Peso weakens as virus continues to spread
THE PESO weakened versus the dollar on Friday due to market jitters as more coronavirus disease (COVID-19) infections were reported outside China and following the balance of payments (BoP) deficit logged in January.
Metrobank net income up 27%
METROPOLITAN BANK & Trust Co. (Metrobank) saw its net income surge by double digits in 2019 on the back of solid growth in operating revenues, moderate loan growth and margin expansion.
RCBC earnings climb on strong core business
RIZAL COMMERCIAL Banking Corp. (RCBC) logged double-digit net profit growth last year, buoyed by the better performance of its core business, high margins, strong trading gains, as well as higher fee-based income.
China cuts benchmark rate as virus shock affects economy
SHANGHAI/TOKYO — China cut the benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses and support an economy jolted by a severe coronavirus outbreak.
US Fed officials cautiously optimistic on economy despite new risks — minutes
WASHINGTON — Federal Reserve policy makers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak.
This revamp will be different, says HSBC boss
HONG KONG/LONDON — Noel Quinn, the interim chief executive of Hongkong & Shanghai Banking Corp. (HSBC), says this time things are going to be different.
Peso weakens slightly as coronavirus cases increase
THE PESO slightly weakened on Thursday on risk-off sentiment due to new cases of the coronavirus disease 2019 (COVID-19) outside China and with signals that the US Federal Reserve might not tweak its rates anytime soon.
Term deposit yields drop despite decline in bids
YIELDS ON the central bank’s term deposit facility (TDF) continued to inch down despite lower bids on Wednesday, with the market still packed with liquidity and investors factoring in the impact of the coronavirus disease 2019 (COVID-19) outbreak.
Pru Life UK launches health management app
PRU LIFE UK launched its artificial intelligence-powered digital app in the Philippines which offers health management to both policyholders and non-policy holders.
Singapore dollar vulnerable to 2017 low on surprise easing risk
SINGAPORE’S CURRENCY may tumble to the lowest level since 2017 if the central bank responds as strongly to the spread of the coronavirus as it did to the SARS epidemic two decades ago.
Nomura finally making money from Asia investment banking business
NOMURA HOLDINGS Inc.’s investment banking business in Asia is set to return to profit this fiscal year after more than a decade of losses since its Lehman Brothers Holdings, Inc. acquisition, according to its division chief.
JPMorgan reshuffling senior management at top of investment bank, appointing ‘rainmakers’ — sources
LONDON — JPMorgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters.