Peso rises anew
THE PESO climbed against the dollar anew to hit a fresh one-year peak, driven by market optimism on China and the United States striking a trade deal.
Bids for BSP’s term deposits drop
DEMAND for the Bangko Sentral ng Pilipinas’ (BSP) term deposits declined on Wednesday ahead of the implementation of the second round of cuts to banks’ reserve requirements.
SSS expects to recover more than half of contribution collectibles
THE Social Security System (SSS) said it may only be able to recover more than half of the expected collectibles from the agency’s condonation program, noting that out of over 132,000 established delinquent employers, only 16,460 of them have availed of the amnesty program in the first three months of the implementation.
PBCom closes sale of car loans to EastWest
PHILIPPINE BANK of Communications (PBCom) has closed the sale of its car loan portfolio to East West Banking Corp. (EastWest Bank) to focus on its core market.
Insurers’ REIT investments to qualify as admitted assets
THE Insurance Commission (IC) has issued guidelines on insurers’ investment on real estate investment trusts (REIT), admitting such as assets.
SSS looking to hire more fund managers for IRF
LOCAL managers for the remaining P2 billion of the Social Security System’s (SSS) investment reserve fund (IRF) may be tapped as early as end-June, the pension fund’s chief said on Wednesday.
Peso weakens on Fed remarks
THE PESO weakened against the dollar following less dovish remarks from US central bank officials.
Gov’t makes full award of T-bills as rates drop
THE GOVERNMENT fully awarded the Treasury bills (T-bill) on offer yesterday, with rates slipping across all tenors as market participants await the trade meeting between the United States and China later this week.
Hanjin creditor banks eyeing shipyard’s sale, shares in parent to recoup funds
THE FIVE local banks exposed to the troubled Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) are exploring a two-pronged approach to recoup their funds, an official from Rizal Commercial Banking Corp. (RCBC) said.
FWD Group in talks to buy MetLife Hong Kong
FWD GROUP is in advanced talks to buy MetLife Inc.’s Hong Kong insurance unit in what would be the latest in a string of acquisitions by the insurer backed by billionaire Richard Li, people familiar with the matter said.
BoJ debated cost of easing in clarifying rate guidance
TOKYO — Bank of Japan (BoJ) policy makers debated the need to be vigilant over the rising cost of prolonged monetary easing when they adopted in April a pledge to keep ultra-low interest rates for at least a year, minutes of their rate review showed.
PHL urged to use fintech to lower remittance costs
THE PHILIPPINES must take steps to make remittances more efficient, even as financial technology has improved in the country, money transfer solutions company Ripple said.