More Filipinos using credit cards for e-payments
CREDIT CARD consumers in the country are becoming more at home with digital transactions, with more of them accessing online services for big services like travel and lodging, according to Citibank NA’s Philippine Branch (Citibank Philippines).
Indonesia’s central bank may cut key rate as virus hits economy — Reuters poll
JAKARTA — A slim majority of analysts polled by Reuters expect Indonesia’s central bank to resume its easing cycle at its policy meeting this week to provide a cushion for the expected economic impact from the coronavirus outbreak.
Intesa Sanpaolo spurs bank M&A with UBI bid
INTESA SANPAOLO SpA launched one of the biggest European banking deals since the financial crisis with an unsolicited 4.9 billion-euro ($5.3-billion) bid for smaller rival Unione di Banche Italiane SpA (UBI).
Singlife Philippines to roll out initial products in April
DIGITAL-ONLY life insurance firm Singlife Philippines is targeting to launch its initial products by April and capture half a million clients in the next five years, after the Insurance Commission (IC) approved its license to operate on Monday.
HSBC to shed assets, slash jobs over three years
HONG KONG/LONDON — HSBC Holdings said on Tuesday it would shed $100 billion in assets, slashing the size of its investment bank and revamping its US and European businesses — in a drastic overhaul that will mean 35,000 jobs cut over three years.
Peso weakens vs dollar
THE PESO weakened against the greenback on Tuesday as investors flocked towards safe-haven assets due to lingering concerns amid the ongoing outbreak of the coronavirus disease 2019 (COVID-19).
Gov’t makes full award of T-bills as investors flock to safe havens
THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as rates declined across-the-board, also opening its tap facility to sell more one-year papers amid strong demand.
BDO Leasing to appeal RS suspension with SEC
BDO LEASING and Finance, Inc. (BDOLF) will appeal the suspension of its registration statement (RS) with the Securities and Exchange Commission (SEC) after this was flagged for being “materially incomplete and inaccurate.”
PBoC cuts rate for loans
CHINA’S CENTRAL BANK provided medium-term funding to commercial lenders and cut the interest rate it charges for the money, a move widely anticipated by analysts to cushion the economy from the virus epidemic.
SGI Philippines reaches P1.3-B net worth requirement
SGI PHILIPPINES General Insurance Co., Inc. reported a P1.35-billion net worth years ahead of the 2022 deadline after its majority shareholder, Shriram General Insurance Co. Ltd., infused P624 million in fresh capital.
HSBC braces for huge overhaul as Quinn battles fires
FROM ITS headquarters near the Thames to its Asian hub by the South China Sea, HSBC Holdings Plc is abuzz.
Lagarde confronts political cost of ECB’s below zero rate policy
“NOBODY TRUSTS YOU,” lawmaker Joerg Meuthen told European Central Bank (ECB) chief Christine Lagarde, switching briefly to English during a tirade in his native German. “You should be aware of that.”