Peso strengthens on progress in US-China talks
THE PESO appreciated further on Friday on the back of market optimism that a phase one deal with China was already approved by the United States.
ING Bank N.V.-Manila to venture into payments, lending services
ING BANK N.V.-Manila will venture into payments and lending in hopes to boost its all-digital banking print in the country.
PhilRatings gives BPI Family Savings’ P35-billion bonds top credit rating
THE THRIFT BANKING arm of Ayala-led Bank of the Philippine Islands (BPI) has been awarded the top credit rating by a local debt watcher for its P35-billion bonds.
Shareholders lash Westpac over laundering scandal
SYDNEY — Westpac Banking Corp. on Thursday became the biggest Australian company to have shareholders vote down its executive pay for a second year, at a marathon annual meeting dominated by investor outrage over a child exploitation payments scandal.
Fed keeps rates on hold, points to ‘favorable’ economic outlook
WASHINGTON — The US Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election.
Second US law firm files London forex class action
LONDON — US law firm Hausfeld has filed a lawsuit in London against major banks over alleged foreign exchange (forex) rigging in a bid to take over a high-profile British class action from compatriot Scott & Scott.
Peso up on Fed, BSP decisions
THE PESO strengthened against the greenback on Thursday after both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) decided to maintain key policy rates.
Term deposit rates drop
YIELDS ON term deposit mostly went lower with lenders awaiting the upcoming holidays and the policy stance of the central bank for its final policy meeting this Thursday.
February rate cut by India’s central bank on a knife’s edge
BENGALURU — A February Reserve Bank of India (RBI) rate cut is on a knife’s edge, with just under half of economists polled expecting easing at that meeting, and is highly likely by the middle of next year, according to a Reuters poll.
PHL banks to weather lower rates, trade war
PHILIPPINE BANKS will fare well despite the falling interest rate environment, which has been the trend in most Asian countries, according to Moody’s Investors Service.
Credit Suisse cuts goals
CREDIT SUISSE Group AG cut its main profitability target for this year and next as trade tensions and negative interest rates cloud the outlook after a three-year restructuring.
BoJ expects sizable impact from Abe’s stimulus package
BANK OF JAPAN (BoJ) officials see a sizable impact from government stimulus announced last week, raising the likelihood that the bank will upgrade its economic forecasts for the first time in a year next month, according to people familiar with the matter.