Public sector banks doing better in managing NPAs vis-a-vis their private counterparts: FICCI-IBA survey
New Delhi [India], March 21 (ANI): Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found. A nonperforming asset refers to loans or advances that are on the brink of default. According to the survey, a large majority (77 per cent) of the respon.....»»
Prioritizing job creation over wage hikes urged
Creating more jobs is a better way to improve lives than the proposed P350 minimum wage increase by the House of Representatives, according to Go Negosyo founder and Private Sector Advisory Council Jobs Lead Joey Concepcion. .....»»
Private sector collaborates with government for climate action
The private sector has expressed its commitment and readiness to fund sustainability projects to support the country’s climate goals......»»
PSAC backs government efforts in local talent retention
The jobs sector of the Private Sector Advisory Council expressed support for President Marcos’ efforts aimed at bolstering local talent retention, enhancing vocational training and streamlining business processes in the Philippines......»»
MinDA, airline firm plan two-day visit to Manado
DAVAO CITY (MindaNews / 17 January)—The Mindanao Development Authority (MinDA) and executives of an airline company are planning to conduct a two-day technical visit to Manado, Indonesia in the last week of January to discuss with their counterparts the possible resumption of Davao-Manado-Davao flights. Dr. Adrian Tamayo, public relations division chief of MinDA, told MindaNews […].....»»
Philippines, German central banks partner on capacity-building
The central banks of the Philippines and Germany have formalized their partnership on capacity-building through the signing of a memorandum of understanding......»»
Lawmaker proposes gradual 3-year wage hike for private workers
A lawmaker on Wednesday proposed gradually increasing the minimum daily wage for private sector workers by P100 over three years. Manila Rep. Joel Chua believes this approach would be manageable for businesses still recovering from the pandemic. He emphasized the importance of balancing the interests of workers and businesses while implementing the wage hike. A.....»»
DPWH tallies 268 gov’t and school buildings partially destroyed in Hinatuan quake
The Department of Public Works and Highways (DPWH) in Davao Region reported that a total of 268 school and national government buildings were partially destroyed by the magnitude 7.4 earthquake that struck Hinatuan, Surigao del Sur on December 2. The estimated damage amounted to P108,497,894.84 for school buildings and P1,899,365.60 for national government buildings. The damages included cracks on walls and falling debris such as ceilings. According to Engr. Alexander Turingan of DPWH XI, there were no reported damages in Davao Occidental and Davao del Sur. Franz Irag, Office of Civil Defense (OCD) XI operations head, emphasized the importance of addressing damages to school buildings, which also serve as evacuation centers during calamities. Dean Ortiz, spokesperson of DPWH XI, highlighted the agency's focus on national roads and bridges, clarifying that they will respond to requests to inspect private and government buildings. Architect Kashagar Toghyani, officer-in-charge of the Office City Building Official (OCBO) of Davao City, urged private building owners to promptly engage professional engineers to assess structural integrity, especially for buildings housing more than 10 individuals. He emphasized the necessity of fire inspections and transparency with building occupants to ensure their safety. The recent earthquakes did not affect government buildings in the Davao Region, and DPWH is committed to conducting thorough assessments and ensuring the safety of buildings and their occupants in the aftermath of the quake......»»
Murcia private cemetery warns public vs spurious transactions
Murcia private cemetery warns public vs spurious transactions.....»»
53% drop in Davao City’s road accidents: DCPO-TEU
The Davao City Police Office-Traffic Enforcement Unit (DCPO-TEU) has reported a significant 53% decrease in road accidents during the first 16 days of 2024 compared to the same period in 2023. Deputy Chief Pcpt. Raymundo B. Bacera Jr. revealed these statistics during the ISpeak media forum, citing 213 recorded incidents in 2023, compared to only 102 in 2024. He noted a reduction in the number of vehicles involved, from 120 to 51. Human error was identified as the primary cause of accidents, accounting for 97% of cases, while vehicle defects and road defects contributed to 2% and 1% of incidents, respectively. Private vehicles were involved in 40% of the accidents, with common human errors including texting/calling while driving, overtaking, and speeding. The peak hours for accidents were identified as between 2 pm to 4 pm. Despite the implementation of the New Speed Limit Ordinance, which came into effect on January 11, 2024, Dionisio Abude, head of the City Transport and Traffic Management Office (CTTMO), emphasized that the ordinance cannot guarantee the absence of road incidents, highlighting the critical role of driver behavior and driving habits. Since the ordinance's enforcement, CTTMO and DCPO-TEU have issued citations to 730 violators, with private vehicles constituting 49% of the total, followed by motorcycles, taxis, trucks, public utility jeepneys, buses, and public utility vans......»»
Some firms still violate ease of doing biz law despite Arta
The Anti-Red Tape Authority-Eastern Mindanao Region (Arta-EastMin) revealed that there are still several businesses in their jurisdiction that violate the implementation of the Ease-of-Doing-Business Law and other red tape concerns despite the agency’s comprehensive collaboration with other security and law enforcement......»»
A century of Philippine accountancy
In my long life as a professional writer – aside from being a fictionist, journalist and academic – I’ve occasionally been asked to write books for both private and public institutions and individuals, usually to commemorate an important milestone. My clients have included banks, power and energy companies, accounting firms, NGOs, business tycoons, politicians and thinkers......»»
House optimistic Senate will pass Cha-cha in May
Administration lawmakers in the House of Representatives are pinning their hopes on their Senate counterparts to pass the economic Charter change bill before Congress goes on recess on May 24......»»
House to adopt Senate’s economic Cha-cha
Party stalwarts in the House of Representatives urged their Senate counterparts yesterday to show their sincerity in introducing economic constitutional reforms by passing Resolution of Both Houses 6, which the congressmen promised to adopt in full......»»
BSP may cut big banks’ RRR to 5 percent
The Bangko Sentral ng Pilipinas (BSP) is looking at a significant reduction in the level of deposits banks are required to keep with the central bank after it starts cutting interest rates this year, its top official said......»»
More banks keen on green financing – BSP
More banks in the Philippines have expressed interest to finance green and sustainable projects in the country amid the need to fund efforts that would mitigate impacts of climate change......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Banks’ bad loans rise in February
The soured loans of Philippine banks picked up for the 14th straight month in February, bringing the gross non-performing loan ratio to a steady 3.44 percent, amid high interest rates......»»
Moody’s outlook: Philippine banks remain on stable footing
Moody’s Investors Service has maintained a stable outlook for Philippine banks as interest rate cuts from the Bangko Sentral ng Pilipinas this year are seen to support economic recovery......»»
UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
Banks’ bad loans swell in 2023
The soured loans of Philippine banks picked up to 3.23 percent in 2023 from the almost two-year low in 2022, according to the Bangko Sentral ng Pilipinas......»»