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Makati City
Sunday, March 26, 2017
THE National Commission on Muslim Filipinos (NCMF) is promoting Islamic finance in the country to encourage the greater economic participation of Muslim Filipinos. NCMF Bureau of Muslim Economic Affairs Director IV Aleem Siddiqui Matabalao Guiapal said Islamic finance is expected to spur commercial activities by attracting Islamic funds and investments,...
Loans released by the Industrial Guarantee and Loan Fund (IGLF) rose to P3.27 billion in 2014, 36-percent higher than in 2013. Medium to long-term and short-term loans, at P2.58 billion, constituted 77 percent of net loans and manifested the largest growth rate of over 1,000 percent. These loans were targeted at...
The insurance industry is expected to rebound next year, after a positive but slower growth this year compared to record-high growth in both premium payments and revenues in the past four years. Insurance Commissioner Emmanuel F. Dooc said the insurance industry could achieve the 2.5 percent target penetration rate by...
THE interest rates on reissued five-year Treasury bonds (T-bonds) went down by 25.3 basis points to settle at 3.267 percent per annum with a coupon rate of 3.875 percent, it was learned on Tuesday. When the Bureau of the Treasury (BTr) auctioned off such T-bonds in February, the average interest...

Manila seeks new MCC grant

The Bureau of Internal Revenue (BIR) targets a second contract with the Millennium Challenge Corp. (MCC) for which the Philippines had recently been declared eligible to apply. Internal Revenue Commissioner Kim Jacinto-Henares said the BIR will apply for another grant for assistance in improving its tax-collection capabilities, including the program...
By Ashley Manabat | Correspondent CITY OF SAN FERNANDO—The Bangko Sentral ng Pilipinas (BSP) is reminding the public that their old peso bills will be worthless after December 31, 2015, if they fail to swap them with new banknotes. In a report from the Philippine Information Agency (PIA) last week, the BSP is urging...
The Insurance Commission (IC) has ranked the quick enactment of a law, under which the country’s health maintenance organizations (HMOs) may be regulated, as one of the more urgent pieces of legislation requiring full support under the soon-to-be-convened 17th Congress. This was revealed on Wednesday by IC chief Emmanuel F....
Continuation from October 6 This offers the opportunity for a different perspective in the report more closely aligned with a bank’s own business model and more relevant to an understanding of how its prospects have been developed and protected over the short-medium and long term. Below are three ideas for...
LONDON—US, British and Swiss regulators fined five global banks more than $3 billion for attempting to manipulate foreign exchange markets—the latest penalties for an industry previously criticized for rigging interest rates and for their role in triggering the global financial crisis. The US Commodity Futures Trading Commission, the United Kingdom...
Rizal Commercial Banking Corp. (RCBC) posted an unaudited consolidated net income of P5.1 billion for 2015, 15.2 percent higher than the P4.4-billion net income reported in 2014. Earnings per share (EPS) settled at P3.73, P0.62 per share, or 20 percent, better than the P3.11 EPS reported for the same...
The Social Security System (SSS) on Friday honored 16 organizations, including the BusinessMirror as media partner for print, in its annual SSS Balikat ng Bayan Awards, which recognized their contributions in providing social protection to Filipino workers. “Every year, we honor institutions with invaluable help and support in achieving the...
THE Securities and Exchange Commission (SEC) on Friday reminded the investing public that apart from a so-called primary franchise, registered corporations are required a secondary license to solicit investments from the public. The regulator reiterated this point as it filed two complaints against a number of corporations for offering to...
Finance Secretary Carlos G. Dominguez III said on Thursday the Bangko Sentral ng Pilipinas (BSP), the Department of Justice (DOJ) and the National Bureau of Investigation (NBI) agreed to put in a more coordinated effort when running after suspected money launderers going forward. According to Dominguez, the agencies will keep...
The local banking system remained strong and its capital base more fortified no matter the global and more domestic headwinds last year, based on latest data from the central bank. Latest figures on the capital adequacy ratios (CAR) of universal and commercial banks show the observance of above-minimum thresholds as...
Insular Life bested other life-insurance companies worldwide by earning its 15th Life Office Management (LOMA) Excellence in Education Award.  The award recognizes companies that excel in developing their human resources through the use of LOMA’s professional education and learning programs. With 15 Excellence in Education awards under its belt, Insular...
Philippine economic managers and top-ranking Chinese officials on Monday started discussions in Beijing on how to move forward and roll out the big-ticket Philippine projects covered by the agreements signed during President Duterte’s China state visit last year. Government officials, led by Finance Secretary Carlos G. Dominguez III, are in...
THEY say that running a household is very much like running a business. Once you become an expert in running your personal finances, it would be easy to manage your business finances. Sometimes, though, it can get complicated and it wouldn’t seem as simple as it should be. A lot...
By Butch Fernandez Dismissed Rizal Commercial Banking Corp. (RCBC) Jupiter Branch Manager Maia Deguito, invoking health reasons, asked Senate probers to excuse her from appearing at today’s (Tuesday) resumption of the Blue Ribbon inquiry into the $81-million money-laundering case involving funds stolen by hackers from a Bank of Bangladesh account...
As reimbursement models shift, provider margins come under increasing pressure and health plans become more and more aggressive in their pricing negotiations, a small (yet growing) number of providers are starting to explore how they might leverage Big Data to improve their revenues. And in doing so, many are...
Instead of imposing additional taxes to recover forgone revenues from the proposed reduction of personal income tax (PIT), a legislator has filed a bill granting instead a onetime tax amnesty to cover an individual or corporation’s unpaid taxes for 2015 and prior years. In House Bill (HB) 3655, Party-list Rep....