BanKo ramps up digitalization efforts

THE microfinance arm of Ayala-led Bank of the Philippine Islands (BPI) aims to grant more loans to self-employed micro and small business owners as its way of helping them fully recover from the Covid-19 pandemic. Some P9 billion worth of loans were released to the micro, small and medium enterprises (MSMEs) last year, marking 2021 […]

China trading partners urged to be ready for possible inflationary impact when Mainland economy reopens

CHINA’s trading partners need to prepare for the pent-up demand that has built up when Beijing decides to reopen the economy, the results of which could include additional inflationary pressures, making further monetary tightening necessary, a Citigroup economist said. “In essence, China’s dynamic Zero-COVID and periodic lockdowns, in a way, are a benign contributor to […]

Peso closes at P58.99 on signals from US Fed

THE PESO further weakened versus the dollar on Tuesday following fears of a global recession as US Federal Reserve officials remained hawkish after delivering a large rate increase last week. The local unit closed at another record-low of P58.99 against the greenback on Tuesday, losing 49 centavos from its P58.50 finish on Friday, Bankers Association […]

BSP raises key rates to tame inflation

THE PHILIPPINE central bank raised benchmark interest rates on Thursday for a fifth time this year to rein in persistently high inflation amid a struggling peso and hawkish US Federal Reserve. The Bangko Sentral ng Pilipinas (BSP) increased its overnight borrowing rate by 50 basis points (bps) to 4.25% effective Friday, and its corresponding lending […]

China’s retail, factory sectors unexpectedly perk up in August

BEIJING – China’s economy showed surprising resilience in August, with an unexpected pickup in factory output and retail sales growth shoring up the recovery from the crippling effects of COVID curbs, heatwaves and a deepening property slump. The better-than-expected figures show the world’s second-largest economy is gaining some steam, after narrowly escaping a contraction in […]

DECOMAN from Hong Kong Utilizes Technologies to Go Global, Two More Markets in the APAC Region this year

SEOUL, SOUTH KOREA, Sep 5, 2022 – (ACN Newswire via – HK DECOMAN Technology Limited (“DECOMAN”) is now expanding its footprint in Korea to capture the opportunities of growing demand for its services. With the Taiwan expansion begun in January, this is the second APAC market DECOMAN entered in 2022. Coworking space at the […]