Ex-RBI chief flags risks for overseas borrowing
INDIA’S PLAN to issue foreign currency debt has no real benefit and is fraught with risks, according to former Reserve Bank of India (RBI) governor Raghuram Rajan.
Gov’t debt yields end mixed
YIELDS ON government securities (GS) ended mixed last week on dovish comments from Federal Reserve Chairman Jerome Powell and in reaction to easing inflation at home.
Peso continues rally vs dollar
THE peso continued to rally against the dollar on Friday amid lingering expectations of a rate cut by the U.S. Federal Reserve.
Caritas to appeal IC stop order
CARITAS Health Shield said it would appeal an Insurance Commission (IC) order that stopped it from selling new products and adding clients for alleged fraud.
PSBank raises P6.3 billion from offer of 2-year bonds
PHILIPPINE SAVINGS Bank (PSBank) raised P6.3 billion in fresh funds via two-year fixed-rate bonds as it saw robust demand from investors.
Insurance Commission chief tapped to chair Asian Re
INSURANCE COMMISSIONER Dennis B. Funa was elected as chairman of Asian Reinsurance Corp. (Asian Re), the Insurance Commission (IC) said.
Peso up on Powell speech
THE PESO recovered sharply against the dollar on Thursday on the back of dovish remarks from US Federal Reserve chair Jerome Powell.
Demand for term deposits up as BSP doubles offer volume
BANKS’ DEMAND for term deposits rose on Wednesday as the Bangko Sentral ng Pilipinas (BSP) doubled the amount on offer.
IC issues cease and desist order vs Caritas Health
THE INSURANCE Commission (IC) issued a cease and desist order against health maintenance organization (HMO) Caritas Health Shield, Inc. due to alleged fraudulent card swiping and misrepresentation of sales agents.
China Bank sees loan growth easing slightly
CHINA BANKING Corp. (China Bank) expects its loan growth to ease slightly this year due to base effects following inflation’s surge in 2018.
Rediscount loans climb
BANKS increased their availments from the central bank’s rediscount window in June, with the credit going to commercial, production and other transactions.
Acevedo is new RCBC president, CEO
VETERAN BANKER Eugene S. Acevedo took the helm of Rizal Commercial Banking Corp. (RCBC) this month following the retirement of the lender’s former chief.