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Makati City
Thursday, August 10, 2017

SLAMCI AUM hit P47B in 2014

SUN Life Asset Management Co. Inc. (SLAMCI) said its asset under management  (AUM) aggregated P47 billion as at end-2014. SLAMCI President Valerie Pama said the wealth management company has gone along way since it started in 2000, with just three funds totaling over P150 million in AUM. She said SLAMCI has prepared...

E-mails–less is more

HAVE you ever noticed how e-mails occupy so much of our time and how it goes back and forth with messages that seem to repeat every now and then?  In an article in USA Today by Steven Petrow dated February 11, 2015, a survey from AtTask conducted by Harris Poll...
THE Bureau of the Treasury (BTr) has again put on hold the implementation of the proposed nonrestricted trading of government securities between tax-exempt and taxable entities, as it continues to gather feedback from among market players from the market-wide testing of the project last week. National Treasurer Roberto B. Tan...
The British-owned Standard Chartered Bank said the country’s local output, measured as its gross domestic product (GDP), should remain robust and expand by at least 6 percent this year, supported in the main by an improving labor-market outlook. The lender’s global research said the encouraging outlook for the country’s labor...
The big universal and commercial lenders kept their soured or nonperforming loans (NPLs) at record lows in November last year, and sustained a decline seen in the past three reporting periods. The Bangko Sentral ng Pilipinas (BSP) said on Tuesday that the NPL ratio of universal and commercial banks fell...
BancNet Inc., the country’s largest automated teller machine (ATM) consortium, said on Tuesday that banks still outside the so-called Europay Mastercard Visa (EMV) domain, which is a global standard for authenticating credit-and debit-card transactions, should now begin using a domestic EMV application. BancNet Vice President and Business Operations Division Chief Rene S....
The government rejected on Tuesday all bids tendered at the auction for 10-year Treasury bonds due to high yields demanded by investors. At the auction for 10-year T-bonds, investors demanded an average yield of 3.573 percent, with some bids demanding as high as 3.621 percent on the bonds. The average rates...

Responsible media reportage

‘IT must be true; it’s in the papers.”  Such is the faith and respect of the general public that what is seen in print is considered gospel truth.  And, yet, with what disregard, many of our newspapers treat their reading public, as a lot of the time, what is...
LONDON—HSBC, Britain’s largest bank, issued a public apology on Sunday, describing the media firestorm that followed allegations it helped rich clients dodge taxes as painful and insisting it has changed the way it does business. Chief Executive Stuart Gulliver signed an ad published in several newspapers, arguing the controversy relates...
Only 3 percent of taxpayers file their returns electronically, despite the numerous types of taxpayers, who are required to do so under the regulations issued by the Bureau of Internal Revenue (BIR). The Department of Finance’s latest Tax Watch advertisement revealed that taxpayers are required to file their returns electronically...
Entrepreneurs in the coffee industry are urged to tap financial programs available from public and private lenders. In a news briefing hosted by the Philippine Coffee Board Inc. (PCBI) on Monday in Makati City, LandBank of the Philippines program officer Diosdado M. Domingo said the state-owned bank is offering a...
WE have thousands of financial advisors in the country and one of the key aspirations is financial literacy. But the big question is, “Are we worth delivering the highest ethics in our professions?” I have seen few who are stirred with the client’s net worth thus propose products which...
State-owned Development Bank of the Philippines (DBP) is seeking additional capital of P10 billion to strengthen its capital ratios under the more stringent Basel-3 standards. DBP Executive Vice President and Chief Finance Officer Susan Prado said they need to raise fresh capital by P10 billion to P22.5 billion by 2016, from the...
With the investment management industry at a critical stage, radical new operating models can give companies the agility to grow margins and manage costs, while keeping regulators happy. Investment management profit margins are under attack from the combined forces of rising regulatory demands, increased competition and fee pressure from lower-cost,...
FOLLOWING the recent signing into law of the bill raising the tax- exemption cap for 13th-month pay and other bonuses into a law, one of the principal authors of the law urged the Aquino administration to immediately issue its implementing rules. Party-list Rep. Antonio Tinio of ACT Teachers, one of the...
THE Bangko Sentral ng Pilipinas (BSP) has waived the fees for the withdrawal and deposit of old bank notes this year.  In a memorandum addressed to all authorized agent banks, the central bank officially said that it has exempted the deposit and withdrawal of old banknotes named New Design...
THE outstanding Treasury bonds issued by the national government as of January 2015 amounted to P3.56 trillion, the Bureau of the Treasury (BTr) reported on Friday. The amount was P20 billion higher than outstanding T-bonds as of the end of 2014. The bulk of the outstanding T-bonds are benchmark bonds (P850.02...
THE Court of Tax Appeals (CTA) has affirmed a tax refund to a power generator, ruling that its business, for the purpose of assessing local business taxes, is classified as a “manufacturer” and not as a “contractor,” which carries with it a higher tax base. In the case of City of...
CLARK FREEPORT—Some 1.8 million pensioners of the Social Security System (SSS) are now required to undergo an annual confirmation of pensioners (Acop) process once a year to ensure the continued receipt of their monthly pension. Luisa “Louie” Sebastian, assistant vice president for media affairs, said starting March, SSS pensioners need...
THE Philippine Deposit Insurance Corp. (PDIC) will conduct two public auctions within the next three weeks in Davao City and Makati City to dispose of various assets of closed banks with an aggregate minimum disposal value of P253.9 million. The auction in Davao City will be held on February...
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