Big Australian lenders rally after new rules seen ‘relatively benign’
SYDNEY -- Australia’s big four banks rallied in Sydney trading as new capital requirements turned out to be less onerous than expected and the...
Initial offerings need to cool down, cofounder of digital coin network says
NEW YORK -- Initial coin offerings (ICOs), a means of crowdfunding for blockchain-technology companies, have caught so much attention that even the cofounder of...
Robinsons Bank says first-half net income hits P150.7 million
By Janine Marie D. Soliman,
Reporter
GOKONGWEI-LED Robinsons Bank Corp.’s net income in the first six months of the year has already surpassed its profit for...
IC studies proposal to lower insurance costs for jeepney operators
THE Insurance Commission (IC) is studying the proposal to trim premiums imposed on comprehensive motor insurance, and allow insurance firms to provide credit to...
Peso hits nearly 11-year low against US dollar
THE PESO continued to slide versus the greenback on Tuesday, hitting another fresh low in nearly 11 years, amid strong demand for the foreign...
Citigroup said to choose Frankfurt as EU hub
CITIGROUP, Inc. has chosen Frankfurt as its newest trading hub in the European Union and plans to present that option to its board of...
Gov’t partially awards T-bills as investors ask for higher returns
THE GOVERNMENT saw mixed results at its Treasury bills (T-bills) auction yesterday, raising only P7.7 billion out of the planned P15-billion borrowing, after returns...
China Bank pays term loan ahead of schedule
CHINA BANKING Corp. (China Bank) has fully paid its $158-million multi-year syndicated term loan facility, a year ahead of the deal’s maturity.
In a disclosure...
Peso sinks to fresh 10-year low vs dollar
THE PESO opened the week lower against the dollar, plunging to its weakest level in over a decade, amid market appetite for the foreign...
Thrift lenders post higher NPLs as of May
BAD DEBTS held by thrift banks increased in May to match the rise in total lending, latest central bank data showed, driven by upbeat...
BPI-Philam banks on rising population, incomes to drive 2017 premium growth
BPI-PHILAM Assurance Corp. (BPI-Philam) is looking to ride on the country’s expanding consumer and middle class market and the growing population to drive its...
Yuan set for longest run since 2015 on GDP
THE onshore yuan rose for the sixth day in a row, the longest run of gains since 2015, boosted by a stronger central bank...