As firms hold back, US consumers seen boosting big banks’ profits

NEW YORK — Consumer lending is expected to propel profits for big US banks when they unveil fourth-quarter results this week, though stress in corporate lending and uneven capital markets may cast a shadow over results.

WFH during the ECQ: CIMB Bank’s Vijay Manoharan

WHAT has it been like to be an expat in the Philippines during an extraordinary mandated work from home situation?

Metro Pacific, San Miguel in partnership for P72 billion worth of expressway projects

METRO PACIFIC Tollways Corp. (MPTC) and San Miguel Corp. said they signed a memorandum of agreement to design, build and operate the Cavite-Batangas Expressway...

Central bank looking to tighten its watch on lenders’ ownership

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to bring down the threshold for the transfer of shares of stocks that needs its approval to ensure “proper” and “fit” ownership of BSP-supervised financial institutions (BSFIs).

September FDI inflows lowest in 4 months

Net inflows of foreign direct investments (FDI) climbed to $660 million in September, although this was the lowest in four months as the elevated...

438 Filipinos from US-based cruise ship to come home

THE government will bring home more than 400 Filipinos aboard the MV Grand Princess cruise ship docked in Oakland, California, the Department of Foreign Affairs (DFA) said on Sunday.

PHL rules out tapping global bond market

THE government probably won’t tap global bond markets to fund its anti-coronavirus disease 2019 (COVID-19) response, National Treasurer Rosalia V. de Leon said on Thursday, citing ample liquidity supply in the local market.

India eases ban on white rice exports, gives PHL top quota

THE INDIAN government said on Wednesday that it eased its ban on exporting non-basmati white rice, and gave the Philippines a quota of 295,000...

Jobless rate back to pre-pandemic level

THE UNEMPLOYMENT RATE eased to 4.5% in October, returning to the record-low level last seen in October 2019 before the coronavirus pandemic hit, the Philippine Statistics Authority (PSA) said.

Business groups back removal of PPA’s commercial functions

LOCAL BUSINESS GROUPS are supporting a proposed law that seeks to remove the Philippine Ports Authority’s (PPA) revenue-generating function, saying this “problematic mandate” has led to a steady rise in cargo-handling rates that affected the country’s competitiveness.

Analysts urge Manila to curb Chinese fish imports to send strong signal

THE PHILIPPINES should consider restricting fish imports from China to assert its sovereignty claims in the South China Sea, defense analysts said at the weekend.

Is the Great Sri Lanka Fire Sale about to begin?

By Ruth Pollard
SRI LANKA has a habit of selling off its assets when times are tough. And it doesn’t get much tougher than this. The tiny island nation is in default and in desperate need of $4 billion to pay for food, fuel, and fertilizer to stave off a deeper crisis.