31 C
Makati City
Monday, February 27, 2017
The Insurance Commission (IC) has issued new underwriting guidelines in the assessment of risks of persons with actual or perceived human immunodeficiency virus (HIV) to help alleviate the economic strain to the person and their families. According to Insurance Commissioner Dennis B. Funa, the guidelines will enable insurance companies to...
I attended for the first time the Illinois, Chicago-based Professional Convention Management Association’s (PCMA) annual conference, called “Convening Leaders 2017”, in Austin, Texas. One of the many educational tracks I joined in was entitled “5 Secrets to a Killer Elevator Pitch”, conducted by Josh Baer, founder and executive director...
WASHINGTON—Federal Reserve (the Fed) Chairman Janet Yellen pointed on Tuesday to a solid US job market and economy, and said the Fed will likely resume raising interest rates in the next few months. But with uncertainties surrounding President Donald J. Trump’s proposals, Yellen said the Fed still wants to keep assessing...
The Department of Finance (DOF) has plotted an inflation path showing within-target price movements this year no matter the anticipated uptick in consumer prices resulting from the rebalancing of fuel prices. Based on the latest economic bulletin submitted by Undersecretary Gil S. Beltran to Finance Secretary Carlos G. Dominguez III,...
Business tycoon Lance Gokongwei, the president of JG Summit Holdings Inc., has joined the growing support for President Duterte’s Comprehensive Tax-Reform Program (CTRP), as well as the campaign, to ensure better compliance with the country’s tax laws. Gokongwei, who heads one of the largest conglomerates in the country, said he...
Insular Life, the first and largest Filipino-owned insurance company, has introduced a new, stand-alone renewable term plan that provides a monthly allowance for three years from the time a critical illness is diagnosed.  The product covers 35 critical illnesses. “Prime Care is the first insurance product in the Philippines that...

Notes on securitization

Part Two The pool of financial assets (receivables) transferred to the special-purpose entity (SPE) or special-purpose vehicle (SPV), generates future streams of income.  This income is used to pay for the securities issued by the SPE/SPV to investors who purchase or invest in these securities (the securitized product), and who...
Treasury bill (T-bill) rates pushed higher across the board yet again on Monday, led by the 91-day rate, which moved 25.4 basis points up to 2.252 percent, the Bureau of the Treasury (BTr) said. According to the BTr, T-bill rates were higher as a result of higher inflation expectations, the...
The Insurance Commission (IC) is encouraging preneed companies to capitalize on the technological advancements of the digital age to further improve their products and services. Insurance Commissioner Dennis B. Funa is asking preneed companies in the country to innovate and capitalize on new technologies by offering better preneed products and...
Revenue equal to almost 11 percent of this year’s projected collection at the Bureau of Customs (BOC), or some P50 billion, were seen escaping the tax net as a result of motor vehicle, oil and cigarette smuggling identified as the top sources of revenue leakage. The BOC is tasked...
Senate President Aquilino Pimentel III, also president of the ruling PDP-Laban Party list, last  announced on Monday his endorsement of EastWest Bank President Antonio Moncupa as the next central bank governor, as the current Bangko Sentral ng Pilipinas (BSP) chief steps down later this year. In a statement, Pimentel said the party...

5 ways to handle a fortune

Most people who win the jackpot lotto draw or who receive retirement money from their employers lose the money quickly. That’s sad and disappointing since that much money is best managed by growing or investing them. Here are several ways to take care of windfall profits: Hire a professional financial...
The severely diminished ranks of pre-need companies in the country forecast continued industry growth this year, no matter that their number has dropped from more than 200 at some point in the past to just 14 at present. This was learned in an interview on Thursday with Elmer M. Lorica,...
The different industry or business associations, whether foreign or local, recently urged Malacañang to prioritize particular legislative measures, especially the lifting of the constitutional restrictions on foreign ownership and amendments to the bank-secrecy law. The petition is sought for inclusion as priority item for discussion at the next meeting of...
The national government has set aside P200 million as legal defense fund for civil servants this year whose performance of duty may be questioned in a court of law. The amount is similar to that provided under last year’s budget when the legal defense fund (LDF) was first established. The...

Faith in the workplace

It has often been considered that faith and the ordinary life of a person, that is his work, his daily activities, are not compatible. That, for instance, being ethical and being guided by morals in business or in the workplace, must be dichotomized from religious belief. Some years ago, in...
The past week’s surprising pickup in Asia-Pacific inflation gauges may be fleeting. The New Zealand dollar jumped to a three-month high on Tuesday, after a central-bank index of price-pressure expectations climbed to the highest since 2015. That came after January inflation readings for South Korea, Indonesia and Thailand exceeded expectations....
The monetary authorities have put in place a set of rules governing the trade or exchange of so-called virtual coins, making the Philippines the first in the region formally to adopt such a framework. The Bangko Sentral ng Pilipinas (BSP) said the pioneering regulation seeks to balance the interest of...
The yen rose after the nation’s central bank offered to buy bonds for the third time in a week, while crude oil extended the worst two-day slump in four weeks. India’s Sensex was little changed ahead of a central-bank rates decision. The yen advanced, as the Bank of Japan’s (BOJ)...
Union Bank of the Philippines, seventh-largest by assets, has made it easy for small- and medium-scale entrepreneurs (SMEs) to migrate their brick-and-mortar businesses into the digital sphere and take advantage of a very lucrative market, where sales in 2012 alone aggregated P79 billion. This surfaced at Union Bank’s Eureka Forum...