President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

PRESIDENT’S REPORT
June 2017 Issue

The Special Joint Testimonial Luncheon in honor of Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. on May 24 was a huge success. FINEX, as the lead convenor, together with AMCHAM, CIBI Foundation, ECCP, MAP, MBC and PCCI, honored and celebrated Gov. Tetangco’s 12 years of successful leadership that leads to our country’s monetary stability and economic growth.

***


Read more

2017 Year-Round Corporate Sponsors

PARTNERS :

DIAMOND :

GOLD :

Affiliations
Ads
Transpacific partnership
Print PDF
J. Albert GamboaBy J. Albert Gamboa

BUSINESS WORLD(FINEX Folio)
July 7, 2017

Transpacific partnership

FINEX Folio is a rotating column of members of the Financial Executives Institute of the Philippines appearing every Friday in BusinessWorld, opinion section.

LONG BEACH, CALIFORNIA – An economic alliance of 12 countries on both sides of the Pacific Ocean may have been scuttled by the US government's withdrawal following the change of administration early this year. But another transpacific partnership is about to blossom.

The local government units (LGUs) of Bacolod City in Negros Occidental and this port city on America's West Coast are re-launching their sister city relationship in simple ceremonies at the One World Trade Center here over the weekend.

Bacolod's City Administrator John Orola, together with Councilors Em Legaspi-Ang and Caesar Distrito, are in town to meet with their Long Beach counterparts led by Tyler Curley, the Legislative Deputy of Mayor Robert Garcia, and Dr. Mary Barton, Chairperson of the Sister Cities of Long Beach, Inc.

Ms. Legaspi-Ang, who also chairs the Bacolod Tourism Committee, will present the city's 10-year economic development plan, while Mr. Orola is formally inviting the officials of Long Beach to the world-famous Masskara Festival in October, on behalf of Mayor Evelio Leonardia.

Originally established in 1994, these two progressive LGUs' bilateral ties became dormant for almost two decades. Upon the initiatives of Joe Gamboa, a US citizen based in California, and Joey Montalvo, who heads a Negros-based advocacy group, the relationship has been revived through the Long Beach-Bacolod Association, Inc. (LBBAI).

Last April, the Bacolod City Council passed a resolution approving the re-activation of sister city relations with Long Beach, whose own legislative council endorsed the long-awaited revival through a similar process shortly thereafter.

Synergies abound in this newfound friendship between the Philippines' sugar capital and the Pacific gateway to America. There is a large Filipino-American community in Long Beach and the Greater Los Angeles area, with many coming from the four Visayan regions including a sizeable number from Bacolod and the Negros Island Region.

Long Beach hosts the biggest seaport along the US West Coast, while one of the busiest aviation hubs in central Philippines is the Bacolod-Silay International Airport located within the Metro Bacolod area.

Both cities are recognized as educational centers in their respective regions. The California State University at Long Beach is eager to have student exchange programs with the University of Negros Occidental-Recoletos and the University of St. La Salle-Bacolod.

Dr. Barton emphasized the cross-cultural benefits to be derived from having bilateral relations among LGUs from different continents. She said each city, county, or state is allowed to have a maximum of 10 foreign counterparts under the auspices of Sister Cities International (SCI) headquartered in Washington, DC.

US President Dwight Eisenhower created SCI in 1956 during the White House conference on citizen diplomacy. This non-partisan, non-profit network serves as the national membership organization for 545 American cities, counties, and states with 2,121 partnerships in 145 countries on six continents.

SCI's 61st annual conference and leadership summit will be held on July 13-15 at the DoubleTree Hilton Hotel Virginia Beach in the state of Virginia. Its theme for 2017 is "Global Communities for World Peace" to honor Mr. Eisenhower's original vision of fostering global peace through people-to-people relations.

A trade and investment delegation from the Fil-Am community in Southern California will attend this year's Masskara Festival, which was founded by the late Bacolod City Mayor Jose Montalvo, Jr. in 1980.

Plans are also afoot for the LBBAI's staging of the first-ever "Masskara sa Long Beach" event in April 2018, with visiting delegates from the private and public sectors of Bacolod in attendance.

In celebration of the 119th Philippine Independence Day last June 12 and the 241st American Independence Day on the Fourth of July, here's to a fruitful and productive relationship between the cities of Bacolod and Long Beach!

FEATURED ARTICLES
This Market (still) has Legs
Mr. Ronald S. GosecoBy Ronald S. Goseco

MANILA TIMES (FINEX Files)
July 21, 2017

This Market (still) has Legs

I recently attended the 2017 mid – year outlook of Citi. Their outlook for the reminder of the year is still cautiously optimistic, with the global recovery appearing to be on track despite the rising Chinese economy concerns. As of May, global equities have rallied 10.5 % with Emerging Market equities up 17% on a year to date basis. Bond markets have also posted positive returns of around 4% surprising a lot of investors.

Read more...
A crisis cycle
J. Albert GamboaBy J. Albert Gamboa

BUSINESS WORLD(FINEX Folio)
July 21, 2017

A crisis cycle

Members of the Financial Executives Institute of the Philippines (FINEX) had been excitedly anticipating the general membership meeting last July 19, as the confirmed guest speaker was Defense Secretary Delfin N. Lorenzana.

Read more...
Fringe benefits and the power of content
Ms. Wilma Inventor MirandaMs. Wilma Inventor Miranda

MANILA BULLETIN (Business Option)
July 20, 2017

Fringe benefits and the power of content

When Trump won the elections, I was in the United States last November 2016. We went to a restaurant for dinner after the election results came out and we were discussing how in the world Trump won? There were Filipinos though, who voted for Trump and I knew later there were many of them who voted for him including some Filipinos whom I met on the plane back home.

Read more...
Now and then, a Contrast
By Dr. Conchita L. ManabatBy Dr. Conchita L. Manabat

BUSINESS MIRROR (FINEX Free Enterprise)
July 19, 2017

Now and then, a contrast

When virtue is lost, benevolence appears; when benevolence is lost, light conduct appears; when right conduct is lost, expedience appears. Expediency is the mere shadow of right and truth; it is the beginning of disorder. —Lao Tzu

Read more...
THE RISING THREAT OF CYBER-CRIMINALITY
Zoilo By: Zoilo "Bingo" P. Dejaresco III

MANILA BULLETIN (Business Option)
July 18, 2017

THE RISING THREAT OF CYBER-CRIMINALITY

Even newly-installed Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. has pointed at cyber-criminality as one of the major concerns of his new administration. The US$81-M hacking of the Bangladesh sovereign account and the money laundering that ensued here is still -fresh in every one's mind. The recent glitches in the Bank of the Philippine Islands system and the Banco de Oro ATM portfolio, although monetarily harmless to clients are clear signs the banking scene has been altered by technology,.

Read more...
‘1 with the 99’
Flor G. TarrielaBy Flor G. Tarriela

MANILA BULLETIN (Business Option)
July 13, 2017

‘1 with the 99’

“1 with the 99”. What does it mean? asked former finance undersecretary Romy Bernardo.  So, with PNB Vice Chair Rico Alfiler and Romy, we attended the Department of Finance’s (DOF) “1 with the 99” forum last week. The forum aims to inform the public about the Tax Reform for Acceleration and Inclusion Act (TRAIN).

Read more...
Partners