Share   Major Asian stock exchanges widened their losses on Monday in what seems to  be an busy day in world markets, just after  Standard and Poor’s downgrade of the U.S. credit rating last week.  Tokyo’s Nikkei index fell 240 points, or 2.5% in afternoon trading. KOSPI of South Korea index went down to  6.2%. [Continue reading]

Share   Globe Telecom has decided to work with Philippine Savings Bank (PSBank), a strategic partnership with  the thrift banking arm of the Metrobank Group, to improve its electronic banking channels. In the partnership, Globe subscribers with registered PSBank accounts can use  PSBank’s electronic banking service anywhere [Continue reading]

Share On Thursday, the Bangko Sentral ng Pilipinas revealed  before a Department of Justice panel a witness to the string of criminal charges it filed against Banco Filipino Mortgage and Savings Bank. BSP lawyer Sandra Coronel said witness Rey Taguinod happens to  be  the central bank’s examiner who found out the Banco [Continue reading]

Share The Bank of England still keeps its interest rate at a record low of 0.5% as it balances the risk of rising inflation. The Monetary Policy Committee likely had a debate as they try to balance the inflation pressures with that of a fragile economic recovery. The pressure to increase interest rates are likely [Continue reading]

Share Graphic department involved with the new-generate banknotes is being slammed  because of the errors discovered. Philippine maps and a rare parrot with the wrong-colored beak have troubled the country after the central bank rolled out error-filled new editions of its peso bills. In the 500 peso bill, the reverse side  features a [Continue reading]

Share The unveiling of redesigned peso bills is expected to happen in 3 weeks. The said bills could be in circulation before the year ends, a Bangko Sentral ng Pilipinas (BSP) official yesterday confirmed.  Central bank Deputy Governor Diwa C. Guinigundo said the bills are still being printed and tentatively the launching is set for [Continue reading]

Share   The Asian Development Bank (ADB) forecasts Philippine growth to 6.2 percent coming from influx of remittances from overseas Filipino workers which will boost the growing domestic consumption, increased investments and strong export growth.   In an ADB news released through their publication today said the higher-than-expected 7.9 [Continue reading]

Share  Following the announcement of unexpected Philippine economy growth for the first half this year, Citigroup expressed skepticism saying that the country’s gross domestic product (GDP) would slow down this second half to 5.6 percent. Citigroup economist Jun Trinidad said Thursday that the Philippines would have a moderate downtrend [Continue reading]

Share For a fourth-straight session Friday, Hong Kong stocks went down 0.16 percent as traders were not able to shrug off worried over the global economy. Hang Seng Index, Hong Kong’s benchmark has dropped 34.14 points to 21,071.57. Turnover was 57.69 billion Hong Kong dollars (7.40 billion US). As for Chinese shares, it closed up [Continue reading]

Share After the speech of President Benigno Aquino III, his first State of the Nation Address (Sona) which according to  some traders, somewhat heightened  market confidence in the Philippine economy. The peso was up by 17 centavos on Monday.   The local currency closed at 46.145 against the US dollar, adding  17 centavos from [Continue reading]