It’s back to the drawing board for more refinements on the Anti-Money Laundering Act when Congress re-convenes after the midterm elections.
The latest amendments to the law were not good enough for the Financial Action Task Force to remove the Philippines from the list of countries that are not fully compliant with its anti-money laundering standards
In what may be considered a sign of the growing maturity of Filipinos in handling their excess income, the amount of money held by banks in their trust accounts has, of late, reportedly reached some P3 trillion.
Is the Bureau of Internal Revenue so desperate in meeting its collection targets that it wants to impose taxes on money that homeowners have to raise to make up for the shortcomings of government?
Scriptwriters and finance experts share a common trait: They are imaginative in the choice of titles and plots for their crafts.
The self-righteous senators have fallen from their pedestal.
Unless the Department of Transportation and Communications changes its mind, two of the country’s most profitable business conglomerates—San Miguel Corp. and JG Summit Holdings—would be barred from participating in the bidding for the expansion and operation of the Mactan-Cebu International Airport.
Last week, the Supreme Court issued an entry of judgment on its ruling in June 2011 on the issue of foreign ownership in PLDT where it held that the 60-40 (percent) nationality requirement in public utility corporations, in favor of Filipinos, refers to common shares entitled to vote in the election of directors, not to the totality of the company’s capital stock.
The clock is ticking on the deadline set by the Financial Action Task Force on Money Laundering for the Philippine government to further amend the Anti-Money Laundering Act and plug perceived loopholes in the law.
Barring last-minute hitches, the Department of Justice is expected to release this week (or next) its resolution on the syndicated estafa charges filed against businessman Manuel Amalilio and his associates in Aman Futures Group Phils. Inc.
By this time of the month, most businesses have come up with the names of the people they will send gifts to for various reasons.
When a company’s bottom line fails to meet management’s expectations, the first item in the corporate books that is usually looked into is expenses.
While the business community may have thought that credit ratings agencies have successfully dodged their liability for erroneous ratings that contributed to the near financial meltdown of the United States in 2008, an Australian court recently doused that impression.
