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Makati City
Thursday, March 23, 2017
Corporate governance is about promoting corporate fairness, transparency and accountability, former World Bank President John D. Wolfehnson defined. His definition may be summarized as the FAT principles of corporate governance.  And ethics is its underlying principle. Ethics is about integrity, honesty, uprightness, commitment to do what is right, good and...
Finance officials warned on Monday of an immediate credit downgrade for the Philippines and added pressure to borrow should the legislature reduce the personal income tax (PIT) without adopting the revenue-offsetting measures as proposed under the Comprehensive Tax Reform Program (CTRP), the Department of Finance (DOF) said. Without the offsetting...
Although commodities prices trended up in recent months, the Bangko Sentral ng Pilipinas (BSP) was seen remaining guarded on the pace of inflation over the near term, economists at a regional banking giant said. Singapore-based DBS Bank economist Gundy Cahyadi said he does not see inflation hitting the high 3-percent...
Finance Secretary Carlos G. Dominguez III only recently swore into office former Sen. Alberto G. Romulo as the new chairman of the board of the Development Bank of the Philippines (DBP). Rogelio V. Garcia, an esteemed member of the Philippine bar, was named director of the bank. Romulo served as finance,...
If you want to take control of your financial life, then you need to learn how to properly organize and keep your financial records and personal documents. I know some people who actually don’t like filing such papers but I believe it’s a necessary task if one were to...
Fortune Life Insurance  Co. will once again recognize Ines H. Jabines as its Insurance Specialist of the Year during its Annual Awards Night on Thursday, at the Citystate Tower Hotel, Manila. Jabines, conferred the same award last year, is also the top SSI Specialist and an awardee in the...
There is considerable confusion in government over whether the integrity of the excise stamp tax affixed on cigarettes and other excisable product has been compromised, its printers on Friday having asserted that none of the security features have been copied and passed off as genuine. This was stressed by government...
One of the Federal Reserve’s (the Fed) biggest skeptics about the strength of the global expansion signaled the US economy may be strong enough to withstand an interest-rate increase soon, as key policy-makers coalesce around tightening at their next meeting in mid-March. “Assuming continued progress, it will likely be appropriate...
FRANKFURT, Germany—Official figures are expected to show inflation in the 19-country euro zone rose again in February—a development that would further galvanize critics of the European Central Bank’s (ECB) stimulus efforts. The inflation number to be announced on Thursday could reach 1.9 percent, thanks to rising oil prices, according to...
Leading preneed company Eternal Plans Inc. (EPI) celebrates its 36th  anniversary today, March 3, at Citystate Hotel, Ermita, Manila. The theme of the celebration, “A Legacy of Commitment Continues...”, reaffirms the mission of its founder, Ambassador Antonio L. Cabangon Chua, to improve the lives of Filipinos. Initially offering a life...

In the midst of changes

“It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change” ­—Charles Darwin An organizational development consultant says, “The winds of change are life-generating opportunities, but the waves of development invariably require order and stability. There is always a paradox in...
The Senate Committee on Economic Affairs is putting the finishing touches on two bills mandating the submission to Congress of status reports on fiscal and monetary policies issued by the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas (BSP), as well as full disclosure of contingent liabilities...
The outstanding debt of the national government (NG) stood at P6.115 trillion in January this year, higher by 0.4 percent compared to the P6.090 trillion a month earlier. The increase developed on the back of net domestic debt issuances and by so-called third currency appreciation impacts on foreign currency-denominated...
The Department of Finance (DOF) on Wednesday said Secretary Carlos G. Dominguez III’s position on the mining policy of the Department of Environment and Natural Resources (DENR) is founded on the principles of due process of law and nonimpairment of contract obligations as enshrined in the 1987 Constitution. Finance Assistant...
Member engagement is one of the three components of the membership retention process in the association membership life cycle. In fact, it is considered the most vital of the two other components: renewal and reinstatement. Most association experts say member engagement “solves everything” in an association’s ever-challenging quest for...
MORGAN Stanley said it took a $70-million charge tied to tax-reporting errors by its brokerage business from 2011 to 2016. A provision to cover that charge increased 2016 noncompensation expenses by a similar amount, the New York-based firm said on Monday in an annual regulatory filing. Morgan Stanley is in “advanced discussions”...
THE Mining Industry Coordinating Council (MICC) technical working group (TWG) should know for sure by Friday this week how much it will cost to go over the mining contracts ordered closed or suspended by the Department of Environment and Natural Resources (DENR), according to Finance Secretary Carlos G. Dominguez III. At...
NEW regulations outlawing lending by individual persons and requiring that all such entities register themselves as lending companies resulted in the enlistment of some 200 informal lenders with the Securities and Exchange Commission (SEC). This was reported on Tuesday by SEC Chairman Teresita J. Herbosa, who told her boss, Finance Secretary...
I had recently arrived from a business trip to the US visiting Orlando, Boston and San Francisco, and observed how fast vehicles moved all the time. I was not really thinking too much about this, even when I was driving there, until I arrived back in Manila in the wee...
Finance  Secretary Carlos G. Dominguez III, cochairman of the Mining Industry Coordinating Committee (MICC), said a three-month review of the contracts of the mining operations ordered closed by Department of Environment and Natural Resources (DENR) is reasonable. According to the finance chief, while the three-month review of all the mining...