Personal Finance & Business News
Banks well equipped to comply with capital rule (Jan. 16)
The Bangko Sentral ng Pilipinas (BSP) is convinced that banks operating in the Philippines are well equipped to comply with the tighter capitalization requirement under Basel III.
Small Banks On Robust Expansion (Jan. 15)
The Bangko Sentral ng Pilipinas (BSP) has received over 500 applications from banks requesting new licenses to open branches in the eight restricted areas of Metro Manila that the BSP has opened up after a 15-year moratorium on bank branching.
SEC revokes license of suspected boiler room firm (Jan. 15)
The Securities and Exchange Commission (SEC) has revoked the operating license of First Asia Client Depository Services Inc. (FACDS) for fraud committed in the procurement of its registration certificate.
SSS to validate pensioners' eligibility (Jan. 14)
Pensioners of Social Security System (SSS) will be required to report to their depository bank or any of the pension fund’s branches starting this year to validate their eligibility to continue to receive pensions.
PDIC shells out P12 billion for depositors of Legacy Group (Jan. 14)
State-run Philippine Deposit Insurance Corp. (PDIC) has shelled out close to P12 billion to insured depositors of the 12 banks under the Legacy Group as the government continues to run after officials led by bank owner Celso delos Angeles.
OFW remittances seen growing 5-7% this year (Jan. 14)
First Metro Investment Corp. (FMIC), a unit of the Metrobank Group, and the University of Asia and the Pacific (UA&P) see the amount of money being sent home by Filipinos abroad growing between five percent and seven percent this year.
SSS targets more OCW memberships (Jan. 13)
The Social Security System (SSS) is targeting to raise membership of 50 to 70 percent of overseas contract workers (OCWs) in five years as this sector has the potential to generate potentially a huge P4.68 billion for the pension fund monthly.
DOLE: 4 million overseas and local jobs await jobseekers in 2012 (Jan. 12)
As many as four million local and overseas jobs will become available for Filipino jobseekers this year, the Department of Labor and Employment (DOLE) said.
SSS launches new amnesty program (Jan. 11)
State-run Social Security System (SSS) said it will launch a new amnesty program starting April this year to encourage members with overdue loans to settle their unpaid principal and interest without paying the full amount of penalties.
Stocks climb to new record high (Jan. 11)
The local stock market hit a new record high yesterday, mirroring global equity gains and positive investor sentiment on the country’s economy.
Poll: 4 of 10 say economy worsened in 2011 (Jan. 10)
Nearly four of 10 Filipinos thought the economy in 2011 was worse than in the previous year, results of a Pulse Asia survey conducted in November showed.
Gov't Selling 2 RTB Tranches (Jan. 10)
The Aquino administration will likely sell two retail bond tranches targeted at small investors within the first-semester and second-half of the year, the Bureau of Treasury said.
US outsourcing bill alarms DTI (Jan. 10)
Trade and Industry Secretary Gregory L. Domingo was alarmed by the anti-outsourcing sentiment in the Obama administration even as he vowed to mount a strong lobby in the US Congress against a proposed bill that seeks to ban outsourcing and offshoring activities of American companies of their non-core functions to other countries including the Philippines.
Peso Volatility Eases In 2011 (Jan. 8)
The local currency vis-à-vis the US dollar last year maintained its strength despite heightened risk aversion sentiments due to lingering concerns over the debt crisis in Europe as well as worries over the weak global economy.
Dec inflation eases to 11-mo low of 4.2% (Jan. 6)
The nationwide inflation rate eased to 4.2 percent in December, from 4.8 percent in November, bringing the annual average for 2011 to 4.8 percent, the National Statistics Office (NSO) reported
Banks taken over by PDIC reach 29 in 2011 (Jan. 5)
The state-run Philippine Deposit Insurance Corp. (PDIC) took over 29 banks last year as more problematic banks were ordered closed by the Bangko Sentral ng Pilipinas (BSP).
Consumer demand seen to pick up (Jan. 5)
This year will be a good year for the manufacturing industry as consumer demand is expected to go up, according to Trade and Industry Undersecretary Cristino L. Panlilio.
DOLE monitors US BPO firms in Phl (Jan. 5)
The Department of Labor and Employment (DOLE) is closely watching over the possible slowdown in the operations of American-owned business process outsourcing (BPO) firms in the country.
PhilHealth says group diverted P100 M in members' premiums (Jan. 4)
The Philippine Health Insurance Corp. (PhilHealth) has uncovered a syndicate inside the agency that has embezzled more than P100 million in premiums paid by members since 2009.
BSP Sees Inflation Benign Outlook (Jan. 4)
A benign inflation outlook affords the Philippine central bank the policy flexibility to spur growth in the domestic economy amid global uncertainty, Bangko Sentral ng Pilipinas (BSP)Deputy Governor Diwa Guinigundo said.
Manufacturing To Flourish In 2012 (Jan. 4)
The manufacturing sector is expected to flourish this year following the huge investments in various industries that were approved in the past two years, said Trade and Industry undersecretary Cristino L. Panlilio.
Palace to focus on economy (Jan. 3)
Malacañang’s focus this year will be on the economy. Presidential spokesman Edwin Lacierda said P141.8 billion worth of infrastructure projects would be implemented this month to push the economy forward.
Banks seen more cautious this year but still readying investment plans (Jan. 3)
If they were wary last year, local banks are extremely more cautious in 2012 but while the global and domestic market and economic uncertainties may keep financial institutions from becoming too aggressive or optimistic with their outlook, it will not derail expansion plans especially for opening new branches.
Special deposit accounts jump 34% to P1.66 trillion (Jan. 3)
Funds parked in the vault of the Bangko Sentral ng Pilipinas (BSP) in the form of special deposit accounts (SDAs) rose 34 percent last year as investors continued to seek high yielding investment instruments due to a lack of major infrastructure and development projects in the country.
Economy to grow 6% this year - UA&P (Jan. 2)
The Philippine economy is likely to expand by at least six percent this year as government spending improves, an economist said in a report.
Government to boost local employment programs (Jan. 2)
This year, the government is strengthening programs for the promotion of local employment as well as those that would give jobs to workers displaced by tropical storm “Sendong.”
BSP okays new microfinance loan (Jan. 2)
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved a new microfinance loan called “microfinance plus” that microenterprises and small businesses can avail of to fund their expanding operations.
DBS sees inflation easing to 4% this year (Jan. 1)
Singapore-based DBS Bank Ltd. sees inflation in the Philippines easing this year giving the Bangko Sentral ng Pilipinas (BSP) enough room to support economic growth by cutting interest rates.
Performance of PSEi in 2011 3rd best in the world (Jan. 1)
Defying the effects of repeated shocks to the global economy, the Philippine Stock Exchange earned a spot as among the best equity performers for 2011 even without the anticipated Santa Claus rally.
OFWs to pay higher PhilHealth premiums next year (Dec. 31)
Starting next week, millions of overseas Filipino workers (OFWs) will pay twice the amount they are paying in insurance premiums to the state-owned PhilHealth Corp., Batangas Rep. Mark Llandro Mendoza revealed.
BSP set to monitor potential systemic bank weaknesses (Dec. 31)
The Bangko Sentral ng Pilipinas (BSP) would closely monitor potential systemic weaknesses in the country’s banking system next year amid the fragile economic growth in advanced economies led by the US and the debt crisis in Europe.
BPO employment opportunities still robust (Dec. 30)
Ninety-eight percent of applicants registered in the country’s online job matching system, the Phil-JobNet, prefer local jobs even as employment opportunities in the business process outsourcing (BPO) sector continue to remain robust.
SWS: 95% of Pinoys enter 2012 with hope (Dec. 29)
Despite gloomy global economic forecasts and a string of natural calamities that hit the country this year, nine out of 10 Filipinos still face the New Year with hope, the latest Social Weather Stations (SWS) survey showed.
COA: Gamblers, drug pushers gained from CCT (Dec. 29)
Government money spent on the conditional cash transfer (CCT) program, which is supposed to be given to the poorest of the poor, end up in the hands of gamblers, drug pushers and even rich people, the Commission on Audit (COA) has learned.
DOLE: Jobs await OFWs returning from Syria (Dec. 28)
New jobs and other forms of assistance await the thousands of overseas Filipino workers (OFWs) returning from Syria, the Department of Labor and Employment (DOLE) reported.
Bank and NGO synergy encouraged (Dec. 28)
The Bangko Sentral ng Pilipinas (BSP) said there are advantages to having related non-governmental organizations (NGOs) or foundations that are also engaged in microfinance services and the BSP still encourage NGOs to become regulated financial institutions (RFIs).
House OKs bill banning collection of fees from nurse trainees (Dec. 27)
The House of Representatives has approved on third and final reading a bill prohibiting the collection of fees from nurse trainees by public and private hospitals and similar institutions.
Banks well equipped to comply with capital rule (Jan. 16)
The Bangko Sentral ng Pilipinas (BSP) is convinced that banks operating in the Philippines are well equipped to comply with the tighter capitalization requirement under Basel III.
Small Banks On Robust Expansion (Jan. 15)
The Bangko Sentral ng Pilipinas (BSP) has received over 500 applications from banks requesting new licenses to open branches in the eight restricted areas of Metro Manila that the BSP has opened up after a 15-year moratorium on bank branching.
SEC revokes license of suspected boiler room firm (Jan. 15)
The Securities and Exchange Commission (SEC) has revoked the operating license of First Asia Client Depository Services Inc. (FACDS) for fraud committed in the procurement of its registration certificate.
SSS to validate pensioners' eligibility (Jan. 14)
Pensioners of Social Security System (SSS) will be required to report to their depository bank or any of the pension fund’s branches starting this year to validate their eligibility to continue to receive pensions.
PDIC shells out P12 billion for depositors of Legacy Group (Jan. 14)
State-run Philippine Deposit Insurance Corp. (PDIC) has shelled out close to P12 billion to insured depositors of the 12 banks under the Legacy Group as the government continues to run after officials led by bank owner Celso delos Angeles.
OFW remittances seen growing 5-7% this year (Jan. 14)
First Metro Investment Corp. (FMIC), a unit of the Metrobank Group, and the University of Asia and the Pacific (UA&P) see the amount of money being sent home by Filipinos abroad growing between five percent and seven percent this year.
SSS targets more OCW memberships (Jan. 13)
The Social Security System (SSS) is targeting to raise membership of 50 to 70 percent of overseas contract workers (OCWs) in five years as this sector has the potential to generate potentially a huge P4.68 billion for the pension fund monthly.
DOLE: 4 million overseas and local jobs await jobseekers in 2012 (Jan. 12)
As many as four million local and overseas jobs will become available for Filipino jobseekers this year, the Department of Labor and Employment (DOLE) said.
SSS launches new amnesty program (Jan. 11)
State-run Social Security System (SSS) said it will launch a new amnesty program starting April this year to encourage members with overdue loans to settle their unpaid principal and interest without paying the full amount of penalties.
Stocks climb to new record high (Jan. 11)
The local stock market hit a new record high yesterday, mirroring global equity gains and positive investor sentiment on the country’s economy.
Poll: 4 of 10 say economy worsened in 2011 (Jan. 10)
Nearly four of 10 Filipinos thought the economy in 2011 was worse than in the previous year, results of a Pulse Asia survey conducted in November showed.
Gov't Selling 2 RTB Tranches (Jan. 10)
The Aquino administration will likely sell two retail bond tranches targeted at small investors within the first-semester and second-half of the year, the Bureau of Treasury said.
US outsourcing bill alarms DTI (Jan. 10)
Trade and Industry Secretary Gregory L. Domingo was alarmed by the anti-outsourcing sentiment in the Obama administration even as he vowed to mount a strong lobby in the US Congress against a proposed bill that seeks to ban outsourcing and offshoring activities of American companies of their non-core functions to other countries including the Philippines.
Peso Volatility Eases In 2011 (Jan. 8)
The local currency vis-à-vis the US dollar last year maintained its strength despite heightened risk aversion sentiments due to lingering concerns over the debt crisis in Europe as well as worries over the weak global economy.
Dec inflation eases to 11-mo low of 4.2% (Jan. 6)
The nationwide inflation rate eased to 4.2 percent in December, from 4.8 percent in November, bringing the annual average for 2011 to 4.8 percent, the National Statistics Office (NSO) reported
Banks taken over by PDIC reach 29 in 2011 (Jan. 5)
The state-run Philippine Deposit Insurance Corp. (PDIC) took over 29 banks last year as more problematic banks were ordered closed by the Bangko Sentral ng Pilipinas (BSP).
Consumer demand seen to pick up (Jan. 5)
This year will be a good year for the manufacturing industry as consumer demand is expected to go up, according to Trade and Industry Undersecretary Cristino L. Panlilio.
DOLE monitors US BPO firms in Phl (Jan. 5)
The Department of Labor and Employment (DOLE) is closely watching over the possible slowdown in the operations of American-owned business process outsourcing (BPO) firms in the country.
PhilHealth says group diverted P100 M in members' premiums (Jan. 4)
The Philippine Health Insurance Corp. (PhilHealth) has uncovered a syndicate inside the agency that has embezzled more than P100 million in premiums paid by members since 2009.
BSP Sees Inflation Benign Outlook (Jan. 4)
A benign inflation outlook affords the Philippine central bank the policy flexibility to spur growth in the domestic economy amid global uncertainty, Bangko Sentral ng Pilipinas (BSP)Deputy Governor Diwa Guinigundo said.
Manufacturing To Flourish In 2012 (Jan. 4)
The manufacturing sector is expected to flourish this year following the huge investments in various industries that were approved in the past two years, said Trade and Industry undersecretary Cristino L. Panlilio.
Palace to focus on economy (Jan. 3)
Malacañang’s focus this year will be on the economy. Presidential spokesman Edwin Lacierda said P141.8 billion worth of infrastructure projects would be implemented this month to push the economy forward.
Banks seen more cautious this year but still readying investment plans (Jan. 3)
If they were wary last year, local banks are extremely more cautious in 2012 but while the global and domestic market and economic uncertainties may keep financial institutions from becoming too aggressive or optimistic with their outlook, it will not derail expansion plans especially for opening new branches.
Special deposit accounts jump 34% to P1.66 trillion (Jan. 3)
Funds parked in the vault of the Bangko Sentral ng Pilipinas (BSP) in the form of special deposit accounts (SDAs) rose 34 percent last year as investors continued to seek high yielding investment instruments due to a lack of major infrastructure and development projects in the country.
Economy to grow 6% this year - UA&P (Jan. 2)
The Philippine economy is likely to expand by at least six percent this year as government spending improves, an economist said in a report.
Government to boost local employment programs (Jan. 2)
This year, the government is strengthening programs for the promotion of local employment as well as those that would give jobs to workers displaced by tropical storm “Sendong.”
BSP okays new microfinance loan (Jan. 2)
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved a new microfinance loan called “microfinance plus” that microenterprises and small businesses can avail of to fund their expanding operations.
DBS sees inflation easing to 4% this year (Jan. 1)
Singapore-based DBS Bank Ltd. sees inflation in the Philippines easing this year giving the Bangko Sentral ng Pilipinas (BSP) enough room to support economic growth by cutting interest rates.
Performance of PSEi in 2011 3rd best in the world (Jan. 1)
Defying the effects of repeated shocks to the global economy, the Philippine Stock Exchange earned a spot as among the best equity performers for 2011 even without the anticipated Santa Claus rally.
OFWs to pay higher PhilHealth premiums next year (Dec. 31)
Starting next week, millions of overseas Filipino workers (OFWs) will pay twice the amount they are paying in insurance premiums to the state-owned PhilHealth Corp., Batangas Rep. Mark Llandro Mendoza revealed.
BSP set to monitor potential systemic bank weaknesses (Dec. 31)
The Bangko Sentral ng Pilipinas (BSP) would closely monitor potential systemic weaknesses in the country’s banking system next year amid the fragile economic growth in advanced economies led by the US and the debt crisis in Europe.
BPO employment opportunities still robust (Dec. 30)
Ninety-eight percent of applicants registered in the country’s online job matching system, the Phil-JobNet, prefer local jobs even as employment opportunities in the business process outsourcing (BPO) sector continue to remain robust.
SWS: 95% of Pinoys enter 2012 with hope (Dec. 29)
Despite gloomy global economic forecasts and a string of natural calamities that hit the country this year, nine out of 10 Filipinos still face the New Year with hope, the latest Social Weather Stations (SWS) survey showed.
COA: Gamblers, drug pushers gained from CCT (Dec. 29)
Government money spent on the conditional cash transfer (CCT) program, which is supposed to be given to the poorest of the poor, end up in the hands of gamblers, drug pushers and even rich people, the Commission on Audit (COA) has learned.
DOLE: Jobs await OFWs returning from Syria (Dec. 28)
New jobs and other forms of assistance await the thousands of overseas Filipino workers (OFWs) returning from Syria, the Department of Labor and Employment (DOLE) reported.
Bank and NGO synergy encouraged (Dec. 28)
The Bangko Sentral ng Pilipinas (BSP) said there are advantages to having related non-governmental organizations (NGOs) or foundations that are also engaged in microfinance services and the BSP still encourage NGOs to become regulated financial institutions (RFIs).
House OKs bill banning collection of fees from nurse trainees (Dec. 27)
The House of Representatives has approved on third and final reading a bill prohibiting the collection of fees from nurse trainees by public and private hospitals and similar institutions.
More News Items
- PRC sees more jobless nurses (Dec. 26)
- 15 thrift, rural banks tap BancNet services (Dec. 26)
- No sign of property bubble in Phl - Tetangco (Dec. 26)
- Target of doubling exports by 2016 still achievable (Dec. 26)
- BSP okays 2 rural banks' bid to sell microinsurance (Dec. 24)
- Peso least volatile currency in Asia - BSP (Dec. 23)
- Phl forex reserves seen hitting historic high in 2012 (Dec. 22)
- Banks' NPL ratio improves (Dec. 22)
- Poultry industry claims losses of P10.329 billion (Dec. 22)
- GSIS Housing Fund Now Available (Dec. 21)
- Government to hire 93,000 personnel next year, says lawmaker (Dec. 19)
- OFW families saving more in 4th quarter (Dec. 19)
- PSE sees higher market activity (Dec. 19)
- Phl banks resilient amid Euro crisis - IMF (Dec. 19)
- Business More Optimistic In 2012 (Dec. 18)
- DepEd now ready to implement K+12 basic education curriculum (Dec. 17)
- 9 of 10 Pinoys face new year with hope - survey (Dec. 16)
- PNB, Allied bank merger finalized (Dec. 16)
- Typhoon damages pull down consumer confidence in Q4 (Dec. 16)
- More OFWs hired despite global financial crisis (Dec. 15)
- Peso drops to weakest level in 10 months (Dec. 15)
- Binay to look into delay in release of titles to Pag-IBIG members (Dec. 10)
- Euro debt problem continues to hound market (Dec. 10)
- Fitch says Phl banks to remain stable despite global slowdown (Dec. 7)
- House OKs watered-down changes in anti-money launder law (Dec. 6)
- BSP Approves 162 Bank Branches (Dec. 6)
- Bank services could suffer under proposed changes to reserve reqm't (Dec. 6)
- Lower power rates seen in 3-5 years (Dec. 5)
- Banks agree to retain employees affected by outsourcing (Dec. 3)
- Phl call center agents lead in absenteeism (Dec. 3)
- Local insurance industry now heads to period of solid growth (Dec. 3)
- Phl no longer dependent on OFW inflows - P-Noy (Dec. 2)
- Contact Center Industry Accelerating Growth (Dec. 1)
- Bakers Pledge To Maintain Prices (Dec. 1)
- 40% of Filipino workers now take work home to finish (Nov. 30)
- Contract workers to get full perks (Nov. 30)
- 15 thrift, rural banks tap BancNet services (Dec. 26)
