Gov’t makes full award of T-bills with offer twice oversubscribed
THE GOVERNMENT made a full award of the Treasury bills (T-bill) it auctioned off on Monday, with the rate of the longest tenor even slipping a tad as investors expect inflation to decelerate.
Thrift banks’ non-performing loans up in Nov.
BAD LOANS held by thrift banks rose faster in November as lenders continued to grant more credit lines to borrowers, latest data showed, while reserves for losses dwindled from a year ago.
Lloyd’s to meet with AIG, Chubb to boost business
NEW YORK — Lloyd’s of London Ltd. is meeting with major US insurers about driving more business through its global insurance market, Chief Executive Officer John Neal said on Wednesday.
Japan signals readiness to act against excessive yen rises
TOKYO — Japan’s top currency diplomat on Monday warned investors against significantly pushing up the yen, signaling that Tokyo was ready to intervene in the currency market if excessive yen gains threatened to hurt the export-reliant economy.
Fed divided on rate cut, wanted to avoid hinting on more easing
WASHINGTON — Federal Reserve policy makers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with US President Donald Trump.
PBB books higher profit on core business’ growth
PHILIPPINE BUSINESS Bank (PBB) posted a 57.1% jump in its net earnings in the first three months of the year, supported by growth in its core businesses.
Gov’t hikes T-bill award to P26B
THE GOVERNMENT upsized the volume of Treasury bills (T-bills) it awarded on Monday as strong demand pulled rates below the two-percent level following the surprise easing move by the central bank last week.
Insurers studying pandemic-related products
INSURERS are looking at introducing products to address the needs of consumers affected by a pandemic like the coronavirus disease 2019 (COVID-19).
Peso inches sideways as investors await BSP decision
THE PESO barely moved against the greenback on Wednesday as investors waited on the sidelines for the policy decision of the Bangko Sentral ng Pilipinas (BSP) and following the latest uptick in oil prices.
Complaints on financial transactions reach 20,000
THE BANGKO SENTRAL ng Pilipinas (BSP) received about 20,000 concerns from financial consumers last year, mostly about fraud and unauthorized transactions, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.
UnionBank’s earnings decline in Q3
UNION BANK of the Philippines (UnionBank) saw its net profit decline in the third quarter, dragged by lower earnings from trading and other miscellaneous...
Goldman sees cryptocurrencies, credit shadowing robust 2018 US economy
FINANCIAL IMBALANCES including those in credit markets and cryptocurrencies will shadow an otherwise robust 2018 US economy, said Goldman Sachs Group, Inc. economist Jan...