Banking & Finance

Senate President Aquilino “Koko” Pimentel III filed a counterpart measure to the Duterte administration’s pending tax reform bill in the House of Representatives as he underscored the importance of implementing tax policy and administration reforms meant to raise sufficient revenues for the government’s unprecedented public investment program, while at the same time plugging value added tax (VAT) leakages he estimated …

By Riza Lozada  State pension fund Government Service Insurance System (GSIS) has a new chairman in Dr. Francisco Duque III, former chairman of the Civil Service Commission (CSC). His term started after ceremonies held at the GSIS Head Office in Pasay City. 

The state-run Social Security System will seek the help of Congress to implement the mandatory coverage of Overseas Filipino Workers (OFWs) following its goal to expand its members’ coverage, while providing security protection for the country’s new heroes. 

With several tax reform packages now in the offing, tax seems to be on everyone’s mind. Not for Aling Lina though, the woman who sells fried plantains daily at the street corner. She practically works the whole day, whether attending to household chores, or earning a living that on good days brings in barely P200 a day. Besides, Lina said …

The government is exploring the possibility of opening a subsidiary of the Land Bank of the Philippines (LandBank) in Bahrain to cater to the banking needs of overseas Filipino workers (OFWs) living there and facilitate trade and investments between the Philippines and the island-kingdom, Finance Secretary Carlos Dominguez III said. 

The Sy group’s banking arm BDO Unibank (BDO) hit the 1,000-mark in terms of branches nationwide following the opening of another full-service outlet in Davao City last March 20. 

Bond yields in emerging East Asian markets fell between December 31 and mid-February despite the risk of accelerated pace of interest rate hikes in the United States (US), the Asian Development Bank’s (ADB) latest Asia Bond Monitor said.

Union Bank of the Philippines (UnionBank) received two Golds and one Silver at the recent 52nd Anvil Awards for its key corporate social responsibility (CSR) programs that seek volunteerism among its team members, conversion of micro, small and medium enterprises (MSMEs) into e-commerce, and heritage conservation of the nation’s history through digital methods. 

The next central bank head should have a good understanding of the Bangko Sentral ng Pilipinas (BSP) governor’s job, patience and a knowledge of how to work with the BSP which are the top three characters the next BSP chief must have, BSP Governor Amando Tetangco Jr. said.

By Riza Lozada Despite the still weak global economy, cash remittances from overseas Filipino work­ers (OFWs) grew by 8.6 per­cent from last year to $2.17 billion in January 2017, high­er than the Bangko Sentral ng Pilipinas (BSP) target of a four percent growth.