Insurance industry posts premium growth in first half
THE INSURANCE INDUSTRY booked a double-digit increase in the first half as all sectors posted robust growth, the Insurance Commission (IC) said on Wednesday.
Allianz PNB Life Insurance to craft more products for millennials
ALLIANZ PNB Life Insurance, Inc. is gearing up to attract more young Filipinos to get protected as it launched an insurance product designed for millennials.
Indonesia fights Turkey contagion with surprise hike
INDONESIA’S central bank surprised most economists by raising its benchmark interest rate a fourth time since May, moving swiftly to contain the volatility sweeping across emerging markets and curb a slide in its currency.
Peso weakens further as market remains cautious
THE PESO declined further against the dollar on Wednesday to hit a three-week low as investors continued to flock to safe-haven currencies due to concerns over the Turkish economy.
Gov’t makes full award of 5-year Treasury bonds
THE GOVERNMENT fully awarded P15 billion worth of reissued five-year Treasury bonds (T-bond) on Tuesday, accepting higher yields as the market priced in rate hikes by the Bangko Sentral ng Pilipinas (BSP).
HSBC to roll out more digital services for firms
THE HONG KONG and Shanghai Banking Corp. (HSBC) is looking to roll out more mobile services to corporate clients in the Philippines over the coming year, following a jump in its credit card business secured through digital platforms.
EastWest Bank profit drops
EAST WEST Banking Corp. (EastWest Bank) saw its net income inch down in the first half of the year following the suspension of the public school teachers’ salary loan program.
PIRA optimistic on microinsurance sector
THE PHILIPPINE Insurers and Reinsurers Association, Inc. (PIRA) is optimistic on opportunities to expand the microinsurance segment, which could improve insurance penetration in the country.
Peso declines on risk-off mood
THE PESO slipped further against the dollar on Tuesday due to continued risk-off sentiment in the market due to concerns over the Turkish economy.
Gov’t raises P15B as planned via T-bills
THE GOVERNMENT made another full award of the Treasury bills (T-bill) it auctioned off on Monday as rates slipped across all tenors following further policy tightening by the central bank.
BSP’s Monetary Board shuts down Rural Bank of Pagbilao’s operations
THE CENTRAL BANK has ordered another provincial bank to shut down its operations, marking the eighth lender to fold this year.
BPI Direct BanKo to have 200 branches by yearend
BPI DIRECT BanKo Inc., the microfinance unit of listed Bank of the Philippine Islands (BPI), is set to hit its target of 200 branches by yearend as it leverages on the branch-lite initiative of the central bank.