CBS, MCBL partner with DepEd on salary loans
CHINA BANK Savings, Inc. (CBS) and Manulife China Bank Life Assurance Corp. (MCBL) are set to provide automatic payroll deduction salary loans that come with free life insurance.
Austria wants ECB board seat in 2019 shake-up
AUSTRIA’S new government said it’ll bid for a seat at the European Central Bank’s (ECB) top table next year as euro-area nations jostle for roles in a shake-up of key monetary and political posts.
Peso declines on inflation data
THE PESO weakened against the dollar to a fresh 12-year low on Wednesday following the faster-than-expected August inflation print.
Maternity leave bill seen to deplete SSS’ finances
THE MEASURE seeking to extend paid maternity leave will have a “serious implication” on the Social Security System’s (SSS) finances, a top official said while urging the government anew to hike its contribution rate.
Anti-trust body clears AXA-XL Group merger
PHILIPPINE Competition Commission has approved AXA S.A.’s acquisition of XL Group Ltd. but imposed a fine on the insurance firms for the late filing of their notification of the merger.
PDIC to bid out residential lots, other assets of shuttered GSIS Family Bank
RESIDENTIAL LOTS owned by the closed thrift bank of Government Service Insurance System (GSIS) worth P184.9 million will be disposed by the Philippine Deposit Insurance Corp. (PDIC) through a public bidding.
PVB rolls out online banking services
PHILIPPINE Veterans Bank (PVB) is set to launch online and mobile banking services as it embarks on its digital transformation.
ING to pay $900 million to end Dutch money laundering probe
ING Groep NV agreed to pay €775 million ($900 million) to settle an investigation by the Dutch prosecutor into issues including money laundering and corrupt practices in one of the biggest fines ever given to the country’s banks in a criminal case.
Peso drops vs dollar
THE PESO declined on Tuesday, with the dollar strengthening against major currencies, as investors remained cautious over trade tensions abroad.
Gov’t makes full award of Treasury bills
THE GOVERNMENT fully awarded P15 billion worth of Treasury bills (T-bill) on Monday even as yields rose across- the-board amid expectations that inflation picked up further in August.
SSS rolls out loan facility for retirees
THE SOCIAL Security System (SSS) on Monday launched the Pension Loan Program (PLP), allowing 1.3 million retiree pensioners to borrow funds.
BDO sets up P100-B peso bond program
BDO UNIBANK, Inc. has established a peso-denominated bond program of up to P100 billion to raise fresh funds.