AUB posts double-digit income growth
ASIA UNITED Bank Corp. (AUB) booked a double-digit growth in net income during the first semester, it said yesterday.
Former Fed chairs say US central bank must be free of ‘political pressures’
WASHINGTON — The four living former chairs of the Federal Reserve on Monday called for the US central bank to remain free to work independently and without fear of political reprisals in a rare joint public statement.
Peso sinks further on yuan move
THE PESO sank on Tuesday as tensions between the world’s two largest economies escalated further after the former tagged the latter as a “currency manipulator.”
Gov’t fully awards T-bills as rates drop on Fed cut
THE GOVERNMENT made a full award of the Treasury bills (T-bill) it offered yesterday, with rates dropping across all tenors on the back of strong liquidity and following the US Federal Reserve’s rate cut, as well as bets of monetary policy easing by the local central bank.
HSBC axes CEO Flint after only 18 months to speed up growth
HONG KONG/LONDON — HSBC ousted Chief Executive Officer John Flint after just 18 months in that role, in a surprise move that the lender’s chairman said was necessary to accelerate progress of its strategic priorities.
China lets yuan slump past seven per dollar as trade war escalates
SHANGHAI — China on Monday let the yuan tumble beyond the key 7-per-dollar level for the first time in more than a decade, in a sign Beijing might be willing to tolerate further currency weakness in the face of an escalating trade row with the United States.
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.
RBA leaves door open to rate cuts to shield currency
AUSTRALIA’S central bank chief Philip Lowe is leaving open the door to further interest-rate cuts in order to prevent a wave of global easing from neutralizing his back-to-back reductions and boosting the currency.
Peso weakens vs dollar
THE PESO edged lower on Monday after China’s central bank devalued its own currency in retaliation against US’ planned additional tit-for-tat tariffs on China this September.
T-bill rates to drop on Fed move
RATES OF THE Treasury bills (T-bill) on offer today will likely end lower following strong demand for short term papers, the US Federal Reserve’s rate cut and renewed US-China trade tensions.
Yields on gov’t debt down on BSP bets
YIELDS ON government securities (GS) traded on the secondary market fell across the board on heightened expectations that the Bangko Sentral ng Pilipinas’ (BSP) will cut rates following the US Federal Reserve’s move to ease policy.
Peso likely to weaken on US-China trade tensions
THE PESO will likely weaken against the dollar this week following escalating trade tensions between China and the United States.