T-bills to fetch higher rates due to thin demand
TREASURY BILLS (T-bills) on offer this week will likely fetch higher yields amid lower demand as the market expects the local central bank to raise its policy rates anew following the faster-than-expected June inflation print.
Peso to move within tight range after positive US data
THE PESO will likely move sideways against the dollar this week on the back of likely mixed economic data in the United States and as well as potentially weak Philippine trade figures.
GSIS sets minimum rating for reinsurance bidders
GOVERNMENT SERVICE Insurance System (GSIS) is now requiring firms wishing to join the pension fund’s bidding for reinsurance contracts to carry a minimum credit rating of B+.
Yields on gov’t debt mixed
YIELDS saw mixed movements last week as investors priced in the escalating trade war between the US and China and after domestic inflation reached a fresh five-year high.
June GIR declines to lowest level since 2011
GROSS international reserves (GIR) continued to decline at the mid-year point to their lowest level in nearly seven years, with the central bank continuing to intervene in the foreign exchange market to defend the peso.
PHL signs social security deals with Germany, Japan
THE Philippines’ two major pension funds have signed social security arrangements (SSAs) with Germany and Japan to extend benefit coverage to Filipino residents of that country.
Nat Re 2017 net profit down 35% at P50-M
NATIONAL Reinsurance Corp. of the Philippines (Nat Re) said net profit fell in 2017 due to reinsurance payouts for calamities and fires.
Peso flat vs. dollar in rangebound trading
THE peso ended flat against the dollar on Friday after the release of the minutes of the June meeting of the US Federal Reserve.
BSP accredits two VC exchanges
TWO NEW digital currency exchanges have been accredited by the Bangko Sentral ng Pilipinas (BSP), a senior official said.
BPI eyes to expand branch network
BANK OF THE Philippine Islands (BPI) is growing its branch network in the provincial areas in line with its financial inclusion goal and digitalization push.
IC shuts operations of pre-need firm Paz Life Plans
THE Insurance Commission (IC) has suspended the operations of pre-need firm Paz Life Plan, Inc. after it failed to comply with the capitalization requirement.
Silo mentality
By Reynaldo C. Lugtu, Jr.
“Employees in my company are working in silos.” This is a common issue raised by business leaders when asked why their companies are not innovating.