Banking & Insurance
Average rates in treasury bills mixed at Monday’s auction; issue upsized to P22.6 billion
Treasury bill yields were mixed at the auction Monday, with average rates on six- and 12-month debt papers slightly higher despite strong demand.
Total bids for the P20 billion offer was nearly three times at P53.5 billion, allowing the Bureau of the Treasury to increase the amount awarded to P22.6 billion.
Cabangon Chua Group divesting from Citystate; HK-listed firm buying 26.8 stake for P735.9 million
Citystate Savings Bank Inc. said Monday several shareholders of the listed lender, including the estate and other companies of the late Amb. Antonio Cabangon Chua, have agreed to sell their stakes to Singapore-based CS Capital Investments Pte. Ltd, a wholly-owned subsidiary of Hong Kong-listed CSC Holdings Ltd.
PDRC paves way for PCA arbitration hearings in PH
The Philippine Dispute Resolution Center, Inc. (PDRC) has entered into a cooperation agreement with the Permanent Court of Arbitration (“PCA”).
BPI sets aside P3 billion in affordable housing loans
The Bank of the Philippine Islands has allocated P3 billion with its entry in the socialized and affordable housing segment of the market.
Strong foreign investments in July reverse previous trends
Foreign investments registered with the Bangko Sentral ng Pilipinas through authorized agent banks posted net inflows of USD1.38 billion in July, helped by funds invested in government securities and stocks listed on the Philippine Stock Exchange.
