Mergers and consolidations are becoming a key item to consider for senior insurance executives. According to data from the Insurance Commission, the number of life insurance players has decreased to 31 in 2014 from 33 in 2011. In nonlife, the decline is more apparent, with 70 firms last year compared with 83 in 2011.
PRESIDENT Benigno S. C. Aquino III is scheduled to meet business groups during his four-day state visit to Japan, highlighting the prospect of trade agreements to be sealed during the trip, though security matters are also expected to come to the fore when he meets with leaders of the Japanese government.
DAVAO CITY — Commercial fishing in the Davao Gulf is suspended for the next three months starting June 1 after the Bureau of Fisheries and Aquatic Resources (BFAR) implemented a closed season for the second year running to allow fish stocks to recover.
ILOILO CITY — Sugar industry stakeholders met here last week with officials of the Sugar Regulatory Administration (SRA) to discuss the implementing rules and regulations (IRR) for Republic Act No. 10659, the Sugarcane Industry Development Act of 2015, signed into law last March 27.
SENATORS on Monday have passed on third and final reading Senate Bill No. 2686, also known as the Department of Information and Communications Technology (DICT) Act of 2015. A counterpart bill in the House of Representatives has yet to get through the committee level.
A MEASURE which expands the coverage of the Malampaya gas fund to include repairs to power lines and structures damaged by calamities has been approved by a House of Representatives panel.
Recently, I personally received several calls from taxpayers seeking clarification as to the consequence of a one-day late payment of tax. There are also indications that the Bureau of Internal Revenue (BIR) is sending notices to some taxpayers making late payments, as a precursor to a full-blown tax audit.
THE PHILIPPINE BUSINESS Groups and Joint Foreign Chambers (PBG-JFC) said they submitted letters to lawmakers, suggesting changes to a proposed law imposing a monitoring system for tax incentives given to exporters.
AT LEAST 250 congressmen must show up for a valid vote on the Constitutional amendment to relax foreign ownership restrictions on certain types of assets, a senior House official said.
In the world of business and financial reporting, there is an ongoing debate on whether audited financial statements provide sufficient useful information to the various stakeholders, and how such useful information can be provided beyond these financial statements. The phenomenon of globalization and ever-growing connectivity add fuel to this debate, resulting in the increasing pressure and expectation to establish a better linkage between reporting financial and non-financial information, corporate behavior and performance, and investment decision-making.