SSS, GSIS, PhilHealth ordered to adopt PFRS 4 accounting norms on reserves

Finance Secretary Carlos G. Dominguez, III has ordered the government-run pension funds and health insurance agency to adopt the Philippine Financial Reporting Standards 4 (PFRS 4) accounting standard, particularly with regard to estimating their potential liabilities. The Social Security System, the Government Service Insurance System (GSIS), and Philippine Health Insurance …

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Moody’s affirms China Bank rating with stable outlook

Moody’s Investors Service affirmed its credit rating for China Banking Corp. at Baa2, citing the bank’s stable capital and profitability. The outlook on the rating remained at stable, signifying little change expected in the next 12 to 18 months. “The bank’s capital and profitability have improved significantly. Capital will remain …

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Moody’s downgrades RCBC credit rating

Moody’s Investors Service on Friday lowered its credit rating for Rizal Commercial Banking Corp. (RCBC), citing the lender’s weaker asset quality as reflected in its restructured loans. RCBC’s deposit and senior unsecured ratings were downgraded to Baa3 – the lowest investment-grade rating – from Baa2. “The downgrade is driven by …

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Rappler chief to accept Peace Prize in Norway

PHILSTAR The Philippine Court of Appeals has allowed the founder of news website Rappler to travel to Norway to accept her Nobel Peace Prize. In a decision on Friday, the court’s Special Seventh Division granted Rappler Chief Executive Officer Maria A. Ressa’s plea to allow her to go to Norway …

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FIVE MUST-SEE PLACES IN AUSTRIA

There are barely any places in Austria that aren’t worth visiting, whether for their rich history or magnificent beauty, but several stand out above the rest. Many of the greatest spots to visit are major tourist destinations that need a day to thoroughly explore, such as many of the stately …

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Enjoy the holidays and end the year with a bang with vivo Y76 5G, Rush of Luck promo

vivo ends 2021 with Rush of Luck promo and the launch of the new Y76 5G device. vivo gives the gift of capturing real moments and meaningful connections this holiday 2021 with new Y76 5G The year might almost be over but leading smartphone brand vivo is ending the year …

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Gigacover offers employment benefits to Filipino freelancers

PIXABAY Gigacover, a Singapore-based fintech company that provides gig workers with access to employment benefits, announced Dec. 3 that it is expanding to the Philippines, which has a 1.5 million-strong informal workforce. It offers freelancers incentives associated with regular employment. “Benefits and insurance are the two main areas where Gigacover …

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US steps up fight against Omicron as variant marches across globe

Image via Flickr/US Navy WASHINGTON/BERLIN — President Joseph R. Biden, Jr., on Thursday laid out his strategy to fight the coronavirus as the highly contagious Omicron spread across the globe with winter coming and hours after the first known US case of community transmission of the variant was reported. With …

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PHL tops SEA market for secondhand goods; Zara, BMW are sought-after brands — Carousell

PIXABAY The Philippines is the most receptive market for secondhand goods in Southeast Asia, according to a report released this December by Carousell, an online recommerce platform. Recommerce refers to the selling and buying of previously owned products, both new and used. According to the inaugural Carousell Recommerce Index, 92% …

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Work and play in space? NASA awards $415.6 million for new space hubs

Image via Blue Origin SEATTLE — NASA announced on Thursday it has awarded $415.6 million to billionaire Jeff Bezos’ Blue Origin, stalwart contractor Northrop Grumman Corp. and venture-backed Nanoracks to develop privately-owned and operated commercial space stations. The trio of awards are emblematic of the US space agency’s efforts to …

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