Banking & Insurance
Manulife to redeem USD750 million debentures starting August 20
Manulife Financial Corp., a global financial services provider headquartered in Canada, said it plans to redeem all outstanding USD750 million principal amount of 3.049 percent fixed/floating subordinated debentures on August 20.
China Bank new PSE ticker symbol: CBC
The Philippine Stock Exchange Inc. and China Banking Corp. on Wednesday held a special bell ringing ceremony marking the first time that Chinabank traded under the stock symbol CBC from CHIB.
NG deposits, bond proceeds help push May BOP into surplus
The country’s balance of payments (BOP) stood as a surplus of USD 2 billion in May, a reversal from the USD 439 million deficit recorded a year earlier.
T-bill rates average mostly higher at auction
Treasury bill yields were largely higher at the auction Tuesday, just days after the Federal Reserve held U.S. interest rates steady after an unexpectedly unchanged inflation in May.
Net exodus of Q1 foreign investments help moderate BOP surplus of only $238 million
The balance of payments (BOP), or what is left of the country's foreign currency earnings minus its foreign currency expenses, stood as a surplus of only USD238 million in the first three months this year, sharply lower than the year-earlier surplus of USD3.5 billion.
