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Makati City
Friday, April 28, 2017
The proliferation of social media the past five years has allowed criminal investment scams to thrive, and in combination with most people’s lack of financial sophistication, the amount of hard-earned money lost to scammers now runs in the billions of pesos. This was why Sun Life Asset Management Co. Inc....
THE Philippines was seen to renew effort at engaging China, even as it strengthens further its economic ties with Japan when the world’s leaders meet in November during the Apec 2015 Summit. Analyst and De La Salle University  Political Science Prof. Richard Heydarian said China and Japan—Asia’s two biggest economies—are key...
Consumers saved more in the first three months of the year than in the recent past, despite the marked uptick in the price of the basket of commodities Filipinos generally consume during the period. Latest data from a survey conducted by the Bangko Sentral ng Pilipinas (BSP) showed significantly higher...
NINETEEN former heads and deputy chiefs of the Department of Finance (DOF) and the National Economic and Development Authority (Neda) have given their full support to the DOF’s comprehensive tax-reform program, which, they said, would “correct the structural weaknesses” and serve as a tool to decisively attack poverty and...
China Banking Corp. (China Bank) reported net income in the first semester rising 14 percent higher to P2.51 billion from only P2.20 billion last year, driven by the strong growth in core businesses. China Bank Senior Vice President and Investor and Corporate Relations Group Head Alexander C. Escucha said the increase in...

CEO Awards honors Cabangon

The President and CEO of the ALC Group of Companies, D. Edgard A. Cabangon  was one of those honored at the 2016 International Association of Business Communicators’ CEO Excel Awards. The award is conferred on individuals from the government, business and academe for exceptional and ethical use of communication strategies...
Import data is typically unreliable and the value of goods coming to the Philippines so undervalued such that more than half their actual value is captured in the statistics, Customs chief Nicanor F. Faeldon said in frustration on Tuesday. As a consequence, as much as 57 percent of potential duty...
The Bureau of Customs (BOC) said on Wednesday that it missed its target collection for January on account of continued low price of imported oil in the international market. Preliminary figures show the BOC generating a total of only P30.9 billion in January this year, reflecting growth of 5.2 percent from...
U.S. prosecutors are asking whether two law firms gave Standard Chartered Plc. improper advice as they steered the bank through a sanctions-violations investigation, according to people familiar with the matter. The Justice Department has requested a review of e-mails and other documents related to the bank’s communications with New York-based...
COMPANIES or individuals who do business at the Manila International Container Terminal (MICT) can soon make all port-related payments online that aims to facilitate trade transactions. The MICT is preparing to implement the second phase of the ACTS Billing System, that allows customers to pay their port charges online. “This will...
Visa Inc., the global payments technology company, looks to sell more of its innovative contactless payWave card product to as many banks and merchants that accept the technology. Stuart Tomlinson, Visa country manager for the Philippines and Guam, said the banks issuing payWave cards here already include Citibank, HSBC, BDO...
ASK any financial-planning expert, and he or she will immediately agree on the importance of being insured. The peace of mind offered by having insurance is plain, simple and undeniable. Many Filipinos, however, still refuse to have one. According to the Oxford Business Group’s (OBG)  The Report: Philippines 2014, the...
Finance Secretary Carlos G. Dominguez III only recently swore into office former Sen. Alberto G. Romulo as the new chairman of the board of the Development Bank of the Philippines (DBP). Rogelio V. Garcia, an esteemed member of the Philippine bar, was named director of the bank. Romulo served as finance,...
THE Asean Economic Community (AEC), as a goal of regional economic integration, will redefine the business landscape. Local competition will be overshadowed by greater competition across member-countries of the Asean region, and business standards will be challenged by stricter regional practices that will compel companies to improve and upgrade in...
Moody’S Investors Service cut its credit-rating outlook on China’s largest phone company and its biggest banks after doing the same to the country’s government. The credit assessor reduced the outlook on 38 state-owned enterprises, including China Mobile Ltd., to negative, it said in a Thursday statement, a day after cutting...
CORRUPTION, the term used for giving or asking for money, or bribes to win contracts or favors, for abusing political powers and diverting public funds, is a common problem in all countries, developed or developing.  One could truly say that corruption is a cancer of society. Indeed, even Pope...
  The country’s mutual fund industry posted assets under management (AUM) reaching P245 billion in the first quarter this year, higher by 22.5 percent than the P200 billion in the fourth quarter last year. Chartered Financial Analyst (CFA) Society Philippines Board Adviser Marvin Fausto said this translates to compounded annual growth...
THE Philippines, which typically sells dollar bonds at the start of the year, isn’t in a rush to issue this time around as an increase in revenue gives the government room to defer until conditions are the most favorable, according to the nation’s top treasury official. The department is also waiting...

Metrobank selling more LTNCDs

The Metropolitan Bank & Trust Co. (Metrobank) on Tuesday bared the sale of a new long-term negotiable certificates of deposits (LTNCDs), whose proceeds will help finance its lending activities next year. Metrobank Vice President and Investor Relations Head Juan Placido Mapa III said in a regulatory filing the LTNCDs will be sold at a rate of 4.25...
THE export sector, a significant catalyst for sustainable economic growth, stands to benefit if the Bangko Sentral ng Pilipinas (BSP) promotes a competitive exchange rate to weather the export slump and help push inclusive growth. Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation Inc. (Philexport), said exports have declined...
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