Business

What is PFRS 4? Under the directive of the Department of Finance (DOF), the Insurance Commission (IC) is making sure that PhilHealth Insurance Corporation and the Philippine Crop Insurance Corporation (PCIC) are complying with the current Philippine Accounting Standards. The Philippine Financial Reporting Standards 4 (PFRS 4) states that when a policyholder pays premiums to … Read more

The first ice cream shop in Manila was Clarke’s Ice Cream Parlor at No.2 Calle Escolta. The Ice Cream Parlor was established in 1899 by M.A. “Met” Clarke” an American businessman. Clarke’s served sodas, ice creams, pastries, and other sweets, including a soda fountain. The restaurant was a hit amongst the Americans, as well as … Read more

First Domestic Insurance Company in the Philippines The first domestic or Filipino insurance company in Manila and the Philippines is the Insular Life Company, established in 1910. The company’s first offices were located along Calle Echague. In 1934, to celebrate its growing prominence, Insular Life moved its headquarters to a new building in Plaza Moraga … Read more

DOF Philippines Establishment Did you know that the Department of Finance (DOF) predates the Philippine Republic? Founded on April 24, 1897, by the Philippine Revolutionary Government, the Department of Finance (DOF) has undergone various structural and functional overhauls but has nonetheless remained a key department. The Department has stood the test of time, seeing the … Read more

The oldest company in the Philippines The oldest company in Manila, and the Philippines, is the Ayala Corporation, founded in 1834. The company started as the Casa Roxas, which operated a distillery in San Miguel, Manila. The Ayala y Compania, which expanded and consolidated the growing business partnership, was established in 1876. The company helped … Read more