Yields on BSP’s term deposits inch lower
YIELDS on term deposits inched lower yesterday as market players swarmed the central bank’s offering with overwhelming bids across all tenors.
Credit Information Corp. not keen on naming more accessing entities
STATE-RUN Credit Information Corp. (CIC) is reluctant to accredit more credit bureaus as Filipinos’ access to formal lending institutions remains low.
Citi gears up for investment surge with new China desk
HONG KONG — Citigroup Inc. will set up a China business desk in India within the year betting on a pickup in investment flows within the Asian region, its Asia-Pacific corporate banking head said, as concerns grow about the impact of a Sino-US trade war.
Yuan bears turn bulls on likely weaker greenback
THE YUAN is about to get bailed out by a weaker dollar, according to forecasters who correctly called the Chinese currency’s recent downtrend.
Peso slips to near two-week low
THE PESO weakened on Wednesday, slipping to a near two-week low against the dollar, due to a fresh escalation in trade tensions between China and the United States.
Banks’ fund raising to bolster lending
ACTIVE fund-raising initiatives taken by Philippine banks should help sustain robust lending in the country, especially amid strong demand for infrastructure financing, a global credit rater said.
AXA Philippines bullish on expansion
PHILIPPINE AXA Life Insurance Corp. (AXA Philippines) is bullish on its growth prospects despite the supposed turbulence in the market due to elevated inflation, it said as it launched its training academy for its financial advisors on Tuesday.
Rediscount loans up at end-June
BANKS SECURED additional loans from the central bank’s rediscount window in June to support capital expenses and commercial lending despite rising borrowing costs.
IC bares acquisition, merger plans in non-life sector
THE INSURANCE COMMISSION said Chinese firms are eyeing to support a non-life insurance company placed under conservatorship.
ACOM starts local lending operations
ACOM Consumer Finance Corp. has started its lending operations as it aims to reach out to 1.5 million Filipinos in Metro Manila.
BPI eyes increased use of electronic channels
BANK of the Philippine Islands (BPI) wants to double the number of clients using electronic channels in the next five years as it ramps up its digitalization push.
Peso weakens on PHL trade data
THE PESO depreciated against the dollar on Tuesday after local data showed a wider trade deficit.