UNION BANK of the Philippines, Inc. said it received approval from the Bangko Sentral ng Pilipinas (BSP) to issue up to P20 billion worth of notes.

CREDITORS of the defunct Maximum Savings Bank have been invited to submit their claims against the bank’s assets, the Philippine Deposit Insurance Corp. (PDIC) said.

THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.

TERM DEPOSIT yields slipped on the first week of the year on the back of some holiday fever and the stronger performance of the peso in 2019.

THE GOVERNMENT is planning to price its foreign bond issuances this year at “even tighter” spreads amid expectations of a credit rating upgrade in the medium term and policy easing from global central banks.

As we welcome the start of a new decade, it is heartening to know that the Philippines will remain among the fastest-growing economies in the world, based on a recent report from the UK-based Economist Intelligence Unit (EIU) titled “The Next Decade.”

THE PESO weakened on the first trading day of the year on the back of the losses in the stock market and as some investors stock up on their dollar ahead of the uncertainties throughout the year.

THE BANGKO SENTRAL ng Pilipinas (BSP) will now require bigger lenders to report their intraday liquidity position as it looks to monitor its supervised institutions and their capacity to shoulder their day-to-day obligations with clients.

THE INSURANCE Commission (IC) said “majority” of nonlife insurance companies are still working to meet the higher minimum capital requirement that took effect at end-2019, while only “a couple” of life insurers have not yet reached the prerequisite, its top official said.

IF IN THE throes of this bull market’s earliest stages of recovery someone told you to forgo stocks, forget commodities, renounce fixed-income assets and buy an unknown digital token, the first of its kind, and watch it grow beyond your wildest dreams, you’d call them crazy, right?

JAKARTA — Indonesia plans to impose fixed fees on some e-wallet transactions, five people familiar with the matter said, in a move that could choke a key revenue stream and raise costs for payment start-ups backed by the likes of Alibaba’s Ant Financial.

JPMORGAN CHASE & Co. is seeking 100% ownership of its futures joint venture in China, according to a person with knowledge of the matter, making it the first global bank to take advantage of the opening of the nation’s futures market, where transactions topped $30 trillion in 2018.