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C-suite gender equality deemed critical in finance

MCKINSEY & Co. said gender disparity in the boardrooms of financial institutions remains an issue in the Philippines, and called female representation important in the context of a customer base that is growing more diverse.

Corporate governance in a family-owned corporation

AT THE BAIPHIL 3rd General Membership Meeting, corporate governance “guru” and guest speaker Dr. Jesus Estanislao emphasized that governance demands a focus on the long-term, realizing a great “vision” in five to ten years. Governance demands a focus on the institution and what the institution should become. Yes, people are very important, but cautioned against personalities. He said governance asks for a strategy, a set of priorities pursued across all the different facets of any business. The key focus is on priorities which must be inter-connected and mutually supportive.

DoF estimates P40B in lost revenue if fuel excise suspended

THE DEPARTMENT of Finance (DoF) said that the government will lose some P40 billion in revenue if it suspends the second tranche of the fuel tax hike next year, adding that it has yet to draft the implementing rules on how the tax will be suspended and reinstated.

2019 appropriations bill hurdles 2nd reading

THE House of Representatives on Wednesday night passed on second reading the proposed P3.757-trillion national budget for 2019.

Trapped in the 17th century

It’s been two years and three months into the six-year term of the provincial despotism that became a national affliction in 2016 by promising to deliver the changes that have long eluded the Filipino people. It should be evident by now that it is at the very least underperforming -- or at the worst, rapidly bringing the entire country to ruin.

On popularity

Sudden fame is a like an intense fever. Its symptoms vary from vertigo, dizzy spells to blurred vision and breathlessness. The perception and depth of field alter as the cranium swells beyond normal proportion.

Campuses express outrage at being linked to Reds

UNIVERSITIES tagged as being among the recruitment grounds for communist rebels have criticized the military in separate statements.

Election preparations underway ahead of deadline of candidacies

PREPARATIONS for next year’s midterm elections are underway a week before the deadline period for the filing of candidacies.

La Salle aims to be in top form against rival Ateneo

EXPECTING a tough challenge from defending champions and rivals Ateneo Blue Eagles in their first University Athletic Association of the Philippines Season 81 clash this weekend, the De La Salle Green Archers are aiming to come in prepared to get a favorable result.

Rivals Khabib, McGregor at UFC 229 in Las Vegas

THE rivalry between top Ultimate Fighting Championship lightweight fighters Khabib “The Eagle” Nurmagomedov and Conor “The Notorious” McGregor takes front and center this weekend as they headline “UFC 229” on Sunday (Manila time) in Las Vegas.

Central bank says further FX rule changes to be more gradual

FURTHER RELAXATION of foreign exchange rules can be expected to be more gradual for now as monetary authorities focus more on tempering sharp swings in daily peso-dollar trades, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).

World’s worst stock mart still not cheap enough to buy

AS the Philippine Stock Exchange Index (PSEi) dipped below 7,100 during Tuesday’s session, taking its valuation to its lowest level since January 2016, Metropolitan Bank & Trust Co. is among the firms that’s staying on the sidelines.

Razon-led firm assures power distribution capability for Iloilo

ILOILO CITY — MORE Minerals Corp., a subsidiary of tycoon Enrique K. Razon Jr.’s Monte Oro Resources and Energy, Inc. (MORE), assured it is capable of providing power distribution services as it seeks a congressional franchise for Iloilo City.

Cusi defends CEPNS given to Atimonan coal power plant

THE Department of Energy (DoE) has defended its move to certify the 1,200-megawatt (MW) coal-fired power plant in Atimonan, Quezon as nationally significant, saying the long-delayed project is needed to meet a critical point in the coming years when power supply will be deficient and critical.

US tech sector getting by on Wall St. after losing two...

SAN FRANCISCO -- The technology sector appears to be doing just fine on Wall Street a week after it lost two of its highest-profile components to a newly christened communication services group.

Mizuho seeks Google hopefuls in technology push

ONE OF Japan’s biggest banks is throwing away the cookie cutter when it comes to hiring fresh graduates.

Wine Made Easy: Nine cheap Pinot Grigios actually worth drinking

HERE’S a sad truth. Most pinot grigio is so watery, bland, and just plain dull that wine snobs scorn it and sommeliers at top restaurants won’t list it. Asking for “just a glass of pinot grigio” has almost become an admission that you don’t pay attention to what you swallow.

Rare $1.2-M bottle of Macallan to lead Bonham’s auction

A BOTTLE of rare 60-year-old Macallan could fetch a record price at a Bonhams Edinburgh auction on Wednesday (Thursday in Manila) as buyers show an unslakable thirst for limited-edition scotch whiskies.

Federal Reserve chief sees muted inflation risk in ‘extraordinary economy’

FEDERAL RESERVE Chairman Jerome Powell welcomed recent increases in Americans’ wages while expressing confidence that low unemployment won’t spur a takeoff in prices that would force him to hike interest rates aggressively.

Boracay to reopen with only few businesses deemed compliant

ONLY a small portion of businesses on Boracay Island are deemed compliant with environmental and accreditation requirements just weeks before the resort island returns to operation on Oct. 26 in a so-called “soft opening.”

Trade department evaluating caps on margin for agricultural goods

THE Department of Trade and Industry (DTI) said it may recommend to President Rodrigo R. Duterte a cap on the margins that can be earned on the sale of certain agricultural commodities.

The Teacher

Oct. 5 is observed worldwide as World Teachers’ Day. In the Philippines, the observance of a National Teachers’ Month and Day is led by government and the private teaching community. This formal honoring of teachers in the Philippines, which is aligned with the worldwide celebration of World Teachers’ Day, has drawn and continues to draw, heavy support from volunteer groups such as the Metrobank Foundation.

Mandatory and coercive welfarism by private enterprises

The private sector and civil society groups are the domain of voluntary exchange and volunteerism. In a competitive environment, people sell something, a commodity or service. If the price is good and attractive to many buyers and donors, sellers can prosper; if the price is high compared to quality, buyers and donors will shy away and sellers/providers can go bankrupt.

Green Archers dominate ex-coach, Growling Tigers

THE De La Salle Green Archers got the better of former coach Aldin Ayo after beating the University of Santo Tomas Growling Tigers, 99-72, in University Athletic Association of the Philippines Season 81 action on Wednesday at the Mall of Asia Arena.

Smart recognizes Philippines 2018 Asian Games medalists

SMART Communications recently joined the Philippine Olympic Committee (POC) in honoring Filipino athletes who bagged medals during the 2018 Asian Games held in Indonesia last Aug. 18 – Sept. 2.

Peso up on consolidation ahead of data

THE PESO went up against the dollar on Wednesday as it consolidated ahead of the inflation data release on Friday.

Labor deputy fired

PRESIDENT Rodrigo R. Duterte said he has fired Labor Undersecretary Joel B. Maglunsod.

BoC, BIR officials fired over SALNs

THE DEPARTMENT of Finance (DoF) has dismissed five Customs officials in the first eight months of the year, over “false declarations” in their Statements of Assets, Liabilities and Networth (SALN), and penalized more from other revenue agencies over administrative violations.

ANZ sees inflation hovering above 7% as storm damage stokes price...

INFLATION will likely hover above seven percent in the remaining months of 2018, ANZ Research said, adding to mounting doubts about government expectations that overall price spikes could have peaked last quarter.

Final timetable for 3rd major telco set

THE DEPARTMENT of Information and Communications Technology (DICT) presented on Tuesday the final timetable for selection of the country’s third major telecommunications service provider, with documents available for purchase by interested parties starting Oct. 8, Monday.

Megaworld allocates P500M for Bacolod hotel

MEGAWORLD Corp. continues the expansion of its hospitality business with the development of a P500-million luxury boutique hotel within its Bacolod City township.

AirAsia PHL won’t impose fuel surcharge

PHILIPPINES AirAsia, Inc. said it will not impose a fuel surcharge for domestic and international flights despite securing approval from the Civil Aeronautics Board (CAB), in a move aimed at keeping its fares low in a competitive market.

PETA’s State of the Nation

THE PHILIPPINE Educational Theater Association (PETA) is devoting its 51st season to shows that tackle the current state of the nation: the extrajudicial killings, the rise of trolls and fake news, and historical revisionism, among other topics.

Xurpas forms remittance, VCE subsidiary

XURPAS, Inc. is forming a new subsidiary that will focus on remittances, money transfers and operate as a virtual currency exchange (VCE).

M Butterfly takes wing, to go on tour in 2019

WHILE it has concluded its run, the Manila staging of Henry David Hwang’s M Butterfly isn’t ready to hang up the costumes, the intrigues, and the scandalous love story of Rene Gallimard and Song Liling, as its producer Jhett Tolentino announced that they will be taking the butterfly on tour next year through five cities in the Philippines.

Iran works to deepen marts with new financial products

IRAN is developing a range of new financial products, from Islamic bonds to warrants and insurance-linked securities, in an effort to give local firms more funding options as sanctions put pressure on the economy.

Recto Bank exploration deal eyed for Xi visit

MALACAÑANG on Tuesday said it is “doing everything” to ensure that a joint oil exploration deal between the Philippines and China on the Service Contract (SC) 72 located in the disputed Recto (Reed) Bank in the West Philippine Sea will be signed during Chinese President Xi Jinping’s visit to Manila in November.

DTI recruiting major retailers to sell P38/kilo imported rice

THE Department of Trade and Industry (DTI) will invite major retailers to import 350,000 metric tons (MT) of rice to supply supermarkets by the end of October, noting that two such groups have expressed their willingness to import the staple.

Business-minded or business-hindered?

“A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.” -- Nolan Bushnell, Entrepreneur

Political Railroading

We’ve seen how politicians in power get the things they want and to hell with the law or due process. The arrest of Senator Antonio Trillanes IV is what is called in Tagalog, santong paspasan or barasuhan. It’s also called railroading.

Trillanes blasts Calida, defends 2011 amnesty

IN HIS privileged speech on Monday, Senator Antonio F. Trillanes IV presented anew documents and media reports attesting to his full compliance to his 2011 amnesty application.

Court denies Palparan’s motion against transfer to Bilibid

MALOLOS CITY Regional Trial Court (RTC) Branch 15 denied a motion by retired general and convicted kidnapper Jovito S. Palparan, Jr. against his transfer to the New Bilibid Prison, Justice Secretary Menardo I. Guevarra said.

Rain or Shine looks to arrest bad start in Governors’ Cup

HAVING opened their Philippine Basketball Association Governors’ Cup campaign with two straight losses, the Rain or Shine Elasto Painters look to break through the win column when they take on the Alaska Aces today at the Smart Araneta Coliseum.

De La Salle Green Archers face off with Ayo-coached UST Growling...

FOR the first time since parting ways late last year, the De La Salle Green Archers will face off with former coach Aldin Ayo when they take on the University of Santo Tomas Growling Tigers in the curtain-raiser of University Athletic Association of the Philippines Season 81 action today at the Mall of Asia Arena.

New-generation Continental GT is latest Bentley in PHL

FUSING together sport and opulence, speed and long-distance coziness, has been the Bentley Continental GT’s brief from Day One -- or since 2003, when the original model debuted. Three generations later, the car faithfully keeps to its reason for being, all while packing the latest in car-making technologies. The all-new Continental GT, launched in September last year at the Frankfurt Motor Show, is a rolling-sculpture proof of this. And, now, it has arrived in the Philippines (it’s now available at the newly refurbished Bentley Manila showroom in Bonifacio Global City).