finance - updates

Rappler's latest stories on finance

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'A real patriot': Colleagues, friends honor ex-DOF chief Ernest Leung

Nov 17, 2019 - 12:51 PM

'Tough as nails, straight as an arrow, and a real patriot. One of a kind,' says former interior secretary Rafael Alunan III of former finance secretary Ernest Leung

FORMER FINANCE CHIEF. Former finance chief Ernest Leung. Screenshot from Philippine Economic Society Facebook page

Adulting 101: What to do with your 13th month pay

Nov 15, 2019 - 12:49 PM

Part of adulting is learning how to spend your Christmas bonus wisely

More than 500,000 Filipinos save money to celebrate PH’s first ever GCash World Savings Day

Nov 11, 2019 - 9:31 PM

An astounding feat made possible by GCash app's Save Money feature, powered by CIMB Bank Philippines

DOF not too keen on taxing salty products

Nov 08, 2019 - 5:20 PM

'Meron diyang food labeling types of intervention.... So nandoon palang ‘yung usapan, wala pang specific proposal para dito sa panukalang ito,' says Finance Assistant Secretary Tony Lambino

STUDYING. Finance Asec Tony Lambino says the government is still studying the proposed 'asin' tax. Photo by Angie de Silva/Rappler

Sandiganbayan convicts 3 ex-DOF officials over tax credit fraud

Nov 03, 2019 - 7:35 PM

Former DOF officials Uldarico Andutan Jr, Raul de Vera, and Rosanna Diala are sentenced to 6 years in jail over the 'fraudulent approval' of a P6-million tax credit certificate for Jam Transit

GRAFT CHARGES. Three former Department of Finance officials are sentenced to 6 years in prison over the fraudulent approval of a tax credit certificate. Photo by Darren Langit/Rappler

WATCH: GCash World Savings Day celebration

Oct 31, 2019 - 8:32 PM

Watch our live coverage of PH’s first ever celebration of World Savings Day on October 31

How to be financially independent and prepare for retirement the right way

Oct 28, 2019 - 5:48 PM

Research has shown that Filipinos lack the proper preparation for their retirement years

DOF backs more taxes for online gambling firms

Oct 22, 2019 - 6:57 PM

Finance Secretary Carlos Dominguez supports the plan of Albay Representative Joey Salceda to slap more taxes on Philippine Offshore Gaming Operators and their service providers

GCash’s #LetsSaveTogether campaign urges Filipinos to kickstart their saving habit

Oct 18, 2019 - 4:14 PM

The campaign leads up to the first World Savings Day celebration in the PH on Oct 31

#LETSSAVETOGETHER. (L-R) GCash President and CEO Anthony Thomas, AVP for Financial Services Kim Seng, and Head of Savings Jerome Avan Lim formally launch the #LetsSaveTogether campaign. All photos by Lisa David

INFOGRAPHIC: Ways to raise the funds you need to grow your business

Oct 17, 2019 - 10:59 AM

Lacking the funds to finally expand your business? Here’s what you can do.

TUCP fears job losses under Citira bill

Oct 13, 2019 - 3:50 PM

The Trade Union Congress of the Philippines urges government agencies to put in place a 'genuine transition program' for displaced workers before Citira's implementation – not after

JOB LOSS? Citing estimates by business groups, labor group Trade Union Congress of the Philippines says some 700,000 workers may lose their jobs with the passage of the Citira bill. File photos by AFP

Finding it hard to save despite a regular source of income? You’re not alone

Oct 09, 2019 - 7:24 PM

Posts using the hashtag #PlsSaveMe by GCash are giving hope to Filipinos online

QUIZ: How financially-savvy are you?

Oct 02, 2019 - 3:07 PM

Do you think you’ve got a good handle on your finances? Test your financial know-how through this short quiz.

ROUNDTABLE: How partnerships enrich lives

Sep 30, 2019 - 4:02 PM

No one makes it through life alone – having a partner can make life more fulfilling! Watch our roundtable discussion on September 30, 4 pm onwards.

After rejecting foreign aid over drug war, PH seeks new funders

Sep 30, 2019 - 1:25 PM

The Department of Finance is looking for funding from new partners – ones that did not support the resolution adopted by the United Nations Human Rights Council

Finovation 2019: for stronger collaboration and greater credit access through upgraded fintech

Sep 25, 2019 - 5:02 PM

With the theme "Real Problems, Real Solutions," the summit was held on September 25 at The Peninsula Manila

Philippines 'can earn P300B yearly' if gaming industry privatized

Sep 25, 2019 - 3:55 PM

Finance Secretary Carlos Dominguez III says P300 billion in annual revenues can be achieved 'with no effort' should the government privatize Pagcor and PCSO gaming operations

MORE REVENUES. Finance Secretary Sonny Dominguez says that the government would earn more with privatizing the gaming sector. Photo by Angie de Silva

INFOGRAPHIC: How to avoid credit card rejection and get #AcceptED

Sep 17, 2019 - 3:01 PM

Education is the first step. Here are the common reasons why applications are rejected and what you must do to get #AcceptED.

Dominguez orders BIR to shut down tax-dodging POGOs

Sep 15, 2019 - 6:05 PM

'Those who don't pay or respond to your assessments, clamp them down,' says Finance Secretary Carlos Dominguez III

'Noisy naysayers' vs Citira bill proven wrong by numbers, says DOF

Sep 11, 2019 - 3:10 PM

Finance Undersecretary Karl Chua says the surge in investment pledges in the 1st half of 2019 refutes claims of critics of the proposed Corporate Income Tax and Incentive Rationalization Act

Finance Undersecretary Karl Kendrick Chua says naysayers of the Citira bill are proven wrong by numbers. Photo by Angie de Silva/Rappler

Basagan ng Trip with Leloy Claudio: Why finance experts should challenge mutual funds in PH

Aug 30, 2019 - 6:26 PM

Have you invested in mutual funds in the Philippines? This episode explains how and why you are being shortchanged.

June 2019 Local Treasury test results released

Aug 14, 2019 - 10:02 PM

PRESS RELEASE: A total of 475 individuals passed the Basic Competency on Local Treasury Examination given by the Civil Service Commission last June 23

Why some of your colleagues and boss are paid more than you

Aug 10, 2019 - 8:37 PM

Traditional salary models rely on the so-called 'tournament theory,' but new research suggests that it may be unfair and lead to unhealthy competition

‘With education comes empowerment’: We asked experts how to avoid getting #RejectED

Aug 06, 2019 - 4:16 PM

We talked to finance experts about financial inclusion and the credit landscape in the PH

Why you need a life partner – and not necessarily the romantic kind

Aug 06, 2019 - 2:40 PM

We all value independence. But there are some things we can’t do alone.

ROUNDTABLE: No application, no rejection...no problem?

Jul 30, 2019 - 11:07 AM

Join us for a roundtable about the Philippines' credit landscape on July 30, 11 am

Getting #rejectED sucks, here’s what you need to know about the credit process

Jul 23, 2019 - 5:35 PM

Based on our survey, instead of just plain rejection, many don’t have credit cards or loans because they don’t bother to apply

Philippines, ADB sign $1.3-B loan deal for Malolos-Clark Railway

Jul 11, 2019 - 5:25 PM

The Malolos-Clark Railway is seen to cut travel time from Manila to the Clark International Airport to less than an hour

RTVM screenshots

Recto: All Chinese workers in PH must pay taxes

Jul 05, 2019 - 1:09 PM

'That's the right approach. Before you badger Congress to levy new taxes or raise rates, kindly plug the leaks first,' says Senate President Pro Tempore Ralph Recto

OVERCAPACITY. Senate President Pro-Tempore Ralph Recto says the Department of Transportation should hasten the rollout of airport projects. Photo by Angie de Silva/Rappler

17th Congress filed too many bills gov't can't afford

Jun 27, 2019 - 4:05 PM

Finance Secretary Carlos Dominguez III says the 17th Congress filed over a hundred bills that were simply financially unsustainable. His solution: a weekly meeting with lawmakers.

Your guide to starting your financial journey, from insurance to investment

Jun 21, 2019 - 1:09 PM

Learn how to achieve financial independence, whatever life stage you're in

Philippines, Japan sign $202-million loan deal for Mindanao roads

Jun 19, 2019 - 10:05 AM

Among the roads to be reconstructed and improved are those damaged in war-torn Marawi City, where delays have plagued the rehabilitation

SIGNED. Philippine Finance Secretary Carlos Dominguez III and Japan International Cooperation Agency senior vice president Yasushi Tanaka after signing the $202.04-million loan deal in Mindanao. Photo from Department of Finance

How much did Senate bets spend, receive in 2019 election campaign?

Jun 14, 2019 - 8:54 PM

(UPDATED) Mar Roxas and Bong Go are the biggest spenders and have received the highest amounts of contributions in 2019, based on Statements of Contributions and Expenditures available so far

More Filipino middle class, millennials investing in stock market

May 30, 2019 - 4:15 PM

'Investors nowadays are younger and a significant number of them are women. It also shows that it is not necessary to have a big salary to be able to invest,' says PSE president and CEO Ramon Monzon

Lack of tenure, proper gear take toll on Mindoro's tamaraw rangers

May 01, 2019 - 8:48 PM

(UPDATED) These rangers have devoted their lives to protecting the tamaraws despite lack of tenure, lack of proper tools and gear, and the dangers that come with the job

PROTECTION. Tamaraws are not only endemic in the Philippines but also critically endangered. Photo from D'Aboville Foundation

How much do you need to become senator?

May 01, 2019 - 8:19 PM

On average, senatorial candidates each spend around P107 million for their campaigns

Crowdfunding can level candidates' campaign spending – election lawyer

Apr 14, 2019 - 9:50 PM

But election lawyer Emil Marañon III says crowdfunding initiatives aren't easily doable under the Philippines' election laws

Ex-DOF officials face up to 70 years in jail over tax credit fraud

Apr 14, 2019 - 5:15 PM

The Sandiganbayan finds former Department of Finance officials guilty of graft for issuing fraudulent tax credit certificates in 1997 and 1998

GRADED. The DOF ranks analysts according to how their projections fared with actual figures. Logo from DOF website

[ANALYSIS] We never defaulted on our loans? That’s historical revisionism

Apr 11, 2019 - 6:17 PM

By saying the country 'never, never defaulted on its loans,' the DOF is being naïve at best and disingenuous at worst

Fearing default on China loans? You have 'no faith' in PH – Dominguez

Apr 02, 2019 - 4:05 PM

'The Philippines has no history of defaulting on its loans. So why are people saying now that we will default? They have no faith in the Philippines?' says Finance Secretary Carlos Dominguez III

Loan default? DOF says Reed Bank gas can be sold to raise funds

Mar 27, 2019 - 9:10 PM

Finance Undersecretary Bayani Agabin says that in the 'unlikely' event of a loan default, China cannot claim Reed Bank. Instead, the Philippines can sell gas and use the cash to pay Beijing.

Made in China: Loan terms with waivers, shrouded in secrecy

Mar 27, 2019 - 7:35 PM

Rappler reviews loan documents for the Philippines' infrastructure projects and finds that China is demanding more than others and wants deals kept opaque

Reed Bank not collateral to China loan? Carpio rebuts Duterte gov't

Mar 27, 2019 - 10:20 AM

Senior Associate Justice Antonio Carpio counters the claims of government officials who sought to downplay his warning against the repercussions of a government loan from China

LEGAL VIEWS. Presidential Spokesperson Salvador Panelo (left) and Senior Associate Justice Antonio Carpio have clashing views on a provision in the Chico River project loan agreement. Carpio photo from Senate PRIB

What are patrimonial assets? Lambino rejects China debt trap fears

Mar 26, 2019 - 1:15 PM

Finance Assistant Secretary Antonio Lambino implies that the Philippines would not lose the gas-rich Reed Bank, as it is not considered a patrimonial asset

In defense of the credit card

Mar 25, 2019 - 11:03 AM

Credit cards aren’t as bad as you think. Three young professionals tell us why

Finance department zeroes in on foreign online gambling workers

Mar 04, 2019 - 6:15 PM

Finance Secretary Carlos Dominguez III says it is important to find out where foreign online gambling workers are located, given the 'national security implications' and their large presence here

Top poll ad spender? Alejano says he spent less than '3%' of PCIJ estimate

Feb 16, 2019 - 5:36 PM

'I cannot imagine myself having that amount,' says Magdalo Representative Gary Alejano, who has been named by the PCIJ as the top 10 ad spender so far for the 2019 polls

TOP SPENDER? Magdalo Representative Gary Alejano at the Philippine Military Academy alumni homecoming 2019 in Baguio City. Photo by Jeff Digma/Rappler

DOF ranks accuracy of analysts' GDP forecasts

Feb 15, 2019 - 6:11 PM

(UPDATED) After ranking economists and analysts according to the accuracy of their inflation forecasts, the DOF looks into their GDP projections

Political ads of top spenders worth more than their declared wealth

Feb 13, 2019 - 7:17 PM

Former special assistant to the President Bong Go spends a whopping P422 million for his senatorial bid. The mystery? His net worth as of 2017 is only P12.85 million.

DOF urges lawmakers to speed up alcohol excise tax hike

Feb 06, 2019 - 7:55 PM

While both tobacco and alcohol saw excise tax hikes back in 2012, the Department of Finance says alcohol lags behind in revenue contribution

Senator Sonny Angara, chair of the Committee on Ways & means, together with Senator Manny Pacquiao, listen to resource persons during the public hearing on the proposed measure increasing the excise tax rates on alcohol products. Photo by Cesar Tomambo/PRIB  Senator Sonny Angara, chair of the Committee on Ways & means, together with Senator Manny Pacquiao, listen to resource persons during the public hearing on the proposed measure increasing the excise tax rates on alcohol products. Photo by Cesar Tomambo/PRIB