Peso hits two-month low on weak GDP data
THE PESO plunged against the dollar as it breached the P51 level on the back of slower-than-expected fourth-quarter Philippine economic growth and the end...
Anonymous bank accounts will be banned in S. Korea cryptocurrency trading
SEOUL — South Korea will ban the use of anonymous bank accounts in cryptocurrency trading from Jan. 30, regulators said on Tuesday in a...
AIG to acquire reinsurer Validus for $5.56 billion
AMERICAN International Group, Inc. on Monday said it would buy reinsurer Validus Holdings Ltd for $5.56 billion in cash, ending a long period of...
Prudential agrees to sell Vietnam consumer finance unit for $151M
PRUDENTIAL PLC has agreed to sell its consumer finance business in Vietnam to a unit of South Korea’s Shinhan Financial Group for $151 million,...
Banks need human upgrade to remain competitive — study
FOR ALL THE reorganizations the financial services industry has undertaken in recent years, it won’t achieve long-term success unless it dramatically changes the way...
PNB to raise up to P20B from LTNCD issuance
THE Philippine National Bank (PNB) is planning to raise up to P20 billion by selling peso-denominated long-term negotiable certificates of deposit (LTNCD).
In a disclosure...
Peso weakens against dollar on US shutdown
THE PESO weakened against the dollar on Monday as the US government shutdown continued.
The local currency finished at P50.835 against the greenback yesterday, losing...
SSS chief seeks to increase monthly contribution rate this year
SOCIAL SECURITY System (SSS) intends to increase its monthly contribution rate to 14% this year after failing to implement the hike last year.
“We plan...
Emerging economies free of ‘original sin’; firms not forgiven
LONDON — Most developing nations have been absolved of the “original sin” that blocked them using their own currencies to raise money abroad, but...
To ICO or not to ICO? That is the question for today’s start-ups
AUNG KYAW MOE and Jun Hasegawa have a lot in common.
Both are entrepreneurs. Both left home to seek their fortunes. Both are now working...
ECB to end QE by December but should do so sooner
BENGALURU — The European Central Bank will stop printing money by the end of the year, but should do so much sooner, a majority...
T-bonds to fetch higher yields
TREASURY BONDS (T-bonds) on offer Tuesday are likely to fetch higher yields after 10-year US Treasury yields rose to their highest levels in three...