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IC approves Pru Life UK, Robinsons Bank sales deal

THE INSURANCE Commission (IC) has approved the bancassurance deal between Robinsons Bank Corp. and Pru Life UK. In a statement sent to reporters on Monday, the IC announced it has approved the partnership between the British insurer and the Gokongwei-led bank. “[The approval] will enable [Pru Life UK] to sell its traditional life insurance products […] The post IC approves Pru Life UK, Robinsons Bank sales deal appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineApr 16th, 2018

Insurance Commission approves bancassurance deal between PruLife, Robinsons Bank

The Insurance Commission has given PruLife Insurance Corp. of UK and Gokongwei-led Robinsons Bank Corp. the go-signal to execute their bancassurance agreement......»»

Category: financeSource:  philstarRelated NewsApr 18th, 2018

Robinsons Bank, Pru Life forge bancassurance deal

By Karl Angelo N. Vidal ROBINSONS BANK Corp. signed a bancassurance partnership with British life insurer Pru Life UK yesterday in a bid to bolster its product offerings. In the distribution agreement signing held yesterday in Quezon City, Robinsons Bank President and Chief Executive Officer Elfren Antonio S. Sarte said the three-year bancassurance partnership will […] The post Robinsons Bank, Pru Life forge bancassurance deal appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 9th, 2018

Robinsons Bank, Pru Life partner for bancassurance

Gokongwei-led Robinsons Bank Corp. and British life insurer Pru Life UK launched their bancassurance partnership after receiving the green light from regulators......»»

Category: financeSource:  philstarRelated NewsJun 27th, 2018

RRHI nets P1.2B

Gokongwei-led Robinsons Retail Holdings Inc. (RRHI) grew its first quarter net income by 21.7 percent year-on-year to P1.2 billion on higher sales and improved margins. Three-month operating income increased by 10 percent year-on-year on the back of the 20-basis point gain in gross margins and same store sales growth (SSSG) of 6.4 percent for the period, coupled with an increase in foreign exchange gains. Core net earnings -- which exclude interest from bonds, equitized net earnings from RHHI's 40 percent stake in Robinsons Bank and unrealized foreign exchange adjustments - increased by 13.7 percent year- on-year to P958 million. Consolidated net sales expanded by 12.6 pe...Keep on reading: RRHI nets P1.2B.....»»

Category: newsSource:  inquirerRelated NewsMay 14th, 2018

Despite long odds, Toronto Raptors will continue to fight

By Steve Aschburner, NBA.com CLEVELAND – Losing the first game is a relative wake-up call, no big deal, a call to tweak and adjust. Losing the first two is urgent, something more troubling, a sense of one’s playoff life flashing before one’s eyes. Losing four? It’s oh-vah. Oh-four is 1, 2, 3, Cancun, “gone fishin’” and next season rolled into one. That leaves an 0-3 deficit, which mostly is sad. At 0-3, the story essentially has been written, a struggling team’s fate decided. In the NBA, there is no wiggle room whatsoever – 129 teams in league playoff history have fallen behind 0-3 in a best-of-seven, 129 teams have lost those series. Only three such teams even rallied enough to force a Game 7: the 1951 Rochester Royals against New York, the 1994 Denver Nuggets against Utah and the 2003 Portland Trailblazers against Dallas. And yet, nothing is official. The plug hasn’t been pulled, flatline or not. That was evident Sunday (Monday, PHL time) when someone asked Toronto’s Kyle Lowry one of those big-picture, assess-this-season questions. “Our season ain’t over yet,” the Raptors point guard said, instinctively pushing back. “Ask me that question when it’s over.” Narrator: It’s over. Most who stayed up late Saturday (Sunday, PHL time) consider Toronto’s series against the Cleveland Cavaliers to be over not only because they trail 0-3 but because of the way they got there. Specifically, LeBron James’ unlikely, drive-left, shoot-right, one-footed bank shot at the buzzer that won it, 105-103. It enthralled the sellout crowd at Quicken Loans Arena, but appalled the Raptors’ traveling party of three dozen or so. Folks who care probably have watched the final play multiple times. The Raptors officially haven’t watched it other than in real time. Coach Dwane Casey intentionally did not subject his players to a film session Sunday (Monday, PHL time). “We know what the issues are, what they were,” Casey said after the team’s light workout at the practice gym inside the Cavaliers’ arena. “From a team standpoint, 17 turnovers broke our back. Some of our schematic things we didn’t cover properly broke our back. The things that led up to the end of the game are what we need to clean up.” More precisely, it was the things that led up to the fourth quarter that cost Toronto. From that point, the Raptors were pretty good, outscoring the Cavaliers 38-26 while sinking seven of their 11 three-point shots. They got all the way back from a 14-point deficit in the quarter, tying at 103 only to have their hearts stomped on by James’ spectacular finish. Before that final quarter, though, Toronto was too reckless with the ball. It had missed 16 of its 22 from the arc. And one of its two All-Stars, wing DeMar DeRozan, had played his way to Casey’s bench, with 3-of-12 shooting, unimpressive defense, a mere eight points and a minus-23 rating. Casey’ explanation for not putting DeRozan back in the game was simple: The guys he was using were rolling. It was a snapshot of the bottom-line approach he and his staff will need again in Game 4 Monday (Tuesday, PHL time). DeRozan, naturally, doesn’t want anything like it to happen again. This LeBron/Cleveland stuff has been heavy enough: nine consecutive playoff defeats, three straight postseasons being put out by the Cavaliers and, personally, the onus in this man’s NBA of 2018 to be 0-for-16 from three-point range in the 13 playoff games since 2016. DeRozan didn’t run from the lousy stew of frustration, anger, resignation and embarrassment he felt while his brothers kept plugging. As Saturday turned into Sunday – an “extremely long night,” DeRozan said – the Raptors’ leading scorer in 2017-18 (23.0 ppg) ruminated pretty good. “It was rough. As a competitor, definitely rough,” he said. “But I think it’s something you carry over to today. Let it fuel you. ... I’ve had lots of [times] where I got down on myself. It’s all about how you respond. “There’s really nothing much you can do, honestly, but watch the time go by. Wait for when the time comes to be able to get this feeling off you. And in order to get that feeling off you is to go back out there, help your teammates and get a win.” Lowry, asked how they would manage that, reduced his formula to one word. “Rumble,” he said. “No matter what, you rumble. Rumble, young man, rumble.” Toronto did play with overdue physical force in Game 3 and will make that a priority again. Rookie OG Anunoby’s individual defense on James has been solid, generally without overt double-teaming. Through the three games, though, the Raptors have committed 18 more fouls and 20 more turnovers, too many mistakes when losing Game 1 in overtime and Saturday (Sunday, PHL time) by that single bucket. Whenever it gets here for the Raptors, the summer is going to be longer than they’d hoped. So, going out strong does matter. “You choose to continue to fight,” Casey said of his players. The Toronto coach recalled his days as an assistant in Seattle, when the SuperSonics fell behind 0-3 against Michael Jordan and the Bulls in the 1996 Finals. Rather than fold, they won the next two games at home in the 2-3-2 format to force the series back to Chicago. Said Casey: “Guys just made up their minds, ‘We’re not giving in. We’re not quitting. We’ve got too much sweat equity.’ We won the regular season conference title. Guys put in the work to get where they are. We’ve got a group of young players who committed to getting better and did. “The easy thing to do is just to write us off and write ourselves off. But you choose to be a warrior. You choose to continue to fight.” Steve Aschburner has written about the NBA since 1980. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsMay 7th, 2018

Robinson Bank, Pru Life partner on bancassurance

MANILA, Philippines — Gokongwei-led Robinsons Bank and British life insurer Pru Life UK yesterday announced the establishment of a strategic bancassurance pa.....»»

Category: financeSource:  philstarRelated NewsJan 11th, 2018

Pru Life UK, Robinsons Bank form first bancassurance venture

The local unit of Pru Life of UK and the Gokongwei-led Robinsons Bank have formed their first bancassurance venture, seeing much potential in the country’s insurance space......»»

Category: newsSource:  interaksyonRelated NewsJan 9th, 2018

Amid troubled World Cup sales, FIFA set to hit $5.66B target

MOSCOW --- Even taking a financial hit from Italy and the United States failing to qualify, FIFA's top salesman insists the 2018 World Cup will make its income target. Italy's loss in the playoffs wiped tens of millions of dollars off the value of an unsold broadcasting deal. One of FIFA's most valuable markets is typically worth $200 million per World Cup. The surprise U.S. elimination --- as Panama qualified --- affects finding four North American sponsors in a new, and stalled, regional sales program. Just one of 20 slots has sold worldwide, to an oligarch-owned bank in host nation Russia. "Everybody is annoyed with the non-qualification of the U.S. which was not expecte...Keep on reading: Amid troubled World Cup sales, FIFA set to hit $5.66B target.....»»

Category: newsSource:  inquirerRelated NewsDec 1st, 2017

Union Bank, Insular Life forge bancassurance deal

MANILA, Philippines - Insurance firm Insular Life Assurance Co. Ltd......»»

Category: financeSource:  philstarRelated NewsMay 13th, 2017

Robinsons Bank raises P1.8 billion via LTNCD issue

Gokongwei-led Robinsons Bank Corp. has raised P1.78 billion from the issuance of long-term negotiable certificates of deposits to support its expansion plans and diversify the maturity profile of its funding sources......»»

Category: financeSource:  philstarRelated NewsJul 16th, 2018

ANZ sees marginal export recovery in May, not enough to bridge trade gap

OUTBOUND SALES of Philippine goods likely recovered in May but were not enough to stop the trade gap from growing further, analysts at ANZ Research said. In its weekly report, the global bank said merchandise exports may have grown by 0.4% in May. The Philippine Statistics Authority is scheduled to report official trade data today.… link: ANZ sees marginal export recovery in May, not enough to bridge trade gap.....»»

Category: newsSource:  manilainformerRelated NewsJul 9th, 2018

Philippines government Approves Two New Crypto Exchanges

The central bank of the Philippines has reportedly approved two new cryptocurrency exchanges, bringing the total number of accredited crypto exchanges in the country to five. Meanwhile, crypto tran.....»»

Category: newsSource:  philippinetimesRelated NewsJul 9th, 2018

Paz Life told to stop memorial plan sales

Pre-need company Paz Life Plan Inc., formerly known as Paz Memorial Services Inc., has been placed under conservatorship by the Insurance Commission for failing to comply with capitalization requirements. “The result of the examination made into the affairs, financial condition, and methods of doing business of Paz Life Plan as of year-end 2016 disclosed that [...] The post Paz Life told to stop memorial plan sales appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 5th, 2018

Making sense of Cousins move to the Warriors

By David Aldridge, TNT Analyst This was, originally, a Twitter thread. And then, I thought: well, that’s stupid. It’s a column. Write it. But, do it in Twitter form ... ‘cause that’s what the millennials like! So, here goes: - In free agency, multiple things that seem contradictory can be true. In the case of @boogiecousins (DeMarcus Cousins), did he not get a single offer from any of the other 29 teams (including @PelicansNBA) before he made a deal w/the @warriors on Monday? Long thread, including speculation, follows. - The answer could be yes & no. (Before I go further: I am not in any way questioning either Cousins -- I respect Boogie & we've always been cool -- or my dude @MarcJSpearsESPN (Marc J. Spears), one of the best journos in the game. Don't @ me later saying I did, 'cause I'm telling you I'm not.) - So, how? First, remember: everyone in the NBA had to wait on what @KingJames decided before most teams could proceed with their free agency plans; there is a ripple effect created by what superstar players w/choices like James and @Yg_Trece (Paul George) decide to do. - There are/were numerous free agents on the "next" level below guys like James, @KDTrey5 (Kevin Durant) and George, who have/had to see where the guys on the top level go before deciding on the teams they sign with, which in turn impacts players on the next level below them, and on and on. - Those decisions also impact teams. After the top FAs commit, others often find themselves scrambling to make a deal -- and after a few days out in the cold, they're often willing to sign for less than for what they initially were asking. And many teams wait for such bargains. - Second: this doesn't include other factors like the ongoing Kawhi Leonard/San Antonio Spurs situation, which directly impacts the offseason decisions of a contending team like Philly, for example -- and, obviously, San Antonio. Bottom line for all, though: it's LeBron first, then everyone else. - If James had picked @sixers or @cavs, for example, L.A.'s money commitments/roster construction for 2018-19 would obviously be different. (Most people thought James would go to L.A.; I get that. But his reps did take a meeting with the Sixers Sunday. People do change their minds.) - Anyway: the likelihood is teams told Cousins they had to wait. Or, 'all we have is the mid-level (whichever version of the mid-level exception they had available depending on space) & it's all we have until we know what the Lakers do.' Are those "offers?" Everyone seeks ambiguity in July. - So: when Cousins' reps sought concrete offers, those teams that were interested -- given that Boogie is still rehabbing -- likely said: 'we have to wait.' And even though LBJ likes Boogie's game immensely & the Lakers wanted him, I'm guessing they still were working on a number. - The Lakers cleared cap room Monday by renouncing Julius Randle and could have stretched Luol Deng to make more. But, they didn't. Maybe Cousins didn't want to wait; maybe the Lakers wanted max flexibility for '19. Whatever the reason, they didn't commit to one another when they had a chance. - What about the Pelicans? A league source says New Orleans did make a two-year offer to Cousins after he suffered his season-ending Achilles' injury -- but the offer came at the end of the Pels' season, not this past weekend. (Don't know specifics on the offer, like options, etc.) - Cousins' camp said he wanted to test the market and see what else was out there. Which was/is understandable. The Pels, not wanting to negotiate against themselves (not that they had a choice, given that Cousins was/is a UFA), didn't change their offer. - My guess: Pels' offer was lower than what an All-Star like Boogie would get or accept under normal conditions. But New Orleans wouldn't spend big $ on him for '18-19 if he was going to miss a lot of time. Golden State can wait 2-3 months for Cousins & still be a top team in the West; New Orleans can't. - So, you could say the Pelicans made him an offer (at the end of the season, but not after July 1) or didn't make him any offer at all (once free agency actually started). Both are true -- depending on your point of view. Which doesn't make anyone outside The Town happy, I know. - The ironic thing, given all the caterwauling about how unfair both life and the NBA’s rules are that allowed the Dubs to swoop in and give Cousins their taxpayer mid-level, is that we’re almost certain to repeat this drama a year from now—with a much larger pool of teams involved. - Assuming Golden State indeed is giving Cousins a one-year deal, he would be a “Non Bird” free agent for the Dubs in 2019, meaning the most the Warriors could offer him is a deal starting at 120 percent of his 2018-19 salary—about $6.36 million for 2019-20, based on the $5.3 million he’ll earn this coming season—with 4.5 percent raises annually for up to four years. - My back of the envelope math says that’s around four years, $27 million. No chance Cousins signs up for that, no matter how well things go next season. This is a one-year rental. - If Cousins gets back healthy and plays well for the Dubs, there will a lot of potential suitors lining up in 2019, many more of whom will have more cap room next summer than they do now. If he eventually helps Golden State to a ThreePeat, all to the good for the Dubs. But he’ll be back on the market in a year, looking for a nine-figure max deal. - So, stop whining, everybody. Every one of your teams could have signed Boogie, and they didn’t. Just like every one of your teams could have drafted Draymond Green in the first round of the 2012 Draft (and that includes the teams that didn’t have first-rounders that year; if you wanted him bad enough, you should have traded back into the round). - There’s a reason Boogie called the Warriors first and offered himself for the mid-level, just as there was a reason Kevin Durant turned down Brad Stevens and Riles and Doc Rivers and went to Golden State two years ago. - Get to work. Now get off my lawn. Longtime NBA reporter, columnist and Naismith Memorial Basketball Hall of Famer David Aldridge is an analyst for TNT. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsJul 4th, 2018

Federer marks 20th Wimbledon with ‘$300 million’ windfall

LONDON, United Kingdom -- Roger Federer boosted his bank balance by a reported $300 million on Monday, marking his 20th straight Wimbledon appearance with a new clothing deal. The 36-year-old eight-time Wimbledon champion penned a contract with Japanese giants Uniqlo, virtually severing a two-decade association with Nike in the process. His deal has been widely estimated to be worth $300 million over 10 years, compared to the $10 million he was reportedly making each year from US heavyweights Nike. Curiously, he was still wearing Nike shoes for his 6-1, 6-3, 6-4 win over Serbia's Dusan Lajovic on Center Court on Monday. Reluctant to discuss figures, Federer is now in a le...Keep on reading: Federer marks 20th Wimbledon with ‘$300 million’ windfall.....»»

Category: newsSource:  inquirerRelated NewsJul 2nd, 2018

BSP warns public against fake papers

THE Bangko Sentral ng Pilipinas (BSP) on Thursday warned the public not to deal with scammers issuing false central bank-issued documents. These include loan documents, deposit certificates and fund-transfer papers, which the central bank said in a statement were provided to “individuals, corporations or institutions” by scammers “pretending to be authorized BSP officials.” According to [...] The post BSP warns public against fake papers appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 29th, 2018

Robinsons Bank raising P5B via debt market

Gokongwei-led Robinsons Bank has returned to the local debt market with an offering of as much as P5 billion worth of high-yielding deposits, proceeds from which will fund the bank's aspiration to becoming one of the country's leading banks. The long-term negotiable certificates of deposit (LTNCD) will have a tenor of 5.5 years and carry an interest rate of 4.875 percent per annum, payable on a quarterly basis. The LTNCDs are offered to the public at a minimum denomination of P50,000 and multiples of P10,000 thereafter. ING Bank NV acts as the sole lead arranger for this offering, which started Thursday and will run until July 9. The target settlement and listing date on the Philip...Keep on reading: Robinsons Bank raising P5B via debt market.....»»

Category: newsSource:  inquirerRelated NewsJun 28th, 2018

Robinsons Bank raises capital to P27 billion

Gokongwei-led Robinsons Bank Corp. is beefing up its capital base to P27 billion from P15 billion to bankroll the bank’s expansion program......»»

Category: financeSource:  philstarRelated NewsJun 28th, 2018

RAW Deal: The post-Money in the Bank landscape

CHICAGO—Money in the Bank was a show in which very few earth-moving things truly happened, despite all the great wrestling. In a way, WWE merely spun its wheels while advancing a few inches on the ground. Yes, new Money in the Bank holders (and ........»»

Category: newsSource:  rapplerRelated NewsJun 24th, 2018

Don’t deal with CoopHub – BSP

THE Bangko Sentral ng Pilipinas (BSP) is warning the public not to deal with a company allegedly posing as an authorized entity under its Credit Surety Fund (CSF). In a statement on Wednesday, the central bank said it had not “certified CoopHub and/or any of its representatives” and “does not certify other [individuals or groups]to [...] The post Don’t deal with CoopHub – BSP appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 20th, 2018