29 C
Makati City
Monday, June 5, 2017
Fortune Life Insurance Company  Inc. has sent mobile clinics to different schools nationwide to attend to the health needs of public-school  teachers. The health services are benefits provided to the teachers as members of Fortune Medicare Inc., or FortuneCare,  a managed health-care company. At the same time, the teachers are...
The Department of Finance (DOF) on Monday invited investment banks in Japan to explore opportunities in the country’s hybrid Private-Public Partnership (PPP) Program in line with the Duterte administration’s infrastructure buildup. Finance Secretary Carlos G. Dominguez III said investments banks, such as the Nomura Group, may explore opportunities in the...
International credit watcher Standard & Poor’s  (S&P)  Global Ratings said the Philippine banking system is healthy enough to ride out any potential risk it may face in the policy horizon, but warned this current stability may be shaken by unfilled gaps in the legislative and infrastructure area. In its latest...
The largest Filipino life-insurance company, Insular Life Assurance Co. Ltd., which partnered with Union Bank of the Philippines (UnionBank) to offer bancassurance services to Filipinos, is positioning the partnership to become the dominant player in the country’s banca ssurance industry. UnionBank President and COO Edwin R. Bautista said the bank is targeting the top spot in the bancassurance...
One of the best tools to determine the condition of your personal finances is the cash-flow statement. It lists in detail your sources of income (cash inflow) and how your money are being dispensed with (cash outflow). The difference between cash inflow and cash outflow is called the net...
The country’s economic managers said a weak peso should not bother Filipinos, as this will translate to higher tax revenues, additional monetary benefits for overseas Filipino workers (OFWs), and will support the country’s thriving business-process outsourcing (BPO) sector. Finance Secretary Carlos G. Dominguez III said even with a strong dollar,...
THE Supreme Court (SC) has ruled that for purposes of determining the value-added tax (VAT) liability of health-care providers, the amounts earmarked and actually spent for medical utilization of its members should not be included in the computation of its gross receipts. Thus, in a 22-page ruling penned by Associate...
The Department of Finance (DOF) said on Thursday it wants more mining companies to support the Philippine Extractive Industries Transparency Initiative (PH-EITI), which currently has 36 supporter firms, to better implement reforms and good governance that help ensure sustainable mining in the country. The PH-EITI serves as a platform for dialogue...
The state-run Social Security System (SSS) said it will release on Friday P1.77 billion representing the second tranche of the additional P1,000 benefit of 218,000 pensioners who availed themselves of the 18-month advance pension, including those with death, disability and retirement (DDR) claims. “We are glad to inform our pensioners...
Faced with an insurgency and drug problems, the Philippines can take a page or two from the Colombia experience. With a population of about 48 million, the third-most populous in Latin America, Colombia is the world’s largest supplier of cocaine. It also has a 52-year-old insurgency movement, triggered by the...
The Land Bank of the Philippines (LandBank) on Wednesday launched a medicine-loan service that allows government and private-sector employees to avail themselves of affordable and quality medicines through their mobile phones. LandBank partnered with RiteMed, which is owned by pharmaceutical giant Unilab, and FINTQ, the financial arm of PLDT, to offer clients...
Net inflows of foreign direct investments (FDI) jumped 11 percent and surpassed the $1-billion mark in the first two months of the year on strong investors’ confidence in the economy. FDI—the investments brought by non-residents to the Philippines in hopes of a long-term yield—hit $1.05 billion as of end-February, or...
ON March 9, 2017, I wrote about “Association Governance Models”, and the two governance models for associations: the board-governed and -managed model (“volunteer-run” type), and the board-management delineated model (“volunteer-driven, staff-run” type). Whichever model your association is adopting, there will always be volunteers. But have you heard of “micro-volunteering”? Wikipedia...
Congress must ensure the Duterte administration’s Comprehensive Tax Reform Program (CTRP) balances the need for sizable cuts in personal income-tax (PIT) rates and higher tax collections to fund the government’s public investment program for inclusive growth, according to the Department of Finance (DOF). The DOF issued the statement after the...
Conclusion In this last (fourth) part of my notes, let me dwell on how a credit rating agency might analyze the credit quality of the financial assets that go into the “pool of assets” that back the payments (returns) on the securitized products or the securitization issue. It is, of course,...
The Bangko Sentral ng Pilipinas (BSP) on Monday announced its new rule allowing thrift and cooperative banks to invest in debt securities without prior approval from the Monetary Board (MB). In a circular published just recently, the central bank amended provisions in the manual of regulations for banks (MORB) in...
The Insurance Commission (IC) has issued a circular mandating a 2-percent increase in the investment threshold for preneed companies under the Pre-Need Code. The IC said Circular Letter 2017-28, which was issued last week, imposes a 2-percent increase in the investment threshold under the Pre-Need Code, thus making it reach...
The Bureau of the Treasury (BTr) on Monday fully awarded all three tenors of its Treasury bills (T-bills) on the back of ample liquidity in the market. A total of P15 billion in debt securities were awarded, while tenders reached P34.51 billion. National Treasurer Rosalia V. de Leon said the...
During the time of Moses, God gave him the 10 Commandments for his people to follow. If the people followed these commandments, then peace will reign. In the world of personal finance, we also need commandments that will give financial peace to us and our future generations.  Breaking these commandments...
The national government’s outstanding debt surged 4.3 percent to P18.512 trillion in the first quarter, compared to the P17.739-trillion debt in the same period in 2016, according to the Bureau of the Treasury (BTr). The BTr said domestic lenders accounted for the bulk of government’s outstanding debt, which expanded 3.3...
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