Central bank, PPMI to launch 3 e-payment facilities
THE BANGKO SENTRAL ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) will launch three e-payment streams amid the regulators push to increase the use of online platforms for transactions.
China’s bond platform stops reporting trades by foreigners
CHINA’S main bond trading platform for foreign investors has quietly stopped providing data on their transactions, a move that may heighten concerns about transparency in the nation’s $20- trillion debt market after record outflows.
Allianz to pay more than $6B in US fraud case, fund managers charged
NEW YORK/MUNICH — Germany’s Allianz SE agreed to pay more than $6 billion and its US asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the coronavirus disease 2019 (COVID-19) pandemic.
Lagarde gives central bank chiefs louder voice on policy
FRANKFURT — European Central Bank (ECB) President Christine Lagarde has given national central bank chiefs a bigger say in policy meetings, asking her own board to speak less and set aside more time for debate, sources familiar with the process said.
Mastercard begins facial-recognition rollout with retailers
MASTERCARD, INC. has begun to trial a biometric payment system for brick-and-mortar stores, using facial recognition rather than contactless cards, smartphones or memorable PINs.
Peso weakens on hawkish Fed, fears over cases of subvariant
THE PESO weakened versus the greenback on Wednesday as the US Federal Reserve chief said they could tighten rates more aggressively to control rising inflation and amid the confirmation of local transmission of a new subvariant of the coronavirus disease 2019 (COVID-19).
Gov’t partially awards fresh seven-year bonds
The government partially awarded the fresh Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher returns due to expectations of a...
Bank of Commerce Q1 income more than doubles
THE Bank of Commerce (BankCom) net income soared by 146.4% in the first quarter as its interest earnings improved, it said in a filing...
Bangko Sentral opens currency exchange facility for Filipinos returning from Ukraine due to war
The Bangko Sentral ng Pilipinas (BSP) has launched a program that will allow Filipinos returning from Ukraine to exchange their Ukrainian hryvnia (UAH) to...
RCBC sees SME loans growing by at least 9% this year
RIZAL Commercial Banking Corp. (RCBC) expects its loans to small businesses to increase by at least 9% this year as the economy continues to...
Peso climbs vs dollar as March remittances rise
THE PESO strengthened versus the greenback on Tuesday following strong remittance data.
The local unit closed at P52.425 on Tuesday, appreciating by 6.8 centavos from...
Bids for T-bills rejected as market bets on BSP hike
THE GOVERNMENT rejected all bids for its offer of Treasury bills (T-bills) on Monday as investors asked for higher rates due to bets of a hike at the Bangko Sentral ng Pilipinas’ (BSP) policy meeting this week.