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Makati City
Thursday, March 23, 2017
SMALL and medium enterprises (SMEs) in Japan often include the Philippines as a business expansion site with the growing presence of Japanese-speaking staff in some Philippine banks. BDO Unibank, the country’s biggest bank to date, is one of the local banks with a dedicated Japan desk to serve its Japanese...
Federal Reserve (the Fed) officials are widely expected to announce an interest-rate increase this week amid buoyancy in the stock market and indications the United States  economy continues to grow steadily, without signaling they anticipate accelerating their pace of policy tightening. Beyond the expected announcement on Wednesday of a quarter-point...
We have described the basic process of securitization, and the major participants involved in the securitization of financial assets. But what kind of assets can be securitized?  Assets that generate future income streams would generally be qualified.  The more popular ones would be home mortgages, auto loans, credit-card loans and...
Short-dated securities auctioned off on Monday in the form of Treasury bills (T-bills) posted rates rising across the board, their combined cost having risen 6.9 basis points from when they were last sold by the Bureau of the Treasury (BTr). The auction outcome indicated a market that remains liquid and...
WASHINGTON—For President Donald J. Trump and his economic advisers, the strong February jobs report was a cause for celebration —and a first step toward delivering on the president’s promise of faster economic growth. For the Federal Reserve (the Fed), it was the final confirmation that the time had come to...
The world’s biggest pension fund announced plans to hire new external managers of Japanese stocks, saying it was seeking to improve how the fund interacts with companies it invests in. The $1.3-trillion Government Pension Investment Fund (GPIF) called for applications for passive managers of Japanese equities in a statement in...
A year ago, the Federal Reserve (the Fed) was forced to back away from its earlier projection for four interest-rate increases in 2016. This year everyone’s coming around to the Fed’s view. A Bloomberg survey of 45 economists conducted on March 7 and 8 produced a median estimate for three...
Fortune Life Insurance Co. Inc. (Fortune Life) is boosting its sales force to some 2,200 this year to further widen its reach and provide more life-insurance products to Filipinos. Fortune Life First Vice President for Marketing and Sales Virgilio S. Aquino said the number will expand the work force by...
Some 28 million Filipinos have protection from so-called contingent events in the form of a microinsurance product in the fourth quarter last year, representing an 8-percent increase the Insurance Commission attributed to the rise in members and dependents of microinsurance mutual benefit associations (MI-MBAs). According to Insurance Commissioner Dennis B....
The proposed Comprehensive Tax Reform Program of the government should help push and sustain local output growth, measured as the GDP, above 6 percent for many years, so long as political infighting does not succeed in paring down the full-potential impact of the tax package, the research unit of...
An initial assessment by the Insurance Commission (IC) shows the bulk of the country’s insurers as compliant with the mandatory buildup in net worth to P550 million. According to the IC’s unaudited quarterly statistics, 26 life-insurance companies and 47 nonlife companies have complied with the P550-million threshold required of the...
The ongoing push to curb or eliminate red tape among government agencies has hit a snag, following the insistence of the Board of Accountancy (BOA) requiring the submission of so-called compilation reports, notwithstanding a Bureau of Internal Revenue (BIR) decision dropping the requirement, the Department of Finance (DOF) said. According...
The Bangko Sentral ng Pilipinas (BSP) looks to give banks greater flexibility in observing the know-your-customer (KYC) rule, this time allowing financial consumers to submit identification documents (IDs) online. In a recent chance interview, Deputy Governor for the Supervision and Examination Sector Nestor Espenilla Jr. said the Monetary Board (MB)...
Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. will deliver the keynote address at the annual convention of the Chamber of  Thrift Banks (CTB) on March 14 at the Dusit Thani Hotel in Ayala Center, Makati City. With theme “Maximizing Opportunities in Countryside Development”, the CTB convention seeks...
The thrift-bank sector posted loan growth of 13 percent in 2016, amounting to P777.06 billion, and made possible by stronger lending activities to the micro, small, and medium enterprises (MSMEs), as well as the housing sector, the Chamber of Thrift Banks (CTB) said on Wednesday. The CTB said core lending...
The revenue-collection target of P1.83 trillion for the Bureau of Internal Revenue (BIR) and P467.9 billion for the Bureau of Customs (BOC) this year should be achievable, given their solid performance in 2016 and at the start of the current year, according to the Department of Finance (DOF). Finance Secretary...
There are two governance models out there for associations: the board-governed and -managed model, or so-called volunteer-run (VR) type; and the board-/management-delineated model, or the “volunteer-driven, staff-run” (VDSR) one. In the United States the second model is predominant, while here in the Philippines, it is the first, based on...
The preneed industry reported a 26.53-percent growth in net income in the final three months of 2016 amounting to P2.07 billion, such growth traced to the expansion in the sale of life-plan policies, according to the Insurance Commission (IC). According to Insurance Commissioner Dennis B. Funa, unaudited financial statements submitted...
The cost of three-year funds moved up substantially on Tuesday, the rate having risen 38.1 basis points to 3.873 percent, the Bureau of the Treasury (BTr) said. The auction committee attributed the increase to investors recognizing that premium has to be had given that domestic inflation already trended higher and...
Alpha Southeast Asia awarded Light Rail Manila Corp.’s (the private operator of Light Rail Transit Line 1 ) P24-billion ($480-million) loan facility as the Best Project Finance Deal of the Year during the 10th Annual Best Deal & Solution Awards 2016 held at Le Meridien Putrajaya, Malaysia. SB Capital...