With tough times ahead, austerity is the new buzzword. Yes, Virginia, we are in belt-tightening mode. The legs of inflation have walked their way into every aspect of basic services, with no apparent de-escalation of hostilities on the horizon. As an emerging economy, the Philippines is believed to...
President Ferdinand R. Marcos Jr.’s chief economic manager said the economic team is in dialogue with the Philippines’ development partners, including the Asian Development Bank (ADB), to secure ample funding for the country’s power and fuel needs. “We are in constant discussion with our...
Oil industries expressed support for the removal of the 12 percent value-added tax (VAT) on petroleum products at the point of importation, saying the move would be easier to implement and would directly lower pump prices. During the second organization meeting of the Senate Proactive Response and...
The Philippines can quarantine a virus, but it cannot quarantine the global oil market. This is the warning from one of the architects of the country’s pandemic recovery, who argues that the current fuel shock could be a more ruthless economic adversary than Covid-19. While the health crisis was...
The Global Finance Convention (GFC) is the premier flagship event organized by the Management of Financial Institutions Association (MaFIA) of De La Salle University–Manila. Now in its 10th year, MaFIA remains committed to sparking high-level discussions by providing a professional and...
The Securities and Exchange Commission (SEC) has penalized lending firm Nittan Capital Finance Inc. (NCFI) for failing to completely disclose to borrowers its charges, interest rates, amortization, and other fees prior to the signing of a loan agreement. In an order dated Feb. 13, the SEC’s...
The ongoing conflict has created economic shockwaves, leaving the oil supply hanging in the balance and price pressures threatening our collective affordability. Yes Virginia, there’s no stopping inflation from rearing its ugly head. It could stay with us indefinitely depending on the resolution...
A Senate panel on Wednesday, March 11, approved "in principle" the proposals that would grant President Marcos powers to either suspend or reduce excise tax on fuel amid rising fuel costs. "In principle, the members who attended are supportive of the main principle of the bill, which is to give...
The Securities and Exchange Commission (SEC) ordered Digido Finance Corp. to permanently stop its financing activities after finding that the firm continued operations despite the revocation of its corporate registration and secondary license last year. In a Feb. 18 order, the SEC’s Financing and...
Manila Mayor Francisco "Isko Moreno" Domagoso announced the city government 's successful purchase of the land for the soon-to-be-built brand new Ospital ng Tondo on Tuesday, Feb. 24, as part of its ongoing efforts in ensuring the Minimum Basic Needs (MBN) of Manileños. Domagoso had earlier...
Who knew that helping a friend find her way to a finance job application on Mabini Street could launch a long-term career in fiscal management? For Maria Teresa Habitan, that chance act was the first of many “happy accidents” that would shape her rise to veteran status. Habitan first stepped...
Nomura Holdings Inc. warned that the Philippines’ credit rating outlook faces a potential downgrade to “negative” if lingering corruption scandal involving flood control funds remains unresolved, threatening to derail the country’s progress toward an “A” grade rating. In a monthly...
