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Monetary Board member Araneta passes away

2018-02-22 bworldonline
MONETARY BOARD Member Valentin A. Araneta, a veteran of the banking industry, passed away on Feb. 21, according to the Bangko Sentral ng Pilipinas (BSP) on Thursday. He was 69. (6-0)

Approved foreign investment pledges lowest in more than a decade — PSA

2018-02-22 bworldonline
APPROVED foreign investment commitments fell to their worst level in 12 years, according to data the Philippine Statistics Authority (PSA) released on Thursday. (4-0)

Luisita firm sues farmers for breaking into bank lot

CITY OF SAN FERNANDO — Luisita Land Corp. has sued 15 farmers of Hacienda Luisita in Tarlac province for malicious mischief and trespassing for trying to break-in and take portions of a 500-hectare property owned by Rizal Commercial Banking Corp. (RCBC) inside the former sugar estate in November last year. (4-0)

RCBC net income climbs 11.4% to P4.3B in 2017

2018-02-13 bworldonline
RIZAL COMMERCIAL Banking Corp.’s (RCBC) net income climbed in 2017 on the back of growth across its business segments. (4-0)

HK finance firm eyes PH investments

Following China’s “One Belt and One Road” strategy for outward expansion, financial conglomerate Freeman FinTech Corp. Ltd. is exploring investment opportunities in the Philippines especially in the field of banking. (9-0)

Capital markets pause for breath as rate hike fears upset stock prices

2018-02-11 bworldonline
COMPANIES seeking to tap the stock market for funding may stay on the sidelines until the dust from the global equity sell-off settles, as investors grapple with rate hike fears. (9-0)

PHL posts largest annual trade deficit in 2017; factory output slumps

2018-02-09 bworldonline
THE Philippines’ trade deficit hit a new record high in December as exports contracted for the first time in more than a year and imports posted double-digit growth. (8-0)

Bangladesh central bank, RCBC gird for legal fight

2018-02-08 bworldonline
DHAKA/MANILA — Bangladesh’s central bank and Rizal Commercial Banking Corp. (RCBC) late on Wednesday said they were prepared to do legal battle over their purported roles in one of the world’s biggest cyber heists two years ago. (9-0)

Philippine bank threatens counter-suit over world’s biggest cyber-heist

2018-02-08 themalaymailonline
Unidentified hackers stole US$81 million from the Bangladesh central bank's account with the US Federal Reserve in New York two years ago, then transferred it to a Manila branch of the Rizal Commercial Banking Corp (RCBC). — Reuters picMANILA, Feb 8 — The Philippine bank used by hackers to transfer money in the world’s biggest cyber heist warned of tit-for-tat legal action today, after Bangladeshi officials said they would sue the lender. (4-0)

RCBC says considering lawsuit vs Bangladesh central bank over heist accusations

2018-02-08 philstar
MANILA, Philippines — The Philippine bank through which $81 million stolen from Bangladesh’s central bank was channeled two years ago threatened legal action against Dhaka officials for claiming the bank had a hand in the cyber heist. (4-0)

Bangladesh to file US suit vs RCBC over central bank heist

2018-02-08 philstar
MANILA, Philippines — Bangladesh's central bank will file a lawsuit in New York against a Philippine bank over the world's largest cyber heist, the finance minister said Wednesday. (4-0)

Poll bares rate hike expectation

2018-02-04 bworldonline
INFLATION likely clocked faster in January as impact of the tax reform law kicked in, coupled with rising global oil prices, prompting several analysts to price in an interest rate hike from the central bank in this week’s policy review. (4-0)

Factory growth slows ‘noticeably’

2018-02-01 bworldonline
BUSINESS for factories in the country improved further in January, but such growth slowed “noticeably” as new orders and output increased at “the weakest pace in four months,” according to the latest monthly survey IHS Markit conducted for Nikkei, Inc. (4-0)

RCBC ties up with eCurrency for digital money

2018-01-25 bworldonline
RIZAL COMMERCIAL Banking Corp. (RCBC) is set to launch a digital money product, in partnership with eCurrency Mint Limited, within the second quarter of the year. (4-0)

2017 hot money outflow smaller than expected

2018-01-18 bworldonline
SUSTAINED investor optimism over enactment in December of the first of up to five planned tax reform packages drove more foreign funds to the Philippines that month, leaving the full-year net outflow smaller than the central bank’s projection. (13-0)

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