Target of WB’s $100M COVID-19 loan to PH: Save 16,700 lives
The World Bank (WB) has given the green light to a $100 million loan for the Philippine Department of Health’s (DOH) COVID-19 Emergency Response Project which seeks to acquire more…
PH banks free to assume more dollar risk under new BSP rules
The central bank has eased a rule that had required financial institutions to keep a 100-percent buffer of assets for their foreign currency liabilities on a daily basis, saying that…
NEDA dangling tax-free perks for 6 development projects
MANILA, Philippines – The state planning agency National Economic and Development Authority (Neda) is dangling tax incentives to private individuals and firms that will donate money to six programs under…
S. Korean testing kit maker Solgent gears up for IPO
(Yonhap) via The Korea Herald SEOUL — South Korean genetic technology firm Solgent has picked local brokerage Mirae Asset Daewoo as an underwriter for its initial public offering, buoyed by…
S. Korean economy shrinks 1.4% in Q1 amid virus fallout, sharpest contraction since 2008
SEOUL — South Korea’s economy shrank 1.4 percent on-quarter in the first quarter of this year, as the coronavirus pandemic crippled industrial output, consumer spending and job markets, the Bank…
Andrew Tan group’s COVID-19 donation hits P603M
The group of property tycoon Andrew Tan’s COVID-19 relief fund mobilization has breached the P600-million milestone since the whole of Luzon was locked down to curb the pandemic in mid-March.…
BPI’s Q1 net profit down 5% on higher loan loss buffer
BPI prexy Cezar Consing Higher provisioning for probable credit losses amid the COVID-19 pandemic trimmed Bank of the Philippine Islands (BPI)’s first quarter net profit by 5 percent year-on-year to…
Asian shares rise moderately as oil prices recover
TOKYO — Asian shares rose moderately Thursday following a rally on Wall Street and even oil prices recovering from their recent plunge to zero. Currency traders watch monitors at the…
SEC orders closure of 4 illegal online lending apps
Securities and Exchange Commission (SEC) logo The Securities and Exchange Commission (SEC) has directed four online lending platforms to stop offering loans to the public, citing lack of license, failure…
Stocks climb worldwide as oil prices crawl off the floor
NEW YORK — Stock rose on Wednesday, and the S&P 500 recovered a chunk of this week’s sharp losses as a bit of oxygen pumped through markets around the world.…