INDIAN PHARMACEUTICAL companies have been invited to establish research and manufacturing operations in the Philippines by the Philippine Chamber of Commerce and Industry (PCCI), ahead of Southeast Asian economic integration.
Mar 312015
Mar 312015
THE COMMISSIONER of Internal Revenue yesterday rejected a request from tax managers to defer penalties on taxpayers who fail to submit returns electronically, saying sufficient time has been given to comply with the rules.
Mar 312015
AN INTERNATIONAL telecommunications consortium has started building a $250-million submarine cable system that will directly connect Southeast Asia and the US, Globe Telecom, Inc., which is part of the group, said on Wednesday.
Mar 312015
THOSE familiar with the legal travails of the Bangko Sentral ng Pilipinas (BSP) know how much headache bank regulators have had in the many years that they have been trying to go after businessman and former banker Jose Go, whose Orient Bank collapsed in the 1990s. Well, it now seems that that headache is no longer exclusive to the BSP. We learned recently that United Coconut Planters Bank (UCPB) has been struggling with its own issues in going after some assets presently under the control of Go, who is also a former “mall magnate.” Here’s the story. In 2005, UCPB initiated the filing of three cases for unlawful detainer with damages (meaning that certain properties are being held by another party without a legal right to do so) against a Go-controlled firm called Superfriend Holdings Inc. with the Metropolitan Trial Court of Makati City. The bank properties in question are the Gotesco Caloocan Annex, Manila Plaza and Gotesco Corporate Center—all owned by UCPB and leased by Go, presumably with ownership changing hands after the latter ran into financial trouble. In 2006, the court granted UCPB’s plea and ordered Go’s Superfriend Holdings to pay its rental arrears and to vacate the leased premises. But then, Superfriend Holdings appealed the decision with the Regional Trial Court of Makati City, which then sided with Go and reversed the other court’s decision. So UCPB ran to the Court of Appeals, which, in 2009, agreed with the bank. It issued a resolution ordering the Makati Read More …
Mar 312015
I cordially invite you to come to this very special event that my boys and I are preparing for you – The Family FQ Workshop by the Faustos on May 9, 2015 1-5:30pm at the SMX Convention Center of SM Aura in Taguig City. But let me start with a background. I’m an advocate of purposeful parenting. I gave up a promising investment banking career to devote my focused and undivided attention to the growing up years of my sons. Then they grew up and I was pleased (well, more than pleased, very proud) of how they turned out to be, and midlife came and I felt the need to share what I knew about parenting; hence, the book Raising Pinoy Boys was born. In showbiz, they say, “Once an actress, always an actress.” Maybe in my case, “Once an investment banker, always an investment banker.” for the common favorite chapter of my first book turned out to be Chapter 6: Money Matters where I introduced the term FQ (Financial Intelligence Quotient). Readers probably found it weird but were amused that little boys had their own Balance Sheets. And so here I am sharing with you what I know about raising children with high FQ. I also believe that the proof of the pudding is in the eating so I find it always a delight when my sons come with me to my talks and help me in the Q&A portion. I guess the audience get a lot more insights Read More …
Mar 312015
MANILA, Philippines – With domestic tourism on the rise, more and more Filipino families are taking holiday road trips all over the country. Now celebrating its 30th year, Petron Lakbay Alalay, the country’s longest running motorist assistance program, has developed into a year-round road safety program and customer service advocacy to ensure safer, worry-free travel for everyone. Marking its 30th year milestone as the country’s pioneer motorist assistance program, Petron employees launched the Lakbay Alalay Volunteerism campaign last March 26 and 27. On-site and digital initiatives will also be undertaken to engage motorists to pledge for road safety. For the coming Holy Week break, identified pit stops along the major expressways—NLEX, Lakeshore, SLEX, TPLEX, and STAR Tollway—will offer various activities on April 1 & 2, and April 4 & 5, 2015. The expanded Petron Lakbay Alalay program will include services such as: free safety check for 2-wheel and 4-wheel vehicles; free medical assistance; free 15-minute massage; free food and drinks; a Kiddie Corner; freebies and games from partners; parking assistance; and free Wi-Fi and free cellphone charging area. The growing number of Petron Lakbay Alalay partners include: Chevrolet, Honda Cars, Honda Motorcycles, Honda Safety Driving Center, Motolite, Globe, Red Cross, Unilab, PhilCare, Purefoods Tender Juicy, San Mig Coffee, Jelly Sip, Pepsi, Magnolia Ice Cream, Polo Mints, Doña Maria, Nissin, Judge Candy, Glade, HBC, Bridgestone, CNN Philippines, and the Bureau of Fire Protection.
Mar 312015
Now they are telling us that a typhoon may be around just in time for Good Friday. Nothing should be more certain than a bright and hot summer day on Good Friday and the only thing we have to dread is that annual penitence of computing our taxes. Sure, there may be some afternoon drizzles after the Seven Last Word sermons have been delivered. But I take that as God’s way of dramatizing His message that all is forgiven and washed away with His ultimate sacrifice and we have the opportunity to start fresh. Afternoon April showers are just about the most welcome thing at this time of the year. More so as it seems the searing heat of the tropical sun had become more and more unbearable lately. I suspect the headache that comes as the temperature rises is because of age and the thought that we are about to part with the monetary value of four months labor to the tax collector. Four months we could have been on vacation… And for me, Joker Arroyo could have been another cause of a headache, but I give up trying to have a decent discussion with him. Just two things: I didn’t defend nuclear energy. I just said they took away 620MW and didn’t replace it, contributing to the blackouts. As for the late Sen. Vicente Paterno, I did report to him directly and traveled with him around the country and had time to talk. Business ( Article MRec Read More …
Mar 312015
MANILA, Philippines – Instant noodles, Instagram, instant information at your fingertips … all designed to save time and make our lives a little easier. Don’t you wish that the more important things in life – like being financially prepared for the “what if’s” of life, and having enough funds for future goals – were instant as well? Pioneer Life Inc. has made this wish come true, with InstaLife – a first-in-the-market variable unit linked (VUL) product that gives clients instant protection and while investing for their future. With its automatic acceptance feature, no medical tests are necessary to be covered. Clients are instantly insured upon application and payment of the first premium. InstaLife is open to individuals from 0 to 40 years old, making it perfect for young, single or married individuals who want to invest and at the same time be insured without the hassle of going through medical examinations and filling out lengthy health questionnaires. Some of its features include doubling your policy amount on the third policy year, receiving a death benefit equivalent to the sum of the policy amount and fund value, and investing in one of the country’s best performing managed and equity funds for long-term growth of your money. Award winning fund manager Fritz Ocampo has frequently cited Pioneer’s equity fund as one of the “most consistent top performer” in the market – its seven-year track record can be credited to its “good fund managers and very good investments team.” Business ( Article MRec Read More …
Mar 312015
MANILA, Philippines – The government’s borrowings fell by 33 percent last year, due largely to higher revenues and prudent management of its debt. Data from the Department of Finance showed that the government borrowed P369.06 billion from local and foreign sources to help fund state projects and programs and pay maturing obligations. The amount represented 66.5 percent of the P554.7 billion in loans the state took out in 2013. Of the total borrowings, the bigger share of P266.12 billion was sourced from the domestic market, mainly through the sale of Treasury bills and bonds. The amount was 48.9 percent lower than the P520.3 billion secured the previous year. Debt from foreign lenders, meanwhile, surged to P102.94 billion or three times the P33.8 billion recorded a year earlier. This comprised P56.6 billion in program loans, global bonds swap (P28.67 billion), and project loans (P17.64 billion). Foreign borrowings are done largely through the sale of sovereign bonds in the international capital market and by tapping cheap loans in the form of official development assistance (ODA) from multilateral development institutions. The biggest sources of ODAs are the World Bank, Asian Development Bank and Japan International Cooperation Agency. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 In December alone, borrowings reached P38.34 billion, of which P31 billion was sourced from domestic lenders. The country has seen the ratio of its debt-to-gross domestic product decline in the past few years from a peak of more than 70 percent a decade ago mainly due to Read More …
Mar 312015
MANILA, Philippines – The Philippine Stock Exchange index (PSEi) breezed through its 23rd record close of the year as it positioned itself less than a hundred points shy of the 8,000 mark yesterday. With one more trading session left before heading to the Holy Week break, the PSEi climbed 0.52 percent or 41.08 points to surge to its fifth consecutive winning streak at 7,940.49. After touching 8,000 mark on Monday, the index retested the level yesterday but failed to surpass the mark this time around. “The market continued to take its cue from the US after personal income and outlays rose 0.4 percent in February versus plus 0.3 percent estimates,” said Jason T. Escartin, investment analyst at F Yap Securities. Aside from the rise in US stocks, Alex Tiu said yesterday’s rise was also due to window dressing and overall rise in US stocks,” AB Capital Securities Inc. analyst Alex Tiu added. Asian stocks were generally higher as it took its cue from an overnight Wall Street rally. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Dow and S&P 500 added more than one percent each. Local counters were mixed at three apiece. Leading those in the green were property firms which climbed 1.60 percent or 50.28 points while mining and oil firms captained those in the red after losing 1.51 percent or 237 points. Tiu said the mining counter was pushed down by lower nickel prices. Market breadth was negative as decliners crushed advancers, 109 to 80, Read More …