Economy / Banking

HSBC to slash investment bank, 35,000 jobs in strategy overhaul

UNTV News   •   February 18, 2020

HSBC Holdings PLC said on Tuesday (February 18) it would shed $100 billion in assets, shrink its investment bank and revamp its U.S. and European businesses in a drastic overhaul...

Higher infra, social services spending to fuel PH economy this year – DOF

Robie de Guzman   •   February 17, 2020

MANILA, Philippines – The Department of Finance (DOF) on Monday expressed confidence that the country’s pace of economic growth will “dramatically increase” this year despite the challenges that arose at...

Chinese restaurants clear stock to curb coronavirus losses

UNTV News   •   February 14, 2020

Wang Chuanchao was looking forward to serving customers in his restaurant during the Lunar New Year holiday, stockpiling 300,000 yuan ($42,965.17) worth of goods from celery to ox tripe. But...

Bill seeking to impose clear tax rates for POGOs pushed in Senate

Robie de Guzman   •   February 11, 2020

MANILA, Philippines – Senate President Pro-Tempore Ralph Recto on Tuesday said he has filed a bill seeking to impose a 30 percent income tax and five percent franchise tax on...

Finance chief says PH economy to remain strong amid nCoV threat, other challenges

Robie de Guzman   •   February 6, 2020

MANILA, Philippines – The Department of Finance (DOF) has expressed confidence that the challenges posed by the global spread of the novel coronavirus (2019-nCoV), the eruption of Taal Volcano and...

Hong Kong markets tumble over fears of China virus

UNTV News   •   January 29, 2020

Asian shares erased earlier gains on Wednesday, swinging into negative territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fueled fears about economic impact...

EU business lobby fears losses as China promises to import more from US

UNTV News   •   January 16, 2020

Beijing – A European business lobby in China on Thursday said Beijing’s promise to buy $200-billion worth of products from the United States in two years as part of the...

China says trade war with US hampered its 2019 foreign trade

UNTV News   •   January 14, 2020

Beijing – China’s international trade growth slowed to 3.4 percent in 2019, affected by the trade war with the United States, a country with which exchanges decreased 10.7 percent, according...

Yuan rises 0.5 percent after US drops currency manipulation charges

UNTV News   •   January 14, 2020

Beijing – The renminbi (the official name of the Chinese currency, commonly known as ‘yuan’) rose by 6.8954 units per dollar or 0.45 percent – its highest level since August...

Asia-Pacific 2020 outlook ‘negative’ due to China-US trade war: Moody’s

UNTV News   •   January 9, 2020

Singapore – Bond credit rating agency Moody’s said Thursday it had a “negative” outlook of Asia Pacific’s 2020 sovereign credit quality due to stalled growth caused by the trade war...

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