Treasury selling 5-year RTBs at 2.625% coupon
MANILA, Philippines — The Bureau of the Treasury on Thursday started selling five-year retail treasury bonds (RTB), which fetched a coupon of 2.625 percent. The Treasury awarded an initial P192.7…
Deeper fall in PH GDP seen as COVID-19 quarantine further extended
MANILA, Philippines — Extending the general community quarantine (GCQ) in Metro Manila and neighboring provinces that host the bulk of the country’s economic activities until this month’s end while COVID-19…
RCBC raises P16B from bond sale
Yuchengco-led Rizal Commercial Banking Corp. has raised P16.6 billion from a new local bond offering which was warmly received by the cash-awash local financial market. The two-year bonds were issued…
Air India institutes ‘leave without pay’ for up to 5 years
A special Air India flight. Twitter | @indembastana via The Statesman/Asia News Network NEW DELHI — Even as the privatization process drags on, India’s national carrier Air India has instituted…
Asian shares retreat as virus vaccine rally fades
Shares fell back in Asia on Thursday after markets worldwide rallied on rising hopes for a COVID-19 vaccine. A man walks past an electronic stock board showing Japan’s Nikkei 225…
China’s economy grows 3.2% as virus lockdowns lifted
BEIJING — China became the first major economy to grow since the coronavirus pandemic began, recording an unexpectedly strong 3.2% expansion in the latest quarter as anti-virus lockdowns were lifted…
ADB says Cambodia to lose 390,000 jobs due to COVID-19
The ADB’s support will be targeted at businesses, households and individuals that have been adversely affected by the crisis. The Phnom Penh Post/Asia News Network PHNOM PENH — The Asian…
Bangkok property market takes $4.7 billion hit ‘with worse to come’
The Nation/Asia News Network BANGKOK — The virus crisis has wiped a whopping Bt150 billion ($4.7 billion) off the value of the residential market in Bangkok and surrounding provinces, Krungthai…
BPI’s Q2 profit down 25% on higher loan loss buffer
BPI logo Ayala-led Bank of the Philippine Islands (BPI) booked P11.68 billion in first semester net profit, down by 15 percent year-on-year as the bank set aside a much larger…
Lopez: Barter taxable only if treated as business
MANILA, Philippines — Trade Secretary Ramon Lopez clarified Thursday that barter trading is only taxable if such acts are being treated as a business. Lopez made the remark after receiving…