DBP reports lower net income in first quarter
Development Bank of the Philippines (DBP) reported lower income in the first quarter, as it increased provisioning for credit losses.
Yields on gov’t debt flat
YIELDS on government securities (GS) traded in the secondary market were flat last week over inflation results, the retail Treasury bond (RTB) offering, and developments abroad.
RCBC prices P15-billion stock rights offering
RIZAL COMMERCIAL Banking Corp. (RCBC) has set the final terms for its stock rights offer (SRO), through which it looks to raise P15 billion to strengthen its capital ratio and fund its business expansion.
Veterans Bank relaunches Mindanao branches as it targets new market
DAVAO CITY — Philippine Veterans Bank (PVB) has started relaunching its branches in key Mindanao cities as it aims to expand its market base, beginning with soldiers, military retirees and local government employees.
Peso slumps to fresh low
THE PESO slumped against the dollar on Friday on the back of a wider local trade deficit.
Local banks well-positioned to meet new liquidity requirement
BIG BANKS are well-positioned to meet new liquidity rules from the central bank, but will have to boost deposit taking and long-term loans to beef up funding, Moody’s Investors Service said.
EastWest Bank raises P2.45B via LTNCDs
EAST WEST Banking Corp. (EastWest Bank) has raised P2.45 billion from the first tranche of its long-term negotiable certificates of deposit (LTNCD) program, which will support its funding needs.
Creativity — talent or skill?
By Reynaldo C. Lugtu, Jr.
THE debate on whether artificial intelligence (AI) will replace human jobs or not is heating up. While the World Economic Forum (WEF) predicts that five million jobs will be lost by 2020 because of automation, other experts prognosticate that more jobs will be created than destroyed.
Peso drops ahead of likely Fed hike
THE PESO dropped against the dollar on Thursday as investors took positions ahead of a possible interest rate hike from the US central bank.
Yields on term deposits climb to fresh highs amid strong demand
YIELDS ON term deposits offered by the central bank soared to fresh highs yesterday, as demand for shorter maturities surged ahead of the upcoming holidays.
China’s central bank injects net 203.5 billion yuan with hefty one-year MLF rollover
SHANGHAI — China’s central bank lent 463 billion yuan ($72.43 billion) to financial institutions on Wednesday via its 1-year medium-term lending facility (MLF), with interest rates unchanged, it said in a statement.
Peso strengthens ahead of US data
THE PESO strengthened anew on Wednesday as the dollar slipped due to the stronger euro and ahead of the release of US trade balance data.