Money
Globe warns of new voice phishing scam
Ayala-led Globe Telecom Inc. on Monday warned customers against a new vishing or voice phishing scam, where fraudsters call victims pretending to be officials of the National Telecommunications Commission (NTC). According to Globe, scammers call victims claiming that their number had been linked to illegal activities, and would then extort money from them with threats of arrest if they do not cooperate. “Criminals prey on our natural respect for...
MoneyBMW iX1 launched in PH
SMC Asia Car Distributors Corp. recently unveiled the BMW iX1 eDrive20 xLine to the Philippine market. "The BMW iX1 eDrive20 xLine redefines the premium compact sports activity vehicle with a bolder look, a more spacious interior, and advanced technology, it offers an elevated driving experience," the company said. The company said it expects its latest Sports Activity Vehicle (SAV) to "give a major boost to the accelerated ramp-up of electric...
MoneyPH sold 24.9 tonnes of gold in H1 2024; part of strategy, says BSP
The Bangko Sentral ng Pilipinas (BSP) on Monday defended the sale of its gold holdings in the first half of the year, saying this is part of its “active management strategy” of the country’s gold reserves. “The BSP took advantage of the higher prices of gold in the market and generated additional income without compromising the primary objectives for holding gold, which are insurance and safety,” the central bank said in an emailed statement....
MoneyToyota hands over luxury SUV to Carlos Yulo
Toyota Motor Philippines Corp. (TMP) on Monday handed over a brand new Land Cruiser Prado to Filipino athlete Carlos Yulo, adding to the rewards given to the country’s first two-time Olympic Games champion. The luxury sports utility vehicle (SUV) was awarded to Yulo in Toyota’s manufacturing plant in Sta. Rosa, Laguna, in a ceremony led by the company’s president Masando Hashimoto and vice chairman David Go. The reward was announced last month....
MoneyBIR: ‘Flexing’ skincare entrepreneur has billions in tax liabilities
The Bureau of Internal Revenue (BIR) is now computing the tax liabilities of a beauty products and skincare entrepreneur it earlier described as “flexing” on social media. The bureau considers the individual another “big fish” caught with billions of pesos worth of tax violations. “Nabigyan na sila ng [Letter of Authority]… natapos na. Nagko-compute pa lang as to magkano ‘yung magiging liability niyan,” BIR Commissioner Romeo Lumagui Jr. told...
MoneyOver P1 per liter rollback in fuel prices seen next week
Motorists should expect an over a peso per liter decrease in domestic pump prices in the coming week. Citing oil industry estimates, based on international trading in the past four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said that a rollback in full prices “will be experienced by our motorists next week.” The estimated downward adjustments are as follows: Gasoline - P1.00 to P1.30 per liter...
MoneyInflation rate slows down to 3.3% in August
The Philippines’ inflation rate eased in August, after an acceleration seen in the prior month, due to slower increases in food and transportation cost during the period, the Philippines Statistics Authority (PSA) reported on Thursday. At a press conference, National Statistician and PSA chief Claire Dennis Mapa said that inflation —which measures the rate of increase in the prices of goods and services— decelerated to 3.3% last month, slower...
MoneyChery Auto gifts Carlos Yulo a Tiggo 7, lifetime free oil change
Filipino gymnast Carlos Yulo, who made history by winning two gold medals at the Paris 2024 Olympics, has received a Chery Tiggo 7 Pro SUV from Chery Auto Philippines. In a news release on Thursday, the automaker said it turned over the brand-new vehicle to Yulo, along with three years' free standard preventive maintenance service, three years' free roadside assistance, five years' (or 150,000 kms, whichever comes first) bumper to bumper...
MoneyPH payments position back to surplus in July
The Philippine balance of payments (BOP) position swung back to a surplus in July after the deficit in the previous month due mainly to inflows from the overseas investments of the Bangko Sentral ng Pilipinas (BSP), data released on Monday showed. The BOP position stood at a $62-million surplus in July, reversing the $155-million deficit in June, and the $53-million surplus the same month last year. The payments position takes into account...
MoneyRecto bares how much PH debt has risen from Marcos Sr. to Marcos Jr.
Finance Secretary Ralph Recto on Wednesday revealed how much debt the Philippine government has accumulated from late President Ferdinand Marcos Sr.’s regime up to the present administration of the latter’s son and namesake, Ferdinand “Bongbong” Marcos Jr. During the Senate’s continuation of its deliberations on the proposed P6.352-trillion national budget next year, Recto allayed concerns about the Philippines’ ballooning sovereign debt. “Our...
MoneyAmid graft rap vs Vico Sotto, Converge says no tax discount from Pasig
Fiber internet service provider Converge ICT Solutions Inc. on Wednesday said it has not been granted any form of tax discount by the Pasig City government. At a press briefing, Converge chief finance officer Robert Yu said the company "has yet to receive any formal complaints or court summons on this alleged tax discount given by Pasig to us." "For the record, we have not received any tax discount from the City of Pasig," Yu said. This...
MoneyGasoline and kerosene prices down by over P2/liter Tuesday
Fuel retailers are set to implement a major pump price rollback this week, marking the third straight week of downward adjustments for gasoline, and the fifth for both diesel and kerosene. In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Seaoil Philippines Corp. and Shell Pilipinas Corp. said they will reduce prices per liter of gasoline by P2.45, diesel by P1.90, and kerosene by P2.40. Cleanfuel, Petro Gazz,...
MoneyBig-time fuel price rollback seen next week
Motorists should expect another round of rollback in the pump prices of petroleum products next week, which could mark the third straight week of cuts for gasoline and fifth for diesel and kerosene. Citing industry estimates based on four-day international oil trading, Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said that “prices of petroleum products in the domestic pump will rollback next week, August 13,...
MoneyAmCham-SM partnership seen to upskill Pinoys, boost job-matching
The American Chamber of Commerce of the Philippines (AmCham) said Tuesday it partnered with Sy-led conglomerate SM Group to upskill workers within its network and collaborate with the company’s job-matching program. In a news release, AmCham said it joined SM Group’s Job Opportunities Building Skills (J.O.B.S.) advocacy. Under the partnership, the American investors’ group will tap the upskilling opportunities through J.O.B.S for its thousands...
MoneyPSBank H1 net income up 18%
Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, on Monday reported an 18% growth in its first-half net income on the back of strong demand for its consumer loans during the period. PSBank said its net income climbed to P2.56 billion from P2.17 billion a year ago, as net interest income grew by 4% to P6.08 billion while total operating income stood at P7.74 billion. Operating expenses grew by 5% to P4.62 billion....
MoneyHealth reforms pushed to lower Filipinos’ out-of-pocket spending
Health think tank Unilab Center for Health Policy (UCHP) has released two research papers putting forward recommendations on how to lower out-of-pocket medical expenses in the country. The first study, conducted by former UP School of Economics dean Orville Solon, Dr. Alejandro Herrin, and Dr. Michael Mo, delved into the Philippine National Health Accounts (PNHA) from 1991 to 2022 to see the trends and impacts of government reforms to improve...
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