With its new agency model, Insular Life (InLife) expects to attract more young Filipinos to join its sales force and double the current 4,000-strong agents by year-end. In a press briefing last week, InLife president and chief executive Raoul Antonio Littaua said they target to hit 8,000 agents by growing organically instead of poaching, which…
Despite an influx of rice imports due to liberalized trade, the Department of Finance (DOF) on Thursday said local farmers’ yields have improved thanks to financing for productivity enhancement programs. “The average yield of palay farmers during the dry season has increased from 3.65 tons per hectare to 4.22 tons per hectare as a result…
MANILA, Philippines—The pre-need industry’s net income rose 36.7 percent to P2.1 billion in 2021, as both sales value and volume increased. The latest Insurance Commission (IC) data showed that the total bottom line of the country’s 12 pre-need players last year climbed by over a third from P1.5 billion in 2020. Their combined premium income…
Filipinos living or working abroad never faltered in their commitment to send more money back home despite the prolonged COVID-19 pandemic, jacking up cash remittances to the Philippines to a fresh high of $31.4 billion in 2021. In a statement on Tuesday, the Bangko Sentral ng Pilipinas (BSP) said cash remittances coursed through banks rose…
Investment banking giant Goldman Sachs expects the Philippine economy to grow the fastest in Asean (Association of Southeast Asian Nations)-5 next year, despite some uncertainty to be wrought by the “wide open” 2022 presidential elections. In a Nov. 18 report, Goldman Sachs Economics Research projected the Philippines’ , within the government’s 7 to 9 percent…
Factory output growth moderated to a still strong on the back of expansion posted in 13 industries, the Philippine Statistics Authority (PSA) reported Tuesday. The PSA’s monthly integrated survey of selected industries (Missi) report for September showed the increase in volume of production index (VoPI) — a proxy for factory output — slowed compared to…
External trade jumped by a fourth to $16.5 billion in August not only due to base effects but also to recovering shipments as the domestic and global economies rebounded from their pandemic-induced slump. The Philippine Statistics Authority’s (PSA) latest preliminary data on Tuesday showed a in total trade last August from $13.2 billion a year…
The finished goods churned out by the country’s factories soared 539.7 percent year-on-year in August due to the base effects from lower output amid last year’s stringent lockdowns. The Philippine Statistics Authority’s (PSA) monthly integrated survey of selected industries (Missi) report for August released Thursday showed a dramatic reversal of the 82.2-percent drop in the…
The manufacturing sector resumed expansion in September as quarantine curbs were gradually lifted, but global supply constraints and expensive inputs pose a threat to sustained recovery. The September purchasing managers’ index for the Philippines released by London-based global information provider IHS Markit Ltd. on Friday showed , reversing the contraction in August when Metro Manila…
The state-run pension fund Social Security System (SSS) may finally push through with its planned offshore investments next year once it’s no longer pressured to disburse more benefits to members and pensioners badly hit by the COVID-19 pandemic. “Right now, we are trying to study the environment. Definitely, we’re looking at global bonds, global equities,…