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Transcending the new frontier

The Financial Executives Institute of the Philippines (FINEX) will hold its first-ever virtual induction of officers and inaugural ceremonies today. Taking over the helm of the country’s foremost finance organization as the 2021 FINEX President is seasoned lawyer Francisco Edralin Lim, former President and CEO of the Philippine Stock Exchange.

Signals of recession and recovery

The Philippine economy’s performance in the third quarter was worse than expected. Contracting 11% year on year, the country’s gross domestic product went into negative territory for the third consecutive quarter.

Listing Filipino firms abroad

Two homegrown firms are about to be listed in foreign stock exchanges. One of them is fintech venture iWave, Inc., a unit of Philippine Stock Exchange (PSE)-listed DFNN, Inc. engaged in systems integration, information technology, and software development.

Infra buildup to spur inclusive growth

During the first “Sulong Pilipinas” consultative conference in June 2016, the Duterte administration unveiled its 10-point socioeconomic agenda for inclusive growth. Chaired by then-incoming Finance Secretary Carlos Dominguez III, the conference took place at SMX Lanang Convention Center in Davao City.

Enacting an anti-COVID budget

Finance Secretary Carlos Dominguez III has stated time and again that the 2021 national budget is crucial to the recovery of our pandemic-ravaged economy. In media briefings, he said there is no Plan B and if the passage of the appropriations bill is delayed, the government will have to operate on a reenacted budget just like in the first quarter of 2019. In hindsight, we know about its dire repercussions on the country’s GDP growth last year.

Startup nation 2.0

A relatively new state with a population of 8.5 million is fast becoming the closest competitor of America’s Silicon Valley as a global technology hub....

Stimulus package for the tourism sector

In recent years, the Philippine economy has relied on three major pillars of growth: the remittances of overseas Filipino workers (OFW), the business process outsourcing (BPO) industry, and the tourism sector. Of the three, only the BPOs have survived the pandemic since many OFWs lost their jobs while the airlines and hospitality establishments are on the brink of collapse.

Pandemic-resilient industries

When the Philippines’ second-quarter economic performance data was released last week, Acting Socioeconomic Planning Secretary Karl Kendrick Chua remarked: “Our country is facing the biggest crisis in nearly eight decades.” His reference point was the Second World War in the 1940s, when the economy plunged 70% compared to pre-war output, according to a study done by former Economic Planning Minister Gerardo Sicat.

Convergence of fintech and agribusiness

The Philippine Competition Commission (PCC) expects the country’s markets to witness changes resulting from the pandemic. The corporate restructuring process will be in the form of mergers, consolidations, or even exit of firms.

New beginnings

At the Threshold of New Beginnings is the title of a coffee-table book launched by the Rotary Club of Makati West (RCMW) last month. The book traces the history of RCMW starting from the tumultuous year of 1969 up to the last ‘old normal’ year of 2019 and even beyond, touching on the early months of the current global crisis.

The resilience of remittances

In the World Bank’s 2019 Migration and Development Brief, the Philippines ranked as the world’s fourth-largest remittance destination after India, China, and Mexico, while among the top originating countries of senders were the US, Singapore, and Hong Kong.

Vision and consistency

Being a visionary and having consistency in character are sometimes mistaken for stubbornness or self-absorption. These are negative traits attributed to people by conventional wisdom.

Rebooting Metro Manila’s chaotic transport system

“You never want a serious crisis to go to waste.” I first heard this line during the global financial crisis of 2008. In a media interview, it was stated by then US presidential candidate Barack Obama’s campaign manager Rahm Emanuel, who subsequently became the White House chief of staff and the mayor of Chicago.

Configuring the next normal

Zoom meetings are the rage these days among members of the business community, who are left with no option but to interact virtually during this lockdown season.

Breaking the cycle of poverty

BOAC — It’s the season of Lent and this capital town of Marinduque province is once again in a frenzied preparation for the traditional Moriones Festival on Holy Week.

Must-read business books for 2020

As we move to a new decade, businessmen and professionals are developing their reading lists to propel them to the next level of success. Here are three books on corporate leadership and business wisdom that will serve as executives’ guides for expansion and evolution:

Sustaining growth in the 2020s

As we welcome the start of a new decade, it is heartening to know that the Philippines will remain among the fastest-growing economies in the world, based on a recent report from the UK-based Economist Intelligence Unit (EIU) titled “The Next Decade.”

Winners galore

Kudos to the Filipino athletes who achieved podium finishes in the ongoing Southeast Asian (SEA) Games. At the rate they’re winning medals, it is almost certain that Team Philippines will become the overall champion of the 30th SEA Games just like when we last hosted the biennial event in 2005.

Mimaropa’s regional economy rising

At the turn of the millennium, the Southern Tagalog region was the country’s biggest in terms of land area and population. Designated as Region IV by the national government for administrative purposes, it consisted of six provinces in the southern part of Luzon and five island provinces adjacent to the Visayas.

Riding the next digital wave

The Financial Executives Institute of the Philippines (FINEX) will hold its 51st national conference on Oct. 11 at the Grand Hyatt Manila in Bonifacio Global City with the theme “Riding on the Opportunities of the Next Digital Wave.”

Reducing risk through tech innovation

PAJU CITY, South Korea — The threat of a nuclear conflict in the Korean Peninsula has greatly diminished with the adoption of the Panmunjom Declaration for Peace, Prosperity, and Reunification that includes a commitment to denuclearization.

Stimulating Fil-Am trade and tourism

ANAHEIM, CALIFORNIA — Bacolod City’s award-winning MassKara Dance Troupe has invaded the happiest place on earth — Disneyland Resort — which had just opened its newest themed area known as Star Wars: Galaxy’s Edge. Yesterday, the MassKara dancers performed at the Disney California Adventure theme park here in Anaheim, the most populous city in Orange County just south of Los Angeles.

Making the switch, improving the quality of life

Despite successive increases in excise taxes on tobacco products, the Philippines continues to have one of the highest smoking rates in Asia, according to the World Health Organization (WHO).

Feuding over fortune

MACAO — This special administrative region (SAR) on the Pearl River Delta is now accessible via the Hong Kong-Zhuhai-Macao Bridge (HZMB), which opened to vehicular traffic in October 2018.

Stimulating growth in the regions

MANDAUE CITY — With 10 days to go before the midterm national and local elections, there is growing concern about the power situation on May 13 following the series of rotational brownouts and “red alerts” triggered by recent earthquakes that rocked Zambales, Eastern Samar, and Surigao del Norte as well as the ongoing El Niño weather phenomenon.

Achieving digital determination

When the International Data Corp. (IDC) unveiled its top predictions for the Philippine information and communications technology (ICT) industry in 2019 and beyond, it predicted that at least 30% of organizations across the country would achieve digital determination by 2020.

Curing the 3rd telco’s defects

BEFORE adjourning for a three-month recess, the Senate approved a concurrent House of Representatives resolution that effectively paves the way for a third major telecommunications player to operate in the Philippines.

Racing to reinvent

It’s so easy to get lost in an increasingly digital world we live in nowadays. The average person is bombarded with too much data by too many influencers around us, especially with regard to information communications technology (ICT).

Bullish on Philippine stocks

2019, the Year of the Earth Pig, will be a year of abundance and positive vibes according to Oriental astrology. Its immediate predecessor was 1959, when the Philippine post-war economy was flourishing under then President Carlos P. Garcia, who pursued the “Filipino First” policy. Like 1959, 2019 is also a midterm election year in the country.

Fifty shades of FINEX

1968 has been portrayed in many publications as the most turbulent year in the 20th century that rocked the very foundations of Planet Earth. It was the year when world history seemed to change daily — with the tumultuous 1960s reaching a political and cultural boiling point in dramatic, game-changing fashion.

Achieving unity through hoops

WHAT a glorious ending this week for the University Athletic Association of the Philippines (UAAP) Season 81 men’s basketball tournament that drew record crowds during its last two games at Mall of Asia Arena and Smart Araneta Coliseum.

Tech-propelled growth

SEATTLE — This city is the largest in the state of Washington and the entire Pacific Northwest region of North America. Its metropolitan area encompasses the state’s eight most populous counties, officially defined by the US Census Bureau as the Seattle-Tacoma-Olympia combined statistical area that is home to two-thirds of Washington’s population.

Securing businesses in the digital age

Discussions about disruptive technology and digital transformation have lately been dominating the conversations inside corporate boardrooms and among the C-suites in private companies, spilling over to some government agencies and non-government organizations.

Linking economies for inclusive development

The Philippines is currently hosting the 51st Annual Meeting of the Asian Development Bank (ADB) Board of Governors from May 3 to 6 at...

Tech businesses powering Asia-Pacific growth

London’s venerable Financial Times (FT) recently released its first-ever “FT 1000 High-Growth Companies Asia-Pacific” list -- with 26 Filipino firms making the grade, all...

Creating new value in financial services

SINGAPORE -- A new era has dawned on the financial services industry. With continued acceleration of the Digital Age, the industry needs to find...

Fintech hub in Asia’s Silicon Valley

The emergence of financial technology or “fintech” in modern business jargon dates back to 1993. That was during the time New York-headquartered Citicorp, the...

Toward a sustainable future

The Financial Executives Institute of the Philippines (FINEX) kicked off its 50th anniversary celebration with a Golden Jubilee gala night last Jan. 15 at...

Golden FINEX rising

1968 was the year that changed the world, according to Time magazine. Civil rights leader Martin Luther King, Jr. and US presidential candidate Robert Kennedy were...

Modernizing the financial infrastructure

LAST WEEK the country hosted the 5th Financial Infrastructure Development Network (FIDN) Conference at the Philippine International Convention Center with the theme of “Leveraging Movable...

Enabling change

In 2006, the Financial Executives Institute of the Philippines (FINEX) started the annual tradition of recognizing the country’s most outstanding chief finance officer through...

From trams to trains?

During a visit to the magnificent city of Prague in the Czech Republic, I stumbled upon a startling piece of information that may provide...

Breaking barriers to competitiveness

The Financial Executives Institute of the Philippines (FINEX) will hold its 49th Annual Conference at the Fairmont Hotel in Makati City on Oct. 13. Organized...

Subverting the national interest

DUMAGUETE CITY — Located near the southern tip of Negros Island, this city is a leading educational center in the Visayas. In 2014, it...