Time is ticking for couple struggling to save for retirement — but they have $75,000 in pension income to fall back on

Situation: Couple wants to have their present take home income in retirement and has 17 years to make it happen Solution: Use HELOC to pay off expensive timeshare loan and bank on company pensions to achieve their goal In Ontario, a couple we’ll call Louis, 48, and Sally, 42, are raising two children, Kim, 15, and Pat, 12. They are employed by large companies, Louis in information technology and Sally at a research firm. Sally’s…

"Time is ticking for couple struggling to save for retirement — but they have $75,000 in pension income to fall back on"

DENR claps P1-M fine on GSMI unit

A wholly-owned subsidiary of Ginebra San Miguel, Inc. has been fined P1.03 million by the Department of Environment and Natural Resources (DENR) for failing to meet environmental standards. In a disclosure to the stock exchange Friday, the liquor firm said its subsidiary East Pacific Star Bottlers Phils, Inc. (EPSBPI) was fined by the Pollution Adjudication Board of DENR for violating Republic Act No. 9275 or the Philippine Clean Water Act of 2004. “DENR-PAB issued an…

"DENR claps P1-M fine on GSMI unit"

8990 pays P27-M fine imposed by PCC

8990 Holdings, Inc. has paid the P27.11 million fine imposed by the Philippine Competition Commission (PCC) after its subsidiary Urban Deca Homes Manila Condominium Corporation was charged with abuse of dominance. Marking the country’s first abuse of dominance case, Urban Deca Homes was found to have imposed its in-house internet service provider (ISP) Fiber to Deca Homes on unit owners and tenants at its Tondo, Manila property. “Considering that the provision of internet services is…

"8990 pays P27-M fine imposed by PCC"

Peso strengthens further on hopes of US-China trade deal

BW FILE PHOTO THE PESO climbed further on Friday on the back of optimism on a trade deal between the United States and China. The local unit finished at P51.58 against the greenback on Friday, gaining six centavos from its P51.64-to-a-dollar close on Thursday. Week on week, it strengthened by 15 centavos from the P51.73 close last Oct.4. The peso started the session at P51.55 versus the dollar. Its worst showing for the session was…

"Peso strengthens further on hopes of US-China trade deal"

PLDT to conduct consent solicitation exercise

PLDT, Inc. is seeking to amend the terms of its seven-year and ten-year fixed-rate bonds to help it gain flexibility in raising its budget for capital spending. The telecommunications firm told the stock exchange Friday it is asking bondholders to agree to the amendment of the maximum stand-alone total debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio in its trust indenture for the bonds to 4.0:1 from 3.0:1. The consent solicitation exercise…

"PLDT to conduct consent solicitation exercise"

PNB raises P4.6 billion via LTNCDs

PHILIPPINE National Bank (PNB) has raised P4.6 billion in long-term negotiable certificates of deposit (LTNCD), marking the second tranche of its P20-billion program approved by the central bank. PNB on Friday listed the debt papers which have a tenor of 5.5 years and an interest rate of 4.375% at the Philippine Dealing & Exchange Corp. (PDEx). The bank’s offer was more than twice oversubscribed against the announced issue size of P2 billion, PNB Chief Financial…

"PNB raises P4.6 billion via LTNCDs"

Economic managers to discuss imposition of safeguard duties on rice imports

REUTERS AGRICULTURE Secretary William D. Dar has terminated the process of studying the imposition of safeguard duties on imported rice. “The decision by the department is to have this be discussed first with the economic developers of the government, so the first process is terminated,” Mr. Dar told reporters after a press briefing on Friday. The Department of Agriculture (DA) will be discussing the safeguard duties with economic development managers on Oct. 24, Thursday. The…

"Economic managers to discuss imposition of safeguard duties on rice imports"

SEC asks Google’s help in crackdown vs illegal lending apps

By Denise A. Valdez, Reporter THE Securities and Exchange Commission (SEC) is seeking assistance from Google Philippines in its crackdown against illegal online lending applications. SEC Commissioner Kelvin Lester K. Lee told reporters Thursday the corporate regulator has scheduled a meeting with Google on Monday to discuss possible courses of action to stop apps of these illegal lenders from sprouting up on Google Play. Google Play is the official app store for the Android operating…

"SEC asks Google’s help in crackdown vs illegal lending apps"

Buskowitz targets residential clients for solar rooftop systems

BUSKOWITZ Finance, Inc., the solar energy developer that also provides financing solutions for its customers, is expanding its reach by taking in residential clients for its solar rooftop systems as the company looks at the government’s “green energy option” program to result in greater adoption of renewable resources. “Our target is to become ‘the retailer’ — to go straight to consumers and offer them exactly that option — only green energy for their supply and…

"Buskowitz targets residential clients for solar rooftop systems"

DENR lifts suspension on DMCI mining unit

THE government has lifted the suspension of mining operations of DMCI Mining Corp.’s nickel mine in Zambales. In a disclosure on Thursday, its parent company DMCI Holdings, Inc. said Zambales Diversified Metals Corp. (ZDMC) received the resolution dated Sept. 30 issued by the Department of Environment and Natural Resources on Oct. 9. “Through said Resolution, DENR has ordered to lift the suspension of ZDMC’s mine operations,” DMCI said. ZDMC is a nickel mine site in…

"DENR lifts suspension on DMCI mining unit"