Additional daily allowance instead of wage increase
Instead of a wage increase, Metro Manila employees will get an additional P22 a day as “emergency” cost of living allowance (COLA). The Department of Labor and Employment (DOLE) said the increase was approved by the Regional Tripartite Wages and Productivity Board-NCR (RPTWPB-NCR) following discussions with employers and workers’ union. This would bring the total [...]
May 9, 2011
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Roy · 
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Tags: business news, COLA, cost of living allowance, employees, finance, labor department, money, Philippines, salary increase, wage increase, Wage Order No. 16 · Posted in: Announcement, Consumers, economy, finance, Government, money, Philippine business news, Philippines, Poverty
BSP to convert Libyan dinar until June 30 only
The Monetary Board of Bangko Sentral ng Pilipinas (BSP) said it will terminate the Currency Exchange Facility (CEF) for Libyan dinars. The facility was established in March to help overseas Filipino workers (OFWs) displaced by the strife in the North African country. With the CEF, each OFW may exchange up to P10,000 worth of Libyan [...]
April 29, 2011
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Tags: bank, banking, BSP, exchange rate, foreign currency, Foreign exchange, forex, Libyan dinar, money, OFWs, Philippines · Posted in: Announcement, banking, Consumers, e-commerce, finance, Foreign exchange, Government, International relations, money, OFWs, Philippine banks, Philippine business news, Philippines
Banco Filipino asks Court of Appeals to issue TRO
It seems that Banco Filipino hasn’t given up on its fight yet because it has asked Court of Appeals to issue a temporary restraining order (TRO) on the closure order issued by the Bangko Sentral ng Pilipinas (BSP) last week. Banco Filipino vice chairman Perfecto Yasay said they have filed a petition for certiorari with [...]
March 21, 2011
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Tags: Banco Filipino, banking, Banks, BSP, Central Bank, insolvency, Monetary Board, money, PDIC, Peso, Philippine, receivership · Posted in: banking, economy, finance, Government, Law, money, Philippine banks, Philippine business news, Philippines
PDIC announced schedule of Depositors’ Forum
The Philippine Deposit Insurance Corp. (PDIC) released the schedule of depositors’ forum for clients of the closed Banco Filipino Savings and Mortgage Bank. The Depositors’ Forum, which will be held from March 22 to 30 in Metro Manila, Pampanga (Central Luzon) and Laguna (Southern Luzon), will brief the depositors on the procedures and requirements for [...]
March 19, 2011
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Tags: Banco Filipino, bank, banking, Depositors' Forum, money, PDIC, Philippine, receivership · Posted in: banking, Consumers, Customer Service, finance, investments, money, People, Philippine banks, Philippine business news, Philippines
Banco Filipino ordered closed for the second time
The Bangko Sentral ng Pilipinas shuts down Banco Filipino Savings and Mortgage Bank yesterday, after it “temporarily” closed its doors to its depositors this week. The Aguirre family-owned Banco Filipino was received closure order from BSP for its insolvency. The bank’s liabilities exceed its assets by P8.4 billion. The seven-member Monetary Board decided yesterday to [...]
March 17, 2011
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Tags: Banco Filipino, Bangko Sentral, bank, banking, BSP, closure order, MB, Monetary Board, money, PDIC, Philippines, receivership · Posted in: banking, Corporations, economy, finance, Government, Law, money, Philippine banks, Philippine business news, Philippines
BIR say filing of AIR for 2010 optional
With its implementation met with a lot of protests and not-so-good-comments, the BIR decided to make the filing of AIR for 2010 optional. The Bureau of Internal Revenue (BIR) gave taxpayers leeway by making the annual information returns (AIR) filing optional for 2010. Commissioner Kim Henares said it would give the affected taxpayers time to [...]
March 14, 2011
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Tags: AIR, BIR, income tax, ITR, money, Philippines, RR 2-2011, SALN, tax, Taxation, taxes · Posted in: finance, Government, Law, money, People, Philippine business news, Taxation
Peso seen at P41.50:$1 this year
In spite of the continuous strengthening of the Philippine Peso, London-based Barclays Capital says it sees the the peso at P41.50 to $1 instead of P40 to $1 this year. This is because of the continued increase in global oil prices. According to the latest research note of Barclays Capital economist Prkriti Sofat, the investment [...]
March 13, 2011
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Tags: Barclays Capital, economy, finance, Foreign exchange, global, money, Philippine peso, US dollar · Posted in: banking, economy, entrepreneur, entrepreneurship, finance, Government, money, Philippine business news, Philippines
Philippine remittances in 2010 reached $18.8 B
Remittances to the Philippines reached $18.8 billion in 2010, according to the Bangko Sentral ng Pilipinas (BSP) report. In December 2010, money sent home by overseas Filipino rose 8.1% to $1.69 billion, bringing total remittances for the year to a record of $18.76 billion. This record represents an 8% increase from the previous and beating [...]
February 15, 2011
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Tags: business news, finance, foreign remittance, forex, money, Philippines · Posted in: banking, economy, finance, Government, money, Philippines
Covered call investing
To be honest, the term “covered call” is really new to me. I heard it from a friend, and I got curious because he attached the word “investment” to the phrase, saying it is a good earning opportunity. So I searched for its meaning online, which led me to different sites, one of which is [...]
August 20, 2010
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Tags: covered call, earning potentials, finance, investment, money · Posted in: business opportunity, money, Product Reviews
Lower remittance fees for OFWs
A new remittance system that will allow for a safer, faster and cheaper remittances by OFWs (overseas Filipino workers) will be implemented by the Bangko Sentral ng Pilipinas (BSP) starting on the third quarter of the year. This is the new Philippine Payments and Settlements System or Philpass Remit System. Under this new system, the [...]
May 25, 2010
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Tags: Business, finance, money, OFWs, Philpass, remittances · Posted in: Announcement, banking, Consumers, economy, finance, Government, money, OFWs, Philippine business news, Philippines
