SEC says Kapa-Community has not applied for secondary license

THE Securities and Exchange Commission (SEC) refuted claims by alleged investment scam Kapa-Community Ministry International that it has filed for a license to solicit investments from the public, noting that its incorporation papers remain suspended. In a statement issued Tuesday, the country’s corporate regulator said Kapa has been making false claims on social media that it has submitted an application for a secondary license that will allow it to offer and sell securities to the…

"SEC says Kapa-Community has not applied for secondary license"

UnionBank looking to issue P20-billion unsecured debt

UNIONBANK of the Philippines, Inc. is looking to issue fresh debt as well as redeem old papers. UNIONBANK of the Philippines, Inc. wants to issue up to P20 billion unsecured subordinated debt as well as to redeem voluntarily P7.2 billion worth of unsecured subordinated debt due 2025. The Aboitiz-led lender said in a disclosure to the local bourse that its board of directors, after its meeting last Aug. 23, approved to issue unsecured subordinated debt…

"UnionBank looking to issue P20-billion unsecured debt"

DoLE’s SoT bill draft still awaiting input from economic team

PHILSTAR THE Department of Labor and Employment (DoLE) said it is still consulting economic managers and the business sector on its draft security of tenure (SoT) bill, further delaying its scheduled submission to Congress this month. Assistant Labor Secretary Benjo Santos M. Benavidez told BusinessWorld Tuesday that DoLE still needs to send its draft to the National Economic Development Authority (NEDA), Department of Trade and Industry (DTI), and Department of Finance (DoF) for comment. He…

"DoLE’s SoT bill draft still awaiting input from economic team"

DICT unveils priority initiatives

By Denise A. Valdez, Reporter THE Department of Information and Communications Technology (DICT) is seeking collaboration with other government agencies as it identified five priority initiatives. In a Strategic Development Partners’ Forum yesterday, the DICT unveiled five initiatives that will support its promotion of a digital ecosystem in the Philippines. A key element of this list is deploying information officers among government agencies. “We intend to share with you DICT’s strategic direction and plans, challenges…

"DICT unveils priority initiatives"

Bank of the Philippine Islands gets investment-grade rating from S&P

AYALA-LED Bank of the Philippine Islands (BPI) secured on Tuesday a “BBB+” long-term and “A-2” short-term issuer credit ratings (ICR) with a stable outlook from S&P Global Ratings. “This is the first credit rating assigned by S&P to the bank, of which the ‘BBB+’ ICR is at par with the Philippine sovereign rating of ‘BBB+,’” the lender said in a disclosure on Tuesday. “The stable outlook on BPI reflects our view that the bank will…

"Bank of the Philippine Islands gets investment-grade rating from S&P"

Hello, This Is Artificial Intelligence. How Can I Help You? Eye on A.I.

People who call companies to ask questions about their cable bills or complain about their Internet service being out are increasingly talking to artificial intelligence. Natural language processing, a subset of A.I. that helps computers understand speech, has become good enough that it’s being used to listen and respond to basic customer questions. Over the past year, Google, Amazon and business software firm Twilio have all ramped up their marketing of A.I.-powered software for call…

"Hello, This Is Artificial Intelligence. How Can I Help You? Eye on A.I."

Financial Security of Future Retirees in Jeopardy After ‘Financial Vandalism’ of Falling Yields

A once-unthinkable collapse in global bond yields is forcing pension funds to buy bonds that offer negative returns — putting the financial security of future retirees in jeopardy. U.S. institutions managing trillions of dollars in retirement savings — including the California Public Employees’ Retirement System — have been ratcheting down return expectations. Japan’s Government Pension Investment Fund, the world’s largest, has warned that money managers risk losses across asset classes. In Europe, pension funds may be forced…

"Financial Security of Future Retirees in Jeopardy After ‘Financial Vandalism’ of Falling Yields"

PCA looking for suitable public land to expand coconut planting

THE Philippine Coconut Authority said it is seeking suitable public land for the expanded planting of coconut trees. “What we want (is) an inventory of public land where we can plant coconut… (and set up) a registry of coconut trees,” Gonzalo T. Duque, PCA administrator, told reporters. Data from the Philippine Statistics Authority (PSA) noted that coconut production in the first quarter of the year was slightly up 0.2% to 3.31 million metric tons (MT),…

"PCA looking for suitable public land to expand coconut planting"

Ayala Land gets top credit rating for P5-B bonds

AYALA LAND, Inc. (ALI) has secured the top rating for its fixed-rate bonds worth P5 billion, according to a local debt watcher. In a statement Tuesday, the Philippine Rating Services Corp. (PhilRatings) said it assigned an issue credit rating of PRS Aaa to ALI’s five-year bonds. This is the highest on its credit rating scale, indicating that the property giant has an “extremely strong” capacity to meet its obligations. The rating also carries a stable…

"Ayala Land gets top credit rating for P5-B bonds"

Gov’t fully awards three-year T-bonds

BW FILE PHOTO THE GOVERNMENT made a full award of the reissued three-year Treasury bonds (T-bond) it offered yesterday on the back of strong demand following the speech of US Federal Reserve Chief Jerome Powell over the weekend and bets of monetary easing by the local central bank as early as next month. The Bureau of the Treasury fully awarded P20 billion worth of the reissued bonds, with total tenders amounting to P56.6 billion or…

"Gov’t fully awards three-year T-bonds"