I am a physician, currently practicing as an Anesthesiologist. My other passions are finance and investments. As of 2013, I have passed all three levels of the Chartered Financial Analyst (CFA) exams, all in my first attempts. I received my Masters of Business Administration degree in 2008. I received my certification as a securities specialist from the Philippine Stock Exchange in 2009.
Outsourcing is big business. The industry is currently estimated to be worth hundreds of billions of dollars. Companies in countries with high costs will outsource some of their processes in countries where labor and materials are cheaper yet dependable.
But are there limits to what can or cannot be outsourced to another country? Can goods/ services of national and cultural importance be outsourced to foreign entities?
Those questions have been part of a hot topic recently in the Philippines. During the national costume presentation at the Miss Universe pageant in Doral Forida, Miss Phlippines, Mary Jean Lastimosa, wore a national costume that drew mostly negative comments on the internet.
It is no secret that Russia has been on an economic slump lately due to economic sanctions brought about by the United States, Europe and their allies. The drop in crude oil prices makes things even worse.
Russia’s GDP grew by only 0.7% in the third quarter of 2014, and the World Bank projects that the country will go into recession in 2015. The Russian ruble (RUB) already lost about half its value. To counter the ruble slide, the Russian Central Bank raised interest rates to around 17%. Inflation is at around 9%.
Since this is an investment related blog, it’s only fitting that I see opportunities where there is one.
The 63rd Miss Universe will be held tonight in Florida (tomorrow morning Manila time), where Miss Universe 2014 will be crowned. It is already 2015, so it seems that there has been a slight delay.
A lot of people do not care about pageants anymore, but many people still do – Filipinos and South Americans in particular. To reach out to that audience, I will be posting Miss Universe related investment information.
Learn more about the actual pageant here. If you are in the area, see if you can still buy tickets here.
Many companies, willingly or unwillingly, will have to deal with corrupt entities. The corrupt entity may be from the government or a private firm. To facilitate a deal, get favorable contracts, or secure the necessary permits, kickbacks will have to be given at some point. Though most jurisdictions outlaw the giving of kickbacks, this practice continues to be a way of life for many businesses. Obviously, the cost of the kickbacks is less than the benefit from the deal, or else, there is no point in handing them out. For these companies that give kickbacks, the money is treated as cost of doing business.
To deter this unsavory practice, tax agencies obviously don’t allow kickbacks to be expensed for tax purposes. The practice of giving kickbacks is also a criminal offense. However, for the financially creative, they’ll find ways to go around the restrictions.
A corruption scandal is currently making headlines. One party (OP) is alleging impropriety in a land deal that involved a high ranking official (HO). According to OP, this was how the kickbacks to HO were disbursed. Continue reading A Creative Way to Expense Kickbacks?
The title of this post was derived from the statement of Alphaland, a Filipino real estate development company, in response to its alleged involvement in corruption accusations that are currently making headlines in the Philippines.
The Philippine Stock Exchange (PSE) ordered the involuntary delisting of Alphaland in late 2014, citing violation of disclosure rules. Trading of its stocks has been suspended since January 2014.
Switzerland is the home of many watch brands, and of most of the luxury ones.
On January 15 2015, the Swiss National Bank (SNB), decided to remove the currency cap on the Swiss Franc (CHF) which kept the CHF artificially low against the Euro (EUR). Investors buy CHF because they consider it as safe haven currency. Because the SNB suddenly will cease the practice of “printing” CHF to buy Euros to support the cap, the CHF appreciated significantly. Before the move by the SNB, CHF:EUR was hovering around 0.80. On January 15, CHF:EUR went past 1.17. As of the writing of this post (January 21 Manila time), CHF:EUR is trading at around 1.0. See CHF:EUR quotes here