A successful compromise agreement—a process initiated during the previous administration—added ₱714 million to national coffers last May, coming from the current owner of a Monet painting that had been sold overseas and formed part of the ill-gotten wealth of the late strongman Ferdinand E....
Sun Life of Canada (Philippines), Inc. maintained its lead in the domestic life insurance industry, posting ₱28.9 billion in premium income in the second quarter of the year. In a statement, the local unit of Sun Life of Canada, Inc. reported that premium earnings were nearly double the...
Villar Land Holdings Corp. maintained that its delay in submitting financial reports was caused by its external auditor’s varying requests for additional audit procedures regarding the valuation of properties acquired for Villar City. The firm confirmed in a statement on Thursday, Aug. 21, that...
The Securities and Exchange Commission (SEC) has fined Villar Land Holding Corp. and its officers a total of ₱12 million after denying the company’s request for an extension to file required financial reports, citing repeated failure to meet deadlines. The SEC’s investigation was prompted by...
The Philippine Stock Exchange has implemented new rules which give it the discretion to cancel trading in the event of natural disasters or terrorist attacks as well as during glitches in the bourse’s trading system. In a memorandum, PSE President and CEO Ramon S. Monzon said these rules have...
In a continued effort to broaden access to the Competitive Retail Electricity Market (CREM), the Energy Regulatory Commission (ERC) is seeking to fast-track the lowering of the threshold for retail competition to allow more end-users to benefit from Retail Competition and Open Access (RCOA). ERC...
Senate President Francis “Chiz” Escudero on Monday, August 18 named the initial nine members of the Commission on Appointments (CA) for the 20th Congress. The initial nine members are Senators 1. Ronald “Bato” Dela Rosa, 2. Joseph Victor “JV” Ejercito, 3....
The Philippine insurance industry posted a double-digit growth in terms of premium collections in the first six months of 2025, according to the Insurance Commission (IC). Latest data from the IC showed that combined premiums for both life and non-life insurance products reached ₱242.8 billion as...
The Securities and Exchange Commission (SEC) is planning to issue new rules that will no longer allow the extension of terms of independent directors of publicly listed companies beyond the nine-year limit but will also give them security of tenure during those nine years so they can speak freely...
The Securities and Exchange Commission (SEC) has drafted guidelines intended to clarify confusing rules on how companies can be exempted from having to register shares prior to their issuance. In a statement, the SEC said the draft rules seek to clarify exempt transactions under the Securities...
Securities and Exchange Commission Chairman Francis Ed. Lim urged the country’s leading financial executives to demonstrate ethical leadership, as the Philippine capital market has lagged behind its regional counterparts due to a lack of integrity. “Integrity is the invisible currency of our...
While the Commission on Elections (Comelec) made it clear that government contractors are prohibited from making donations to election candidates, it may come out differently if it were made in a personal capacity. "Sa aking palagay iyan ng magiging mabigat na depensa nung naturang tao (In my...
