SSS urges members to review payments in line with new rates

 Economy
Oct 122013
 
SSS urges members to review payments in line with new rates

MANILA, Philippines – The Social Security System (SSS) has advised members who already paid advance premiums to review and update their payments in line with the new contribution rate and maximum monthly salary credit (MSC) that will take effect beginning January 2014. SSS president and chief executive officer Emilio S. de Quiros Jr. said individually-paying members such as the self-employed, voluntary and OFWs who have paid contributions in advance based on the minimum MSC for the applicable months of January 2014 onwards should settle the difference that will result from the new prescribed minimum amount of contribution. Under the new contribution schedule, the corresponding monthly contribution will be P110 for the minimum MSC of P1,000, P550 for the minimum MSC of P5,000 for OFWs, and P1,760 for the maximum MSC of P16,000. “The difference between the existing and new corresponding amount of contribution will be an underpayment on the part of the member who has paid in advance. With respect to the revised contribution schedule, a self-employed or voluntary member who remitted a minimum premium of P104 in advance for January next year will automatically incur an underpayment of P6 while the prescribed minimum contribution of P520 by an OFW will be short by P30,” De Quiros explained. Advance payments less than the required minimum contribution will not be considered by the SSS unless underpayment is settled. As a result, members with underpayments may face problems availing SSS benefits and services that often require a number of qualifying contributions. To Read More …

Globe’s Cu highest ranking Filipino in Power 100

 Economy
Oct 112013
 
Globe’s Cu highest ranking Filipino in Power 100

MANILA, Philippines – Globe Telecom president and CEO Ernest Cu is the highest ranking Filipino to make to it to the Global Telecoms Business Power 100 for 2013. Power 100 is the magazine’s annual list of the 100 most powerful people in telecoms worldwide. Cu made it to number 66, besting another Filipino chief executive who made it to the list. Global Telecoms Business is the only magazine and website dedicated for senior executives of telecommunication companies worldwide. “Our chosen path to position Globe as a challenger brand has been successful and our efforts are being recognized globally.  Our transformation efforts and the business gains we have achieved over the past several years despite heightened competition have created a stronger, preferred brand for our customers,” Cu said, referring to the company’s revenue and subscriber growth in recent years amid transformation initiatives involving mainly its network and IT infrastructure. Global Telecoms Business cited Cu’s direction in leading the company while undertaking a network and IT modernization program. The publication noted that Globe Telecom has close to 40-percent market share in the Philippines. Cu was appointed chief executive of Globe Telecom in 2009. At the end of the first half, Globe Telecom’s total mobile subscriber base reached a fresh record high, exceeding 36 million at the end of the June this year, driven by the success of its customizable and value-based product offerings amid rising demand for mobile browsing services.  The company’s total subscriber base of 36.1 million at the end of Read More …

Jaquar unleashes the F-Type

 Economy
Oct 082013
 
Jaquar unleashes the F-Type

MANILA, Philippines – The Jaguar C-Type roamed the asphalt jungle from 1951 to 1953. Its predecessor—the predictable named D-Type—prowled the streets and racetracks from 1954 to 1957.  Then came the immortal E-Type. This icon of a predatory sports car enchanted onlookers and ruled the racing circuits for a seemingly eternal length of time: 1961 until 1974. Such was the dominance and sheer beauty of the E-Type that it lasted that long. Such, too, was its incomparable accomplishments that it took the legendary carmaker from Coventry almost four decades to come up with a worthy successor.  But that successor is here now. Needless to say, it’s called the F-Type. And it represents no less than the company’s heart: a two-seat, front-engine/rear-wheel-drive convertible sports car focused on performance, agility and driver involvement. This is also a continuation of a sporting bloodline that dates back more than 75 years. And in a move to keep the Jaguar tradition and commitment to continuous innovation, Jaguar Cars, Inc. (JCI) has unleashed the F-Type at the Jaguar Lifestyle Centre at Bonifacio Global City, Taguig. “The ownership of a Jaguar has never been a stronger statement globally. Its performance is all about the aspects of engineering and technological excellence,” said Wellington Soong, Chair and President of Jaguar Cars, Inc. “This is also a tribute to Sir William Lyon’s ‘Poetry in Motion.’” Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Jaguar F-Type V8 S Petrol combines low vehicle weight (starting at 3,521 pounds, thanks to its Read More …

RC Cola bottler expands Cebu operations

 Economy
Oct 082013
 
RC Cola bottler expands Cebu operations

ASIAWIDE Refreshments Corp. (ARC), the licensed Philippine bottler of RC Cola, has expanded its operations in Cebu, a move that is expected to better serve RC Cola’s growing consumer base in the province. “The company’s engagement in the province will enable us to align the Visayas market with the growth of Asiawide and RC Cola in other areas,” said Gerry T. Garcia, executive vice president and chief operating officer of ARC. As one of the key cities in the Philippines, Cebu is a major cola market and a gateway to the Visayas region. “It is an independent market from Manila but it has always mirrored Manila in terms of being urbanized and having a developed consumer market,” he said. Although the province represents a new frontier for ARC, Cebu is not a new consumer base for RC Cola. Garcia said that in the 1990s when RC Cola sales were still struggling in Metro Manila, the brand was already a success story in the Cebu-Visayas region. “The point is we have yet to fully exploit the potential of RC Cola. That’s why we are excited about this development,” said Garcia. He said Cebu will be treated as an investment market and ARC in Luzon can re-channel part of its manpower and equipment there as needed. He said there is an opportunity to enhance RC Cola’s product line-up in Cebu to cater to different price points and tastes, as the company works to optimize the brand’s availability in the market thereby becoming Read More …

Managing fraud and corruption in Asia Pacific

 Economy
Oct 062013
 

THERE HAS BEEN much talk about how rapid growth markets (RGMs) are expected to be the drivers of the global economy over the next decade. RGMs are countries that emerged from the 2008 recession with minimum damage and which project significant growth. They include a number of economies from the Asia Pacific region. While this is certainly cause for cautious optimism, it also raises the concern that the pressure for these markets to generate growth may also increase the risk of fraud, bribery, and corruption.

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