Going a step further

 Economy
Nov 302013
 
Going a step further

Quezon City has always been a pioneer in giving its residents a cleaner and greener place to live in. In 2009, the QC government passed its “green building” ordinance, which requires the design, construction, or retrofitting of building, other structures and movable properties to meet minimum standards of a green infrastructure. But how do we know if a building is “green” in the true sense? There are a number of green building rating systems worldwide which provide for a third-party certification, monitoring and verification system. The rating system LEED, or Leadership in Energy and Environmental Design developed by the US Green Building Council which started in 1998 and has been applied to more than 7,000 projects in the US and 30 other countries is considered as the most widely adopted and prestigious, if not the most expensive and most difficult to attain. To have LEED certification is therefore something that every developer aspires. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The planned Green School by the Multiple Intelligence International School (MIIS) in Quezon City, therefore, comes as a big boost to the city’s green building initiative. This pioneering project will be the first-ever LEED-certified educational institution in the Philippines. It carries a green, sustainable design that ensures minimal carbon footprint while, at the same time, promoting the protection of the ecosystem. It employs an innovative wastewater technology and water management facility that features a network of water collection facilities, such as rain gardens, underground storm water storage, and Read More …

Money supply expands to P6.3 T in October

 Economy
Nov 302013
 
Money supply expands to P6.3 T in October

MANILA, Philippines – Demand for money continues to grow in October  as domestic liquidity (M3) rose 32.5 percent year-on-year to P6.3 trillion, Bangko Sentral ng Pilipinas (BSP) data showed. The rise was slightly faster than the 31.3 percent expansion recorded in September. M3 is one of the economic indicators being watched closely by the central monetary authority as this may have an impact on the country’s inflation rate. It consists of money supply, peso, savings and time deposits and deposit substitutes of money generating banks or deposit money banks. If the M3 level is high, this means there is too much money in the financial system. which may trigger inflationary pressures. On a month-on-month basis, seasonally-adjusted M3 increased two percent, similar to the expansion record the previous month. The BSP attributed the money supply growth to the sustained  expansion in domestic claims, or credits to the domestic economy. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Domestic claims grew 11.6 percent in October from 10.9 percent in September due to the continued increase in claims on the private sector (16.2 percent), in line with the sustained growth in bank lending. Net claims on the public sector, on the other hand, rose five percent in October, largely as a result of the increase in credits to the government. Net foreign assets (NFA) also grew 10.5 percent, from 7.7 percent in September. The BSP said its NFA position improved on the back of robust foreign exchange inflows from remittances, BPO receipts Read More …

Sales and numbers

 Economy
Nov 302013
 
Sales and numbers

People from the sales department are so dynamic and noisy, while people from the finance or accounting department are usually quiet and serious. Oftentimes, they clash. But sales and numbers shouldn’t clash. Sometimes, it’s dangerous to have a finance person head an organization. Sometimes, the numbers person just sees numbers and doesn’t see potential. Cost-cutting is done here and there, but risks aren’t taken in order to expand a business. I’ve spent many years in business consultancy, and while I don’t discount the necessity of cost cutting and being financially prudent, I’ve yet to see a company that has shrunk its way to greatness. Sometimes it’s also dangerous to have a sales person head an organization, especially if the sales executive isn’t interested in numbers. Coming from a sales background, he or she is most probably a “Can Do! Will Win! Rara-rara!” person and may be obsessed with just bringing in the sales, viewing any kind of company policy either a stumbling block or a stepping stone. This may bring the company to the ground. The head of an organization needs to be a finance person who’s also a people person, somebody equipped with financial prudence, yet optimistic and excited with possibilities. The top honcho of the organization should also be a sales person who understands the importance of numbers, and carries enough fiscal sense to be careful in taking risks. In other words, you need to have a finance person who’s a salesman and a salesman who’s a finance Read More …

Learn how to collect debts without using a lawyer

 Economy
Nov 302013
 
Learn how to collect debts without using a lawyer

MANILA, Philippines – Good news!  Whether you are a sole proprietor, a small or medium-sized enterprise, a large-scale company, a financing institution or a financier, collecting money from abusive debtors has now been made easier. You can present and argue your case in court with no lawyer required. You can have a speedy trial with your case heard and resolved in one day with the judge’s final, executory, and non-appealable decision. The Center for Global Best Practices is launching a pioneering seminar entitled, “Best Practices Guide in Using the Small Claims Court:  How to Collect Debt Without Using a Lawyer” on Thursday, Dec. 12, 2013 at the EDSA Shangri-la Hotel, Mandaluyong City, Philippines. The establishment of the Small Claims Court has made settlement of collection cases more convenient, less complicated and generally hassle-free. When you need to collect P100,000 and below that amount against non-paying debtors, all you have to do is to file your cases in the small claims court. Yes, you can easily do it yourself. No lawyers needed. No costly litigation expenses, no delays with speedy resolutions of your collection cases. Learn all of these and empower yourself in this one-day comprehensive program where you will be taught the rules and procedures on what to file, where to file, how to file your collection cases in this practical, easy to understand and comprehensive program. What if your total collection is beyond P100,000? The amount limit does not include interests and costs. Thus, an indebtedness of P100,000 that Read More …

Local banks urged to prepare for Asean integration

 Economy
Nov 302013
 
Local banks urged to prepare for Asean integration

MANILA, Philippines – Local banks should start preparing for the ASEAN 2015 integration to be able to compete with their counterparts in the region, results of a recent survey by Sungard, one of the world’s leading software and technology services companies, noted. “There is a strong potential that local banks may compete with other banks in the region but they have to be prepared for it,” Sungard vice president of product management for retail banking business Dean Young said. Young said it would be best for local banks to jumpstart efforts to improve their customer relations. Though there have been indications based on Sungard’s latest survey that Filipino depositors have strong ties and are loyal to their primary banks, there is  still a possibility that depositors may tap other banks if they are performing better than the existing local banks. Although the Philippine economy has moved up 30 spots in the latest Ease of Doing Business 2014 Report released by the World Bank and International Finance Corp., new consumer research undertaken by Sungard has found that banks in some of the world’s fastest-growing emerging markets are still struggling to meet evolving customer expectations.  In the Philippines, Sungard said banks have yet to leverage customer demand for an improved, integrated customer multichannel experience.  Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “This is negatively impacting the customer experience and driving a trend towards multiple banking relationships, which could affect future profitability and agile growth,” the survey said. “Despite the fact Read More …

Exclusivity or misclassification?

 Economy
Nov 272013
 

TAX incentives are one of the main factors that drive foreign investments into the Philippines; however, confusing interpretations on how to avail of such incentives may be a hindering force that prompts investors to bring their business elsewhere. This ambiguity is made apparent in an administrative tax ruling issued on the deductibility of certain costs incurred by a company registered with the Philippine Economic Zone Authority (PEZA), one of the incentive-giving bodies of the government.

FedEx delivers P430M worth of aid to typhoon-hit areas

 Economy
Nov 252013
 
FedEx delivers P430M worth of aid to typhoon-hit areas

Ground crew receiving the relief supplies which arrived from FedEx regional hub at the Los Angeles International Airport in Los Angeles, U.S. MANILA, Philippines – FedEx Corp. has teamed up with Direct Relief and Heart to Heart International to deliver over $10 million (P430 million) worth of relief aid and medical supplies to communities ravaged by Super Typhoon “Yolanda.” The shipment, containing about 90,000 kilos of personal care and hygiene items, pharmaceuticals, and first aid kits departed from Los Angeles on November 23 and arrived at the Mactan International Airport in Cebu on November 25. “FedEx team members around the globe, in Asia Pacific and in particular the Philippines,are committed to assisting with the recovery effort,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express. “FedEx has a long history of connecting non-profit organizations with communities in need, especially in the wake of a disaster of this scale. We are privileged to be using our extensive global network and logistical expertise to bring relief supplies to victims of the typhoon.” Krystal Barr, interim chief executive officer of the humanitarian group Heart to Heart International, said they can make a positive impact for the Filipinos with the relief efforts for the typhoon victims. “With a disaster of this magnitude, it is imperative that Heart to Heart International rapidly respond with critically-needed aid and supplies,” she said. Meanwhile, Direct Relief President Thomas Tighe said the relief efforts for the typhoon-ravaged areas have logistical challenges.  Business ( Article MRec ), pagematch: 1, Read More …

 Older Entries  Newer Entries