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Makati City
Sunday, March 26, 2017
THE number of Filipinos with some form of insurance has increased to 28 million, the majority of whom are covered by microinsurance policies that pay out benefits for contingent events resulting to loss of income. At a joint news conference on Thursday by the Insurance Commission and the Deutsche Gesellschaft...
SEVERAL lawmakers on Thursday have expressed support to the passage of the Minimum Cigarette Price (MCP) bill at the House of Representatives. National Unity Party Rep. Elpidio Barzaga Jr. of Cavite said the House Bill 5013, filed recently by Nacionalista Party Rep. Eleandro Jesus F. Madrona of Romblon, should help stifle...
THE Philippines being mostly a Christian country has long observed All Saints’ Day and All Souls’ Day as part of tradition.  Indeed these days are even considered as secular holidays as well, with people trooping home to the provinces to visit the gravesites of their beloved dead.  In the Philippines...
THE country’s economic officials will hold another road show in the United States to update existing and potential investors in government securities on the economic prospects of the Philippines. The road show will be held from October 22 to 28, covering the cities of Los Angeles, Boston, New York and...
CAGAYAN DE ORO CITY—Residents of this city will now find it easier to deal with the government or pay for their utilities with the adoption of a new technology that makes it possible to do such transactions using their cellular phones. The Scaling Innovations in Mobile Money (SIMM) project, introduced...
Seven nonperforming and dormant government-owned or -controlled corporations (GOCCs) have been ordered closed by President Aquino on the basis of a recommendation from the Governance Commission for GOCCs (GCG). The seven GOCCs facing closure are PNOC Alternative Fuels Corp., PNOC Development and Management Corp. (PNOC-DMC), Alabang-Santo Tomas Development Inc., DISC...
The Metropolitan Bank and Trust Co. (Metrobank) analysts project full-year growth measured as the gross domestic product, (GDP) this year averaging 6 percent and for the local currency the peso to weaken further toward the end the year to 43.60 per dollar. Metrobank Research analyst Pauline May Ann Revillas said...
Fast-food giant Jollibee Foods Corp. has signed a store management program run by the Ateneo de Manila University, effectively creating its own hamburger university. Sources said an agreement was signed just days earlier that established a Jollibee University within the Ateneo Graduate School of Business (GSB) which has its own campus in Rockwell in...
THE Office of the Solicitor General (OSG) on Wednesday asked the Supreme Court (SC) to lift the temporary restraining order (TRO) stopping the Bureau of Internal Revenue (BIR) from compelling the banks and related businesses to submit a so-called alphalist of recipients of income payments subject to creditable final...
Internal Revenue Commissioner Kim Jacinto-Henares has extended the grace period within which cigarettes entering the domestic market should be affixed with the new internal-revenue stamps to ensure that excise taxes are correctly paid for each pack of cigarettes sold. Henares issued Revenue Regulations (RR) 8-2014 amending the transitory provisions of...
The interest rate for three-year Treasury bonds reissued at the auction on Tuesday retreated to 2.51 percent from 2.75 percent in May on investor anticipation of higher rates down the line. At the auction held at the Bureau of the Treasury, investors offered to buy P53.53 billion worth of T-bonds...
Metropolitan Bank & Trust Co. (Metrobank) looks to widen its consumer lending operations to account for more or less 30 percent of portfolio as it seeks to boost its housing and auto loan business. Metrobank vice president and head of investor relations, Juan Placido III Mapa, said consumer loans make up...
NONLIFE insurer Fortune General Insurance Corp. ​paid P7 million representing its full payment for ​damages that Bohol Electric Cooperative 1 (Boheco-1) ​incurred from the 7.2-magnitude earthquake that struck the island of Bohol on October 15, 2013. Among those affected were Boheco-1’s power distribution facilities, power stations, substations and offices situated...
The Court of Tax Appeals (CTA) has denied a P10-million claim for refund of unused input value-added tax (VAT) filed by the regional operating headquarters in Manila of the Hong Kong-based Emerson Electric (Asia) Ltd. for its failure to issue VAT zero-rated official receipts to its foreign clients. The CTA...
The Social Security System (SSS) has signed nine more cooperatives as collecting agents for the contributions of its members, bringing in a total of 90,377 new members of the SSS and an estimated additional P14.4 million in annual contributions. SSS President and CEO Emilio de Quiros said the nine newly...

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LAURA felt something unusual in the behavior of her husband as he seemed restless. It turned out that Brent was having breathing difficulties so he was rushed to the nearest hospital. Upon diagnosis and further laboratory tests, he was recommended for heart bypass operation. Brent stayed in the hospital for...
SOME 23 million low-income Filipinos representing more or less 25 percent of the population own a microinsurance policy, making the Philippines the country with the deepest microinsurance cover in the world, according to the Insurance Commission. “We had meetings internationally. They are amazed at how we increased penetration in the...
Significant regulatory change is occurring. The International Association of Insurance Supervisors (IAIS) this year celebrated its 20th anniversary, and while the IAIS accomplishments in that time are impressive, the future independence of the organization could now be in question as the Financial Stability Board (FSB) exerts increasing authority over...
Cebuana Lhuillier has sought authority from the Insurance Commission (IC) to offer so-called microlife insurance products under a partnership agreement with industry leader Philippine American Life and General Insurance Co. (Philam Life). Cebuana Lhuillier Insurance Solutions (CLIS) General Manager Jonathan Batangan said Cebuana Lhuillier has partnered with Philam Life in...
Insurance Commissioner Emmanuel F. Dooc said on Friday that the Philippine Public School Teachers Association (PPSTA), a mutual benefit association placed under the commission’s financial-rehabilitation program, has regained financial health and finally posted positive equity as of July 31. “Last July 31  it posted a positive equity of P21 million....