DTI says reforms to improve investment climate

THE Department of Trade and Industry (DTI) said reforms being carried out by the government are expected to improve the investment climate in the Philippines, and invited large economies to help developing countries expand their trade. In a statement on Monday, Trade and Industry Secretary Ramon M. Lopez issued the call for “global inclusiveness” during […] The post DTI says reforms to improve investment climate appeared first on BusinessWorld......»»

Category: newsSource: bworldonline bworldonlineMar 19th, 2018

Enhanced investment transparency sought

There is a need to improve the information content of the country's foreign investment negative list (FINL) in order to provide potential investors with a clearer perspective of the local business climate, which in-turn, is expected to attract foreign direct investment (FDI), a development consultant said. In a policy note,….....»»

Category: newsSource:  journalRelated NewsJun 19th, 2018

Dominguez urges Swiss investors to invest in the Philippines

THE DEPARTMENT of Finance (DoF) has invited Swiss businessmen to set up shop in the Philippines as the Duterte administration pursues more reforms to streamline investment amid its wide consumer base. “We hope Swiss businesses could find a home here — a happy one. We are working very hard to improve the ease of doing […] The post Dominguez urges Swiss investors to invest in the Philippines appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 2nd, 2018

2 key PH reforms cited in World Bank Doing Business report

Two key reforms implemented by the Philippines in the past year to improve the business climate for small and medium enterprises has been cited in the the World Bank Group’s Doing Business 2018: Reforming to Create Jobs......»»

Category: newsSource:  interaksyonRelated NewsNov 2nd, 2017

BSP outlines reforms for fund management, debt and FX sectors

The central bank wants to improve the attractiveness of personal retirement accounts by making them accessible online to give Filipinos real-time access to their investments and allow them to choos.....»»

Category: newsSource:  philippinetimesRelated NewsSep 25th, 2018

Mark Cuban donates $10M after Mavericks workplace probe

NBA press release The NBA today issued the following statement about the report by independent investigators regarding workplace conditions at the Dallas Mavericks, following allegations made in a Feb. 20, 2018 Sports Illustrated article: Upon learning of the allegations, Dallas Mavericks owner Mark Cuban notified the NBA and an independent investigation was launched with oversight from the league office. Anne Milgram, former Attorney General of New Jersey, a Professor of Practice and Distinguished Scholar at New York University School of Law, and currently Special Counsel at Lowenstein Sandler LLP, and Evan Krutoy, who spent more than 20 years as a prosecutor in the Manhattan District Attorney’s office and currently heads Krutoy Law, P.C., led the seven-month investigation. The league’s oversight function was led by David Anders, a partner at Wachtell, Lipton, Rosen & Katz and a former Assistant U.S. Attorney for the Southern District of New York. The report was based on information gathered from 215 interviews with current and former Mavericks employees who worked for the team during the past two decades and from the evaluation of more than 1.6 million documents, including emails and other electronic documents. Following the launch of the independent investigation, the Mavericks, under Mr. Cuban’s direction, hired a new Chief Executive Officer, Cynthia Marshall, a former AT&T senior executive, who has since implemented a massive overhaul to improve the organization’s workplace culture. While the investigation was ongoing, Mr. Cuban and Ms. Marshall took a series of steps to enhance the team’s workplace policies and procedures. Under Ms. Marshall’s direction, the Mavericks have replaced or added several new leadership positions in the organization, including a new head of Human Resources, a Chief Ethics and Compliance Officer, a head of Diversity & Inclusion and a new General Counsel. The Mavericks also instituted mandatory “Respect in the Workplace” training for all employees and ownership; created a confidential hotline for employees to share concerns, issues or allegations of misconduct; and established employee resource teams and an external advisory council to ensure a more diverse and collaborative work environment. Ms. Milgram’s and Mr. Krutoy’s extensive investigation, with full cooperation from Mr. Cuban and the Mavericks organization, resulted in a detailed understanding of the scope and substance of the issues. Among the investigation’s key findings: - The investigation substantiated numerous instances of sexual harassment and other improper workplace conduct within the Mavericks organization over a period spanning more than twenty years. - Among other things, the investigation found:     - Improper workplace conduct toward fifteen female employees by the Mavericks’ former President and CEO Terdema Ussery, including inappropriate comments, touching, and forcible kissing;     - Improper workplace conduct by former Mavericks ticket sales employee Chris Hyde, including inappropriate comments to women of a sexual nature, the viewing and sharing of pornographic images and videos, unsolicited and unwanted sexual advances, and violent and threatening outbursts toward co-workers; and     - Two acts of domestic violence perpetrated by former reporter Earl Sneed, including one against a team employee. - The investigators concluded that Mavericks’ management was ineffective, including a lack of compliance and internal controls, and that these shortcomings permitted the growth of an environment in which acts of misconduct and the individuals who committed them could flourish.  In particular, the investigators found:         - The Mavericks executive leadership team failed to respond adequately and committed a significant error in judgment by retaining Mr. Sneed following his domestic violence incidents; and         - The Mavericks’ executive leadership team was responsible for allowing Mr. Hyde to remain employed with the organization despite his inappropriate and problematic behavior, and failed adequately to address his various acts of misconduct.         - The investigators found no evidence that Mr. Cuban was aware of Mr. Ussery’s misconduct.  None of the 215 witnesses who were interviewed stated that they informed Mr. Cuban of Mr. Ussery’s actions, the investigators found no documentary evidence of such a communication, and Mr. Cuban stated that he did not know about the conduct.   The investigation report also contains a series of recommendations for changes to the Mavericks’ organization, including:     - Increasing the number of women on staff, including in leadership positions;     - Enhancing formal reporting processes for victims of misconduct;     - Implementing regular anonymous employee surveys to evaluate workplace culture; and     - Expanding and improving the Mavericks’ Human Resources department and instituting clear protocols for investigating workplace misconduct. The report confirms that several of these steps have already been taken, including the hiring of Ms. Marshall and other new senior female leaders, and notes that “we heard from employees of a sea change in the professional environment at the Mavericks that began almost immediately following” the publication of the Sports Illustrated article. In recognition of the institutional and other failures set forth in the report, Mr. Cuban has agreed to contribute $10 million to organizations that are committed to supporting the leadership and development of women in the sports industry and combating domestic violence.  These organizations will be selected by an advisory council of leaders from the Mavericks, including Mr. Cuban and Ms. Marshall, and the NBA, including President of Social Responsibility & Player Programs Kathy Behrens, President of Team Marketing & Business Operations and Chief Innovation Officer Amy Brooks, and Chief Diversity & Inclusion Officer Oris Stuart. Additionally, the NBA is requiring the Mavericks to:         - Provide the league office with quarterly reports regarding the recommendations set forth in the report and their implementation;         - Immediately report to the league office any instances or allegations of significant misconduct by any employee;         - Continually enhance and update annual “Respect in the Workplace” training for all staff, including ownership; and         - Implement a program to train all staff, including ownership, on issues related to domestic violence, sexual assault, and sexual harassment. “The findings of the independent investigation are disturbing and heartbreaking and no employee in the NBA, or any workplace for that matter, should be subject to the type of working environment described in the report,” said NBA Commissioner Adam Silver. “We appreciate that Mark Cuban reacted swiftly, thoroughly and transparently to the allegations first set forth in Sports Illustrated – including the immediate hiring of Cynthia Marshall as CEO to effect change, but as Mark has acknowledged, he is ultimately responsible for the culture and conduct of his employees. While nothing will undo the harm caused by a select few former employees of the Mavericks, the workplace reforms and the $10 million that Mark has agreed to contribute are important steps toward rectifying this past behavior and shining a light on a pervasive societal failing -- the inability of too many organizations to provide a safe and welcoming workplace for women.” Following the allegations made in the Sports Illustrated article, the NBA conducted a thorough review of its existing policies and procedures related to respect in the workplace, and required all NBA teams to do the same. In addition, the league established a confidential leaguewide hotline for team and league employees to report workplace misconduct including, but not limited to, sexual harassment, discrimination and retaliation.  While many of the recommendations contained in the investigation report are already part of established practice at the league office, any that are not will shortly be adopted. The report of the independent investigation is available here......»»

Category: sportsSource:  abscbnRelated NewsSep 19th, 2018

Gatchalian champions pro-consumer liberalization reforms

September 13, 2018. Senator Win Gatchalian has vowed to champion liberalization reforms to build an inclusive, efficient, and competitive business environment in the Philippines, saying that the resulting influx of foreign direct investment (FDI) will bring about “game-changing benefits” for Filipino… Source link link: Gatchalian champions pro-consumer liberalization reforms.....»»

Category: newsSource:  manilainformerRelated NewsSep 13th, 2018

$126 million lost every day to natural disaster in Asia-Pacific

HANOI --- Two years ago, Asia-Pacific lost US$126 million a day due to natural disasters.   In 2016, 0.4 percent of the Asia-Pacific region's GDP was lost to natural disasters, with some 11.2 million people displaced. By the year 2030, GDP losses are estimated hit 1 percent.   In percentage of annual capital investment, 2016's loss amounted to 5 percent of the figure, a very high number compared to other parts of the world such as Europe and Central Asia.   Many Asean countries are among the most affected by climate change, especially the Philippines and Vietnam, said a report by the United Nations International Strategy for Disaster Reduction (UNISDR...Keep on reading: $126 million lost every day to natural disaster in Asia-Pacific.....»»

Category: newsSource:  inquirerRelated NewsSep 13th, 2018

Duterte’s Israel trip seen to boost economic ties

By Arjay L. Balinbin, Reporter THE PHILIPPINE government is expected to ink up to 15 private sector agreements during President Rodrigo R. Duterte’s official visit to Israel this week, Philippine Ambassador to Israel Nathaniel G. Imperial said. “I think the President wants to improve our economic relationship, especially the areas of trade and investment. And… link: Duterte’s Israel trip seen to boost economic ties.....»»

Category: newsSource:  manilainformerRelated NewsSep 2nd, 2018

Malaysia debt watcher raises Philippine rating further into investment grade

THE PHILIPPINES bagged a credit rating upgrade from a Malaysian debt watcher, which cited progress on the infrastructure front and reforms which are expected to help sustain economic growth. The post Malaysia debt watcher raises Philippine rating further into investment grade appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsAug 31st, 2018

Short-term SC chief vows judicial reforms

Newly appointed Chief Justice Teresita Leonardo-de Castro doesn’t mind serving in the top Supreme Court post for less than two months, vowing to institute key additional reforms to improve the judiciary......»»

Category: newsSource:  philstarRelated NewsAug 27th, 2018

Customer-first investment at CEB: Presenting Cebu Pacific Customer Command Center

Today’s customers act, and react, at lightning speed. They spread the word about their experience—good or bad—with comments and images captured across a dizzying range of social media platforms. Seeing that social media has become the foremost venue for ordinary people to voice out their issues and concerns, Cebu Pacific has decided to invest in a 24/7 Customer Command Center—its first major step towards revamping its services and improve passenger experience......»»

Category: newsSource:  kagay_anRelated NewsAug 14th, 2018

Moody’s: Growth, reforms support PH’s Baa2 rating

The Philippines’ investment grade credit rating of Baa2, which comes with a stable outlook, is supported by a “large and fast-growing economy and continued gains in debt affordability”, Moody’s Investors Service said on Wednesday. “These positive features are balanced against low per capita incomes and, relatedly, low revenue-raising capacity compared to other Baa-rated countries,” the [...] The post Moody’s: Growth, reforms support PH’s Baa2 rating appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsAug 1st, 2018

Better regulations seen key to more innovation

THE PHILIPPINES needs more reforms in the regulations for small businesses to improve the country’s environment for innovation, according to INSEAD business school......»»

Category: financeSource:  bworldonlineRelated NewsJul 30th, 2018

PH Leaps to 60th Spot in Logistics Performance Index

The Philippines continues to improve its global ranking with the latest World Bank Logistics Performance Index (LPI) 2018 edition. From 71st spot in 2016, the country leaped to 60th among 160 countries ranked according to their trade logistics performance. “We are now reaping the fruits of the government’s reforms and these are seen globally. Guided […].....»»

Category: newsSource:  metrocebuRelated NewsJul 30th, 2018

PH leaps to 60th spot in Logistics Performance Index

The Philippines (PH) continues to improve its global ranking with the latest World Bank Logistics Performance Index (LPI) 2018 edition.  From 71st spot in 2016, the country leaped to 60th among 160 countries ranked according to their trade logistics performance. “We are now reaping the fruits of the government’s reforms and these are seen globally. […].....»»

Category: newsSource:  boholnewsdailyRelated NewsJul 28th, 2018

Moody s: Federalism, contentious policies worry investors

MANILA, Philippines – Moody's Investors Service kept its investment-grade rating for the Philippines, but warned against threats to the economy due to  political developments and a possible shift to federalism . Moody's maintained a stable outlook on its Baa2 rating on Philippine debt and expected the economy to improve. ........»»

Category: newsSource:  rapplerRelated NewsJul 21st, 2018

How competitive is the Philippine economy today?

In overall competitiveness, the Philippines is only better than Cambodia, Laos, and Myanmar today. We have been overtaken by Vietnam and Indonesia in most competitive indicators in the last two years. This is not to say that the Philippines did not improve. We did, especially between the years 2010 to 2015. In the last two years, however, the rest of the region accelerated their reforms while the Philippines remained static given the disruption of the national elections and the period of adjustment of the new administration......»»

Category: financeSource:  bworldonlineRelated NewsJul 15th, 2018

Insurance designed to improve life expectancy

BPI-Philam CEO Surendra Menon believes insurance should be more about life Bancassurance firm BPI-Philam Life Assurance Corp. is moving away from the customer’s mindset that insurance is all about mitigation. An ounce of prevention and protection is worth a pound of investment. That is the message being indicated by BPI-Philam CEO Surendra Menon, who took [...] The post Insurance designed to improve life expectancy appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 1st, 2018

Philippine international investment position improves in Q1 on lower debt

The country’s international investment position continued to improve in the first quarter of the year amid the contraction in total financial liabilities, a report released by the Bangko Sentral ng Pilipinas showed......»»

Category: financeSource:  philstarRelated NewsJun 29th, 2018

Japan to share energy know-how under PH deal

“The technical assistance is needed for Filipinos to get more value for their money, in terms of investment, energy development and utilization.” Tokyo, Japan — The Philippines and Japan agreement signed a technical cooperation to improve electric infrastructure and efficiency of local power plants. Energy Secretary Alfonso Cusi and Deputy Director-General of the Japan’s Ministry […].....»»

Category: newsSource:  tribuneRelated NewsJun 23rd, 2018