpening the competitive edge of the tourism sector. Arthur Lopez,...
Philab Holdings Corp., a local health care and life science enabling holding company, has secured financing worth P400 million from Altus Capital, an affiliate of the World Bank Group’s International Finance Corp. (IFC) . Altus Capital Corp., a specialist investment firm managed by Altus Capital Partners, has provided financing to...
Bureau of Customs (BOC) Spokesperson Col. Neil Anthony Estrella debunked reports circulating last week that the bureau already filed cases against a local cigarette manufacturer and 101 other importers by calling it “a hoax”. Earlier news reports indicated the BOC will file a temporary suspension of the accreditation of 101...
The danger of American President Donald J. Trump’s almost bigoted policy on immigrants and refugees is that it ignores America’s legacy of liberal democracy and that the growth of America has been significantly oiled by the entry of the best people from other nations into her shores. People are beginning...
The Asian Development Bank (ADB) sees the progressive tax measures being proposed by the Department of Finance (DOF), including reforms in the excise taxes of automobiles and petroleum products, will help sustain the country’s economic growth. ADB President Takehiko Nakao, in a recent meeting with Finance Secretary Carlos G. Dominguez...
The country’s balance of payments (BOP) deficit narrowed to $9 million in January, from the $214 million registered in December 2016, latest data from the Bangko Sentral ng Pilipinas (BSP) showed. This is the fourth month that the country posted consecutive BOP deficits since October 2016, but the BSP expects...
Summer is just a few months away, and the gym is now filled with people hoping to achieve that sexy body, just in time for the beach. A number of friends are already on a diet and exercising as much as they can to get rid of the flabs...
DAVAO CITY—The Bangko Sentral ng Pilipinas’s (BSP) effort to widen its reach among unbanked Filipinos is being hampered by the restrictions being imposed by the banking sector, industry sources said. Even the banks have appealed to the BSP and the Anti-Money Laundering Council to help them persuade bankable entrepreneurs in...
The Insurance Commission (IC) wants to broaden the investment areas for insurance companies to include public-private partnerships (PPP) and take advantage of the Duterte administration’s infrastructure program and help sustain the performance of the insurance industry. Insurance Commissioner Dennis B. Funa said an estimated 5 percent of investments by the...
Finance Secretary Carlos G. Dominguez III said the local automotive industry should continue to grow even with the proposed adjustments in car excise tax, since the lowering of the personal income tax (PIT) compensates for and provide Filipinos with more money in the pocket for spending. According to Dominguez, buyers...
DAVAO CITY—The government needs to monitor the lending activities of inhouse lenders and other nonbank entities to contain risks of overexposure and avoid the financial pitfalls to certain front-running sectors, like real estate. This emerged as one of five policy recommendations uncovered at the 2014 Consumer Finance Survey, whose findings...
Short-term foreign investments, also called “hot” money transactions, started the year on a positive note in January as net outflows two months prior fortunately reverted to net inflows instead. The Bangko Sentral ng Pilipinas (BSP) said on Thursday foreign portfolio investments (FPI) during the month yielded net inflows totaling $301 million. There was...

Philippine outsourcing in 2017

Among the predictions for outsourcing in 2017, what stands out and seem the most common is the uncertainty hanging over the industry. This uncertainty is traced to the victory of Donald J. Trump at the US elections and the victory of the leave-the-European Union movement or Brexit. With this...
The Bureau of Internal Revenue (BIR) vowed on Tuesday to capitalize on new technologies and improve the security features on its excise-stamp tax to stop the widespread use of fake stamps that rob the government of up to P15 billion each year. Fake excise stamps are particularly rampant in cigarette...