COME September, finance ministers from Asia Pacific Economic Cooperation (Apec) member-nations will be in Cebu for the three-day Finance Ministerial Meeting to firm up a road map that the Philippines is proposing to make the region more inclusive.
Deputies from finance ministries and central banks of Apec nations met in Tagaytay recently to fine-tune the Cebu Action Plan, a plan to make Apec member-nations more financially integrated, transparent and resilient.
BUSINESS organizations in Cebu cautioned that a recent Cebu Ports Authority (CPA) resolution increasing the basic rates and penalties for overstaying containers by more than 1,800 percent could stifle commerce.
In a letter addressed to Cebu Port Commission vice-chair and CPA General Manager Edmund Tan last March 4, the Cebu Chamber of Commerce and Industry (CCCI), Philippine International Sea-freight Forwarders Association Cebu Chapter and Cebu Business Club expressed “vehement opposition” to Resolution No. 330-20015.
MY experience of living for an extended period in Turkey was a fascinating one. The country is truly and remarkably one of the most beautiful places in the world. Straddling two continents, it has one foot firmly in Asia, with the other planted in Europe. The location, if you like, is symbolic of what the nation stands for today, a culture that is unmistakably Moslem in its character, but also a civilization that is decidedly European in its outlook.
RADISSON Blu Cebu unveiled last Tuesday the first Dilmah t-Bar in the Philippines.
Located in the hotel’s lobby, the Dilmah t-Bar will showcase 21 single-origin teas grown from low, mid and high altitudes in Sri Lanka, China, Japan and South Africa.
AS SALES clerk of petitioner Bluer Than Blue Joint Ventures Company, part of the primary tasks of respondent Glyza Esteban were attending to all customer needs, ensuring efficient inventory, coordinating orders from clients, cashiering and reporting to the accounting department.
In November 2006, the petitioner received a report that several employees have access to its point-of-sale (POS) system through a universal password given by Elmer Flores. Upon investigation, it was discovered that it was Esteban who gave Flores the password.
THE Philippines may have a low insurance penetration rate, but the way Sun Life Financial Philippines president and CEO Riza Mantaring sees it, it can only mean more room for the industry to grow.
THE project cost of all residential developments in Central Visayas for subdivision and condominium projects has reached close to P17 billion in 2014.
FIVE regional design centers have been established by the government to institutionalize and promote design and culture across the country.
According to the Philexport’s news portal, the design centers will be in Davao, Cebu, Bacolod, Legazpi and Pampanga.
VOYAGER Innovations, Inc. (Voyager), a digital financial and commerce unit of Smart Communications, Inc. (Smart) has announced its strategic partnership with Cash Credit, a Sofia-based financial technology company.
The companies will jointly roll out a mobile-based microfinance program within the first half of 2015, applying big data analytics to offer financial services to Smart’s combined subscriber base of over 75 million.
I recently read an article that says that in an average lifetime, we lose a total of almost three years waiting in line. That much? It is certainly possible. We line up to get taxis and buses, pay bills, buy groceries and gas, board a plane, withdraw money, board an elevator, order food, get passports and visas, enroll in school, eat in restaurants, buy tickets, take rides in amusement parks, see doctors and dentists, buy medicine, and many more.
JAPAN’S second largest bank Sumitomo Mitsui Banking Corp. and at least six other banks in Asia are poised to enter the Philippines, a result of a new law that recently liberalized foreign ownership restrictions in the banking industry.
In a report, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor A. Espenilla Jr, said two foreign applications have been filed with BSP. He added that he is expecting more to file “soon.”
RECONCILING the global mindset with the local culture is what this year’s Cebu Business Month will be focused on, overall organizing chairman Francis Dy said.
Dy made a presentation to members of the Cebu Chamber of Commerce and Industry during their general membership meeting last week of activities that they will be holding for June. They are set to launch the CBM later this month.
PEOPLE today can order almost anything online: food, clothes, shoes, bags, books, music, movies and other novelty items.
THE Economic Development Committee (EDC) has endorsed to the Regional Development Council (RDC) Full Council the discussion on the congestion and over-capacity at Cebu International Port (CIP) that has affected the business community.
EDC Chairman Robert Go said CIP is congested because the goods are slow to withdraw and container yards are overcrowded.
PUBLIC high schools in the provinces, specifically in Batangas and Negros Occidental, now have access to 21st century learning with the continued expansion of the Global Filipino School (GFS) program, a long-term educational initiative of Globe Prepaid.
Select educational institutions for GFS are Sico 1.0 National High School in San Juan, Batangas and Bata National High School in Bacolod City, Negros Occidental.
AS PART of its aggressive move in the domestic auto industry, Nissan Philippines Inc. will open 10 new dealerships in the country this year, with six of them to open this month.
AS it moved into a more accessible and spacious area inside Ayala Center Cebu, a homegrown fashion accessory firm, Gems and Designs by Premium Concepts, will be introducing an interactive customer experience, through the use of technology.
Aside from a more vibrant and refreshing feel, Melanie Ng, owner of Gems and Designs, said the new store is equipped with a computer where customers can do online research on designs of bracelets, necklaces and earrings they wish to be assembled by the staff of the store.
Taiheiyo Cement Philippines, Inc. (TCPI) doubled its capacity to deliver Grand Cement products to markets off Cebu as Solid Earth Development Corp. (SEDC) inaugurated recently its expanded port facilities in South Poblacion, San Fernando, Cebu.
Cebu Vice Governor Agnes Magpale attended the inauguration with San Fernando Vice Mayor Miguel Antonio Canoy as she inspected the limestone mining quarry of SEDC and the cement manufacturing facility of TCPI in the same barangay as the pier.
BEFORE he passed the bar exam and became a lawyer, Jacinto V. Mendez supported himself by working as a security guard for three years. On March 5, 1965, he returned to his roots in security by establishing Centurion Security Agency Inc.
THE continued entry of more luxury brands to the Philippine market is seen to boost the country’s shopping tourism, an industry stakeholder said.
More than a reflection of investor confidence on the country’s economic fundamentals, Consul Robert Joseph believes the expansion of high-end products in the country is an opportunity to entice more tourists to travel.
THE Filinvest Group continues to expand its presence in Cebu as its subsidiary, Filinvest Alabang Inc (FAI), recently marked its first regional expansion in Cebu with the launching of the P4-billion Serulyan Seascapes in Lapu-Lapu City.
The development, which will have six towers, will nestle in a two-hectare property near Crimson Resort and Spa, which is also a Filinvest project. FAI Serulyan Seascapes project head Don-Don Mari S. Ubaldo said the development is part of the Filinvest Premiere home brand category and will offer to the market 581 high-end condominium units.
THIS year will be a “double banner year” for Radisson Blu Hotel Cebu after it posted high growth in occupancy and profits in 2014, a top hotel executive said.
Nishan Silva, the general manager of the 400-room hotel, said 2014 was a banner year with an occupancy of 75 percent and a total revenue higher than its target.
OUR 1987 Constitution provides for a uniform, equitable and progressive system of taxation, wherein taxes are based on one’s ability to pay. The poor and the middle class should not be taxed at the same level as the upper class. This is not the case, however, looking at our current tax rates. The Philippines has one of the highest personal income tax rate at 32 percent. This rate has not been adjusted for decades, distorting the lines between the poor, the middle class and the wealthy.
“The best time to plant a tree was 20 years ago. The second best time is now." – Chinese proverb
The family business owner should view the tree as an investment for the future. That investment is the family constitution. If you missed investing on a family constitution 20 years ago, the second best time to start investing in one is now.
DESPITE the low price of oil in the world market, power rates in most of Metro Cebu have remained the same. An official of the Visayan Electric Co. (Veco) explained that the reason for this is the low fuel component in their energy mix.
SUN Savings Bank’s high growth trajectory propelled it to new heights in 2014. By yearend, its total assets reached a record level of P550 million, increasing by 46 percent over the 2013 level of P377 million.
The higher-yielding assets, in particular the loans and receivables portfolio, grew to P315 million, which was 63 percent higher than the year-ago level of P194 million.
THE Philippines needs an auto industry road map if it wants to stay competitive with neighboring countries in Southeast Asia, an auto company official said.
A COMPANY that offers personality development training recently opened its new facility in Banilad, Cebu.
Self-Esteem Learning Formation Institute (Selfi) Studios says it aims to enhance personality development through month-long workshops on hosting, dancing, acting, modeling and cosmetics starting this summer.
IF SOME sectors are calling for President Benigno Aquino III to step down, leaders of Cebu’s business sector are against the idea.
“That call is crazy,” said Cebu Chamber of Commerce and Industry (CCCI) President Ma. Teresa Chan at the sidelines of the CCCI’s general membership meeting.
Nonet Madriñan-Bolo Contributor
“IN Manga is Manga. In Maribojoc is Maribojoc.” Such was the serious reply of a gentle woman who acts as a local guide for the SAVIMA Mangrove Adventure, a mangrove community in the town of Maribojoc, Bohol.