Approved foreign investment pledges increased by nearly half in the second-quarter of the year, the Philippine Statistics Authority (PSA) reported Thursday, Sept. 9. psa-logo Based on the PSA data, total foreign investments in the country reached P22.5 billion in April to June 2021, an increase of...
Senator Richard Gordon on Sunday, Sept. 4 urged lawmakers to expedite the passage of the bill that would encourage the entry of more investments in Central Luzon. Gordon is referring to Senate Bill No. 1549 or the Regional Investment and Infrastructure Coordinating Hub (RICH) of Central Luzon which...
Some 28 business and professional organizations in the country have expressed strong support as they called to uphold the independence of the Commission on Audit, which has uncovered “deficiencies” in its audit on the way government funds were being appropriated by government agencies. “We,...
Top Frontier Investment Holdings Inc., the owner of 67 percent of San Miguel Corporation, reported that its net income soared 802 percent to P28.15 billion in the first half of 2021 from the P4.01 billion net loss suffered in the same period last year. In a disclosure to the Philippine Stock...
The Insurance Commission (IC) wants to remove variable insurance products from the list of mutual fund schemes to avoid increasing costs for consumers and defeating the goal of financial inclusion for all Filipinos. Sec. Dominguez and Comm. Funa In a letter to Finance Secretary and Capital Market...
The Department of Finance (DOF) said the growing roster of real estate investment trust (REIT) offerings will propel the growth of the Philippines’ property sector beyond the pandemic, serving as one catalyst for the country's quick and strong recovery. In a statement, Finance Secretary Carlos G....
A Real Estate Investment Trust or REIT is not something new but its significance became more pronounced as real estate companies began to ramp up their REIT portfolio or began to offer this among their products. For those who are not deep into the real estate industry but want to find new...
Sun Life Philippines has created a wealth management company catering to institutional investors and high-net-worth individuals who are looking to generate additional profit. In a statement, Benedict Sison, Sun Life Philippines chief executive officer and country head said they have officially...
The Bureau of Immigration (BI) recently intercepted at the Ninoy Aquino International Airport (NAIA) a Chinese national wanted by his government over a large-scale, Internet-based pyramiding investment racket. (Photo by Glenn Carstens Peters/ Unsplash) BI Commissioner Jaime Morente said 56-year-ol...
Five alleged scammers, believed to have milked millions of pesos from their victims, were arrested in a joint entrapment operation launched by the National Bureau of Investigation (NBI), the Securities and Exchange Commission (SEC), and the Anti-Red Tape Authority (ARTA) in Quezon City this week....
Some 16 local and foreign business groups have strongly urged for the immediate enactment of the proposed Financial Consumer Protection (FCP) Act, which seeks to protect consumers amidst the growing complexity in financial services, especially digital services. In a statement the business group...
Fitch Ratings has revised the Philippines’ outlook to “Negative” from “Stable” due to the national government’s weakening fiscal finances brought about by the prolonged coronavirus pandemic. Fitch Ratings Building In a statement released Monday evening, July 12, the London-based credit...
