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IN the
race to establish Philippine banking presence in China,
the Metropolitan Bank and Trust Co. won round one when
it was allowed to set up shop in Shanghai, while Allied
Bank won the consolation prize of a branch in Xiamen.
Round
two went to Allied Bank, which is currently in the
process of merging with the Philippine National Bank.
You see, the bank’s majority owner—Lucio Tan—has already
been given a license to operate a China-based company
engaged in banking. This means Tan can put up branches
elsewhere in China. Meanwhile, the earliest Metrobank’s
majority owner, George S.K. Ty, can get such a local
license is late this year (read: he applied last year
when China liberalized the entry of foreign banks).
Round
three will, of course, go to whoever can quickly put up
a branch network that will not only service Filipinos
based in China but also the mainland’s business
enterprises and individuals.
****
DID you
know 1:
The long-time companion of a deceased tycoon (read: she
was even included in his obituary) was recently gifted a
Rockwell condominium unit by another tycoon.
Yes,
she’s still very lovely but, more importantly, is
loving.
DID you
know 2:
Jaime Panganiban, the recently-elected chairman and
chief executive officer of the Al-Amanah Islamic
Investment Bank of the Philippines, has a slight
problem.
You see,
the previous board is still in denial. As such, old
directors have been collaring anybody they know in
government (read: Al Amanah is majority-owned by the
government through the Development Bank of the
Philippines) to continue paying their monthly
salaries/benefits as well as those of their relatives,
oops, staff.
DID you
know 3:
Under Immigration and Deportation commissioner Marcelino
Libanan, those guys at the international airport no
longer, uhm, pay too much attention to tourists
and businessmen with tattoos. The policy now is to
consider tattoo as an art form.
****
Here’s
an interesting book entitled, Money Matters & the
Married Money. Written by Vasquez Building Systems
Inc. chief operating officer, Lilibeth Vasquez-Legasto,
the book was initially meant as a guidebook for the
author’s three married children and has since evolved
into something bigger.
You see,
money is one of four major causes of marital
disagreements. The other three are religion, in-laws,
and parenting.
Basically, Vasquez-Legasto picked the financial know-how
of 10 women, including her own mother, Pilar Gaddi-Vasquez,
and good friends such as auditor/entrepreneur Tammy
Hernandez-Lipana and painter Araceli Limcaoco-Dans.
Here are
the book’s 10 smart money tips:
§
Before
marriage, discuss your financial values and goals with
your fiancé.
§
Early on
in marriage, live independently from parents.
§
Discuss
your family budget and savings plans.
§
Record
your daily expenses and live within your budget.
§
Avoid
bad debt. Manage your credit card. Be a smart shopper.
§
Know
your income, your assets and your liabilities.
§
Work or
business gives a woman her self-worth.
§
Educate
yourself about money, how to save and how to invest.
§
Teach
your children the value of money. Encourage them to be
entrepreneurs and learn how to generous givers.
§
It is
never too early to plan for retirement and the
unforeseen. |
