Archive for October, 2009
No wage increase this year
Noting that the financial crisis is far from over, the National Wages and Productivity Commission (NWPC) said that there won’t be any salary increase this year. NWPC executive director Ciriaco Lagunzad said an increase in the daily minimum wage at this point might lead to displacement of workers and closure of commercial establishments, particularly the [...]
October 29, 2009
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Roy · 
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Tags: benefits, DOLE, economy, employees, Labor, NWPC, Philippines, salary, wage board, wages · Posted in: Announcement, economy, finance, Government, Labor, Law, money, Philippines
Republic Act 9505 or the PERA Act of 2008
A new law that hopes to encourage Filipinos to invest more of their savings in high yield products has been signed recently. The PERA Law or Personal Equity and Retirement Account will be implemented by the Bangko Sentral ng Pilipinas (BSP) next year. BSP Governor Amando M. Tetangco Jr., one of the signatories of the [...]
October 22, 2009
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Tags: Banks, Business, Filipino, finance, investments, money, OFWs, PERA Law of 2008, Philippines, RA 9505, Republic Act 9505, shares of stocks · Posted in: Announcement, banking, finance, Government, investments, money, Philippine business news, Philippines
BIR allows claim for income tax deductions due to Ondoy and Pepeng
The Bureau of Internal Revenue (BIR) announced that business taxpayers whose enterprises have been damaged by typhoons Ondoy and Pepeng may file for income tax deduction for the losses they incurred. But the bureau said there should be proof to show the extent of the damage or the condition of the property before and after [...]
October 18, 2009
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Posted in: Announcement, finance, Government, Philippine business news, Philippines, Taxation
Employment opportunities for typhoon victims
Victims of the recent storms Ondoy and Pepeng will be given priority in employment expo which will be held on October 22 at the Market! Market! Mall in Taguig. The Joint Foreign Chambers (JFC) will be having 3,000 available at the employment expo. Organizers, which are foreign companies, are looking ways to prioritize the typhoon [...]
October 15, 2009
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Tags: employment expo, JCF, job fair, Market! Market!, Philippines · Posted in: Announcement, banking, BPO, Career, Employment, Labor, Philippine business news, Philippines
Globe puts up first mobile microfinance bank
Globe Telecommunications, Inc., together with sister company Ayala Corp., is all set to put up the Philippine’s first mobile microfinance banking unit. That is because the Banko Sentral ng Pilipinas approved the Globe and Ayala’s entry into the banking industry. The new bank, will be called “BPI Globe Banko, A Savings Bank” will be using [...]
October 12, 2009
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Tags: Ayala, Banks, BPI, BPI Globe Banko, BSP, Business, business loans, capitalization, entrepreneur, financing, funds sources, Globe, Loans, microfinancing, mobile financing, NGOs, Philippines, SMEs · Posted in: Announcement, banking, Employment, finance, investments, Loans, money, Philippine banks, Philippine business news, Philippines
BSP okay with “Money Laundering”
Only because of the aftermath of Tropical Storm Ondoy, the Bangko Sentral ng Pilipinas permits banks to do “Money Laundering” operations. Of course, money laundering here does not refer to those wealth which came from questionable sources. When BSP gave a go signal to money laundering, it refers to changing those soiled bills where were [...]
October 9, 2009
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Tags: Bangko Central ng Pilipinas, Banks, BSP, calamity, flash flood, money laundering, new bills, Ondoy, Peso, Philippine, Philippine currency, replacement · Posted in: Announcement, banking, Government, money, Philippine banks, Philippine business news, Philippines
Meralco announced power rate cuts, rotates brownouts schedule
It was definitely good news to customers of the Manila Electric Co. as Meralco announced that they will give another power rate cut this October. Meralco customers will get lower bills this month as the power company reduced its rate by 11.55 centavos per kWh this October. This was made possible said Meralco vice president [...]
October 8, 2009
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Tags: brownouts, consumer, Consumers, customers, electric company, electric consumption, Filipino, Meralco, NGCP, Philippines, power rate cuts, rotated power outage, savings · Posted in: Announcement, Consumers, Corporations, Customer Service, Philippine business news, Philippines
Lower housing loan rates from SSS
To help Filipinos whose homes were damaged by the recent onslaught of tropical storm Ondoy last , SSS reduced loan rates for home repairs and improvements. The reduced rates for SSS is now at 9%, from a previous 13% per annum. The maximum amount of loan that can be availed is P300,000 and payable up [...]
October 2, 2009
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Tags: Filipino, finance, Housing, Housing loan, lower rates, money, Philippines, SSS · Posted in: Announcement, Consumers, economy, finance, Government, Housing, money, Philippine business news, Philippines
Globe and Smart reduced call rates for the weekend
The two major mobile telecommunications company in the Philippines, Globe and Smart reduced their call rates this weekend – October 3 to October 4, 2009. Globe and Smart lowers call rates to three per minute. Globe users will enjoy the reduced rates starting 12:01 a.m. of October 3 up to 11:59 p.m. of October 4. [...]
October 2, 2009
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Tags: communications, Globe, mobile telephone, Philippines, reduced call rates, signal, Smart, Talkand Text, TNT, Touch Mobile, Typhoon Ondoy, victims · Posted in: Announcement, communications, Corporations, Philippines, promotions
