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SEC joins clampdown vs UK finance firm

The Securities and Exchange Commission has issued a stern warning to investors against Financial.Org, a UK company which claims to manage hundreds of thousands of dollars for Asian investors......»»

Category: financeSource: philstar philstarApr 16th, 2018

Dominguez stands firm on third telco bidding

Finance Secretary Carlos G. Dominguez III is standing firm on his proposal to auction off the frequency spectrums for the selection of the third major player in the local telecommunications industry. Dominguez stands firm on third telco bidding Finance Secretary Carlos G. Dominguez III is standing firm on his proposal to auction off the frequency… link: Dominguez stands firm on third telco bidding.....»»

Category: newsSource:  manilainformerRelated NewsJul 8th, 2018

PH joins AIIB board meeting

The Philippines is participating in the third annual meeting of the Asian Infrastructure Investment Bank’s (AIIB) board of governors, the Finance department said, with Finance Secretary Carlos Dominguez 3rd representing the country in the gathering in Mumbai, India. Dominguez delivered the Philippines’ statement during a business roundtable on Monday and will make a keynote speech [...] The post PH joins AIIB board meeting appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJun 25th, 2018

Dennis Uy joins another Ongpin-run firm

Davao-based businessman Dennis Uy has joined another Ongpin-led company, Alphaland Corp. as a director......»»

Category: financeSource:  philstarRelated NewsJun 21st, 2018

ANI hikes capital of affiliate agri bank, forms new agri-fintech firm

The board of directors of listed agri-conglomerate AgriNurture, Inc. (ANI) said it has approved a plan to infuse P100-million to increase the capital of affiliate Agricultural Bank of the Philippines (ABP) to Php200-million, subject to final approval by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). In a disclosure to the Philippine Stock Exchange (PSE), ANI said on Wednesday that ABP's capital hike would fund the expansion of the bank's P2P platform and e-wallet business. Through the capital infusion, ANI aims to enhance supply chain micro-finance access of Filipino farmers in remote areas using technology. ANI president and CEO Antonio...Keep on reading: ANI hikes capital of affiliate agri bank, forms new agri-fintech firm.....»»

Category: newsSource:  inquirerRelated NewsJun 14th, 2018

Stricter criteria readied for 3rd telco pick

The Department of Finance (DOF) will come up this week with a stricter pre-qualification criteria for the selection of a third telecommunication firm, ensuring that the new entrant has the capability to compete against existing players in the market......»»

Category: financeSource:  philstarRelated NewsJun 10th, 2018

EU joins global battle against Trump tariff onslaught

WHISTLER, Canada – The EU on Friday, June 1, launched its first counteroffensive against Washington's punishing steel and aluminum tariffs  while the US began meetings in Canada with outraged finance ministers from its top trading partners. Meanwhile in Washington, US President Donald Trump floated the possibility of scrapping the 24-year-old North American Free Trade Agreement ........»»

Category: newsSource:  rapplerRelated NewsJun 2nd, 2018

Mining firm bullish on nickel prospects

Listed Nickel Asia Corp. (NAC), the country's biggest nickel miner, is banking on the growing global demand for nickel in the next few years to grow its revenue, given the increase in the use of the commodity for the production of batteries for electric vehicles. During the annual stockholders' meeting of NAC, chief finance officer Emmanuel Samson said the company was planning to increase its shipment volume for the year by 13 percent to 20 million wet metric tons (WMT) from last year's 17.7 million WMT to meet the rising demand for nickel. A shortfall in the supply of the commodity is seen in the next few years as analysts are projecting nickel demand to grow at the same rate as t...Keep on reading: Mining firm bullish on nickel prospects.....»»

Category: newsSource:  inquirerRelated NewsMay 28th, 2018

Former Ayala exec joins Finance dept

Former Ayala Corp. executive Antonio Joselito Lambino 2nd has been sworn in as a new assistant secretary for the Department of Finance. The department, in a statement, said Lambino had been assigned to the Strategy, Economics and Results Group where he will provide strategic advice on policy advocacy and stakeholder engagement programs supporting the Comprehensive [...] The post Former Ayala exec joins Finance dept appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsMay 17th, 2018

Metro Pacific bags P1.62B Dumaguete water concession

Metro Pacific chair Manuel V. Pangilinan and chief finance officer David Nicol Infrastructure holding firm Metro Pacific Investments Corp. has expanded its footprint in the water sector with a new.....»»

Category: newsSource:  philippinetimesRelated NewsMay 16th, 2018

ISM board approves sale of treasury shares to unit

ISM Communications Corp. is selling treasury shares to give the holding firm some flexibility to finance possible investments and issue cash dividends. In a disclosure to the stock exchange on Wednesday, ISM said its board of directors approved the sale of 560 million treasury shares to wholly owned subsidiary ISM Equities Corp. at a price […] The post ISM board approves sale of treasury shares to unit appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 2nd, 2018

SMIC to Spend P90B for Expansion in 2018

SM Investments Corporation (SMIC), the holding firm of the Sy family, has allocated a total of PHP90 billion for capital expenditures (capex) this year to support its expansion program as it looks for more emerging business opportunities. SMIC Senior Vice President of Finance Franklin Gomez said the group’s property arm, SM Prime Holdings Inc., will […].....»»

Category: newsSource:  metrocebuRelated NewsApr 26th, 2018

Agri firm advances with help from ACEF

THE Philippines’ agriculture department is mandated to use the Agricultural Competitiveness Enhancement Fund (ACEF) to finance projects and activities that will help agricultural and fisheries sectors become globally-competitive, viable, efficient and sustainable. Julie Delima, regional coordinator, said ACEF offers interest-and-collateral free loans through the Land Bank of the Philippines as the credit conduit. One of […] The post Agri firm advances with help from ACEF appeared first on The Daily Guardian......»»

Category: newsSource:  thedailyguardianRelated NewsApr 9th, 2018

PSEi drops below 8,000 anew on US-China trade war jitters

  Local stocks fell below the 8,000 mark anew on Friday as a brewing US-China trade war spooked global markets. The main-share Philippine Stock Exchange index (PSEi) tumbled by 153.65 points or 1.89 percent to close at 7,970.80. About P1 billion worth of foreign funds exited the stock market during the day. For the week, the PSEi shed a total of 267.35 points or 3.24 percent. "The looming trade war triggered investors to run for the shelters. The smell of gunpowder is getting stronger," said Astro del Castillo, managing director at fund management firm First Grade Finance Corp. "The consequences will not be good for the global economy." US President Donald Trump o...Keep on reading: PSEi drops below 8,000 anew on US-China trade war jitters.....»»

Category: newsSource:  inquirerRelated NewsMar 23rd, 2018

BIR files tax evasion case vs GDI; food firm denies claims

    The Bureau of Internal Revenue (BIR)on Fridayfiled before the Department of Justice (DOJ) a tax evasion complaint against Golden Donuts Inc. (GDI), the exclusive franchisor and license grantee of US company Dunkin Donuts.   Facing complaint for alleged violation of Sections 254 and 255 of the National Internal Revenue Code (NIRC) for willful attempt to evade or defeat tax and for deliberate failure to supply correct and accurate information is GDI and its officers namely Walter C. Spakowski, president; Miguel H. Prieto, treasurer; Pedro E. Paraiso, Chief Financial Officer; and Jocelyn V. Santos, Vice President for Finance and Administration.   GD...Keep on reading: BIR files tax evasion case vs GDI; food firm denies claims.....»»

Category: newsSource:  inquirerRelated NewsFeb 23rd, 2018

DoF firm on net worth requirement for insurers

Insurance companies should merge if they cannot comply with mandatory net worth requirements, Finance Secretary Carlos Dominguez 3rd said, noting the need for a stronger and more competitive domestic industry. From a P550-million requirement — up from P250 million previously — that took effect at the end of 2016, insurers will have to increase their [...] The post DoF firm on net worth requirement for insurers appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsFeb 21st, 2018

FINTQ microinsurance platform set for rollout

FINTQNOLOGIES Corp. (FINTQ), the financial technology (fintech) arm of Voyager Innovations, Inc., is set to launch a microinsurance platform to tap the uninsured. FINTQ managing director Angelito M. Villanueva told BusinessWorld in an interview that the firm will launch KasamaKA Microinsurance “in the last week of February.” The second Inclusive Digital Finance Report released last month […] The post FINTQ microinsurance platform set for rollout appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 7th, 2018

MPIC avails of P8-B loan facility

METRO Pacific Investments Corp. (MPIC) has secured an P8-billion syndicated term loan facility to partially finance the obligations of one of its subsidiaries. In a disclosure to the stock exchange on Friday, the Manuel V. Pangilinan-led firm said the syndicated term loan facility — set to mature in 10 years and 15 years — will […] The post MPIC avails of P8-B loan facility appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 12th, 2018

Gov’t has caught biggest tax evader, says Dominguez

The Duterte administration has caught the biggest tax evader in the Philippines -- namely, tobacco firm Mighty Corp., which has just paid the government P30 billion to settle its tax liabilities, Finance Secretary Carlos Dominguez III saidon Monday. "Right now, we have not caught all the tax evaders, but we caught the biggest one, okay," Dominguez said in a news briefing at Malacaang Palace. "We caught the tax evader who was penalized 30 billion pesos and that was Mighty Cigarettes -- and Mighty is no longer in the business." "Their business was taken over by somebody, by another company, and no jobs were lost. But the government collected 30 billion pesos -- actually 29.5 bill...Keep on reading: Gov’t has caught biggest tax evader, says Dominguez.....»»

Category: newsSource:  inquirerRelated NewsJan 8th, 2018

BPI Capital Corporation Wins 8 Awards From 3 Regional Finance Magazines

BPI Capital Corporation, the fully-owned investment banking firm of Bank of the Philippine Islands, recently clinched multiple awards from The Asset, Alpha Southeast Asia, and IFR Asia, some of the most respected finance magazines in... The post BPI Capital Corporation Wins 8 Awards From 3 Regional Finance Magazines appeared first on MetroCebu News......»»

Category: newsSource:  metrocebuRelated NewsJan 2nd, 2018

LRWC subsidiary to obtain P2.5B loan from BDO

A UNIT of Leisure and Resorts World Corp. (LRWC) will be taking out a P2.5-billion loan from BDO Unibank, Inc. to partially finance its planned resort development. In a disclosure to the stock exchange on Friday, the listed firm said its wholly-owned subsidiary AB Leisure Global, Inc. has executed an omnibus loan and security agreement […] The post LRWC subsidiary to obtain P2.5B loan from BDO appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsDec 1st, 2017