Make sure your charity of choice has charitable status before making a donation

December is the busiest fundraising month of the year for many charities, as donors scramble to make year-end donations in time to get a donation receipt for 2019, the deadline being midnight on Dec. 31. In last week’s column, I shared a variety of tax strategies for donating to charity. This week, let’s take a deeper dive into the charities themselves and what it takes to be a registered charity, in light of a recent…

"Make sure your charity of choice has charitable status before making a donation"

Alberta couple laid off in their late 50s now face 31% collapse in property value

Situation: Couple that both lost their jobs needs to boost retirement income quickly Solution: Free up capital by selling money-losing rental and downsizing house In Alberta, a couple we’ll call Liam and Ruth, both 60, were shown the door in their respective professions of electrical engineering and management consulting. They have been retired by circumstance rather than by plan since 2015. Out of work, they are in a financial bind. A total of 63 per…

"Alberta couple laid off in their late 50s now face 31% collapse in property value"

Ayala Healthcare acquires Healthway chain of clinics

AYALA Healthcare Holdings, Inc. (AC Health) said it acquired 100% of clinic network Healthway from Hong Kong’s HKR International Ltd (HKRI). “We are very pleased to welcome Healthway to AC Health and the Ayala group. The Healthway name has become synonymous with quality healthcare and has been well-regarded among patients and medical professionals. We intend to build on this further, as we integrate Healthway with our AC Health portfolio,” AC Health Chairman Fernando Zobel de…

"Ayala Healthcare acquires Healthway chain of clinics"

PAL Holdings confirms departure of two board members

COMPANY HANDOUT TWO board members of Philippine Airlines (PAL), Inc., former central bank governor Amando M. Tetangco, Jr. and lawyer Estelito P. Mendoza, have resigned, PAL Holdings, Inc. confirmed Friday. In a disclosure to the stock exchange on Friday, PAL Holdings, Inc., the parent company of PAL, said: “As confirmed with the Corporate Secretary of Philippine Airlines, Inc., Atty. Marivic T. Moya, both Governor Amando (M.) Tetangco, Jr. and Atty. Estelito (P.) Mendoza have submitted…

"PAL Holdings confirms departure of two board members"

Flaship projects seen slowed by ODA delays, skilled-worker shortages

THE government is likely to struggle to complete most of the infrastructure projects on its flagship list before President Rodrigo R. Duterte steps down in 2022, largely due to slow implementation of foreign-aided loans and unresolved bottlenecks, the Economist Intelligence Unit (EIU) said. “(EIU) maintains its view that the authorities will struggle to complete the bulk of its infrastructure agenda before the next presidential election in 2022,” it said in a report sent to BusinessWorld.…

"Flaship projects seen slowed by ODA delays, skilled-worker shortages"

OSG to pursue ‘all options’ in contesting water arbitral ruling

THE Office of the Solicitor General (OSG) said it will exhaust all legal remedies in response to the P7.39 billion award granted by an arbitral tribunal to Manila Water Co., Inc. “The Office of the Solicitor General (OSG) will exhaust all available legal remedies against the award recently rendered by the arbitral tribunal constituted under the Permanent Court of Arbitration in Singapore, in an arbitration which Manila Water Co. Inc. (Manila Water) initiated against the…

"OSG to pursue ‘all options’ in contesting water arbitral ruling"

Peso continues rally against dollar

PHILSTAR/MIGUEL DE GUZMAN THE peso continued to rally against the dollar on Friday on positive market sentiment about inflation. The currency closed at P50.765 against the greenback, 3.5 centavos stronger than a day earlier, according to data from the Bankers Association of the Philippines.It also appreciated by 4.5 centavos week on week. The peso opened at P50.72, which was also its strongest level. It weakened to as much as P50.79. Dollars traded slipped to $899.2…

"Peso continues rally against dollar"

PECO to appeal SC TRO blocking Mandaluyong RTC expropriation ruling

PANAY Electric Co., Inc. (PECO) said it will “immediately “ ask the Supreme Court to reconsider its decision to block the implementation of a local court’s judgment that stopped Iloilo City’s new distribution utility from taking over the company’s assets. In a statement on Friday, PECO said it had been informed of the High Court’s issuance of a temporary restraining order (TRO) provisionally stopping the implementation of the Regional Trial Court (RTC) of Mandaluyong City’s…

"PECO to appeal SC TRO blocking Mandaluyong RTC expropriation ruling"

Dollar reserves hit $86.39B at end-November

BW FILE PHOTO THE country’s dollar reserves rose by $560 million from a month earlier to $86.39 billion at the end of November, giving the central bank enough buffer against liquidity shocks, the Bangko Sentral ng Pilipinas (BSP) said on Friday. The month-on-month increase in gross international reserves reflects the inflows arising from BSP’s foreign exchange operations and income from its investments abroad, and the National Government’s net foreign currency deposits, it said in a…

"Dollar reserves hit $86.39B at end-November"