34 C
Makati City
Friday, April 28, 2017
PUBLIC-ADVOCACY groups Action for Economic Reforms (AER) and the Foundation for Economic Freedom (FEF) fear President Duterte would not have the financial resources to pursue his plans and programs as a result of continued legislative inaction on the Chief Executive’s Comprehensive Tax Reform Program (CTRP). The CTRP, under House Bill...

Associations meet Japan

THE Japan National Tourism Organization (JNTO) invited me to its five-day “Meet Japan” event, which was comprised of two parts: a study tour program and a convention trade mart session that introduced the country’s international convention cities to 11 participating international association executives from nine countries. I was the lone...
Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., acknowledged as one of the best central bankers anywhere, warned against protectionist tendencies that countries under the Asean might adopt and, by this measure, threaten the buoyant growth trajectory of the 10-nation regional economic bloc down the line. In a recent...
The Insurance Commission (IC) has adopted guidelines now requiring all health-maintenance organization (HMO) products to pass regulatory muster before these are sold to the public. According to Insurance Commissioner Dennis B. Funa, all HMO products must pass prior IC scrutiny. The guidelines require the submission of HMO-client contracts, schedule of...
Asia United Bank (AUB) and its subsidiaries posted a net income of P2.3 billion for the year 2016, 52 percent higher than the P1.5 billion the year before. Total assets stood at P165.5 billion, 8 percent higher than the same period in 2015. AUB’s gross interest revenue rose to P7.3...

A time to reflect

“Lent stimulates us to let the Word of God penetrate our life and in this way to know the fundamental truth: Who we are, where we come from, where we must go, what path we must take in life....”—Pope Benedict XVI Most of us look forward to the yearly Easter...
Consumer prices in Indonesia and Thailand grew at a slower pace than economists predicted last month, giving central banks in Southeast Asia’s two biggest economies scope to keep interest rates low for longer. Annual inflation in Indonesia was 3.6 percent in March, compared with the median estimate of 3.8 percent...
The World Trade Organization (WTO) is urging developing nations to integrate digital payments into their economies, which are keys to boosting e-commerce important for growth and development. WTO Director General Roberto Azevedo considered digital payments as entry points for financial inclusion. “Technological advances, especially in mobile technology, have provided alternative solutions—and...
The 12th Asean Finance Ministers Investor’s Seminar (Afmis) happening in Cebu City aims to tackle ways of further harnessing investment opportunities within the 10-member regional bloc, according to the Department of Finance (DOF). Government officials who will welcome the region’s finance bigwigs include Finance Secretary Carlos G. Dominguez III, who is...
The Department of Finance (DOF) has reiterated the need to pass tax reform measures to raise additional revenue to fund the country’s infrastructure program and investment needs. Finance Undersecretary Karl Kenneth Chua said such infrastructure program of the Department of Public Works and Highways (DPWH) consists of major highways, expressways...
Union Bank of the Philippines (UnionBank) has partnered with Swiss private bank Lombard Odier, a leading global wealth and asset manager, to offer a new global fund for upscale clients. The multiasset global fund has a risk profile matching UnionBank’s specific needs and aimed at its ultrahigh net-worth clients. The...
Two-and-a-half months have passed, and how many of us have faltered with our New Year’s resolution? I’ll be the first to plead guilty. At least when it comes to health and fitness, I already failed several days into the year. It’s not for the lack of trying. A big...
By Kathryn Kristina T. Jose @kathryntjose Executives at Planbank, the largest rural bank in Laguna, seek the removal of the income-tax return (ITR) as primary loan requirement by the Bangko Sentral ng Pilipinas (BSP) on low-income borrowers, especially the farmers, suggesting, instead, a focus on the provision of agricultural facilities...
Residential real-estate prices continued to accelerate in the fourth quarter of 2016, but the pace of its expansion slowed down significantly during the period. The Bangko Sentral ng Pilipinas (BSP) said the residential real-estate price index (RREPI) launched in 2016 rose to only 113.9, from 113.4 the previous quarter. The RREPI...
The big three credit-rating agencies, especially Fitch Ratings, are watching with a keen eye how smoothly the transition happens as the Bangko Sentral ng Pilipinas transits from BSP Governor Amando M. Tetangco Jr. to whoever it is President Duterte will appoint as agency head come July 3. Fitch said the...
Veteran China dealmakers at Wall Street banks and Western buyout firms are heading for the exits, in search of the more lucrative deals and higher remuneration offered by smaller funds. Three senior merger advisory bankers from Goldman Sachs Group Inc., Bank of America Corp. and Lazard Ltd. have resigned within the...
Planbank, the largest rural bank in Laguna with two branches in Bulacan province, expands its microlending program  in Southern Tagalog region as it launches its 15th branch in Batangas City today, March 31. Planbank Batangas City is at the Grand Transport Terminal complex on Diversion Road, Barangay Alangilan, Batangas City. The...
WASHINGTON—Federal Reserve (the Fed)  Chairman Janet Yellen said on Tuesday that US banks must do all they can to promote economic development in low-income areas where high unemployment has persisted despite the overall job market’s significant gains. Yellen told community development groups that banks are needed, not just to provide...
THE Department of Environment and Natural Resources (DENR) has rolled out an Integrated Area Development Plan (IADP) for Aroroy, a gold-rich town in Masbate Province. The DENR, Filiminera Resources Corp. (Filiminera), Philippine Gold Processing and Refining Corp. (PGPRC) and the local government unit (LGU) of Aroroy signed an agreement for...
The New York-headquartered Fitch Ratings affirmed on Wednesday the country’s positive credit outlook, signaling a probable upgrade for the $292 billion Southeast Asian nation over the next 12 to 18 months. In a statement released on Wednesday, Fitch Ratings said it retained the Philippines' basic rating of triple B minus (BBB-) but...
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