Peso weakens as dollar climbs vs major units
THE PESO weakened on Thursday as the dollar strengthened on the back of a jump in US Treasury yields.
Demand for term deposits surges
BANKS scrambled to get hold of term deposits offered by the Bangko Sentral ng Pilipinas (BSP) yesterday, with the auction marked by overwhelming bids as the central bank accepted higher yields following a strong rate hike last week.
Federal Reserve chief sees muted inflation risk in ‘extraordinary economy’
FEDERAL RESERVE Chairman Jerome Powell welcomed recent increases in Americans’ wages while expressing confidence that low unemployment won’t spur a takeoff in prices that would force him to hike interest rates aggressively.
Peso up on consolidation ahead of data
THE PESO went up against the dollar on Wednesday as it consolidated ahead of the inflation data release on Friday.
Xurpas forms remittance, VCE subsidiary
XURPAS, Inc. is forming a new subsidiary that will focus on remittances, money transfers and operate as a virtual currency exchange (VCE).
Iran works to deepen marts with new financial products
IRAN is developing a range of new financial products, from Islamic bonds to warrants and insurance-linked securities, in an effort to give local firms more funding options as sanctions put pressure on the economy.
Peso weakens as investors price in inflation bets
THE PESO weakened further against the dollar on Tuesday as investors continued to price in a likely faster September inflation print.
Gov’t makes partial award of T-bills as rates rise
THE GOVERNMENT partially awarded the Treasury bills (T-bill) it auctioned off yesterday, with demand skewed towards the longer tenor due to elevated inflation bets for the month of September.
Osmanthus to buy 15% stake in BDO’s One Network Bank
BDO Unibank, Inc. has entered into an agreement with a Singaporean investment firm allowing the latter to acquire a minority share of its rural banking subsidiary.
UnionBank SRO ‘credit positive’
FRESH CAPITAL raised by the UnionBank of the Philippines bodes well for the lender’s credit rating, Moody’s Investors Service said, noting the additional funding will support brisk lending activity.
Microinsurance coverage up
THE Insurance Commission (IC) said the number of Filipinos covered by microinsurance grew further in the first half of the year driven by mutual benefit associations (MBA).
Peso down as market eyes inflation data
THE PESO weakened against the dollar on Monday as market players anticipate the September inflation print, which is seen to pick up further.