Peso to climb on pent-up flows
THE PESO is seen to strengthen this week amid temporary tightness in liquidity as well as pent-up inflows following the long weekend.
GSIS extends condonation program for housing loans
THE Government Service Insurance System (GSIS) said it extended for a year its housing loan condonation program to help members stave off foreclosure on their properties.
AUB joins UnionPay payments network
ASIA United Bank Corp. (AUB) said it signed a partnership agreement with China’s UnionPay in order to better serve UnionPay cardholders’ cashless transactions in the Philippines.
Peso closes higher as banks stock up for holidays
THE peso recovered against the dollar on Friday as banks built up their peso holdings ahead of the holiday break, a high-spending period when peso bills are also in high demand for gift-giving.
Bangko Sentral income surges to P48.33 billion in first 10 months
THE CENTRAL BANK saw its net income rise fourfold as of October, driven by huge gains from foreign exchange at a time of a weaker peso.
Fifty shades of FINEX
By J. Albert Gamboa
1968 has been portrayed in many publications as the most turbulent year in the 20th century that rocked the very foundations of Planet Earth. It was the year when world history seemed to change daily — with the tumultuous 1960s reaching a political and cultural boiling point in dramatic, game-changing fashion.
Peso weakens versus dollar on Powell’s hawkish remarks after fresh Fed rate hike
THE PESO weakened versus the dollar on Thursday as the US Federal Reserve made hawkish remarks despite expectations of a pause after its interest rate hike.
Bids for term deposits decline ahead of holidays
BIDS FOR term deposits plunged this week, as banks chose to hold more cash ahead of the holidays.
Security Bank targets retail segment expansion
SECURITY BANK Corp. is growing its retail banking segment as the lender expects the domestic economy to grow robustly.
UCPB sees continued card usage growth
UNITED COCONUT Planters Bank (UCPB) expects card usage to grow further as electronic payment adoption in the country increases.
‘Big Four’ accounting firms in Britain face major overhaul
LONDON — Britain’s “Big Four” accounting firms face a radical shake-up from proposals to reduce their hold on the market for auditing companies’ books, which would also force them to separate their audit and advisory businesses.
High taxes seen to hasten bank moves from Britain after Brexit — lobby group
LONDON — Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday.