BANKING & FINANCE 62/63

FRANCO-GERMAN EURO RECOVERY FUND AND ITS IMPLICATIONS

The Financial District

Jun 2, 20202 min read

FRANCO-GERMAN EURO RECOVERY FUND AND ITS IMPLICATIONS

The €500 billion ($547 billion) COVID-19 recovery fund proposed by German Chancellor Angela Merkel and French President Emmanuel Macron has

BDO ADDS P20 BILLION IN LOAN LOSS PROVISION

The Financial District

Jun 1, 20201 min read

BDO ADDS P20 BILLION IN LOAN LOSS PROVISION

BDO Unibank today added another P20 billion in loan loss provision in what it said was a preemptive move following the expected souring of l

COVID 19 PANDEMIC : EURO BANK LAUNCHES ON LINE LEARNING

The Financial District

May 31, 20202 min read

COVID 19 PANDEMIC : EURO BANK LAUNCHES ON LINE LEARNING

The European Bank for Reconstruction and Development is launching a free-to-use online learning and advice programme to support micro, smal

POPE URGES NATIONS: DIVERT ARMS FUNDING TO PANDEMIC PREVENTION

The Financial District

May 31, 20201 min read

POPE URGES NATIONS: DIVERT ARMS FUNDING TO PANDEMIC PREVENTION

Pope Francis on Saturday, May 30, 2020, urged politicians to divert funds spent on weapons to research to prevent another pandemic, as he le

US COVID-19 RELIEF FUND WENT TO FIRMS THAT AVOIDED PAYING TAXES

The Financial District

May 31, 20201 min read

US COVID-19 RELIEF FUND WENT TO FIRMS THAT AVOIDED PAYING TAXES

US taxpayers may be furious to learn that the $660 billion Paycheck Protection Program (PPP) meant to save small firms convulsed by the pand

WALL STREET ENDS HIGHER DESPITE US-CHINA ROW

The Financial District

May 31, 20201 min read

WALL STREET ENDS HIGHER DESPITE US-CHINA ROW

US stocks finished mostly higher on Friday (Saturday, May 30, 2020 in Manila) after President Donald Trump announced measures against China

US INDICTS NOKOR BANKERS FOR EVADING SANCTIONS

The Financial District

May 30, 20201 min read

US INDICTS NOKOR BANKERS FOR EVADING SANCTIONS

The US Justice Department has accused North Korea’s state-owned bank of evading sanctions and charged 28 North Koreans and five Chinese citi

FIRM WAXES HOT ON BITCOINS, GOBBLES UP ALL NEW COINS IN MARKET

The Financial District

May 30, 20201 min read

FIRM WAXES HOT ON BITCOINS, GOBBLES UP ALL NEW COINS IN MARKET

Grayscale Investments has acquired 18,910 Bitcoins (BTC) since the May 11 block halving even as Goldman Sachs continues to tell its clients

The Financial District

May 30, 20202 min read

CREATE MANIFESTO

The Financial Executives Institute of the Philippines (FINEX), Federation of Filipino Chinese Chambers of Commerce and Industry (FFCCCI) and

The Financial District

May 27, 20201 min read

RCBC DIVIDENDS

The Yuchengco conglomerate's Rizal Commercial Banking Corp (RCBC) has approved the declaration of dividends by its board of directors in a m

TREASURY AWARDS P24 T-BILLS IN TODAY’S AUCTION

The Financial District

May 26, 20201 min read

TREASURY AWARDS P24 T-BILLS IN TODAY’S AUCTION

The Bureau of Treasury has fully awarded today (May 26, 2020) its offer of treasury bills with amounts tendered more than four times the auc

ARGENTINA DEFAULTS FOR 2ND TIME IN 20 YEARS, 9TH OVERALL

The Financial District

May 24, 20201 min read

ARGENTINA DEFAULTS FOR 2ND TIME IN 20 YEARS, 9TH OVERALL

Argentina defaulted on Friday, May 22, 2020, for the second time in less than 20 years after failing to pay $500 million of interest on its

OIL PRICE CRASH PADS ASSET RISKS TO ASIAN BANKS

The Financial District

May 23, 20201 min read

OIL PRICE CRASH PADS ASSET RISKS TO ASIAN BANKS

Moody's Investors Service says an unprecedented plunge in oil prices since March this year is adding to asset risks for banks in Singapore,

BANK OF JAPAN BACKS SMALL BUSINESSES BATTLING PANDEMIC

The Financial District

May 23, 20201 min read

BANK OF JAPAN BACKS SMALL BUSINESSES BATTLING PANDEMIC

The Bank of Japan (BOJ) vowed on Friday, May 22, 2020, to provide some 30 trillion yen ($280 billion) to banks for financing small and mediu

U.S. STOCKS GET DRUBBING AS JOBLESS NUMBER SOARS TO NEARLY 40-M

The Financial District

May 22, 20201 min read

U.S. STOCKS GET DRUBBING AS JOBLESS NUMBER SOARS TO NEARLY 40-M

U.S. stocks went south on Thursday (Friday in Manila), May 21, 2020 as traders expressed worries about historic 2.4 million jobless claims f

MASTERCARD LETS STAFF WORK FROM HOME UNTIL PANDEMIC SUBSIDES

The Financial District

May 21, 20201 min read

MASTERCARD LETS STAFF WORK FROM HOME UNTIL PANDEMIC SUBSIDES

Mastercard is letting its employees worldwide to work from home until they are sure that the COVID-19 pandemic is under control, Noor Zainab

GOLD POISED TO SURPASS HISTORIC HIGH OF $1,900 AN OUNCE

The Financial District

May 20, 20201 min read

GOLD POISED TO SURPASS HISTORIC HIGH OF $1,900 AN OUNCE

Gold has shown its strength as an asset, beating all other commodities by shooting its price through the roof and threatening to surpass...

NATIONS WITH HUGE DEBT NEARING THE CLIFF, EXPERTS WARN

The Financial District

May 19, 20201 min read

NATIONS WITH HUGE DEBT NEARING THE CLIFF, EXPERTS WARN

Three countries saddled with huge debt have already defaulted this year and more may join the financial disaster.

WARREN BUFFETT SLASHES GOLDMAN SACHS STAKE BY 84%

The Financial District

May 19, 20201 min read

WARREN BUFFETT SLASHES GOLDMAN SACHS STAKE BY 84%

Berkshire Hathaway, Warren Buffett’s investment firm, has dumped 84% of its holdings in Goldman Sachs and got out of Phillips 66 and Travele

The Financial District

May 19, 20201 min read

FED BUYS $305-M CORPORATE DEBT ETFs

The Federal Reserve's latest corporate-credit facility took in $305 million worth of exchange-traded funds (ETFs) on the first day of its op

GERMANY’S PLUNGING INTO RECESSION DRAGS OTHER EU COUNTRIES

The Financial District

May 19, 20201 min read

GERMANY’S PLUNGING INTO RECESSION DRAGS OTHER EU COUNTRIES

The German economy, the biggest in the European Union (EU) contracted by 2.2% in the first quarter of this year, the biggest contraction sin

EASTWEST BANK POSTS 75% HIKE IN EARNINGS

The Financial District

May 18, 20201 min read

EASTWEST BANK POSTS 75% HIKE IN EARNINGS

EastWest Bank (EW) has posted a 75 % increase in its net income to P2.3 billion for the first quarter of the year on better margins from i

LGU LOCAL TREASURERS URGED TO MONITOR BAYANIHAN GRANTS

The Financial District

May 18, 20202 min read

LGU LOCAL TREASURERS URGED TO MONITOR BAYANIHAN GRANTS

Local treasurers of local government units (LGUs) have been asked to monitor the “Bayanihan” grants the government released to each municipa

MANULIFE FINANCIAL ISSUING $500 MILLION DEBT NOTES

The Financial District

May 15, 20201 min read

MANULIFE FINANCIAL ISSUING $500 MILLION DEBT NOTES

Listed Manulife Financial Corporation today disclosed to the Philippine Stock Exchange that it is issuing $500 million in debt notes priced

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