Japan’s yen jumps against the dollar on suspected intervention
The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to try to underpin a relentless tumble...
Redeveloping the Lion City’s tourism hub
By J. Albert Gamboa
SENTOSA ISLAND — Located off the southern coast of Singapore, this popular tourist destination opened in 1975 and is currently undergoing redevelopment along with nearby Pulau Brani Island in a mega-project whose long-term transformation blueprint was unveiled by national planners in 2019.
Peso likely to rise further
THE PESO could continue to strengthen against the dollar this week ahead of another speech by the US Federal Reserve chief and the release...
Peso weakens as US Senate sets vote on stimulus
THE PESO weakened further on Wednesday as the market waits for the House’s approval of the 2021 national budget and after lawmakers in the United States rejected a proposal for a fresh stimulus fund amid the coronavirus pandemic.
UBS agrees to pay $388M to regulators over Credit Suisse’s Archegos failings
ZURICH — UBS has been ordered to pay $388 million to British and US regulators over Credit Suisse’s dealings with private investment firm Archegos...
Powell nods to stronger US economy, affirms gradual rate hike path
WASHINGTON -- Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the US central bank, vowed on Tuesday to prevent...
Peso weakens on further Delta variant cases
The peso weakened against the dollar Friday after the government confirmed the detection in the Philippines of more cases of the highly-infectious Delta variant of COVID-19.
The peso ended at P50.235 to the dollar, against its P50.22 close Thursday, according to the...
PHL banks to see credit losses due to coronavirus pandemic
PHILIPPINE BANKS may see loan losses of up to P100 billion in 2020 due to the financial impact of the coronavirus disease 2019 (COVID-19), according to S&P Global Ratings.
Italy’s Treasury under siege over Monte dei Paschi deal
ROME — Italy’s Treasury is under fire from ruling parties seeking guarantees for Monte dei Paschi’s (MPS) employees and Siena’s local economy, after the ministry entered exclusive talks to sell the ailing Tuscan bank to UniCredit.
Bank of Japan’s Kuroda says deepening negative rates is among options — Nikkei
TOKYO -- Bank of Japan (BoJ) Governor Haruhiko Kuroda said cutting interest rates further into negative territory is among the bank’s policy options, according to an interview with the Nikkei newspaper published on Friday.
Digital banks to boost inclusion
MORE FILIPINOS are expected to put their savings in digital-only banks that offer higher interest rates than traditional banks as the coronavirus pandemic has amplified the need for easily accessible emergency funds, ING Bank N.V. Manila said.
BoE can fight new slowdown — Carney
BOSTON — The Bank of England (BoE) would probably take measures to stimulate bank lending in the event of a fresh downturn in the economy, and government fiscal policy could also play a role, BoE Governor Mark Carney said on Wednesday.